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Bitcoin
Bitcoin is the pioneer of blockchains and cryptocurrencies, introduced in a white paper released in 2008 by an apparently pseudonymous person or group of people known as Satoshi Nakamoto. The document described a peer-to-peer method of transferring money without the use of financial institutions. The cryptocurrency known as bitcoin or BTC debuted in 2009. Transactions are recorded on a public ledger (a blockchain) by entities known as miners who engage in process called proof-of-work. Miners are rewarded for doing that by getting newly minted bitcoin. Some proponents view BTC as an alternative to fiat currencies and a hedge against inflation. Bitcoin has inspired the creation of numerous other cryptocurrencies and blockchain projects.
DISCLOSURE: This text was written with the assistance of AI, then reviewed by a person
BTC Daily Trading Volume Highest Since June 22
According to Arcane Research, as BTC's price spiked over $40K Monday, bitcoin's daily trading volume jumped over $9 billion in its highest climb since June 22nd. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Amazon Denies Report It Plans to Accept Bitcoin by End of Year
Amazon has denied the City A.M. report it plans to accept bitcoin payments by the end of the year. While many cited the report as one reason for bitcoin's rebound, the price began retracing some of its gains after a spokesperson for the retail giant confirmed it is false. "The Hash" panel examines the speculative and reactionary nature of bitcoin, discussing Amazon's potential hurdles on the path to crypto adoption.
Should We Be Worried About Tether?
Bitcoin is up about 25% over the past week, despite pulling back after approaching the $40K resistance level on Monday. Frances Coppola, author of "The Case For People's Quantitative Easing," discusses the potential reasons behind bitcoin's bounce. Plus, breaking down the proposed systemic risks of Tether and how it could impact the wider financial markets. "It is a worry," Coppola said.
Why ‘Wolf of Wall Street’ Jordan Belfort Thinks Tether Is a Scam
Jordan Belfort, the former stockbroker known as the “Wolf of Wall Street” and current crypto bull, discusses why he thinks stablecoin USDT issuer Tether is a scam. “I’ve been saying that since 2017 that I thought there was a big problem with Tether,” Belfort said.
Will Bitcoin Hold Above $40K?
Bitcoin is currently trading its sixth consecutive day in the green after briefly breaking above $40K Monday for the first time since June 16. Trade The Chain Research Analyst Nick Mancini discusses the potential factors driving bitcoin’s rally, examining whether the surge is sustainable in the short term.
Tether Responds to Bloomberg Report, Saying It’s 'Repackaging Stale Claims as News'
Responding to a Bloomberg report published Monday suggesting U.S. federal prosecutors are investigating Tether for a possible bank fraud offense conducted years ago, the stablecoin USDT issuer released a statement seemingly implying the report was wrong. CoinDesk's Adam B. Levine unpacks the story and its implications to bitcoin amid rising national concerns over stablecoin risks.
What Is Driving Bitcoin Prices Higher?
A short squeeze appears to have driven BTC prices higher, as those betting on bitcoin heading lower had to sell in quick succession to cover. Short liquidations or forced closure of sell positions due to margin shortage have likely added upward pressure on prices. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.
Bitcoin Rallies on Amazon’s Rumored Digital Currency Adoption
Bitcoin rebounded above $39K Sunday. Some suggest the spike could be attributed to an unconfirmed report Amazon is looking to accept bitcoin payments by year’s end and is considering minting its own token by 2022. “The Hash” hosts discuss the legitimacy of the report and its potential impact on the crypto markets.
Did a Short Squeeze Drive BTC Prices Higher?
Bitcoin broke back above $39K Sunday in the largest single daily gain in six weeks. BNY Mellon's Ben Slavin shares his analysis on the potential factors driving the BTC spike. Plus, insights into rising institutional demand for crypto services as BNY Mellon begins to custody crypto and outlook for bitcoin ETFs in the U.S.
Lightning Network Gets Boost From El Salvador’s Bitcoin Law
Bitcoin committed to Lightning channels has grown about 30% since El Salvador's bitcoin law passed, according to CoinDesk Research. "All About Bitcoin" host Christine Lee breaks down the Chart of the Day.