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



Videos

BTC Price Underperforms Treasuries Amid Russia-Ukraine Conflict

In today’s “Chart of the Day," the year-to-date returns for BTC, the S&P 500, treasuries and gold suggest that risk off has been the dominant theme so far this year, leading up to the events in Russia and Ukraine. With gold outperforming all the other assets, CoinDesk's Damanick Dantes evaluates the macro factors that might be at play. 

Recent Videos

Markets

Market Wrap: Bitcoin Stabilizes Amid Geopolitical Uncertainty

The leading cryptocurrency reverses earlier losses in seesaw trading.

putin, russia

Markets

Major Reversals From Overnight Action Continue Following Biden Sanction Remarks

Bitcoin is up more than $4K from its weakest levels of the day, while the Nasdaq has moved sharply into positive territory.

Cryptos reverse course (cdd20, Unsplash)

Markets

Bitcoin Latest Price Drop Suggests It’s Not ‘Digital Gold’ for Everyone

As geopolitical tensions rise, the cryptocurrency's price has fallen.

Bitcoin's price vs. gold, year-to-date returns. (CoinDesk Research, St. Louis Fed, Yahoo Finance)

Finance

Bitcoin Miner Core Scientific Has More Than 100% Upside: BTIG

Core came public last month via a SPAC merger, but has struggled alongside declines in the price of bitcoin.

Core Scientific's mining facility in Calvert City, Ky. (CoinDesk archives)

Markets

Bitcoin Selling Intensifies; Support at $30K Could Stabilize Correction

There are initial signs of downside exhaustion, although upside appears limited.

Bitcoin daily chart shows support/resistance with RSI on bottom (Damanick Dantes/CoinDesk, TradingView)

Videos

Crypto Market Cap Tumbled to $1.5T While Gold and Oil Prices Soar Amid Russia-Ukraine Conflict

Michele Schneider, Marketgauge Group Managing Director, joins “First Mover” to discuss the current state of the crypto markets following Russia’s invasion of Ukraine. Additionally, Schneider shares her take on bitcoin as a hedge against inflation and storage of value, and the price actions of altcoins

Recent Videos

Markets

Las principales criptomonedas caen en medio de la crisis en Ucrania

Bitcoin, por su parte, fue considerado como un activo menos riesgoso por parte de inversores.

Bitcoin cayó 9% hasta los $34.500 en las primeras horas de Asia. (TradingView)

Opinion

The Case for Taxing Proof-of-Work

Most bitcoin owners aren't cypherpunks and don't require an energy-intensive consensus mechanism. A tax would shift them on to sensible alternatives. This post is part of CoinDesk's Tax Week.

(Umberto/Unsplash)

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