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
El Salvador to Create ‘Bitcoin City,’ Use $500M of Planned $1B Bond Offering to Buy More Crypto
El Salvador plans to build “Bitcoin City,” an entire city based on bitcoin located along the Gulf of Fonseca near a volcano. President Nayib Bukele also said he plans on issuing a $1 billion “bitcoin bond,” a tokenized financial instrument developed by Blockstream on the Liquid Network.
Bitcoin Struggles at $60K Resistance; Support Above $53K
Short-term downside is likely into the Asia trading day.
Junk-Rated El Salvador’s ‘Bitcoin Bonds’ Look Explosive (Think Volcano)
Anyone buying Salvador’s bitcoin-backed bond is betting on the cryptocurrency in a very big way, ignoring the country’s distressed-debt situation, one strategist said.
Biden to Renominate Powell as Fed Chair and Appoint Brainard as Vice Chair
The president cites Powell’s stewardship of the economy during the pandemic.
Cloud Software Firm Phunware Buys 398 More Bitcoins for About $24M
The company now owns about 529 bitcoins in total, according to a statement.
First Mover Asia: Bitcoin Continues Drift Below $60K as Investors Eye Shoppers’ Inflation Response, Biden Fed Chair Pick
Trading activity could be light in the coming week because of the U.S. Thanksgiving holiday; ether holds steady above $4,300.
Leverage Demand, Not Leverage Itself, Down in Bitcoin
The latest decline in bitcoin prices may be due not to deleveraging so much as just a lack of demand for leveraged-long positions.
