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



Markets

Market Wrap: Bitcoin Holds Above $60K as Crypto Market Cap Reaches New High

Meanwhile, some analysts are warning about overheating in the futures market given the recent rise in leveraged positions

Total crypto market cap (CoinDesk, TradingView)

Finance

Guggenheim’s Minerd Predicted Bitcoin at $15K and $400K, Now He’s Out Entirely

Guggenheim’s CIO said he’s out of bitcoin as he can’t understand what’s happening with the cryptocurrency markets.

INGLEWOOD, CALIFORNIA: In this image released on May 2, Scott Minerd attends the Global Citizen VAX LIVE: The Concert To Reunite The World at SoFi Stadium in Inglewood, California. Global Citizen VAX LIVE: The Concert To Reunite The World will be broadcast on May 8, 2021. (Photo by Emma McIntyre/Getty Images for Global Citizen VAX LIVE)

Finance

ProShares Bitcoin Futures ETF to Start NYSE Trading on Tuesday

The SEC has given the go-ahead for bitcoin futures ETFs.

(Shutterstock)

Markets

Bitcoin Faces Resistance Above $62K After Record Weekly Close

Bitcoin has gained more than 40% this month on speculation the SEC will approve an exchange-traded fund.

Bitcoin's four-hour chart with relative strength index (TradingView)

Markets

CME Sees Record Open Interest in Bitcoin Futures Ahead of ETF Debut

Record open interest on the CME represents increased institutional participation

Bitcoin CME futures open interest (bybt)

Markets

Bitcoin Futures ETFs May Boost Cash and Carry Yields

These ETFs could prompt more investors to buy futures. That would drive the futures curve further into contango.

Bitcoin ETF probabilities (Bloomberg Intelligence)

Markets

Bitcoin Mining Is Decentralizing – Here’s Proof

Mining has moved out of China. Is this good for bitcoin? Based on one metric at least, the answer is a resounding yes.

(Brett Zeck/Unsplash)

Markets

Grayscale Reiterates Plans to Convert Bitcoin Trust to Spot ETF

Once the application is made, the SEC will have 75 days to review it.

Grayscale CEO Michael Sonnenshein speaks at Consensus: Invest 2018. (CoinDesk archives)

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