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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
Crypto Taking Off in Latin America
Many U.S. investors might view bitcoin mostly as a store of value, but in Latin America, bitcoin and other cryptocurrencies are emerging as useful payment methods. Daniel Vogel of Bitso joins "First Mover" to discuss the state of the crypto markets in Latin America, Bitso's expansion plans and what's behind the stablecoin boom in the region.
Square's $3.5B Bitcoin Earnings Are A Bullish Sign for Institutional Adoption
Bitcoin's steady price this week may not have been flashy, but several important corporate moves are a bullish sign for things to come. Square's Q1 earnings revealed a $3.5 billion bitcoin-related profit for Cash App alone, NYDIG hired a top hedge fund titan, and Goldman Sach's first bitcoin derivatives products hit the market. "All About Bitcoin's Week-in-Review panel discusses this week's big bitcoin news.
Square’s Cash App Generated $3.5B in Bitcoin Revenue in Q1
Square’s bitcoin business is driving the bottom line. Cash App generated $3.5 billion alone in bitcoin revenue during the first quarter. “The Hash” panel discusses the significance of Square’s bitcoin success.
Chart of the Day: Bitcoin Consolidation
Bitcoin has been trading sideways throughout the week, nearing resistance at $58K. Data suggests traders were quick to take profits during rallies, and the slowing momentum indicated bitcoin was ready to take a breath after breaking through the $50K barrier. "All About Bitcoin's" host Christine Lee breaks down the data in the Chart of the Day.
Jackson, Tennessee Wants to Become the Next Bitcoin Hub
Scott Conger, mayor of Jackson, Tennessee, wants the city to become a major hub for crypto companies. Conger’s plans include facilitating mining and paying city employees in bitcoin. Conger joins “First Mover” to talk about his crypto dreams for Jackson and how he plans to make them a reality.
Bitcoin and Ether Are Diverging
Over the past year, ether and bitcoin have begun to diverge as ether is increasingly considered an investable asset while bitcoin is seen as a store of value. “All About Bitcoin’s” host Christine Lee breaks down the data in the Chart of the Day.
Will the Fed’s Policies Strengthen Bitcoin Further?
Altcoins are booming while bitcoin remains trapped in the band between $50K and $60K, but analysts are still bullish. Edward Moya of OANDA joins “All About Bitcoin” to give his outlook for bitcoin, which he thinks will be bolstered by the Fed’s easy money policies and rising inflation.
Revolut’s UK Users Will Finally Be Able to Withdraw Bitcoin
Revolut has come under fire in the past for not allowing users to withdraw their crypto from the platform and deposit it in their personal wallets, but a new beta program in the U.K. will allow some users to do just that. “The Hash” panel discusses if other platforms will follow.
How Common Is Crypto Crime?
Regulators like Janet Yellen and industry leaders like Charlie Munger have made headlines in recent weeks for claiming criminals use bitcoin, but how common is crypto crime, really? Philip Gradwell, the chief economist at Chainalysis, a crypto analytics firm, says it’s rare.
Bitcoin Making Room for Ether and Other Crypto
While Ether and Dogecoin are setting new records this week, bitcoin remains in the band between $50K and $60K. CoinDesk’s Director of Data and Indexes, Galen Moore, discusses markets news and a look at bitcoin compared to other cryptocurrencies across bull and bear cycles.