Bitcoin News

El Salvador BTC legal tender is optional
El Salvador BTC legal tender is optional, locals get $30 BTC

Bitcoin as legal tender in El Salvador is optional Businesses in El Salvador can accept Bitcoin but not receive them El Salvador gives $30 Bitcoin to its citizens El Salvador president Nayib Bukele stated on the last national chain that Bitcoin as a legal tender is optional. Specifically, Bukele pointed out that businesses in their country can decide if they will accept Bitcoin or not. This statement by the president of El Salvador contradicts the current law of Bitcoin as a legal tender in the country. Bukele further explained: “ Using Bitcoin as legal tender “will be optional” and businesses

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Crypto Mining Ban Tightens in Iran
Crypto Mining Ban Tightens in Iran as BTC Price Suffers

Iran continues the cracking down of crypto mining facilities The Iranian authorities have seized a total of 7000 mining computers The hunt for crypto mining farms continues. Aside from China, other countries like Iran are also cracking down crypto mining facilities. As a result, the Iranian police have seized 7000 mining computers in the west capital of the country. This movement has been made to prevent the power shortage in Iran in the peak summer months. Furthermore, the ban will last until September 22. However, this movement by the authorities gathered mixed opinions in the country. There are people who

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What Next for Chinese Bitcoin Miners
After Government Crackdown, What Next for Chinese Bitcoin Miners?

Chinese Bitcoin miners are either shutting down or relocating amid government crackdown. Those that did not exit the market are selling bitcoins to move to crypto mining-friendly places like Texas and Kazakhstan. Publicly-traded Chinese Bitcoin mining firm BIT Mining has shipped 320 machines to Kazakhstan to restart its operations. The Chinese government has ordered the closing of Bitcoin mining activities within the country. This has affected the Bitcoin community at large, especially because more than half of the network’s hashing power comes from Chinese miners. Now that these Chinese miners cannot mine bitcoins in the country any longer, what will

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BTC Price Plunges as China Slays Crypto Mining
BTC Price Plunges as China Slays Crypto Mining and Trading

Bitcoin price drops as China continues its crypto ban campaign MicroStrategy bought an additional 13,005 BTC Bitcoin price plunges drastically as China continues its campaign against cryptocurrencies. This movement of China has been made to control the financial risk in the country. Furthermore, the People’s Bank of China (PBOC) has reached out to some payment firms to strengthen their regulations against crypto trading. The China Construction Bank and Alipay are some of the major payment firms that the PBOC has invited. This initiative made by the PBOC aims to stop criminals from abusing cryptocurrencies in their transactions. PBOC explained further:

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BTC Dives Below $36k as China Cracks Down BTC Miners
BTC Dives Below $36k as China Cracks Down BTC Miners

Bitcoin fails to maintain its position above the uptrend position of $40k. China continues the cracking down of Bitcoin mining farms. Bitcoin fails to maintain its position above the uptrend position of $40k. As a result, the price of the crypto falls below $35k with a 7-day decline rate of -2.1%. This price decline of crypto is due to some issues that BTC is facing right now. The continued cracking down of Bitcoin mining farms is one reason to consider. Specifically, the shutting down of Bitcoin mining farms is a very hot topic in China. This movement comes after the

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El Salvador Fails World Bank Support Over
El Salvador Fails World Bank Support Over BTC Implementation

El Salvador failed to gain the support of the World Bank in its Bitcoin implementation. Athena Bitcoin offered El Salvador over a thousand Bitcoin ATMs installation in the country. The country of El Salvador has failed to gain the support of the World Bank in its Bitcoin implementation. This is due to the environmental and transparency issues that the cryptocurrency is facing. As a result, this decision made by the World bank gathered different opinions across the financial world. World Bank explained: “While the government did approach us for assistance on bitcoin, this is not something the World Bank can

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BTC and MATIC Join the Trend
Crypto Market Rocket High, BTC and MATIC Join the Trend

Crypto boosted its market position together with Bitcoin MATIC price surge to almost +20.5% in the past 7 days The crypto market continues to raise its market position along with the rise of Bitcoin in the past few days. Interestingly, the total crypto market capitalization of the whole crypto market increased to almost +3% in the past 24-hours. Best of all, Bitcoin was able to boost its market price to almost +20.5% in the past 7-days despite the bearish market. Truly, this is an event that has been celebrated by the crypto community all over the world. Aside from Bitcoin,

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Bitcoin Smashes $40k, Leaving Bears Behind

Bitcoin successfully reached the bullish price of $40k. This made Bitcoin break free from its resistance level of $40k Bitcoin had just successfully reached the bullish price of $40k. Specifically, Bitcoin was able to break free from its $40k resistance level. Furthermore, this made the crypto effectively record a growth rate of over +10.5% in the past 24-hour. Indeed, this was a glorious moment that has been celebrated by the Bitcoin community in the crypto world. This made Bitcoin analyst Bitcoin Archive react in a tweet post: However, this achievement made by Bitcoin gathered many opinions across the crypto world.

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MicroStrategy Raises $400m
Michael Saylor’s MicroStrategy Raises $400m Debt to Buy BTC

MicroStrategy offered $400 million of senior secured notes to all qualified institutional investors  The senior secured notes will be due in 2028 and all the proceeds from the transaction will be used to buy Bitcoin. MicroStrategy, a firm headed by its CEO Michael Saylor is borrowing $400 million to buy Bitcoin. Specifically, MicroStrategy is offering $400 million of senior secured notes to all qualified institutional investors. These notes will be due in 2028 and all the proceeds from the transaction will be used to buy Bitcoin. Saylor explained: We say bitcoin is hope. Bitcoin fixes everything…that certainly was the case

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El-Salvador-Adds-Bitcoin
El Salvador Adds Bitcoin as Legal Tender, Paraguay, Panama to Follow

El Salvador has recently become the first country in the world to recognize Bitcoin as legal tender. Other countries in the Central and South American continent such as Paraguay and Panama may follow suit. Despite massive FUD and sell-off, the recent bullish news may have helped Bitcoin to stabilize in price. El Salvador has become the most recent country in the world to recognize Bitcoin as legal tender. The news was announced through a recorded message by the Central American country’s president Nayib Bukele during the Bitcoin Conference in Miami. Specifically, President Bukele said he will submit proposed legislation for

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Bitcoin-Funded-Indy-500-Car.
First Bitcoin-Funded Indy 500 Car Makes Historic Race

A race car fully funded by Bitcoin made its debut at the popular Indianapolis 500 on May 30. This car, appropriately named Bitcoin, will be one of the 33 cars that will take the green at the 105th edition of the highly anticipated racing event. The Bitcoin car, driven by Russian Rinus VeeKay, will be under Ed Carpenter Racing, which has been participating in the IndyCar Series since 2012. According to a tweet, Ed Carpenter, the Co-Founder of the said racing team, announced that the Bitcoin community made history with this milestone. The tweet spread like wildfire, as many in

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Elon-Musk-Starting-to-Lose-His-Charm
Is Elon Musk Starting to Lose His Charm Among the Crypto Community?

Tesla CEO Elon Musk has earned a reputation within the crypto community as a person who can literally launch thousands upon thousands of transactions by a single tweet. However, his recent tweet about allegedly speaking with North American Bitcoin miners did not give the crypto its much-needed boost to leave the $30K trenches. After posting the above tweet, Bitcoin rose by about $2,000 from $36,000 to $38,000. But that was two days ago. At the time of writing, Bitcoin price is at $39,024.29, according to CoinGecko. Interestingly, compared to the past, Elon’s tweets would move the market way higher (or

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