Bitcoin

Berkshire Hathaway’s vice chairman, Charlie Munger, called for a ban on cryptocurrency in the United States on Monday, similar to the one in China.  In an op-ed published with the Wall Street Journal, Munger argued that Bitcoin isn’t a currency, commodity, or security, but simply a form of gambling “ with a nearly 100% edge for the house. As such, the enactment of a federal law should ban such things from happening. Munger cited the Chinese communist party’s ban on…

According to a new earning report from automotive manufacturer Tesla, the company did not sell any of its BTC holdings in the fourth quarter of 2022. Amid speculations that the company had traded BTC during the testing bears, CEO Elon Musk revealed it was yet holding on to its BTC stash. Tesla Maintains Holdings After Initial Sell-Off In Q2 of 2022, Tesla opted to sell 75% of all its BTC. The car manufacturer received close to $950M in exchange. Notably,…

The District of Columbia Court of Appeals has marked a date for when Grayscale and the Securities and Exchange Commission (SEC) may present oral arguments regarding the approval of a Bitcoin spot ETF.  Each side will present its case at 9:30 am ET on March 7, with the SEC arguing against the product, and Grayscale arguing in favor.  Grayscale VS SEC The court date – revealed in a court order filed on Monday according to CNBC – is much earlier…

Brad Jones – former leader of Texas’ energy grid – said on a recent DR panel that Bitcoin is helping balance the Texas grid – and make it green.  The former leader’s comments reflect Bitcoiners’ prior theories that the mining industry could become a boon to environmentalism, rather than a hindrance.  Miners Supporting Texas In a conference clip shared by DocumentingBTC, Jones explained that the Electric Reliability Council of Texas (ERCOT) had been long searching for demand-responsive loads of scale…

Following Bitcoin's seeming resurgence in the past 48 hours, crypto stocks are also picking up the pace. Despite the general bearish sentiment, there seems to be a plot twist playing out in the stock market. Recent market performance shows S&P 500 and NASDAQ stocks sliding behind crypto-related stocks such as Coinbase (COIN) and Hut 8 (HUT). NASDAQ went down by a small extent, while S&P 500 dipped by 0.2%. However, the reverse was the case for stocks related to crypto…

Bitvavo – a Netherlands-based crypto exchange – is unhappy with Digital Currency Group (DCG)’s proposed plan to compensate Genesis’s troubled creditors. While DCG has offered to recover 70% of funds owed to such firms, Bitvavo has deemed the plan unacceptable. Pay it All Back, Says Bitvavo In a statement from Bitvavo on Tuesday, the exchange claimed that DCG “has sufficient funds available for full repayment.” As such, its offer to repay just 70% of debts “in a period acceptable to…

2022 saw crypto second-in-command the Ethereum network surpass Bitcoin in terms of transactions. Indeed, Ethereum reeled in four times the amount of transactions BTC processed in the past 12 months. Interestingly, despite this, BTC was able to retain its status as the best-known cryptocurrency, netting more searches than Ethereum did.  BTC Attracts the Most Online Interest in 2022 An analyst shared data on Reddit from financial services corporation Nasdaq alongside investment research platform Ycharts pertaining to both crypto assets. Per…

The provincial government of British Columbia, Canada, has enacted an 18-month freeze on setting up any new Bitcoin mining operations.  The pause will give the government time to assess whether the mining industry impacts its economic and environmental goals.  According to CBC News, the government has now suspended 21 applications for new mining operations in the province. Collectively, they would have consumed 1.403 megawatts of energy, equal to that of 503,000 homes or 2.1 million electric vehicles. “Cryptocurrency mining consumes…

Giant consulting firm Accenture’s 2022 Payments report has revealed that more users are turning to virtual assets as a payment method. This is despite the unstable condition of the crypto market over the past year. The future is digital, even for face-to-face payments.” Next-Gen Payment Options on the Rise The company took a survey of 16,000 customers in 13 countries across Asia, Europe, Latin America, and North America. According to the survey, banks and traditional finance systems, including credit cards…