Rand Paul: Cryptocurrency Could Reach World Reserve Status

Yet another government official is waking up to Bitcoin’s significance beyond its role as an asset. Rand Paul – Republican senator and well-known libertarian – recently questioned whether “cryptocurrency” could become the world reserve currency. As Bitcoin gains traction and legitimacy around the world, this reality grows ever-more plausible. Weakening Trust in Government Money Rand Paul aired his thoughts in an interview with Axios on Friday. The senator surmised that as trust in government decreases, “cryptocurrency” could “actually become the…

The First Bitcoin ETF Is Already in Danger. Here’s Why

The first US Bitcoin ETF – The ProShares Bitcoin Strategy ETF – may prove itself popular beyond sustainability. The fund is already approaching its limit on futures contracts holdings, as enforced by the Chicago Mercantile Exchange (CME). Bitcoin ETF: Too Popular to Handle? Last week, data from Bloomberg indicated that ProShares' Bitcoin ETF was holding 1900 futures contracts dated for October. This was only 100 short of the 2000 futures contract limit imposed by the CME during an ETF's first…

Major American Bank and Credit Union Enable Clients to Buy Bitcoin

NAYDIG has formed two more partnerships with traditional financial firms to bring them into the digital asset ecosystem. The fintech service provider has partnered with Q2 to allow clients of two major financial companies to purchase bitcoin. The companies include Five Star Bank and UNIFY Financial Credit Union. Banking With Bitcoin According to a press release from BusinessWire, NAYDIG has been integrated into Q2’s digital banking platform. Q2 is a financial experience company providing banks, credit unions, and fintech companies…

Walmart Allowing Bitcoin Purchases At 200 US Kiosks

Walmart – the largest retailer in the United States – has launched a pilot with Coinstar to allow Bitcoin purchases. The program includes 200 Coinstar kiosks used to exchange U.S. coins for paper bills, gift cards, and BTC. Buy Bitcoin in Walmart As reported by Bloomberg on Thursday, the pilot is part of a larger initiative between Coinstar and Coinme. The latter is the world’s largest cash to crypto exchange with over twenty thousand locations. Per their partnership, Coinstar is…

US Firefighter Pension Fund Invests in Bitcoin and Ethereum

A pension fund in the United States has added both Bitcoin and Ether to its portfolio. This marks the first-ever cryptocurrency investment by a US public pension plan, further highlighting institutional demand for crypto exposure. Firefighter Pension Partners With NAYDIG According to a press release from Newswire, the Houston Firefighters' Relief and Retirement Fund (HFRRF) announced their investment this morning. NAYDIG – a Fintech service provider for banks, corporations, and institutions – facilitated the purchase on the fund’s behalf. It…

Peter Thiel Wishes He’d Bought More Bitcoin

Peter Thiel, PayPal co-founder and tech billionaire, recently stated that he feels “underinvested” in Bitcoin. Though he is a long-time Bitcoin supporter, he avoided investing in it because he thought it was an "open secret." However, he realized that it may still have room to grow, and attributes its recent success to central bank failure. Bitcoin and Libertarianism Thiel aired his thoughts in an interview with the Lincoln network on Wednesday. The network is a non-profit that advocates for governments…

Mt Gox Rehabilitation Plan Approved By Virtually All Creditors

Creditors of Mt Gox, a former Japanese Bitcoin exchange, have finally agreed to a rehabilitation plan after seven months of voting. For those who don't know, hackers reportedly attacked Mt Gox in 2014, and stole thousands of its customers' Bitcoin reserves. Now, the project will return a fraction of those bitcoins to its customers, which still amounts to over $9 billion. Rehabilitation On The Way As indicated in a report released earlier today, over 99% of creditors approved the rehabilitation…

Bitcoin’s Price Reaches All-Time High, Soars Passed 65k

Despite the massive market crash in May, Bitcoin has finally reclaimed its former glory. The cryptocurrency's price shattered its previous all-time high earlier today and is now trading just short of $67k. The crypto community is rallying in response, and they expect far-greater highs before the end of the year. Bitcoin to the Moon According to price data from CoinGecko, Bitcoin's price rested at $64 549.73 at 9:40 am EST this morning. It had spent the night trading within the…

Blockchain Analytics Firm Adds Bitcoin To Its Balance Sheet

Chainalysis – a commonly used blockchain data company – recently invested in an unspecified amount of Bitcoin. The investment comes as Bitcoin's price creeps ever closer to all-time highs and surpasses its market cap record from May. Chainalysis Plans to HODL The data provider announced its latest investment in a blog post today and simultaneously confirmed a new partnership with NYDIG. NYDIG is a Fintech service provider for banks, corporations, and institutions. The financial company has allowed Chainalysis to add…

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