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Bitcoin

Bitcoin is a new electronic payment system that removes the need for third party financial institutions. It speeds up transactions while reducing costs and minimizing the potential for fraud. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.

Bitcoin’s concept was first introduced in 2008 when a person going by the pseudonym Satoshi Nakamoto shared a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” In January 2009, the Bitcoin blockchain was launched. 

A new electronic payment system called Bitcoin removes the need for third-party financial institutions. It speeds up transactions while reducing costs and fraud-risk. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.   

Bitcoin has a finite supply of 21 million, which is expected to be reached by the year 2140. Currently, 18.8 million are circulating in the market. Note that Bitcoin represents the concept of the network, while bitcoin (lower-case ‘b’) represents the currency.

Bitcoin is one of the most well-known cryptos as it was the first decentralized currency. 

Currently, BTC’s dominance is above 40%. Bitcoin Dominance is a measure of how much of the total market cap of crypto is made up of Bitcoin. Bitcoin’s influence in the crypto ecosystem could be vulnerable to competition as alternative coins grow in popularity and utility.

The government of Germany has been spotted moving eight figures worth of Bitcoin to crypto exchanges as BTC attempts a recovery from the $60,000 level. According to blockchain “de-anonymizing” platform Arkham, the Bitcoin wallet belonging to the German government has moved a total of 900 BTC in the last 24 hours.

German Government Transfers Part of $2,800,000,000 Bitcoin Stash to Kraken and Coinbase: On-Chain Data

Spot ETFs, Mt. Gox creditors, and the German government have recently hit Bitcoin's price.

Is the Bitcoin Bottom In? Here's What Experts Say

Recent data from Glassnode provides a detailed analysis of bitcoin's long-term holders (LTH) and their impact on the cryptocurrency market. In the latest onchain report, researchers highlight key metrics and behaviors of LTHs to understand supply and demand dynamics.

Analysis of Long-Term ‘Diamond Hand' Bitcoin Holders Reveals Market Insights: Glassnode

Congressman Matt Gaetz (R-Fla.) has introduced a bill that would allow federal income tax payments to be made in Bitcoin (CRYPTO: BTC).

Congressman Matt Gaetz Introduces Bill To Allow Federal Tax Payments In Bitcoin

Paying taxes with Bitcoin? Republican House Representative wants to make it so in the U.S. as crypto becomes a key election year issue.

Rep. Matt Gaetz Introduces Bill to Allow Federal Tax Payments in Bitcoin

Bitcoin miner Hut 8 Corp. (NASDAQ:HUT) shares are trading higher Tuesday. The company on Monday announced a $150 million strategic investment to build a next generation AI infrastructure platform.

What's Going On With Bitcoin Miner Hut 8's Stock?

Florida Republican Matt Gaetz introduced a bill on Tuesday that would allow people to use bitcoin to pay their federal income taxes.

Rep. Matt Gaetz introduces bill requiring the IRS to accept bitcoin as payment for federal income taxes

Solana

Bitcoin bounces above $61,000, Solana leads cryptocurrencies higher

THNDR Games popularized the notion of earning bitcoin for playing games. Now, the company is streamlining the payment infrastructure for virtual casinos and online sports betting platforms using the Bitcoin Lightning Network.

Play Games, Win Bitcoin With THNDR Games CEO Desiree Dickerson

The bill would order the Treasury secretary to develop a plan for accepting Bitcoin as payment.

Congressman Matt Gaetz Introduces Bill to Allow Federal Income Tax Payments in Bitcoin

The Right/Left divide could really hinder Bitcoin Adoption in the U.S.. Why polarization and politicking at Bitcoin's expense may get worse before it gets better

Bitcoin's Trump Card: Dividing Is The Wrong Move

The bitcoin mining company had 2,287 BTC worth $161.3 million on its balance sheet as of March 31, according to its latest earnings report.

HIVE Digital grows revenue by 8%, ends fiscal year with $141 million of bitcoin

German authorities have moved even more seized Bitcoin to exchanges, apparently liquidating more of its BTC billions in the weakened market.

Germany Selling More Bitcoin After Dumping $170 Million: Arkham

Nu's 100 million customers will now be able to transact using the Bitcoin Lightning Network.

Latin America's Largest Fintech Bank Integrates Bitcoin Lightning Payments

CoreWeave exercises the option as part of the 12-year high-performance computing contract it signed with Core Scientific earlier this month.

Bitcoin miner Core Scientific says CoreWeave exercising option for 70 MW of additional infrastructure

According to data from Arkham Intelligence, since Jun. 23, 2024, the German government has moved 820 BTC, valued at slightly above $50 million. A substantial portion of these funds was directed to the centralized cryptocurrency exchanges Kraken and Coinbase.

From $3 Billion to $2.83 Billion: German Government Transfers Another Cache of Bitcoin

Bitcoin is in a repricing range and has sideways traded for an extended period of time leaving crypto denizens on the edge of their seats waiting for the next leg up.

Bitcoin's Crash And Mt. Gox Liquidation: What To Do?

At the start of the week, U.S. spot bitcoin exchange-traded funds experienced their seventh consecutive day of net outflows, losing $174.45 million during Monday's trading session. Grayscale's Bitcoin Trust (GBTC) was impacted most, seeing approximately $90 million in outflows.

Ongoing Withdrawals Challenge US Bitcoin ETFs, Nearly $175M Exited Monday

Suppose that there is an increase in the demand for gold, perhaps due to a flight to quality or a hedge against inflation. The market price for gold will rise as the demand curve shifts outward.

Understanding Bitcoin's Volatility

Ethereum

Crypto analyst Teng Yan contrasted potential bull and bear cases for the top cryptocurrencies ahead of the Ethereum ETF launches. What Happened: Teng Yan expressed his "hopelessly optimistic" stance but also made a potential bear case for Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH), noting that Bitcoin ETF flows are decelerating and might even be reversing.

Why Bitcoin, Ethereum Will Be Climbing A 'Wall Of Worry' In The Coming Weeks

The German government transferred millions in seized Bitcoin to exchanges Kraken and Coinbase, which could signal plans to sell and introduce downward price pressure on Bitcoin.

German Government Moves Millions in Bitcoin to Exchanges

“This is time when accumulation whales are likely to respond to market fear, indicating a potential V-shaped rebound," said a CryptoQuant analyst.

After Sweeping Bitcoin and Ethereum Liquidations, Analysts Are Watching for Accumulation Whales

After a decade-long wait, creditors of the defunct Mt Gox exchange are set to receive in-kind distributions of bitcoin and bitcoin cash starting in July. The head of research from Galaxy Digital predicts the market impact of these distributions will be less severe than anticipated.

Galaxy Digital's Alex Thorn: Mt Gox Bitcoin Distributions Unlikely to Disrupt Market

The latest price moves in bitcoin (BTC) and crypto markets in context for June 25, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: BTC Steadies, but 10% Monthly Loss Questions Nasdaq Rally

The government began sending assets to crypto exchanges last week following the seizure of 50,000 BTC from piracy site Movie2k in January.

News for Bitcoin Crypto (BTC)