Category Archives: Bitcoin

The price of bitcoin slumped as low as $19,700 on Monday. Photo: Getty

The crypto market is braced for further turmoil after more than $900bn (734bn) was wiped off the bitcoin (BTC-USD) market since last years peak.

The price of bitcoin slumped as low as $19,700 on Monday after volatile trading over the weekend, saw it dip below $20,000 for the first time since November 2020.

Read more: Bitcoin's next support level? Why 'perhaps its $15,000.'

Bitcoin tumbled under $18,000, striking a low of $17,600 over the weekend.

The sell-off represents a 71% decline in the value of the most actively traded token from its peak of $69,000 in November last year. Bitcoin was up 4.8% to $20,589 at the time of writing.

Ethereum (ETH-USD), the second most popular cryptocurrency, has fallen by 78% during the same period. Ether was up 8.9% to $1,145.85 on Monday.

The global crypto market cap fell to $901bn, a 7% decline in the last 24 hours, according to data from Coinmarketcap.

The market turmoil also caused Magic Internet Money (MIM-USD), the so-called stablecoin, to de-couple from the US dollar over the weekend, as the value of the coin dropped as low as $0.9098 on Saturday. It was up 0.2% to $0.99 on Monday.

Terra (LUNA1-USD), a rival stablecoin, broke its peg to the greenback and collapsed last month after substantial withdrawals by investors.

Read more: Crypto live prices

It comes as soaring inflation and tightening monetary policy reduced trader appetite for riskier assets like bitcoin.

Investors had been willing to take more risk on speculative investments before global central banks raised interest rates from record lows to decades highs.

The deepening crypto market rout has stoked fears that further selling could materialise among investors that have borrowed to boost their holdings.

"Exchanges all over the place are halting withdrawals amid liquidity problems as investors (bagholders) rush for the exits," said Neil Wilson, chief markets analyst at Markets.com.

"Rising interest rates, an acute risk-off mood across markets, a thinning of liquidity is all to blame: in short the end of free money from the Fed means the artificial pump that created these assets is no longer working."

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Read more: Bitcoin slump deepens in crypto meltdown

Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, said: "Bitcoin is still being whipped by winds of worry as the investors flee the crypto world in their race away from risky assets. Its dipped back below the key milestone of $20,000, a price it last hit back in 2020 when the cryptocurrency was on its way up to dizzying heights.

"This time its hurtling down in value and although weve seen coins and tokens hit by extreme volatility in the past, the indications are that this decline may not be reversed any time soon and that a crypto winter could be settling in."

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Crypto volatility continues to batter bitcoin

The stock market has officially entered bear market territory, and cryptocurrency prices are also continuing to sink.

The good news, though, is that expensive investments are now much more affordable. The price of Solana (SOL 1.92%), for example, is down roughly 86% from its peak. If you've been on the fence about investing in crypto, prices are lower than they've been in a long time.

Solana may have been knocked down in recent months, but there are plenty of reasons why it's a strong investment -- and could even be the next Bitcoin (BTC -1.04%).

Solana was one of the breakout stars of the crypto world in 2021, and it's also one of the fastest-growing cryptocurrencies. Although its biggest competitor is Ethereum (ETH -1.27%), Solana's most recent developments are helping it compete with Bitcoin, too.

Until recently, Solana was primarily known for its ability to host decentralized applications. Like Ethereum, it's a programmable blockchain that is home to everything from non-fungible token (NFT) marketplaces to decentralized finance (DeFi) projects and more.

Its lightning-fast speed and low transaction fees have helped it grow quickly. Many developers and users, frustrated with Ethereum's sluggish transaction times and high fees, have flocked to Solana over the past year.

Recently, Solana announced the release of Solana Pay, a decentralized payment system that allows merchants to accept cryptocurrency as a form of payment.

Solana Pay could give Bitcoin a run for its money, as both are helping to usher in crypto as a form of payment. Solana Pay, however, does have some distinct advantages over Bitcoin.

For one, Solana Pay has very little impact on the environment, according to Solana developers. This is an area where Bitcoin has been heavily scrutinized, as the crypto giant uses more energy than some entire countries. Critics of Bitcoin have also pointed out that because it's so energy-intensive, it could be difficult for it to scale.

Also, Solana Pay transactions happen instantly and cost just a fraction of a penny. Bitcoin transactions, on the other hand, can take anywhere from 10 minutes to an hour to finalize, and fees are generally around $1 to $2 per transaction (though they can be much higher).

Solana has plenty of strengths, but it's not the right option for everyone. Like all cryptocurrencies, it's still speculative at the moment, meaning nobody knows whether it will succeed over time or not.

Also, although Solana has certain advantages over both Ethereum and Bitcoin, it's still an underdog. Bitcoin is the most popular cryptocurrency in the world, with a market cap of roughly $394 billion. Ethereum is the most widely used blockchain for decentralized applications, and its market cap is around $132 billion. Solana, by comparison, has a market cap of just $10 billion.

Solana has also struggled with its network's reliability, having experienced several major outages in 2022 alone -- which has likely contributed to its sinking price. While developers are working to strengthen the network and fix these issues, many investors are understandably hesitant about its future.

In order to truly compete with Bitcoin and Ethereum, Solana will need to work through these growing pains and continue gaining new users. It's uncertain whether that will happen, though, which does make Solana a higher-risk investment.

If you're willing to take on more risk for the chance of earning potentially lucrative returns, Solana may be the right fit for you. Just be sure you're only investing money you can comfortably afford to lose, and double-check that the rest of your portfolio is properly diversified to limit your risk.

Solana isn't a good fit for everyone, but it has its advantages. Whether it will ever overtake Bitcoin is unclear, but it's already proven to be a strong player in the crypto world. By weighing the pros and cons and considering your tolerance for risk, it will be easier to decide whether it's the right investment for you.

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Is Solana the Next Bitcoin? | The Motley Fool

The worlds largest cryptocurrency Bitcoin witnessed another major weekend of a bloodbath as the BTC price took a dive under $18,000 for the first time. There have been major liquidations taking place with long-term Bitcoin holders dropping the towel and giving up.

As per on-chain data Glassnode, there have been Bitcoin liquidations to the tune of $2.42 Billion every day, for the last three consecutive days. The data provider noted:

The last three consecutive days have been the largest USD denominated Realized Loss in Bitcoin history. Over $7.325B in $BTC losses have been locked in by investors spending coins that were accumulated at higher prices.

Furthermore, in the last three days, more than 555K Bitcoins have changed hands in the price range between $18,000-$23,000. Interestingly, long-term holders holding BTC for 1yr+, who accumulated coins in H1 2021 or earlier, started panicking, flooding the exchanges with 20K to 36K Bitcoins every single day.

As per data from Glassnode, long-term holders sold more than 178K Bitcoins after the price dropped under $23,000. This represents 1.31% of their total holdings. Further, it also takes the aggregate LTH balance to September 2021 levels.

Glassnode also mentions signs of major capitulation taking place. It writes:

Investigating the profit and loss by Long-Term Holders sending coins to exchanges, we can see a deep capitulation took place. A few #BitcoinLTHs even bought the $69k top, and sold the $18k bottom, locking in -75% losses. Total LTH losses 0.0125% of Market Cap per day.

Besides, Glassnode also added that Bitcoin miners have also been under stress with their balances stagnating from the 2019-2021 accumulation period. Last week, BTC miners spent 9K from their treasuries and are still holding more than 50,000 Bitcoins. The Bitcoin hashrate has also dropped 10% from its all-time high.

Apart from long-term holders, the short-term holders have also seen major losses. Glassnode explains: If we assess the damage, we can see that almost all wallet cohorts, from Shrimp to Whales, now hold massive unrealized losses, worse than March 2020.

The data provider explains that as the BTC price tanked under $18,000, only 49% of the total Bitcoins were in profit.

Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

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Bitcoin (BTC) Long-Term Holders Are Finally Giving Up: Report

The host of Mad Money, Jim Cramer, has predicted that bitcoins price will fall to $12,000. Nonetheless, he has recommended bitcoin and ether for people wanting to invest in crypto.

Jim Cramer, the host of Mad Money, talked about the future outlook for bitcoin on CNBC Friday. Cramer is a former hedge fund manager who co-founded Thestreet.com, a financial news and literacy website.

He was asked whether he thinks bitcoin is going to bounce from the current level, or whether BTC will go down another 50% or more.

Sharing his bitcoin price prediction, he replied:

I think it goes to $12,000, where it was before this whole fiasco began.

I think the people involved with bitcoin have to take another stand, the Mad Money host stressed. We need some guys to just say, Look this is the level. Thats typical of what happens when its about to really drop big. He emphasized, They cant let it go down anymore.

Cramer proceeded to talk about Microstrategy, the Nasdaq-listed software company that has amassed 129,218 BTC on its balance sheet. Its CEO, Michael Saylor, is a bitcoin bull. He was recently on CNBC talking about bitcoin being the best investment for his company and it is a good time to buy BTC at the current level.

Microstrategy recently debunked the rumor that it is facing a margin call for a bitcoin-backed loan from Silvergate Bank and will need to liquidate some BTC. Saylor explained that the company has more bitcoin to pledge and other collateral to post for the loan.

However, Cramer said if the lender changed the margin rates on crypto, Saylor would be out in a second.

Bitcoin plummeted early Saturday morning, falling below $20K for the first time since 2020. At the time of writing, BTC is trading at $17,983, down 13% over the past 24 hours and almost 40% over the last seven days.

The Mad Money host tweeted Saturday:

Ten percent down for bitcoin and you get some nasty margin calls over the weekend Amazing that there are no big institutions propping this up.

He added in a follow-up tweet: I wonder what rabbit Michael Saylor can pull out of a hat with his Microstrategy gameplan. I wonder when he first raised money if he had this in mind.

Earlier this month, Cramer gave some advice on cryptocurrency investing. He admitted that he owns ethereum, adding: I would never discourage you from buying crypto. However, he said: I would prefer that you would do it in ethereum or bitcoin, which have the largest followings.

In October last year, he said: The whole investment case for crypto rests on the Greater Fool Theory. Microsoft co-founder Bill Gates made a similar comment this week that crypto is 100% based on the Greater Fool Theory, emphasizing that he is not involved in it.

Cramer is not the only one predicting a massive fall in the price of bitcoin. Billionaire fund manager Jeff Gundlach said this week that he wouldnt be surprised at all if BTC falls to $10K. Rich Dad Poor Dad author Robert Kiyosaki indicated that BTC could bottom out at $9K. Guggenheim Chief Investment Officer Scott Minerd said last month that BTC could fall to $8K.

What do you think about Jim Cramers prediction? Let us know in the comments section below.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Mad Money's Jim Cramer Expects Bitcoin to Fall to $12,000

Bitcoin continues to trade around the $20,000 mark, keeping investors on edge about where the price is going next.

Nurphoto | Getty Images

Bitcoin jumped on Monday, after the cryptocurrency fell below its 2017 high over the weekend, but investors remained on edge thanks to a slew of negative crypto headlines and macro factors keeping pressure on sentiment.

The world's largest cryptocurrency by market cap climbed above the $20,000 mark for much of the day Monday. However, it last edged lower by 1.2% to $19,840.89, according to Coin Metrics. Over the weekend, bitcoin fell as low as $17,601.58. Meanwhile, ether slipped by 1% to $1,088.41.

While investors will welcome the rebound, bitcoin still sits 70% below its all-time high, hit in November. It's down 57% year-to-date. Many have suggested a market bottom could be close, but with so much economic uncertainty remaining, bitcoin still has more downside potential, according to Yuya Hasegawa, a crypto market analyst at Japanese bitcoin exchange Bitbank.

"Bitcoin's weekend dip was, to put it simply, not deep enough," he said. "The macro environment has not really changed from last week's FOMC meeting: there still has not been a clear sign of inflation coming down and the Fed may still drive the economy into recession by raising rates too aggressively or simply by failing to tame inflation."

With bitcoin unable to hold convincingly above $20,000, industry watchers said the rally might be short-lived.

Vijay Ayyar, vice president of corporate development and international at crypto exchange Luno, told CNBC that unless the price of bitcoin closes above $23,000 on a daily time frame basis, "the odds are this is a dead cat bounce."

"We're oversold, so a bounce was expected," he added.

The broader cryptocurrency market has been plagued by a number of issues in recent weeks, beginning with the collapse of algorithmic stablecoin terraUSD and associated token luna.

Attention has now turned to crypto lending companies that promise users high yields for depositing their digital coins. Last week, Celsius, a company with 1.7 million customers and nearly $12 billion of crypto assets under management, paused withdrawal of funds for customers, sparking concerns that it is insolvent.

Cryptocurrency companies have announced rounds of layoffs amid the market downturn. Coinbase, a crypto wallet and exchange, said last week it will cut 18% of full-time jobs. A lending firm called BlockFi said last week it will lay off a fifth of its staff.

Macroeconomic factors including high inflation and upcoming rate hikes from the U.S. Federal Reserve are also weighing on the market.

"When inflation is on the doorstep and with rate hikes in the offing, the risks of a recession round the bend are high," Charles Hayter, CEO of CryptoCompare, told CNBC via email.

"The push me pull you of higher rates sapping cash from mortgaged house owners means people are psychologically bracing and paring back and digital assets are suffering thus."

"Coupled with this, the pull back in the digital asset ecosystem has uncovered a number of systemic issues."

Given the big fall in cryptocurrency prices in the last few weeks, some observers said that a bottom to the market could be close.

Giles Keating, director of Bitcoin Suisse, told CNBC's "Squawk Box Europe" on Monday that "we're close to a point where some of the real excess leverage has now been driven out of the system and a bottom can begin to be formed."

Leverage refers to trading in which investors effectively use borrowed money to make trades. That means investors can get larger exposure to positions with less initial capital. But that's seen as a risky means of trading as it requires investors to ensure they have enough capital to meet the so-called margin requirements. If they don't, their position is automatically liquidated. Those liquidations are seen as a big factor behind market moves.

Keating said there is still a risk of further liquidation, but he thinks the majority of the selling is over.

"Now some people are warning that we are still not yet there and that if we were to break significantly lower, that we'd see another wave of liquidations," Keating said.

"There's always that risk hovering there. But my feeling, given I think those very very big double digit rebounds we saw, in bitcoin, particularly in ether, I think to my mind that was a sign that a lot of those really big liquidations are now done and that the base really is being formed."

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Bitcoin bounces back after falling to new 2022 lows over the weekend - CNBC

Bye-bye bear market blues; welcome to the network, Bitcoin (BTC) believers. Over the past week, the number of Bitcoin wallet addresses containing one BTC or more increased by 13,091. The total number of wholecoiners surged to 865,254.

The number of whole coiners has rocketed during the downward price action, highlighted by the hockey stick growth on the Glassnode graph:

Christian Ander, the founder of the Swedish Bitcoin exchange BT.CX told Cointelegraph that "This is good for the ecosystem that its growing from the ground up because want the economy to be bottom up. Ander continued:

Over the past 10 days, since May 10 market slump to $30,000, over 14,000 whole coiners have joined the network. As there will only ever be 21 million Bitcoin mined, each of these wallet addresses will own 1/21,000,000 of all Bitcoin.

At an approximate price of $20,000 per Bitcoin, the sharp increase in the number of whole coiners would suggest that retailor plebs as they are affectionately knownare buying Bitcoin as fast as their incomes will allow. The number of addresses adding 0.1 BTC ($2,000) or more has also begun a parabolic run over the past 10 days.

In contrast, the number of wallets containing more than 100 BTC has dropped by136 over the same period. By inference, "whale" wallets (large BTC wallet addresses) could be unloading their bags.

Related: El Salvador president addresses bear market concerns with Bitcoin hopium

When Satoshi Nakamoto mined the first Bitcoin on Jan. 9, 2009, the Gini coefficient was 1, i.e., the income inequality on the network was the highest it has ever been. The Gini coefficient, developed by statistician Corrado Gini, represents income inequality or wealth inequality within a social group. In Bitcoin, it can be mapped onto wallet addresses.

As soon as Hal Finney, the first Bitcoin believer began mining and receiving Bitcoin, the Gini coefficient dropped from 1. It has trended lower and lower ever since, indicating that the wealth distribution on the Bitcoin network is becoming fairer and fairer.

As for Ander, he told Cointelegraph that he "stacked some more SATs yesterday!"

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Bitcoin mints more than 13,000 'wholecoiners' in the past seven days - Cointelegraph

The chief executive officer of blockchain technology company Blockstream says that leading digital asset Bitcoin (BTC) could see a 5x increase in price by the end of the year.

Adam Back tells his 481,600 Twitter followers that he expects the U.S. Federal Reserve to reverse its tight monetary policies before 2022 expires and create a macro environment conducive to the growth of Bitcoin.

Everyone has their pet macro-views. My guess: stock market + US election season, moral hazard kicks up, quantitative easing ramps up again, rates drop again, money printer goes into overdrive. So the interest rate overhang falls off, and BTC decorrelates somewhere along the way once DeFi (decentralized finance) flushed.

On top of a favorable macro backdrop, Back says the approval of the much-awaited spot Bitcoin exchange-traded fund (ETF) could leave many bears on the sidelines.

My permabull case for BTC/USD [is] $100,000 this year. Plus a US physical Bitcoin ETF chaser (GBTC upgrade + other) would create a nice whipsaw and probably trigger a big uncoupling and positive reflexivity into a blow off top next year.

Back warns traders against taking leveraged positions, especially now that theres a lot uncertainty surrounding the DeFi space.

But what do I know? Just dont use leverage, and most particularly, not while the DeFi contagion works out. If you dont have leverage you can just buy and hold and wait so timing matters not. Im a permabull. So I keep buying as I can afford. And hold. It works long-term.

Bitcoin is changing hands at $20,051 at time of writing, a 9.94% increase on the day.

Featured Image: Shutterstock/Mia Stendal

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Bitcoin (BTC) Will Whipsaw Traders to $100,000 This Year, Says Blockstream CEO Adam Back Heres How - The Daily Hodl

Like clockwork, the onset of a crypto bear market has brought out the Bitcoinis dead crowd who gleefully proclaim the end of the largest cryptocurrency by market capitalization.

The past few months have indeed been painful for investors, and the price of Bitcoin (BTC)has fallen to a new 2022 low at$17,600, but the latest calls for the assets demise are likely to suffer the same fate as the previous 452 predictions calling for its death.

Resolute Bitcoiners have a bag full of tricks and on-chain metricsthey use to determine when BTC is in a buy zone, and now is the time to take a closer look at them. Lets see what time-tested metrics say about Bitcoins current price action and whether the 2021 bull market was BTCs last hurrah.

One metric that has historically functioned as a solid level of support for Bitcoin is its 200-week moving average (MA), as shown in the following chart posted by market analyst Rekt Capital.

As shown in the area highlighted by the green circles, the lows established in previous bear markets have happened in areas near the 200-MA, which has effectively performed as a major support level.

Most times, BTC price has had a tendency to briefly wick below this metric and then slowly work its way back above the 200-MA to start a new uptrend.

Currently, BTC price is trading right at its 200-week MA after briefly dipping below the metric during the sell-off on June 14. While a move lower is possible, history suggests that the price will not fall too far below this level for an extended period.

Along with the support provided by the 200-week MA, there are also several notable price levels from Bitcoins past that should now function as support should the price continue to slide lower.

The last time the price of BTC traded below $24,000 was in December 2020, when $21,900 acted as a support level that Bitcoin bounced off of prior to its run-up to $41,000.

Should support at $20,000 fail to hold, the next support levels are found near $19,900 and $16,500, as shown on the chart above.

Related: Too early to say Bitcoin price has reclaimed key bear market support Analysis

One final metric that suggests BTC may be approaching an optimal accumulation phase is the market-value-to-realized-value ratio (MVRV), which currently sits at 0.969.

As shown on the chart above, the MVRV score for Bitcoin has spent most of the time over the past four years above a value of 1, excluding two brief periods that coincided with bearish market conditions.

The brief dip that took place in March 2020 saw the MVRV score hit a low of 0.85 and remain below 1 for a period of roughly seven days, while the bear market of 2018 to 2019 saw the metric hit a low of 0.6992 and spent a total of 133 days below a value of 1.

While the data does not deny that BTC could see further price downside, it also suggests that the worst of the pullback has already taken place and that it is unlikely that the current extreme lows will persist for the long term.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.

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Bitcoin critics say BTC price is going to $0 this time, but these 3 signals suggest otherwise - Cointelegraph

Shark Tank star Kevin OLeary, aka Mr. Wonderful, says he is not selling any of his cryptocurrencies despite the crypto market downturn. Long term, you just have to stomach it. You have to understand youll get volatility, he stressed.

Shark Tank star Kevin OLeary talked about bitcoin and other cryptocurrencies in an interview with the Insider, published Saturday.

Commenting on the crypto market turmoil, OLeary said:

Im not selling anything Long term you just have to stomach it. You have to understand youll get volatility, and that some projects arent going to work.

OLeary currently holds 32 positions in the digital asset space, the publication conveyed. He is also a strategic investor of Wonderfi Technologies. The crypto platform received conditional approval to list its shares on the Toronto Stock Exchange (TSX) last week.

In an interview with Bankless, published last week, OLeary said that his largest holdings right now are ethereum and bitcoin. However, he added, I also have a big position in USDC [and] a big position in FTX as an equity. He additionally mentioned polygon and solana. Emphasizing the importance of diversification, he said about eight weeks ago his crypto holdings were approximately 21% of his portfolio. Now, its down to about 18%, he said, elaborating:

Theres been a big correction in the market but youve got to hold your nose and get used to the volatility.

The Shark Tank star explained that the recent crypto collapses, such as the implosion of cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST), provide valuable lessons to investors.

The demise of UST educated everybody that this isnt the way to build a stablecoin, he said, emphasizing that Its important for the education and the maturation of the market.

OLeary added that the collapse of a crypto token does not have a big impact on global financial markets. He opined:

Its nothing, a rounding error in the context of a sovereign wealth. Its bad for investors, but theyve educated the market on what not to do. Its a good thing.

Mr. Wonderful has been saying that trillions of dollars will flood into crypto when we get policy and the regulator regulates. He also believes that crypto will be the 12th sector of the U.S. economy within 10 years.

What do you think about the comments by Kevin OLeary? Let us know in the comments section below.

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests lie in Bitcoin security, open-source systems, network effects and the intersection between economics and cryptography.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Kevin O'Leary Says He Won't Sell Any Crypto Despite Downturn 'You Just Have to Stomach It' Markets and Prices Bitcoin News - Bitcoin News

The crypto winter is here. Its a trying time as prices grind down, but its the best moment to build and learn. For some Bitcoiners, the bear market is a time to plant treesor create memes. For those with kids, its a welcome recess used to broaden the minds of Bitcoin (BTC) minors.

Cointelegraph spoke to the creators of popular Bitcoin-related games and educational tools to understand why teaching kids about sound money is critical, and some of the best ways of doing so.

SHAmory, a portmanteau of SHA-256 (the cryptographic function that hashes inputs in Bitcoin) and memory, is among the best-selling Bitcoin games. Targeted at kids aged four and over, creator Scott Sibley shared that he had his toddler in mind for both the creation of the game and book.

Sibley and his wife also thought up Goodnight Bitcoin,part of a burgeoning bookshelf of Bitcoin-related books. A passionate educator, Sibley told Cointelegraph that breaking the money taboo and educating kids about finance is critical:

Sibley suggested that kids seeing, interacting with and recognizing something as simple as the Bitcoin logo or even playing our game and then asking how Bitcoin mining works, is key for long-term adoption. Plus, the Gen-Z the Zoomer generation has a headstart understanding intangible digital products: Transacting in Bitcoin is going to be no different than buying a new skin or level in a video game they are currently playing.

Will Reeves, co-founder of Fold App a Bitcoin rewards debit card co-founded the Bitcoin gameBitopoly. Reeves told Cointelegraph that the first version of Bitopoly emerged from a conversation around a dinner table in which we were attempting to teach friends and family members about Bitcoin. He said:

Much like Sibley, Reeves explained that the best thing for Bitcoin adoption is teaching children, especially as they have no preconceived notions.

Kids do not approach Bitcoin with a lifetime of preconceived notions, thus they are able to understand it faster and with less pushback against their own bias, he said.

In comments that may ring true for adult readers, Reeves said that Bitcoin is a hard process of unlearning their previously held thoughts and understandings about what money is.

MTC, the founder of Sats Ledger, told Cointelegraph, I wanted to share Robert Breedlove and other Bitcoiners, with his young family. As a Bitcoin influencer and freedom maximalist, he knows that realistically, no five-year-old would sit through a one-hour Breedlove podcast that waxes lyrical about sound money, libertarian first principles and the evolution of the tax system.

MTC reflected on his own childhood, during which he really liked to save. He remembered the savings books that he would diligently fill out, watching his wealth grow. Combine that with the fact that kids dont like being cheated out of things, and mine is one of the first concepts that a kid understands, and Sats Ledger was born.

MTC said Sats Ledger is a fun, physical savings book for kids to log their Satoshi savings, money that nobody can take from them.

With Sats Ledger, kids get to grips with Bitcoin and money learning how to HODL using a low-time preference. MTC told Cointelegraph, If you can encourage kids to see their savings growing then it puts them on the path to understanding sound money and Bitcoin.

Another childhood saver, Pigtoshi Nakamoto, hatched a Bitcoin twist on the premier childhood saving device the piggy bank. The BitPiggy works with OpenDime, a Bitcoin USB stick that allows people to spend Bitcoin-like dollar bills, to teach kids how to save some or all of their money in Bitcoin.

Pigtoshi told Cointelegraph, I figured it out early that if I saved early in life then things would get easier later in life. Especially when youre young. Its when youre young, thats when you can get ahead. They have since partnered with Sibley from SHAmory, so more toys and games could be on the horizon.

In the United Kingdom, Bitcoiner Coach Carbon has taken the beautiful game of soccer and combined it with Satoshi Nakamotos invention. A life and health coach and lifelong soccer fan Coach Carbon founded Bitcoin Ballers academy, where kids work to combine proof-of-work, personal responsibility and fighting the FUD in a footballing journey, he told Cointelegraph.

Bitcoin Ballers soccer training exercises include 51% attack; a training game called getting off zero and difficulty adjustments within certain training exercises where defenders are added or the pitch size is boxed in. For Coach Carbon, its not just about promoting Bitcoin:

Fundamentally, given that the Bitcoin network is barely a teenager just two countries out of a possible 195 have formally adopted Bitcoin and global adoption rates sit at less than 1%, hyper-Bitcoinization (when Bitcoin becomes the global store of value), is a distant prospect. As the educators explained, exposure to Bitcoin from a young age is another small step on that path.

Related:Is education the key to curbing the rise of scammy, high-APY projects?

Moreover, an unexpected upshot to educating children about sound money is the knock-on effect it has on parents. Reeves concluded that teaching children about Bitcoin is one of the most efficient strategies for accelerating the adoption of Bitcoin.

Whereas for Sibley, games, books, and educational tools are a stealth way of orange-pilling people, notably the parents.

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From games to piggy banks: Educating the Bitcoin minors of the future - Cointelegraph