The Grayscale Bitcoin Trust (GBTC) is the worlds largest bitcoin fund and the first investment vehicle of its kind to report financials regularly to the U.S. Securities and Exchange Commission (SEC).

GBTC shares are part of a range of traditional financial products that track cryptocurrency prices offered by Grayscale Investments; the worlds biggest digital asset management firm and part of the Digital Currency Group (DCG) led by founder and CEO, Barry Silbert. DCG is also the parent company of Coindesk.

Originally launched in 2013 as the Bitcoin Investment Trust (BIT), the Grayscale Bitcoin Trust offers accredited investors the opportunity to gain exposure to the leading cryptocurrency by purchasing shares of an open-ended private trust that holds in excess of 649,130 BTC to date equating to almost 3.1% of bitcoins current circulating supply.

The fund tracks the price of bitcoin using the XBX index published by TradeBlock a company recently acquired by CoinDesk. During periods of high bitcoin market volatility, GBTC shares trade at a discount or premium depending on investor demand. For example, when bitcoin experiences a sharp increase in price, theres generally a higher demand for GBTC shares from institutional investors which in turn drives their price up.

On May 31, 2017, the shares traded at 137% premium as bitcoin began its ascent to $19,783 before sharply correcting. Since 2019, GBTC premiums have oscillated in a much narrower range between 6% and 38%.

The minimum buy-in is $50,000 and Grayscale charges a 2.0% annual account fee which is accrued daily, according to the official website. Each GBTC share, as of Feb. 5, 2021, entitles the holder to 0.00094825 BTC (approximately $40).

What are the benefits of purchasing GBTC shares over bitcoin?

Simply put, the main selling point is: bitcoin without the hassle and stress.

The Grayscale Bitcoin Trust allows investors to speculate on bitcoin without having to buy it directly. This eliminates the need to organize the safe storage and custody of the digital asset, and saves a number of associated costs. It also allows institutional investors to complete large buy orders with minimal slippage compared to centralized crypto exchanges which often lack sufficient liquidity. Slippage is when a trade is executed at a different price than expected, for example when placing a large buy order drives up an assets price.

Because GBTC shares are a form of traditional security, there is also much clearer tax guidance and the opportunity to hold shares in a number of tax-advantaged accounts, such as Roth IRAs or 401(k)s.

Who can invest in the Grayscale Bitcoin Trust?

Only accredited investors can invest in Grayscale financial products.

An accredited investor, according to the United States Securities Act 1933 Rule 1 Regulation D definition, is someone who can show an annual income of at least $200,000 or a combined spousal income of $300,000 for the past 2 years with the expectation of receiving the same or more during the current year. In August 2020, the United States Securities and Exchange Commission expanded the definition to include people with defined measures of professional knowledge, experience or certifications in addition to the existing tests for income or net worth. This means that individuals who are able to demonstrate a level of sophistication can also qualify as accredited investors without needing to earn a six figure salary.

When the Grayscale Bitcoin Trust first went live almost 8 years ago, it was initially a private fund for a select number of investors. In 2015, however, the Grayscale Bitcoin Trust received approval from the Financial Industry Regulatory Authority (FINRA) to sell GBTC shares publicly. These are available on OTCQX, an over-the-counter market for financial securities.

Who are the main investors in the Grayscale Bitcoin Trust?

According to the latest company reports, the top 5 largest holders of GBTC shares are:

What other products does Grayscale Investment offer?

Grayscale provides investors with a range of similar trusts that track a variety of different cryptocurrencies, including;

Grayscale also allows accredited investors to gain exposure to a basket of cryptocurrencies through the Grayscale Digital Large Cap Fund. This allows investors to diversify across multiple crypto-assets and reduce risk. The fund contains bitcoin (BTC), bitcoin cash (BCH), litecoin (LTC), and ether (ETH). For a time, the basket of assets also contained XRP. However, following the SEC lawsuit against Ripple over the asset, it was decidedly removed. Shortly after, the single-asset Grayscale XRP Trust was liquidated.

Each share of the Digital Large Cap Fund entitles the holder to: 0.00047385 BTC, 0.00047433 BCH, 0.00166948 LTC and 0.00286382 ETH (respectively). On Dec. 21, 2020, Grayscale reduced the annual fee attached to this product from 3.0% to 2.5%.

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The Grayscale Bitcoin Trust: What It Is and How It Works - CoinDesk - Coindesk

Over the past couple of years, blockchain technology and cryptocurrencies have crept up from the shadowy basements of computer geeks and nerds and is slowly finding its way into mainstream acceptance. Nowadays, its hard to engage in online financial transactions without the likes of Bitcoin, Ripple, Ehtereum, and Lite coin coming up. And Online Poker is no exception. Many poker and sports gambling sites are now, in fact, accepting cryptocurrency payments as deposits. According to Beastsofpoker.com, over $2 million worth of Bitcoin is wagered each our at online poker sites and casinos.

But despite this, most people still have no clue about what goes on behind the working of cryptocurrencies. Questions are often asked on what they are exactly. What makes Bitcoin and cryptocurrencies special? And most importantly, what kind of impact does Bitcoin have on online poker?

To break it down, cryptocurrencies are digital currencies secured by cryptography that you can use to buy services and goods online. However, unlike other online transactions, these currencies use a more secure online ledger, thus limiting fraud and identity theft as much as possible. In fact, each transaction is recorded and globally recognized, which makes it almost impossible to hack or forge.

People also argue that because the decentralized computer networks built on blockchain are behind the transfers, governments cant seize or freeze your deposits. On top of that, unlike the traditional banks, most of these cryptocurrency exchanges dont charge transaction fees.

With all these benefits, you might be wondering why there isnt a surge of more cryptocurrencies out there. Well, on the contrary, there are presently as many as 1,000 virtual currencies operating all over the world. However, being the industry leader, Bitcoin is the most popular. In the last two years alone, its value has grown by over 1,000%. It is also the most readily accepted in online poker among various websites. In fact, the majority of millionaires are already investing in crypto.

The acceptance of Bitcoin to the online poker community can be traced back to the Black Friday in Poker, an event that occurred in 2011 when the United States Department of Justice indicted the three major figureheads in online poker in the country. Big sites were closed up, and soon after, major payment processors like Netteler started leaving the online gambling realm. Likewise, banks started rejecting deposits, making it impossible for players to place deposits and receive payments.

It was then that a group of poker professionals came up with the idea to look for an alternative a fluid financial tool that would allow direct connection between poker sites and players. Bitcoin was the most viable option. And so, the SealsWithClubs (SWC) poker site was formed an Us-friendly Online Poker room that cut out the middlemen like banks and accepted Bitcoin only.

Up until then, Bitcoin was still largely a foreign concept and was notoriously difficult to acquire. People would either mine it or perform cash for Bitcoin swaps. Despite its relatively small size, SWC still made its mark in the online poker playfield, even emerging top ten best US-friendly poker sites at the time.

Its existence alone showcased the possibilities of Bitcoin peer to peer transactions and set the avenue for other online gambling sites. Eventually, other online poker sites, including sportsbooks and online casinos, jumped into the mix, taking advantage ofBitcoins smooth mode of payments.

As weve seen, Bitcoin is not the only cryptocurrency in the game out there. Others like Ethereum, Litecoin, and Bitcoin Cash are equally as legitimate and accepted in online gambling sites. However, Bitcoin still has a significant lead over the others in terms of popularity.

So why do online poker sites and casinos love Bitcoin so much? Well, other than the decentralization and security factor, there are a few other reasons.

Perhaps the main reason why online gambling sites gravitate towards Bitcoin is that there are almost no restrictions made on transactions. You see, following the events of Black Friday, the government banned any gambling businesses from operating in states where online gambling was illegal. As a result, banks complied with this law, rejecting several transactions relating to offshore gambling. However, while the government might influence banks and other financial institutions, they cannot exert the same on Bitcoin. Overall, with Bitcoin, customers get to make their deposits and withdrawals without interference.

The other good thing about Bitcoin is that it doesnt come with any charges on deposits and withdrawals like banks. This saves money for both the players and the poker site, which was originally responsible for the withdrawal charges. With Bitcoin, gamblers instead only pay a significantly smaller fee to the miners when making withdrawals or deposits.

Theres no denying now that cryptocurrencies are trending these days. They have sparked people worldwide, and now everybody wants to try this new currency in town. In a bid to attract these curious crowds, any newly developed online poker site or casino tries to capitalize on the trend, launching with a cryptocurrency provision.

From the look of things, Bitcoin is clearly not going anywhere. For as long as the unregulated markets are present, there will be a place for decentralized currency in the online poker gambling realm. However, it is still less popular in the states where online gambling is legalized. Theres simply no need for it since most people in these countries can gamble already freely through other financial instruments.

It is also noteworthy that it is important to take care when gambling with unlicensed sites in states that have legalized gambling. Although Bitcoin and other cryptocurrencies may create an avenue for it, such states have regulations to protect their legal poker market and are quite vigilant in taking action against illegal gambling activities.

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The Impact of Bitcoin on Online Poker - TechRound

Bitcoin is the talk of the global financial markets as the digital currency is seeing a huge trading frenzy. With Tesla acquiring $1.5 billion of the cryptocurrency, Bitcoins price has zoomed into the stratosphere. One Bitcoin is now worth about $45,500, higher by 57% in 2021; even more than 25 ounces of gold. Just before the pandemic struck in March last year, the digital currency was trading even below $5,000.

Now an important debate raging globally is what is in store for Bitcoin, and where lie the risks?For instance, is the demand for a digital currency as an alternative asset class here to stay? Are digital currencies substitutes for traditional asset classes like gold, and can one easily and quickly shift between assets? Or is this just a speculative bubble gripping global investors?

No doubt, the digital currency has come a long way, and it is being seen more than just an alternative investment fad. Ray Dalio, the billionaire hedge fund manager of Bridgewater Associates, puts it succinctly in a recent client note: It seems to me that Bitcoin has succeeded in crossing the line from being a highly speculative idea that could well not be around in short order to probably being around and having some value in the future.

Folks at Bridgewater Associates note that Bitcoin offers stable and limited issuance that cannot be devalued by central bank printing.

While about 90 percent of the Bitcoin supply is already mined, new issuance will slow even every few years. In fact, the currency will never be fully mined. Thats one feature that seems to be encouraging digital cryptocurrency collectors and speculators. While there is a limited supply of Bitcoins, digital currencies are mushrooming at a rapid pace. There are more than 4,000 cryptocurrencies, which means that there is unlimited supply of these currencies.

Bitcoins advantage is that it has a more widespread acceptance over other digital currencies. Bitcoin commands a lions share of more than 75 percent of the total cryptocurrency market-cap. Even with other cryptocurrencies such Bitcoin Cash, Litecoin which have features similarly to Bitcoin such as limited supply, the latter has been more in demand. In fact, many Bitcoin enthusiasts are seeing Bitcoin as a form of digital gold.

On the other hand, government bonds hardly offer high returns in this zero-to-low interest rate environment even as currencies across the globe are depreciating. Although, Bitcoins dont offer any yield as such much like gold, that has not been a disadvantage in this low rate environment.

Nevertheless, Bitcoins price movements have been sharp and volatile compared to assets like gold, real-estate or other safe-haven currencies, diminishing its appeal as an alternative asset class.

Other Disadvantages

There are some other evident drawbacks. Dalio notes that it is unclear whether Bitcoin can provide diversification when portfolios need it most, or act as an adequate hedge against inflation. Bitcoin is also a relative newcomer among assets, and so it does not have a history to determine whether the asset class can indeed protect and enhance returns on a portfolio.

Bitcoin has generally appreciated alongside rising inflation expectations, but its longer-term historical relationships with inflation and gold have been relatively weak, said the Bridgewater note.The vast majority of people and governments are not still using it as a reserve asset like gold in their balance sheets, which also include large global institutional fund allocators.

Bitcoins large trading frenzy and high turnover is due to the rise in high-frequency traders, and the rise of derivatives on them. High-profile buyers such as Tesla are further fuelling investor interest. Its also driving Bitcoins higher turnover with trading volumes increasing more than gold. But this is due to asset-churning and speculation over long-term risk-raking, points Bridgewater.

This could also be a classic bubble-like behaviour. Leverages on Bitcoins have increased phenomenally which has pushed prices higher, further heightening risks.

The digital asset also faces major regulatory risk. While institutional investors may increase allocation if it is regulated, governments could also stymie its growth if the alternative proves to be more successful, or emerge as a big threat to fiat currency. Authorities have already been hollering that Bitcoin is also a conduit for money laundering.

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Ray Dalio on why Bitcoin is zooming and why it faces hurdles as an alternative asset - Moneycontrol

Bitcoin Cash USD is currently on bullish momentum. At 12:04 EST on Saturday, 6 February, Bitcoin Cash USD is at $474.20 and up by 9.14% in the last 24 hours.

Over the last six hours, Bitcoin Cash USDs higher value was $480.17 and the lower value was $474.20.

Over the last twelve hours, Bitcoin Cash USDs higher value was $488.40 and the lower value was $468.87.

In relation to Bitcoin Cash USDs daily highs and lows, its 9.761% up from its trailing 24-hour low of $432.03 and 2.907% down from its trailing 24-hour high of $488.40.

About Bitcoin Cash USDs yearly highs and lows, its 240.612% up from its 52-week low and 24.706% down from its 52-week high.

Bitcoin Cash USDs last day, last week, and last months average volatility was 6.09%, 4.04%, and 5.64%, respectively.

Bitcoin Cash USDs last day, last week, and last months high and low average amplitude percentage was 6.80%, 7.42%, and 12.19%, respectively.

Accelerate files preliminary prospectus for accelerate Bitcoin ETF. According to Business Insider on Wednesday, 3 February, "CALGARY, AB, Feb. 2, 2021 /CNW/ -Accelerate Financial Technologies Inc., ("Accelerate") is pleased to announce that it has filed and obtained a receipt for a preliminary prospectus with the Canadian securities regulators for Accelerate Bitcoin ETF ("ABTC")."

Goldman Sachss rahmani strikes warning over Bitcoin value. According to Bloomberg Quint on Wednesday, 3 February, "The wild swings in the price of Bitcoin prove its not a real unit of value, though blockchain technology "is here to stay," according to Goldman Sachs Group Inc.s Sharmin Mossavar-Rahmani.", "Rahmanis skepticism about Bitcoins intrinsic value echoes that of European Central Bank governing council member Gabriel Makhlouf, who said last month Bitcoin investors should be prepared to "lose all their money." Still, the cryptocurrency has plenty of high-profile proponents."

Bitcoin proselytizer saylor says over 1,000 firms join webinar. According to Bloomberg Quint on Wednesday, 3 February, "The chief executive officer of MicroStrategy Inc. and Bitcoin proselytizer made the projection at his companys World Now global conference that featured breakout sessions on the future of Bitcoin and how corporations can best position themselves to capitalize on the digital token. ", "Michael Saylor says he sees an "avalanche" of companies moving their cash into Bitcoin over the next 12 months."

Klarna CEO cautions executives promoting Bitcoin investments. According to Bloomberg Quint on Thursday, 4 February, "Michael Saylor, CEO of MicroStrategy Inc. and a Bitcoin proselytizer, said this week at his companys World Now global conference that he sees an "avalanche" of companies moving their cash into Bitcoin over the next 12 months."

Bitcoin declines after bouncing off top of recent price range. According to Bloomberg Quint on Thursday, 4 February, "A strengthening dollar since the start of the year has kept Bitcoin stuck in a consolidation phase, but that could be ending soon, according to Ed Moya, senior market analyst at Oanda Corp."

Only 15% of Bitcoin traders are women, broker study shows. According to Bloomberg Quint on Friday, 5 February, "said the percentage of women holding Bitcoin on its platform increased from just 10% a year ago.", "As Bitcoin prices boomed over the past year, with millions of people around the world signing up for day-trading accounts during the pandemic, it remains largely a hobby of young men. "

According to Business Insider on Friday, 5 February, "The price of Bitcoin skyrocketed in 2020, prompting a wave of new investors to sign up to various trading platforms. "

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Bitcoin Cash USD On Bullish Momentum: 9.14% Up In The Last 24 Hours - Via News Agency

The Central Bank of Kenya in a historical decision has decided to switch to use Bitcoin as a Reserve currency in order to resolve growing financial problems in the country as per a report from Daily News Arena.

Patrick Njoroge, Central Bank Governor said that the decision was taken after considering numerous factors including a shortage of foreign currency reserves, increase velocity of money, and shield Kenya from exploitative loans that threaten the sovereignty of Kenya. He explained,

Our decision to shift to Bitcoin is both tactical and logical. Our currency has always been the punching bag for the International Monetary Fund which always claims that the Kenya shilling is overvalued. This has led to too much pressure on the Kenyan Shilling and this has a negative effect on the economy. We are losing too much simply because someone at IMF woke up on the wrong side of the bed. Bitcoin will put an end to this.

The Central Bank Governor reportedly said that they intend to use Bitcoin to reduce their growing foreign exchange losses and help them reduce their national debt. The decision should not come as a surprise to many as Kenya has emerged as the leader in mobile money and have also used bitcoin and other cryptocurrencies as the bridge currency.

The decision by the Kenyan central bank is in quite a contrast to the Nigerian Central Banks recent decision to impose a banking ban on crypto traders and exchanges in the country. The decision by the Kenyan central bank also comes on a day when the US Treasury Secretary claimed that Bitcoin would never find its way into the central banks.

The institutions have already started using Bitcoin as a Treasury Reserve asset by converting a portion of their treasury cash into Bitcoin. Now the governments especially the developing nations financially crippled by trade sanctions and a declining national economy.

The article was reportedly published by a Satire Website

To keep track of DeFi updates in real time, check out our DeFi news feed Here.

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Central Bank of Kenya to Reportedly Use Bitcoin as Reserve Currency - Coingape

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Yesterday, it was the 33rd largest cryptoassets by market capitalization, today it was 7th, before dropping to the 12th position. Created as a joke in 2013, dogecoin (DOGE), is experiencing a wild ride for the second day now. (Updated at 11:41 UTC: updates throughout the entire text).

At the time of writing (11:33 UTC), DOGE trades at USD 0.04722, crashing from USD 0.782 reached earlier today. The price is still up by 270% in a day and 479% in a week. It rallied by 951% in a month and 1,832% in a year.

DOGE price chart:

As reported, yesterday, the rally started after "WSB Chairman", who claims to be the "Chairman of WallStreetBets," the r/wallstreetbets subreddit, with 5.6m (was 4.6m yesterday) users, responsible for the GameStop pump this month, asked about Dogecoin. And it was enough to send DOGE to the top 10 Club in one day.

The Chairman has a question today too:

This is the second coordinated DOGE pump in less than a year. Last summer, the TikTok community unsuccessfully tried to lift the price of the coin to USD 1.

DOGE market capitalization (USD 9.3bn) is now bigger than chainlink (LINK)'s (USD 9bn), litecoin (LTC)'s, stellar (XLM)'s. Bitcoin cash (BCH) and binance coin (BNB) have also been left behind.

The 24-hour DOGE trading volume now stands at USD 27.6bn. Earlier today, it was even higher than ethereum (ETH)'s trading volume, which is now above USD 45.5b.

Meanwhile, Google searches for "dogecoin" surpassed "bitcoin" this week.

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Learn more: Cubans Turn to Bitcoin, Ethereum and Dogecoin as US Sanctions BitePenny Altcoins Rally While TikTokers & Co Go on a Pumping SpreeDogecoin Pump Ends as Price Dumps 40% From TopThis is Why Dogecoin is Better than 'Altcoins-Degenerators'

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Dogecoin Blasts Into Top 10, And Leaves - Cryptonews

A mixed start to the day saw Bitcoin fall to a late morning intraday low $31,987.0 before making a move.

While steering clear of the first major support level at $30,927, Bitcoin fell through the 23.6% FIB of $33,008.

Finding late morning support, Bitcoin rallied to an early afternoon intraday high $38,710.7 before hitting reverse.

Bitcoin broke through the first major resistance level at $34,809 and the second major resistance level at $36,246.

More significantly, Bitcoin also broke back through the 23.6% FIB of $33,008.

The reversal, however, saw Bitcoin slide back through the major resistance levels to revisit sub-$34,000 levels.

Steering clear of the 23.6% FIB, Bitcoin moved back through to $34,000 levels to deliver the upside on the day.

The near-term bullish trend remained intact, in spite of the recent sell-off. For the bears, Bitcoin would need to slide through the 62% FIB of $18,504 to form a near-term bearish trend.

Across the rest of the majors, it was a mixed day on Friday.

Chainlink (-1.37%) and Polkadot (-2.97%) saw red to buck the trend on the day.

It was a bullish day the rest of the majors, however.

Ripples XRP rallied by 6.89% to lead the pack

Ethereum (+3.47%), Crypto.com Coin (+3.65%), and Bitcoin Cash SV (+3.47%) also found strong support.

Binance Coin (+0.41%), Cardanos ADA (+0.60%), and Litecoin (+0.88%) trailed the front runners, however.

In the current week, the crypto total market cap fell to a Wednesday low $847.51bn before rising to a Friday high $1,136.27bn. At the time of writing, the total market cap stood at $997.86bn.

Bitcoins dominance rose from a Monday low 62.54% to a Friday high 65.93%. At the time of writing, Bitcoins dominance stood at 64.21%.

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The Crypto Daily Movers and Shakers January 30th, 2021 - FX Empire

Metal Pay CEO Marshall Hayner mentioned bitcoin's growing role as an inflation hedge, while early ... [+] bitcoin investor Erik Finman sees the asset's recent price correction as healthy.

Bitcoin (BTC) had a standout year in the price category last year, rising from $3,870 in March, all the way past its 2017 record highs near $20,000. By January 2021, cryptos pioneer asset found itself priced at almost $42,000 per coin. Bitcoin also gained a notable amount of adoption in the latter half of 2020 as a number of mainstream companies, such as MicroStrategy MSTR and MassMutual, bought large amounts of the asset. Marshall Hayner, the CEO and founder of digital asset payment solution Metal Pay, said he thinks BTC has entered an acceptance stage on its adoption journey.

Bitcoin has reached all-time highs over the past few months, and with this meteoric rise, institutions, hedge funds, and major corporations have begun to add digital assets to their balance sheet, Hayner told me in a January 26 message. As the oldest, most liquid, and most well-known cryptocurrency, bitcoin is rapidly becoming a hedge against rampant inflation of fiat currency (USD, EUR), he said. This is what I'm calling the fourth wave of cryptocurrency adoption, he explained. The first three waves were exuberance, speculation, utility and finally acceptance.

[Ed note: Investing in cryptocoins or tokens is highly speculative and the market is largely unregulated. Anyone considering it should be prepared to lose their entire investment.]

Launched in January 2009, bitcoin started out worth virtually nothing in U.S. dollar terms. In 2010, programmer Laszlo Hanyecz famously paid 10,000 BTC for two pizzas. The digital asset has obviously risen significantly in price since then, surpassing milestone landmarks of $1, $100, $1,000 and $10,000 through the years. Along the way, parties have created thousands of other cryptocurrencies, many of which hold varying value propositions, although some industry participants, known as bitcoin maximalists, argue bitcoin as the only option.

Bitcoin has gained significant traction over the past year as a number of mainstream financial players unveiled their positions in the asset, making BTC allocation more commonplace than years prior. MicroStrategy allocated more than $1 billion of capital toward bitcoin. Among a number of other entities who put sizable amounts of money toward bitcoin, MassMutual spent $100 million on the digital asset.

In October 2020, payments giant PayPal PYPL also furthered crypto adoption when it announced the addition of bitcoin, ethereum, litecoin and bitcoin cash to its platform.

As we see major fintech firms like PayPal adding cryptocurrency and the first wave of national crypto banks under the OCC we are reaching mass acceptance and understanding of the true value of bitcoin and cryptocurrency, Hayner said. In July 2020, national banks received the ok from the U.S. Office of the Comptroller of the Currency (OCC) to custody crypto assets. In January 2021, the OCC cleared institutional digital asset platform Anchorage to function as a national bank.

I expect bitcoin and smaller cap altcoins to absolutely blow some minds in 2021, Hayner said. In addition, I'm expecting some major utility especially around stablecoins, NFT, innovative decentralized lending/trading models, oracles, and payment systems, he added, referring to a few niches of the crypto space that picked up interest in 2020, including non-fungible tokens (NFTs).

After bitcoins price run up to nearly $42,000 on January 8, the asset retraced down below $30,000 a few times amid sideways trading action over the past few weeks, according to TradingView data. I think we are seeing the very healthy retrace that many expected, Erik Finman told me in a January 26 message. Finman bought bitcoin back in 2011, later becoming a millionaire from his investment before the age of 20.

As much as people want bitcoin to just ride straight on up forever, there are always going to be bumps along the way, he said, referring to bitcoins recent price rally up past $40,000. Honestly, right now I think a lot of people have their eyes on meme-stocks like GameStop GME ! Stock shares for the popular video game store GameStop recently soared in price.

Over the next couple of weeks I expect the price to maintain, barring some relevant news event, Finman said of bitcoin. After that we will probably see new growth and a new all-time high once more, he added.

Bitcoin is a game of patience. Ultimately we must focus on adoption, on technological innovation, and on education. I understand it's hard for many to not watch the price all day when they have so much invested, but I believe many would find it rewarding to look away for a few minutes and keep their eyes on the prize.

Crypto still has its doubters, however, such as financial commentator Peter Schiff. In one of his recent tweets, Schiff, a known bitcoin skeptic, said the asset carries traits of scam types, including Ponzi schemes. Additionally, as per a January 11, 2021 tweet, billionaire Mark Cuban compared the scene in the crypto space to the dot-com bubble, which popped in the early 2000s, although he did say he expects some assets, such as btc and ethereum (ETH), to succeed in the long run.

Disclaimer: I actively trade cryptocurrencies, as well as hold varying amounts of BTC, ETH, LTC, ZEC, BCH, LINK, VGX, HBAR, XLM and ADA.

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Crypto Has Entered Its Fourth Stage Of Adoption, Industry Exec Says - Forbes

Bitcoin Cash USD is currently on bearish momentum. At 20:05 EST on Friday, 29 January, Bitcoin Cash USD is at $404.53 and down by 6.82% in the last 12 hours.

Over the last six hours, Bitcoin Cash USDs higher value was $408.25 and the lower value was $403.77.

Over the last twelve hours, Bitcoin Cash USDs higher value was $432.13 and the lower value was $403.77.

About Bitcoin Cash USDs daily highs and lows, its 1.592% up from its trailing 24-hour low of $398.19 and 6.387% down from its trailing 24-hour high of $432.13.

In relation to Bitcoin Cash USDs yearly highs and lows, its 190.569% up from its 52-week low and 35.768% down from its 52-week high.

Bitcoin Cash USDs last day, last week, and last months average volatility was a positive 3.64%, a negative 1.07%, and a positive 1.54%, respectively.

Bitcoin Cash USDs last day, last week, and last months high and low average amplitude percentage was 6.86%, 8.60%, and 13.08%, respectively.

Skybridge's anthony scaramucci talks up new Bitcoin fund, crypto's 'exponential liftoff'. According to Business Insider on Wednesday, 27 January, "The SkyBridge Bitcoin Fund LP aims toprovidemass-affluent investors with an institutional-grade vehicle to gain exposure to Bitcoin. ", "SkyBridge initiated a position, valued at about $310 million earlier this month, in funds investing in Bitcoin during November and December 2020."

Cryptos young believers stoke a craze for Bitcoin penny stocks. According to Bloomberg Quint on Wednesday, 27 January, "Marathon Patent Group has computers in Montana and North Dakota, and recently announced it bought $150 million worth of Bitcoin for its Treasury reserves.", "And the fact that Bitcoin miners tend to be unprofitable or just barely in the black isnt much of a deterrent."

Bitcoin tumbles back below $30,000 as record momentum fades. According to Bloomberg Quint on Wednesday, 27 January, "Companies such as MicroStrategy Inc., Square Inc., and crypto miner Marathon Patent Group Inc. have all added some of their companys cash reserves into Bitcoin amid the rally."

Bitcoin might break down altogether, BIS head carstens warns. According to Bloomberg Quint on Wednesday, 27 January, "Investors must be cognizant that Bitcoin may well break down altogether," because the system becomes vulnerable to majority attacks as it gets close to its maximum supply of 21 million coins, BIS General Manager Agustin Carstens said in a speech for the Hoover Institution on Wednesday."

Microstrategy bond buyers rewarded with win-tie Bitcoin play. According to Bloomberg Quint on Thursday, 28 January, "When the enterprise software maker issued convertible debt in December with the intention of using the proceeds to add to its Bitcoin pile, the company opened a backdoor for bond investors to play the crypto craze.", "Even if Bitcoin goes down 30% to 40%, the company still has enough to pay this bond off easily."

Ray dalio calls Bitcoin one hell of an invention, considers it for new funds. According to Bloomberg Quint on Thursday, 28 January, "While Bitcoin has the potential to make investors "very rich" as well as "disrupt the existing monetary system," there are risks. ", "Dalio said he thinks of Bitcoin as a "long-duration option on a highly unknown future" and investing in it means recognizing the potential to lose about 80%."

Bitcoin investors May lose everything, central banker warns. According to Bloomberg Quint on Friday, 29 January, "On Friday, Bitcoin rallied above $35,000, with brokers attributing the move to Elon Musk mentioning the cryptocurrency in his bio page on Twitter.", "Still, Makhlouf doesnt see "financial stability issues at the moment arising from Bitcoin itself."

Bitcoin has leapt 17% after billionaire Elon Musk changes his twitter bio to '#Bitcoin'. According to Business Insider on Friday, 29 January, "Clearly the move is being cheered by the Bitcoin bulls," he said, and called the markets feverish trading around hot securities like Bitcoin and GameStop "risky."

Evolve files preliminary prospectus for Bitcoin ETF. According to Business Insider on Friday, 29 January, "TORONTO, Jan. 29, 2021 /CNW/ EvolveFunds Group Inc.("Evolve")is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for the Bitcoin ETF ("EBIT" or "the Fund"). ", "The Funds holdings will be priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for bitcoin denominated in U.S. dollars."

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Bitcoin Cash USD On Bearish Momentum: 6.82% Down In The Last 12 Hours - Via News Agency

Bitcoin Cash USD is currently on bullish momentum. At 05:12 EST on Friday, 29 January, Bitcoin Cash USD is at $425.57 and up by 6.88% in the last 6 hours.

Over the last six hours, Bitcoin Cash USDs higher value was $425.57 and the lower value was $398.19.

Over the last twelve hours, Bitcoin Cash USDs higher value was $425.57 and the lower value was $398.19.

In relation to Bitcoin Cash USDs daily lows, its 9.065% up from its trailing 24-hour low of $390.20

Concerning Bitcoin Cash USDs yearly highs and lows, its 205.682% up from its 52-week low and 32.428% down from its 52-week high.

Bitcoin Cash USDs last day, last week, and last months average volatility was a positive 3.64%, a negative 1.07%, and a positive 1.54%, respectively.

Bitcoin Cash USDs last day, last week, and last months high and low average amplitude percentage was 6.86%, 8.60%, and 13.08%, respectively.

According to Business Insider on Tuesday, 26 January, "Of the two, the Roth version might have an edge, says Bogner, especially "if you are of the mindset that Bitcoin is going to explode" in price in the future. "

Bitcoin seen topping $50,000 long term as it vies with gold. According to Bloomberg Quint on Tuesday, 26 January, "Were talking about Bitcoin over the next three, five, 10 years slowly inching away at golds market capitalization," Vijay Ayyar, head of Asia Pacific with crypto exchange Luno in Singapore, said in an online question and answer session with Bloomberg Tuesday. ", "Predicting a price for Bitcoin is challenging but its likely to rise longer term as funds and family offices assign 0.5% or 1% of their portfolios to it, Long added."

Is Bitcoin mining worth the cost?. According to Bloomberg Quint on Tuesday, 26 January, "One Bitcoin transaction would generate the CO2 equivalent to 706,765 swipes of a Visa credit card, according to Digiconomists closely-followed index, albeit with none of the convenience of plastic. ", "Butits notable that the non-virtual side of Bitcoin buying -namely the energy consumption needed to mine and maintain it -gets far less attention. "

South Africa cracks down on Bitcoin after alleged ponzi scheme. According to Bloomberg Quint on Tuesday, 26 January, "South Africas finance-industry regulator wants more power to prosecute perpetrators of fraud and oversee dealing in cryptocurrencies after the collapse of a Bitcoin trader, alleged to be the countrys largest Ponzi scheme.", "MTI which in November claimed it had 260,000 members and 23,000 Bitcoin now worth about $740 million was placed in provisional liquidation last month after clients battled to withdraw funds. "

Skybridge's anthony scaramucci talks up new Bitcoin fund, crypto's 'exponential liftoff'. According to Business Insider on Wednesday, 27 January, "SkyBridge initiated a position, valued at about $310 million earlier this month, in funds investing in Bitcoin during November and December 2020.", "Its already happening," he said, citingBlackRock Inc.s adding Bitcoin futures as an eligible investment to two of its funds."

Cryptos young believers stoke a craze for Bitcoin penny stocks. According to Bloomberg Quint on Wednesday, 27 January, "And the fact that Bitcoin miners tend to be unprofitable or just barely in the black isnt much of a deterrent.", "Marathon Patent Group has computers in Montana and North Dakota, and recently announced it bought $150 million worth of Bitcoin for its Treasury reserves."

Bitcoin tumbles back below $30,000 as record momentum fades. According to Bloomberg Quint on Wednesday, 27 January, "Companies such as MicroStrategy Inc., Square Inc., and crypto miner Marathon Patent Group Inc. have all added some of their companys cash reserves into Bitcoin amid the rally."

Bitcoin might break down altogether, BIS head carstens warns. According to Bloomberg Quint on Wednesday, 27 January, "Investors must be cognizant that Bitcoin may well break down altogether," because the system becomes vulnerable to majority attacks as it gets close to its maximum supply of 21 million coins, BIS General Manager Agustin Carstens said in a speech for the Hoover Institution on Wednesday."

Microstrategy bond buyers rewarded with win-tie Bitcoin play. According to Bloomberg Quint on Thursday, 28 January, "So when the price of Bitcoin doubled, so did MicroStrategys shares, pushing the convertible deep into the money. ", "King estimates the value of the companys Bitcoin in the range of $800 million to $1.4 billion, assuming proceeds of the convertible offering were used to fund more buying. "

Ray dalio calls Bitcoin one hell of an invention, considers it for new funds. According to Bloomberg Quint on Thursday, 28 January, "Bridgewater Associates founder Ray Dalio said Bitcoin is "one hell of an invention" and hes considering cryptocurrencies as investments for new funds offering clients protection against the debasement of fiat money.", "While Bitcoin has the potential to make investors "very rich" as well as "disrupt the existing monetary system," there are risks. "

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Bitcoin Cash USD On Bullish Momentum: 6.88% Up In The Last 6 Hours - Via News Agency

During the last two months, tether transactions have spiked considerably. More recently, however, USDT transactions on the Tron network have outpaced the number of tether transfers on the Ethereum blockchain. Despite a whole lot more ERC20-based tethers in the wild, the minted stablecoin using the TRC20 standard has seen a much larger transaction count all year long.

Tether (USDT) is a dominant stablecoin and it is used on a great number of exchanges as the token is paired with nearly every digital asset that has a market value. USDT commands the third-largest market capitalization with a $24.9 billion valuation today.

During the last 24 hours market data shows that tether (USDT) has seen $17 billion in global trade volume. In the early days, tether was minted on the Omni Layer network but for the last four years, USDT tokens have migrated to other blockchains.

In 2021, USDT is issued on a myriad of chains including Ethereum, Tron, Bitcoin Cash, EOS, Liquid, Solana, and Algorand. A great majority of tethers are minted using Ethereums ERC20 standard, and these tokens have seen significant transaction counts in recent years.

However, this year has been a different story as the tether (USDT) transaction count stemming from the Tron network has been outperforming its ERC20 rival. Every single day in 2021, Tron-based tether (USDT) transaction counts (tx count) have been larger.

For instance, data from Coin Metrics shows the last count three days ago, TRC20 tethers saw 247,000 transactions while the ERC20 tethers saw 179,000 that day. Now even though TRC20 tethers have a larger tx count, the aggregated volume of ERC20 USDTs is still 2x more valuable in terms of settlement.

TRC20-based tethers have beat Ethereum-based tether tx counts week after week for the entire year. Of course, cryptocurrency proponents suspect that the migration from Ethereum to Tron as far as accelerated transactions is likely due to rising ETH network fees.

Fees on the Tron network are near non-existent and Coin Metrics data shows the chain processes 3.1 million transactions per day in comparison to BTCs 254,000+ transactions per day on January 24, 2021.

Ethereum transactions per day are currently over a million every 24 hours but the fees to transact with ether are much higher than the Tron networks negligible transfer costs.

At the time of publication, the median transaction fee on the Ethereum network according to data from bitinfocharts.com shows fees are currently around $4.80 per transaction. Theres been a number of days in 2021, where ETH transaction fees have jumped above the $5 range.

What do you think about the number of transactions stemming from tether on the Tron network exceeding the tether transactions on Ethereum? Let us know what you think in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, Coin Metrics, Bitinfocharts.com,

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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USDT Transactions on Tron Surpassed Ethereum Tether Transactions Every Day in 2021 Altcoins Bitcoin News - Bitcoin News

Bitcoin price surged 20% after Elon Musk updated his Twitter bio with #Bitcoin. BTC broke the main USD 35,000 resistance and even climbed towards USD 38,000. It is currently (12:30 UTC) holding gains above USD 36,000 and it might soon revisit the USD 38,000 resistance.

Most major altcoins are trying to catch up. ETH/USD is up almost 10% and it broke the USD 1,400 resistance. XRP/USD spiked above USD 0.300, but there was no proper close.

Total market capitalization

The past few hours saw a massive increase in bitcoin price above the USD 34,500 and USD 35,000 resistance levels. BTC gained almost 20% and it even broke the USD 37,200 resistance. There was a spike almost to USD 38,000 before there was a correction. It is now trading well above USD 36,000. If the current trend remains intact, there are chances of a fresh run towards the USD 38,000 level.On the downside, the price might remain stable above USD 35,000 (the recent breakout zone). Any more losses could lead the price towards USD 34,200.

Ethereum price struggled to follow bitcoin, but it still managed to pop above the USD 1,350 and USD 1,375 resistance level. ETH traded above USD 1,400 and it is struggling to gain momentum above USD 1,425. A close above USD 1,425 might open the doors for a surge towards the USD 1,480 and USD 1,500 levels.On the downside, the USD 1,375 level is a decent support (a multi-touch zone). The next major support could be near the USD 1,350 level.

Bitcoin cash price settled above the USD 400 level and it surpassed the USD 425 resistance. BCH is now consolidating gains and it seems like it might rise towards the USD 440 and USD 450 resistance levels. If there is a downside correction, the USD 405 and USD 400 levels could act as strong supports.Litecoin (LTC) cleared the USD 138 and USD 140 resistance levels. LTC is showing positive signs above USD 140 and it could continue higher towards the USD 145 and USD 150 levels. Any more gains could open the doors for a push towards the USD 165 resistance level.XRP price surged over 10% and it even spiked above the USD 0.300 level. However, there was no close above USD 0.300. As a result, there was a fresh decline, but the price is stable above USD 0.280. It seems like the bulls might aim for another upside break above the USD 0.300 resistance level in the near term.

A few altcoins surged over 50%, including DOGE, WSB, SC, RVN, XVG, VGX, QNT, and FTM. Out of these, SC is gaining momentum above USD 0.008 and it is already up over 80%.

To sum up, bitcoin price is surging and it broke many important hurdles near USD 35,000 and USD 36,500. As a result, there are chances of a push towards USD 40,000 in the near term.

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Bitcoin Jumps To Almost USD 38K, Ethereum, Altcoins Try To Follow - Cryptonews

The American Cancer Society has set up a fund for crypto donations so the nonprofit can raise at least $1 million by early 2021. Together with The Giving Block, the U.S.-based voluntary health organization expects to collect funds via several cryptocurrencies.

According to the announcement, the cancer crypto fund seeks to provide funding to ongoing research initiatives. The move happens within the context of a strong decrease in donations over 2020 amid the COVID-19 pandemic.

The American Cancer Society says the donations flow plunged 50% in the last year the lowest number in this century. They commented on the motivations behind setting up a crypto fund:

The crypto communitys contributions will help re-establish crucial research funding for new discoveries and better treatments to save the lives of family and friends.

Per the official crypto fund website, donations can be made in bitcoin (BTC), bitcoin cash (BCH), ether (ETH), litecoin (LTC), zcash (ZEC), gemini dollar (GUSD), basic attention token (BAT) and chainlink (LINK).

The nonprofit health organization said that the first donor who contributes $250,000 or more would have the chance to name the fund. On the other side, donors with over $10,000 contributions will appear on the crypto funds wall of honor.

Jeff Klass, the interim chief digital officer at the American Cancer Society, commented on the announcement:

We want as many people to join us in our mission as possible. To do that, we need to ensure people can give to the fight against cancer when, where, and how they choose. We appreciate The Giving Blocks work to help make this possible.

Moreover, the American Cancer Society recognizes the emergency of cryptocurrency, specifically the impact cancer has across the crypto community.

Pat Duffy, a co-founder of The Giving Block, said the following about cryptocurrencies relevance in this kind of initiatives:

I believe cryptocurrency will play a pivotal role in curing cancer. () With bitcoin hitting a new all-time high, the creation of this new fund opens the door for the booming crypto market to save lives.

What do you think about this crypto cancer fund? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons, American Cancer Society

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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American Cancer Society Creates Its First Crypto Only Donation Fund News Bitcoin News - Bitcoin News

Bitcoin Cash USD is currently on bullish momentum. At 20:07 EST on Sunday, 24 January, Bitcoin Cash USD is at $451.97 and up by 5.93% in the last 6 hours.

Over the last six hours, Bitcoin Cash USDs higher value was $451.97 and the lower value was $426.67.

Over the last twelve hours, Bitcoin Cash USDs higher value was $451.97 and the lower value was $426.67.

Concerning Bitcoin Cash USDs daily lows, its 5.93% up from its trailing 24-hour low of $426.67

About Bitcoin Cash USDs yearly highs and lows, its 224.644% up from its 52-week low and 28.236% down from its 52-week high.

Bitcoin Cash USDs last day, last week, and last months average volatility was a negative 2.32%, a negative 2.04%, and a positive 2.49%, respectively.

Bitcoin Cash USDs last day, last week, and last months high and low average amplitude percentage was 5.65%, 10.78%, and 13.49%, respectively.

Why this analyst is cautioning Bitcoin investors to have A 'very strong stomach' amid plunge. According to Business Insider on Friday, 22 January, "Price Action: Bitcoin traded 11.3% lower at $30,712.41 at press time on Thursday.", "Why It Matters: Bitcoin has seen a major correction in the last two weeks after a dizzying rally that started in July last year saw it cross $40,000 from trading below the $10,000 level."

Iran blames 1600 Bitcoin processing centers for massive blackouts in tehran and other cities. According to Business Insider on Saturday, 23 January, "According to local media, state-owned electricity firm Tavanir shut down a large Iranian-Chinese Bitcoin farm amid the power outages.", "Mohammad Hassan Motavalizadeh, the head of Tavanir, said that 45,000 illegal Bitcoin machines cheaply consuming 95MWh of electricity had been confiscated by the police, it also added."

According to Business Insider on Saturday, 23 January, "And this was a Bitcoin OTC name that has been consolidating for months.", "For the Bitcoin theme, Hasson had identified over 10 stocks on the NASDAQ as well as over-the-counter stocks to watch and monitor everyday."

Bitcoin outlook: my mantra for 2021 can make you money. According to Business Insider on Saturday, 23 January, "The post Bitcoin Outlook: My Mantra for 2021 Can Make You Money appeared first on InvestorPlace."

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Bitcoin Cash USD On Bullish Momentum: 5.93% Up In The Last 6 Hours - Via News Agency

National survey finds 13.5% of UK population are current or previous investors in digital assets, up 152% from previous studies

LONDON, Jan. 29, 2021 /PRNewswire/ -- New data from Gemini, the cryptocurrency exchange and custodian, presents the demographic profile of existing and potential crypto investors in the UK market. The results of a nationally representative survey of 2,000 respondents challenge certain long-held stereotypes about consumer engagement with digital assets, while reinforcing other past research.

The most significant trends are outlined in the Gemini State of Crypto Report 2021. The Report builds a picture of how factors such as gender, age, family status, educational attainment, income, location, technology usage, and the COVID-19 pandemic impact crypto investment.

Key findings include:

Blair Halliday, Head of UK at Gemini, said, "This new data demonstrates an increasingly diverse base engaging with crypto and indicates how the market is likely to evolve over the longer term. As the industry develops, there are more safe, secure, and regulated platforms available for trading and investing, meaning crypto has never been more accessible. We expect the reach of crypto to widen further, particularly as the 9.0% who are interested in crypto enter the market. The sector has a huge opportunity to educate the 38.7% of respondents who either do not know anything at all about crypto, or do not know enough to invest."

For more insights, download the full report athttps://www.gemini.com/state-of-uk-crypto

About Gemini Europe

Gemini Europe has offices in London and Dublin and is registered as an e-money institution in the UK by the Financial Conduct Authority. Gemini Europe provides individuals and institutions with trusted products and tools to buy, sell, and store cryptocurrencies like Bitcoin, Bitcoin Cash, Basic Attention Token (BAT), Dai, Ethereum, Litecoin, ChainLink (LINK) and Orchid (OXT).

SOURCE Gemini

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Gemini research reveals 2 in 5 crypto investors in the UK are women - PR Newswire UK

Bitcoin price is stable above USD 30,500 and USD 31,000. BTC is currently (13:00 UTC) attempting an upside break above USD 31,800 and USD 32,000. A close above USD 32,000 could open the doors for a larger increase in the coming sessions.

Besides, most major altcoins are showing signs of a fresh increase, including ethereum, EOS, XRP, XLM, LINK, BNB, OMG, NEO, TRX, bitcoin cash, DOT, litecoin, and ADA. ETH/USD is back above USD 1,300 and it seems like the bulls are aiming for a break above USD 1,350. XRP/USD is trading above USD 0.255 and it is likely to climb towards USD 0.285 or USD 0.292.

Total market capitalization

In the past two sessions, bitcoin price traded in a range above the USD 31,000 support zone. BTC is slowly moving higher towards the USD 32,000 resistance level. The next key resistance is near the USD 32,400 level, above which the bulls are likely to target a 5%-8% move in the near term.

If there is no clear break above USD 32,000 and USD 32,400, there are chances of a fresh decline. An initial support is near the USD 31,000 level. The main support is now forming near the USD 30,000 level, below which the price could dive towards USD 29,200.

Ethereum price is slowly gaining bullish momentum above USD 1,280. ETH even surpassed the USD 1,300 level and it is likely to continue higher. The next key resistance sits near USD 1,350. A close above USD 1,350 may possibly spark a sharp rally in the coming sessions.

If ETH fails to stay above USD 1,300, it could correct lower. An initial support is near USD 1,285. The key support for the current wave is near the USD 1,250 level.

Bitcoin cash price is struggling to clear the USD 400 and USD 405 resistance levels. If BCH settles above USD 405, there could be a slow and steady rise towards the USD 432 and USD 435 levels. On the downside, the USD 385 level is a short-term support, followed by the USD 370 level.

Litecoin (LTC) is up 4% and it is testing the USD 130 level. An immediate resistance is near USD 132. If there are more upsides, the bulls might aim a test of the USD 140 resistance level. On the downside, the USD 125 level is a decent support, followed by the USD 118 zone.

XRP price remained stable and it recovered above the USD 0.255 level. If it clears the USD 0.265 resistance, there could be a drift towards the USD 0.285 and USD 0.292 resistance levels. The main hurdle on the upside is still near the USD 0.300 level.

In the past few hours, many altcoins gained over 10%, including DOGE, 1INCH, LUNA, EGLD, CHSB, ZEN, RUNE, QNT, ALPHA, KSM, SC, ATOM, LINK, and FTM. Out of these, DOGE grabbed the market's attention with a massive rally above USD 0.014.

To sum up, the bitcoin price is stable above USD 31,000, but it must clear the USD 32,000 and USD 32,500 resistance levels. If not, there is a risk of a fresh drop to USD 30,000._____

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Bitcoin Holds Steady Above USD 30K, Ethereum and Altcoins Gain Traction - Cryptonews

Not a day goes by without bitcoin being in the news. And given the cryptocurrency's phenomenal price rise, from zero to approximately $32,000 in a little over a decade, you like many other individual investors may be tempted to buy in. But how?

Actually, you can invest in finance's newest asset via one of its most familiar vehicles: the IRA. Yes, you can buy bitcoin for a good old individual retirement account.

Cue the excitement? Maybe. In many ways, bitcoin investments are well-suited to an IRA. But, as with any investment strategy, there are pros and cons to consider.

Bitcoin is a type of cryptocurrency (sometimes called a digital or virtual currency) the oldest, and most popular of the dozen varieties available for trading and investment. So a bitcoin IRA is a type of investment retirement account that includes bitcoin within its portfolio.

Although these accounts may carry the name "bitcoin," they also allow you to invest in other cryptocurrencies, like ethereum, litecoin, and bitcoin cash.

You can't put bitcoin into a pre-existing, regular IRA that holds your stocks, bonds, ETFs, or mutual funds. Instead, you have to set up a special one, technically known as a self-directed IRA (SDIRA). The reason: The Internal Revenue Service (IRS) deems cryptocurrencies like bitcoin a type of property, which is off-limits to regular IRAs.

"A self-directed IRA has a little bit looser IRS rules, so you can hold things like property," or other alternative investments, confirms Victoria Bogner, a certified financial planner and chief executive officer of McDaniel Knutson.

In some ways, bitcoin IRAs work like regular IRAs. While you can set one up with any amount of funds, they have annual contribution limits set by the IRS: You can only contribute $6,000 a year for 2020 and 2021 (or $7,000 a year if you're age 50 or older). Any returns, income, or gains generated by the investments within them grow tax-free.

You can also establish a bitcoin IRA as either a traditional account (for which contributions are tax-deductible, and funds taxed upon withdrawal) or a Roth account (no tax break on contributions, but distributions are tax-free).

Of the two, the Roth version might have an edge, says Bogner, especially "if you are of the mindset that Bitcoin is going to explode" in price in the future. Roth IRAs are preferred by investors who project they'll be in a higher tax bracket when they retire and start withdrawing money from the account. Since the Roth is funded with after-tax dollars, they won't owe anything on their bitcoin gains even if the currency has gone up 10 or 20 times.

Bitcoin IRAs do operate differently in a few ways, though.

As the "self-directed" implies, these IRAs are directly managed by the account holder (as opposed to a financial advisor or money manager). And your regular brokerage, bank, or investment app probably doesn't handle them. Self-directed IRAs are only available through firms that specialize in the type of asset you're interested in.

So, to open a bitcoin IRA, you'd work with special custodians that can hold and deal in cryptocurrency. Some custodians require an application, walking you through the process. If you move forward, you can then fund these accounts via a rollover of funds from an existing IRA or another tax-advantaged account, or contribute new funds.

Some of the better-known, established companies that let you set up bitcoin IRAs include:

This is still a young field, and information on a firm may be hard to come by. Frankly, some are little more than sales platforms. So, no matter which custodian you're considering, be sure to do your due diligence on it.

Visit its website or call its customer service line to confirm and compare its fee structure, operations. Ask how your bitcoins will be stored, exactly, and about security procedures and measures you don't want your account holdings vulnerable to hackers.

There are plenty of positives to consider with bitcoin IRAs.

No investment is without risk. Potential issues also exist with bitcoin IRAs.

Quick tip: An IRA custodian should never promise your account is protected against losses due to a drop in your holdings' price or value. It's not. Protection against literal loss, due to theft or the firm going bankrupt, possibly. Protection from investment loss, never.

Bitcoin IRAs can offer an opportunity for investors who believe in the crypto's future, but who want some tax savings along with their gains. Plus, the ease of dealing with a familiar type of account.

But there can be higher fees and account minimums when compared to other IRAs, so determine whether the trade-off is appropriate for you. Bear in mind that there are other ways to hold bitcoin, in regular accounts on crypto trading platforms like Coinbase and Binance US.

If you decide to open a bitcoin IRA, choose a custodian carefully. And only commit to bitcoin an amount that you can afford to lose, and think long term. Says Bogner: "Twenty years later, hopefully it's worth more than what you put in."

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How to buy bitcoin in a IRA: Rules, benefits, risks, and where to buy - Business Insider - Business Insider

A U.S. court has sentenced Jerry Ji Guo, a resident of San Francisco, to an effective six months in prison for his role in a fraudulent initial coin offering (ICO). In addition to the prison term, the court ordered Guo to pay over $4 million in restitution. Further, Guo will also cooperate with the government in the identification and return of the stolen property.

In a statement, the United States Department of Justice (DOJ) says Guo, who pleaded guilty on August 26, 2019, had presented himself as an ICO consultant and promised his clients he would perform marketing and publicity services. However, instead of fulfilling his promises, Guo embezzled the clients cash and cryptocurrency.

As court documents show, a U.S. grand jury initially indicted Guo on November 15, 2018, charging him with eight counts of wire fraud, in violation of 18 U.S.C. 1343. However, the statement says Guo only pleaded guilty to one count while the rest of the charges were dismissed.

Meanwhile, in his remarks, the United States Attorney David L. Anderson, suggests that the countrys law enforcement has now caught up with crypto criminals. He says:

Some criminals believe mistakenly that cryptocurrency is beyond the reach of law enforcement. This case shows we can use criminal forfeiture to compensate fraud victims even when cryptocurrency is used in the fraud.

According to the DOJ statement, after Guos indictment, the government went on to obtain a stipulated application for a preliminary order of forfeiture on November 14, 2019. Further, the government also obtained warrants to seize the stolen cash and cryptocurrency while a final order of forfeiture against the stolen property was obtained on February 26, 2020.

In the meantime, the DOJ statement goes on to say that the Money Laundering and Asset Recovery Section, a component of the DOJs Criminal Division will use the victim restoration process to return stolen property to victims.

Do you think the DOJ will enjoy similar success in other ICO fraud cases? Tell us what you think in the comments section below.

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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US Court Sentences ICO Fraudster to 6 Months in Jail: Orders the Accused to Pay Over $4 Million in Restitution Regulation - Bitcoin News

Bitcoin is currently on bearish momentum. At 20:03 EST on Friday, 29 January, Bitcoin is at $34,357.20 and down by 11.62% in the last 12 hours.

Over the last six hours, Bitcoins higher value was $34,688.99 and the lower value was $33,967.74.

Over the last twelve hours, Bitcoins higher value was $38,347.86 and the lower value was $33,967.74.

About Bitcoins daily highs and lows, its 6.549% up from its trailing 24-hour low of $32,245.49 and 10.406% down from its trailing 24-hour high of $38,347.86.

Regarding Bitcoins yearly highs and lows, its 736.556% up from its 52-week low and 18.093% down from its 52-week high.

Bitcoins last day, last week, and last months average volatility was 4.00%, 0.38%, and 0.26%, respectively.

Bitcoins last day, last week, and last months high and low average amplitude percentage was 6.22%, 8.55%, and 10.22%, respectively.

Skybridge's anthony scaramucci talks up new Bitcoin fund, crypto's 'exponential liftoff'. According to Business Insider on Wednesday, 27 January, "Its already happening," he said, citingBlackRock Inc.s adding Bitcoin futures as an eligible investment to two of its funds.", "The SkyBridge Bitcoin Fund LP aims toprovidemass-affluent investors with an institutional-grade vehicle to gain exposure to Bitcoin. "

Cryptos young believers stoke a craze for Bitcoin penny stocks. According to Bloomberg Quint on Wednesday, 27 January, "And the fact that Bitcoin miners tend to be unprofitable or just barely in the black isnt much of a deterrent.", "While Bitcoin prices tend to move in the realm of 5% to 10% a day, its not uncommon for the mining stocks to swing 20%. "

Bitcoin tumbles back below $30,000 as record momentum fades. According to Bloomberg Quint on Wednesday, 27 January, "Companies such as MicroStrategy Inc., Square Inc., and crypto miner Marathon Patent Group Inc. have all added some of their companys cash reserves into Bitcoin amid the rally."

Bitcoin might break down altogether, BIS head carstens warns. According to Bloomberg Quint on Wednesday, 27 January, "Investors must be cognizant that Bitcoin may well break down altogether," because the system becomes vulnerable to majority attacks as it gets close to its maximum supply of 21 million coins, BIS General Manager Agustin Carstens said in a speech for the Hoover Institution on Wednesday."

Microstrategy bond buyers rewarded with win-tie Bitcoin play. According to Bloomberg Quint on Thursday, 28 January, "The founder had become a big bull on Bitcoin and invested its very large cash pile in it," he said. ", "King estimates the value of the companys Bitcoin in the range of $800 million to $1.4 billion, assuming proceeds of the convertible offering were used to fund more buying. "

Ray dalio calls Bitcoin one hell of an invention, considers it for new funds. According to Bloomberg Quint on Thursday, 28 January, "Dalio said he thinks of Bitcoin as a "long-duration option on a highly unknown future" and investing in it means recognizing the potential to lose about 80%.", "Bridgewater Associates founder Ray Dalio said Bitcoin is "one hell of an invention" and hes considering cryptocurrencies as investments for new funds offering clients protection against the debasement of fiat money."

Bitcoin investors May lose everything, central banker warns. According to Bloomberg Quint on Friday, 29 January, "On Friday, Bitcoin rallied above $35,000, with brokers attributing the move to Elon Musk mentioning the cryptocurrency in his bio page on Twitter.", "Still, Makhlouf doesnt see "financial stability issues at the moment arising from Bitcoin itself."

Bitcoin has leapt 17% after billionaire Elon Musk changes his twitter bio to '#Bitcoin'. According to Business Insider on Friday, 29 January, "Clearly the move is being cheered by the Bitcoin bulls," he said, and called the markets feverish trading around hot securities like Bitcoin and GameStop "risky."

Evolve files preliminary prospectus for Bitcoin ETF. According to Business Insider on Friday, 29 January, "TORONTO, Jan. 29, 2021 /CNW/ EvolveFunds Group Inc.("Evolve")is pleased to announce that it has filed a preliminary prospectus with the Canadian securities regulators for the Bitcoin ETF ("EBIT" or "the Fund"). ", "The Funds holdings will be priced based on the CME CF Bitcoin Reference Rate, a once-a-day benchmark index price for bitcoin denominated in U.S. dollars."

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Bitcoin On Bearish Momentum: 11.62% Down In The Last 12 Hours - Via News Agency

San Francisco, CA, Sept. 30, 2020 (GLOBE NEWSWIRE) -- (via Blockchain Wire) IoT connectivity and security startupNodleannounces Stefan Rust, former CEO ofBitcoin.com, a leading proponent for Bitcoin Cash (BCH), bringing P2P cash to the world, will join Nodles Board of Directors.Nodle Cashis the cryptocurrency of Nodle that smartphone users earn by connecting to nearby sensors and Bluetooth-enabled IoT devices.

Stefan Rust will focus on ecosystem growth efforts for Nodle Cash to increase the user base and decentralization of the Nodle Network, as well as grow the developer community and secure adoption with strategic partners. Rust brings his extensive experience in mobile and blockchain, both as an entrepreneur and as a business leader of a multibillion dollar technology, specializing in turning cutting-edge technologies into commercial success.

Nodle Cash is a manifestation of my background in blockchain and wireless combined with the business model of tomorrow where the user gets paid, Rust said. We started off with big telcos charging us a lot of money to communicate over the network. Along came IP, and all we did was pay for connection. With social media, we pay with our data. Nodle Cash is one of the first payment systems where you get paid for the data you provide which in turn allows businesses to improve their service.

Nodle Cash is the cryptocurrency for the Nodle Network, in which app users are rewarded for providing connectivity to nearby Bluetooth-enabled IoT devices by allowing tiny bits of data to securely move from sensors through their phones to the cloud. This dramatically reduces the costs for enterprises and smart cities to gather data. The community of smartphone users who get rewarded for participating in the network is dubbed The Citizen Network. Currently the best way to earn Nodle Cash is through your smartphone with the Nodle Cash app or partnering with developers implementing our SDK in their apps.

Nodle Cash started on the Stellar Blockchain, and after processing more than 1.3M microtransactions a day, Nodle migrated to the Polkadot ecosystem, with its own chain, the Nodle Chain, built on Parity Substrate. Through the Polkadot Ecosystem, the Nodle Chain enables connectivity, micropayments and a whole set of applications for IoT devices.

We are excited to work more closely with Stefan Rust, said Micha Benoliel, Nodles CEO and Co-Founder. Stefan was an early advisor to Nodle, he will contribute a lot to our next evolution towards a fully decentralized architecture. Stefan brings a world of experience in developing ecosystems for decentralized networks and has made a career out of operating on the cutting edge.

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About Nodle

Nodle is a decentralized wireless network composed of millions of smartphones connecting people and things privately and securely. Founded in 2017 by serial entrepreneur Micha Benoliel, the Nodle Network dramatically reduces the costs of IoT device communications. Nodles privacy-first, IoT networking stack enables for a multitude of applications, ranging from social distancing, contact tracing, connecting and securing physical assets, moving sensor data at low cost, and security certificates, to providing insights for consumer electronics manufacturers, enterprises, smart cities, and the finance industry. The Nodle Network is global, with 5 million daily active nodes and 100 million devices connected every week across 100+ countries. Nodle is backed by Blockchain Ventures, Blockchange, Bootstraplabs, Olymp Capital, Blockhead, Mark Pincus from Zynga, Pierre Andurand and Greg Kidd. For more information, go tohttps://nodle.ioor follow us on Twitter@NodleTeam.

About Stefan Rust

Stefan was most recently the CEO of Bitcoin.com. Navigating regulations competing against the national telecom operator, Stefan helped change the mobile landscape in China. He then moved on to Sun Microsystems where he worked to create an ecosystem that brought content and apps to mobile with Java. After having bought his first Bitcoin in April 2012 and using it to pay developers directly, he realized the staggering potential of this global decentralized censorship-resistant currency. He has also advised tech giants like Qualcomm, Red Hat, Sony, Siemens, Limelight Studios, and many others in their developer-led innovations. You can follow Stefan on Twitter@srust99.

Contact:

Daren McKelvey

Director of Communications

Nodle

(631) 743-6423

Original post:

Ex-CEO of Bitcoin.com, a Leading Proponent of Bitcoin Cash (BCH), Joins Nodle's Board to Help Develop the Nodle Cash Ecosystem - GlobeNewswire