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Central African Republic follows El Salvador in making Bitcoin an official currency
Bitcoin What just happened? No longer is El Salvador the only country in the world where Bitcoin is an official currency. Joining the South American nation is the Central African Republic (CAR), which has now approved the cryptocurrency as legal tender. A bill governing the use of Bitcoin was adopted unanimously by parliament last week, writes Reuters. Despite being rich in natural resources such as gold and uranium, CAR is one of the poorest countries in the world and has been embroiled in civil war since 2012. It currently uses the French-backed CFA franc as its currency, as do six […]
U.S. Dollar Index (DXY) Reaches Long-Term Resistance
The U.S. Dollar Index, which has experienced rapid growth in recent weeks, has reached long-term resistance. Much depends on the DXY’s further movements, not only in the broad financial sector, but also in the Bitcoin and cryptocurrency markets. A rise in the U.S. Dollar Index is often a signal of uncertainty and fear in financial markets. Moreover, the DXY has a long-term negative correlation with the price of Bitcoin and the cryptocurrency market. The latest releases of quarterly reports from major U.S. companies came in below expectations. Then, investors continue to take into account the unstable global situation with the […]
Dubai Real Estate Giant Now Accepts Payments in BTC and ETH
Bitcoin You are here: Home / News / World / Dubai Real Estate Giant Now Accepts Payments in BTC and ETH April 28, 2022 by Vignesh Karunanidhi A Dubai-based firm stated that allowing cryptocurrencies to be used to purchase real estate will revolutionize the industry’s future. It will also offer simplicity and flexibility to real estate investors worldwide. On Wednesday, Damac Properties, a real estate developer, revealed that it would offer properties in exchange for cryptocurrencies Bitcoin and Ethereum. “This shift toward clients holding cryptocurrency is one of our endeavors to advance the new economy for younger generations and the […]
Goldman Sachs Offers First ‘Bitcoin-Backed’ Loan; Crypto-Backed Real Estate is Now a Thing.
Wall Street is moving its feet closer into crypto, as Goldman Sachs offered its first bitcoin-backed loan on Thursday, according to Bloomberg News. The secured lending facility allowed a borrower to use bitcoin (BTC) as collateral for a cash loan. Under this arrangement, a bitcoin holder is able to obtain fiat money – U.S. dollars in exchange for putting up their BTC as collateral to the bank. Consequently. if the price of bitcoin drops, the borrower may be required to increase their collateral. In the event they fail to put up the necessary collateral, they risk liquidation. Goldman Sachs joins […]
Riot Blockchain Announces Plans for a 1 GigaWatt Bitcoin Mining Farm in Texas
Bitcoin Quick take: Riot Blockchain has announced that it plans to develop a 1 GigaWatt Bitcoin mining facility in Navarro County, Texas The facility is part of its Bitcoin mining and hosting expansion plans, aptly named ‘The Expansion’ The Expansion will start with an initial 400 MegaWatt facility on a 265-acre site and is expected to commence in July 2023 The additional 600 MegaWatt will be added in the future via the 345 kV Navarro switch The publicly traded Bitcoin mining and hosting services provider of Riot Blockchain has announced plans to develop a 1 GigaWatt (GW) BTC mining facility […]
Bitcoin Could Hit $1M and Gold $10k to $20k by 2030 – Former Bitmex CEO
Summary: Arthur Hayes has forecasted that Bitcoin could get to $1 million and Gold to $10,000 to $20,000 by the end of the decade Mr. Hayes’ forecast of Bitcoin and Gold is based on an event he describes as ‘the Doom Loop’ The Doom Loop is when the US Federal Reserve starts to pay ‘more in interest on its debt than it receives in tax receipts’ Accommodating the Doom Loop will involve the Fed easing its measures in fighting inflation The Co-founder and former CEO of Bitmex, Arthur Hayes, has forecasted that Bitcoin could get to $1 million and Gold […]
