Senator Wendy Rogers introduced a bill to make bitcoin a lawful currency in the U.S. state of Arizona.

President Nayib Bukele is responding to the International Monetary Fund’s (IMF) warning that El Salvador should remove the legal tender status of Bitcoin (BTC) with a meme. Back in September of last year, El Salvador became the world’s first nation to recognize Bitcoin (BTC) as an official currency. The leading crypto asset has since gone […]

The post El Salvador’s President Responds to IMF After the Institution Advises Country To Drop Bitcoin As Legal Tender appeared first on The Daily Hodl.

El Salvador captured attention from around the globe when it launched its Bitcoin wallet. Now Chivo's users are reporting a host of problems.

The post El Salvador’s Chivo wallet keeps breaking, and users are seeking answers appeared first on The Block.

Despite the fact that the end of 2021 suggested that there could still be some concern in regard to the volatility of the market, there is no doubt that last year was huge for the cryptocurrency industry and one that was huge in general. Indeed, there were a number of different things to look out for including things such as non-fungible tokens (NFTs) and decentralized finance (DeFi), Ethereum (ETH-USD) and smaller cryptocurrencies, however it is was also a year that had plenty of impact on Bitcoin. The cryptocurrency, which had experienced a number of fluctuations over the last 12 months, had managed to hit an all-time high of a price near $69,000 in November, however it had been reduced to around $47,000 recently, leaving its market capitalization to being its second lowest and around 40% according to TradingView data. Nonetheless, this has not stopped many bulls from predicting that Bitcoin will still be able to reach the $100,000 price that many have hoped it would, with many standing strong in their prediction and seemingly having as much confidence in it happening as before. Naturally, there are a number of different factors that many individuals and experts may look to point to when it comes down to trying to back their prediction, with the gambling industry perhaps one of the biggest. Crypto gambling is an activity that is enjoyed by many holders of virtual currency, with the use of a Bitcoin casino continuing to increase due to the benefits that gamblers are able to enjoy when playing their favorite games. Additionally, to further support the suggestion that Bitcoin has benefited from this particular industry and will likely continue to do so, a study by Thomas Conlon and Richard McGee in 2020 has already shown that the crypto token had enjoyed an increase in price once before because of the wagering industry. CryptosRus George Tung told Yahoo Finance that whilst in the “short-term, there may be some volatility,” he felt that in the “long-term, inflation is going to be a continuing issue, and bitcoin is seen as the best hedge against inflation at this point.” Blockstream’s chief strategy officer Samson Mow also appeared to double down on the prediction that Bitcoin will be a six-figure price by suggesting that it could happen inside the next six months. He stated: “We’ll see $100k within the first half of the year.” How did it also reveal that Bitcoin will still be a rather risk-sensitive asset over the short-term, with a number of different factors at play, but also stated: “on a long enough time horizon, [Bitcoin] does its own thing.” El Salvador President, Nayib Bukele, has recently echoed the opinion that Bitcoin will also be able to reach the $100,000 price in 2022, as he made a number of strong predictions whilst taking to Twitter and posting a tweet to all of his followers. One of the predictions that he made that could help the digital asset to become a six-figure coin was that he felt two more countries will adopt the token as legal tender in the next 12 months, thus joining the Latin American country in becoming amongst the first to accept it. Mow highlighted that “[Bitcoin] mining at the national utility level is the first step,” and a number of countries have seen the market resurface. Despite the fact that China banned cryptocurrency mining in June 2021, countries including Canada, Iran, Germany, Malaysia, Russia and the United States have all seen a resurgence in market interest, according to research compiled by the Cambridge Bitcoin Electricity Consumption Index (CBECI). Some would suggest that Bukele’s and Mow’s thoughts are shared, though, due to the interest that they have together after a partnership was announced that would see them offer “volcano bonds”. Half of the billion-dollar sovereign debt would be going towards financing “Bitcoin City ” which would harvest nearby geothermal energy from a volcano to mine Bitcoin. Mow stated that a “zero tax on everything” development zone would help to transform El Salvador into the “Singapore of Latin America,” however it should be noted that the bond is not yet available, as Blockstream continues to work with a number of brokers. The other half of the 10-year bond offering will be converted into Bitcoin, with a coupon of 6.5% being carried over the next decade.

El Salvador adopted Bitcoin as legal tender in September 2021 and wants to build…

The post IMF wants El Salvador to drop Bitcoin as legal tender appeared first on Coin Journal.

IMF calls for El Salvador to stop using BTC as a legal tender- again and this is the third time that the organization warned the country because it thinks Bitcoin is a bad idea so let’s read further in our latest bitcoin news. The IMF calls for El Salvador to stop using Bitcoin as a […]

January 26, 2022       /       Unchained Daily       /       Laura Shin Daily Bits ✍️✍️✍️ Ark Invest’s Cathie Wood predicts Bitcoin could exceed $1 million[...]

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After a sharp drop in the last two weeks, Dogecoin is now green. It…

The post Dogecoin spikes after Elon Musk ask McDonald’s to accept DOGE payments appeared first on Coin Journal.

The International Monetary Fund (IMF) is concerned about the risks of El Salvador's issuance of bitcoin-backed bonds, urging El Salvador to terminate bitcoin as legal tender as soon as possible. (Read More)

IMF directors said they see ‘risks’ in using bitcoin as currency and issuing bitcoin-backed loans.

Bitcoin (BTC) price mirrored the US stock market fears owing to the concerns about the war in Ukraine. The ongoing conflict between Russia-Ukraine agitated by the US involvement triggered a broad sell-off in the global financial markets. At the press time, BTC is trading at $33,314 losing nearly 8%. The 24-hour volume is recorded at

The post Is Reversal On Cards As Bitcoin (BTC) Clings Near $33,500! appeared first on CoinGape.