Mining in China accounted for roughly 75 per cent of all production capacity earlier this year, but the nationwide crackdown on cryptocurrencies forced miners to flee to other countries. Wednesday 8 December 2021 17:57, Anthony Cuthbertsonīitcoin’s mining hashrate has bounced back to all-time highs, just six months after operations were banned in China. All rights reserved.) Bitcoin hashrate hits all-time high “Today’s Visa advisory announcement is evidence of this paired with the news that it will allow cryptocurrency to complete transactions across its payment network can provide traditional financial institutions with an opportunity to bridge the gap between fintech and their traditional counterparts.”
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“Cryptocurrencies are becoming more mainstream, and now a much greater consideration for both retailers and traditional financial services business,” Burchardi told us. Today’s announcement from Visa that it will roll out a crypto advisory service for banks and retailers will help push bitcoin and other cryptocurrencies into the mainstream, according to cryptocurrency expert Kaj Burchardi, managing director at BCG Platinion.īy educating financial institutions, the world’s largest payment processor will see demand for such services sky rocket. Wednesday 8 December 2021 19:50, Anthony Cuthbertson Prices of cryptocurrencies over last 24 hours (Coin Market Cap) Visa crypto advisory service pushes bitcoin ‘into mainstream' The sub-Reddit r/dogecoin was the most popular of all of them, which has fostered the meme coin’s community since its early days. The term ‘crypto’ received more than 6.6 million mentions between January and November, while there are now more than 500 communities on Reddit dedicated to cryptocurrency. Reddit’s annual review has revealed that cryptocurrency was the most popular theme on the platform over the last year. ‘Crypto’ mentioned 6.6m times on Reddit in 2021 They were bought for an average of about $29,861 each, almost exactly half of what today’s cost. That means it now has about 122,478 bitcoins, which it has spent $3.66 billion on. Chief executive Michael Saylor says it has bought 1,434 bitcoins for about $82.4 million in cash at an average price of $57,477 each.
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Microstrategy, the software firm probably better known as a huge holder of bitcoins, is now holding even more of them. (Getty Images) Microstrategy buys even more bitcoin “Don’t forget to take some profits along the way.” “Make hay while the sun shines, and enjoy many more months of good market conditions,” Davis writes. Popular crypto commentator Lark Davis has laid out seven reasons to be bullish about bitcoin in the year ahead, writing on Twitter that major industry news like a spot ETF, combined with lengthening cycles, will see bitcoin’s price continue to rise into 2022.
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With the price of bitcoin still lingering below the $50,000, investors are looking for reasons to be positive about the coming months. World’s third largest bitcoin holder buys the dipīitcoin price enters rare ‘oversold’ territory We’ll have all the latest news, analysis and expert price predictions right here.īitcoin plunges by a fifth as $2.5bn worth of cryptocurrency liquidatedįacebook unbans bitcoin ads in huge boost for crypto industryīitcoin network overtakes PayPal in quarterly volume Key points The combined losses have wiped around $100 billion from the overall crypto market, pushing it back below $2.3 trillion.īitcoin remains a long way off the all-time high it experienced last month of close to $69,000, with experts divided over whether the market has turned bearish, or will rebound to new record highs before the end of the year.