Monthly Archives: February 2020

Chamath Palihapitiya, the billionaire chairman of spaceflight company Virgin Galactic, has recommended that everyone hold Bitcoin (BTC) as a form of crisis insurance. Speaking on CNBC’s Squawk Box, Palihapitiya said he believes that “everybody should probably have 1% of their assets in Bitcoin.” Palihapitiya said that Bitcoin comprises a “fantastic hedge,” as every other financial instrument is…

This week an Iranian general called for a unique way to bypass the sanctions on his country enforced by the United States. Saeed Muhammad, commander of the Islamic Revolutionary Guard Corps, called for Iran to use cryptocurrencies to evade the economic sanctions. According to the Telegram channel of Coinit.ir, a crypto news organization based in Iran,…

The sharp correction that has rocked the crypto market since Feb. 23 continued through Feb. 27 as Bitcoin (BTC) price dropped nearly 8% to a daily low at $8,531.Markets pricing in Coronavirus impactAt the opening bell, equities markets recovered some of the losses of the previous two days but at the time of writing Dow…

Opposition continues to grow against implementation of the controversial Programmatic Proof-of-Work (ProgPoW) proposal in the Ethereum community.ProgPoW is an ASIC-resistant PoW algorithm meant to replace ETHhash, the current hashing algorithm for the platform. First mooted two years ago, it suddenly reemerged as a concrete plan set for the middle of this year following a call…

Square’s Cash App derived half of its fourth-quarter revenue from Bitcoin (BTC) services.According to a shareholder letter published on Feb. 28, Bitcoin revenue amounted to $178 million during the fourth quarter of 2019, while combined non-Bitcoin revenue totaled $183 million.In total Bitcoin accounted for more than half a billion dollars of revenue across 2019, equating…

The US Securities and Exchange Commision has rejected New York based firm Wilshire Phoenix’s Bitcoin Exchange Traded Fund (ETF) application, citing ongoing concerns over market manipulation and a lack of surveillance-sharing agreements.Commissioner Hester ‘Crypto Mom’ Peirce has publicly disagreed with the rejection.NYSE Arca had submitted a proposed rule change to allow the listing and trade…