However, the good times may stop rolling if the heavily shorted U.S. dollar, which has recently found a “double bottom” price floor against major fiat currencies, sees a short squeeze – a rally powered by an unwinding of bearish bets, as per Singapore-based options trading firm QCP Capital. Author: Omkar Godbole Source link
Business intelligence platform MicroStrategy has reiterated its commitment to its Bitcoin (BTC) investment strategy after turning its first quarterly profit since 2020. The Michael Saylor-founded firm went back into the green in the first quarter of 2023 with a profit of $94 million, which was largely attributed to a one-time income tax benefit of $453.2 million. Phong Lee, the firm’s chief executive officer explained in the May 1 statement that MicroStrategy’s “conviction” in its Bitcoin (BTC) investment strategy is as “strong” as ever: “The conviction in our bitcoin strategy remains…
The West dominates the top 10 rankings of the most innovative economies as measured by the Global Innovation Index, including Switzerland, the United States, Sweden, the United Kingdom, the Netherlands, Germany, Finland, and Denmark. We would expect that innovative crypto projects would continue to originate from these locations. Author: James Rubin Source link
The Kingdom of Bhutan is bullish on Bitcoin (BTC). Following the revelation that the small Himalayan Kingdom of Bhutan has been quietly accumulating crypto, the country is also mining Bitcoin. Moreover, the country of less than 800,000 people leverages green energy to power its Bitcoin mining operations. Known for its focus on “Gross National Happiness” and picturesque landscapes, Bhutan has found ways to harness its immense hydroelectric potential, which accounts for 30% of its GDP. First reported in an exposé in local Bhutanese News followed by inquiries from Forbes, Bhutanese…
ALSO: Five CoinDesk journalists offer their takeaways from Consensus 2023. They found an industry still filled with optimism but also realistic about the challenges ahead, most notably, regulatory uncertainty. Author: Sam Reynolds Source link
Bitcoin (BTC) narrowed volatility on April 30 as the weekly and monthly candle closes loomed. BTC/USD 1-hour candle chart (Bitstamp). Source: TradingView Trader sees BTC price upside capped at $32,500 Data from Cointelegraph Markets Pro and TradingView tracked BTC/USD as it loitered just above $29,000 throughout the weekend. After unsettled price action earlier in the week, Bitcoin returned to sideways trading, with markets witnessing an eerie calm despite the potential for volatility thanks to lower weekend liquidity. As such, traders were hopeful that no unwelcome surprises would greet the candle…
The largest cryptocurrency by market capitalization was recently trading at about $29,500, up roughly 2.2% over the past 24 hours. BTC topped $30,000 at one point, near its earlier week highs but still well off its April peak close to $31,000. Still, investors seem to have forgotten Wednesday’s dramatic seesawing when the crypto dipped to around $27,200 amid a mass liquidation of short and long positions and separate unfounded rumors of bitcoin sales – by the U.S. government and of crypto from failed exchange Mt. Gox – before rebounding. Author:…
Ensuring that this gas would otherwise be flared, adding onto greenhouse gases, is key to the methodology. SBP wants to “ensure that using this waste gas is not perpetuating the problem,” whilst “recognizing that oil and gas will be used for many years to come,” said Brad van Voorhees, co-founder and CEO of SBP. “When done responsibly, utilizing this waste gas is actually really the ideal sort of energy transition process,” he said. Author: Eliza Gkritsi Source link
Not all the stolen bitcoin was recovered, so only a fraction of the original amount held by creditors will be compensated, the report said. Author: Will Canny Source link
While several top digital assets have decreased in value against the U.S. dollar over the past month, the stablecoin economy has lost $2.4 billion in value since March 31, 2023. Four of the top five stablecoins experienced net redemptions over the last 30 days, except for tether, which grew by 2.3% during that time. Four of the Top Five Stablecoins Experience Net Redemptions in the Past 30 Days On March 31, 2023, the top stablecoins by market capitalization represented $133.63 billion in value, and now the valuation is down to…