Three Reasons Why NFT Market Is Bound to Rise and Shine

In early July 2020, the total sales of nonfungible tokens, or NFT, hit $100 million. And that is just the start. As the DeFi market reached $4 billion in locked value and leading cryptocurrencies started their rally to yearly highs, we might soon see a hockey-stick growth pattern in the NFT . . . → Read More: Three Reasons Why NFT Market Is Bound to Rise and Shine

3 Reasons Why MicroStrategy Adopted Bitcoin — And Why Others Will Too

MicroStrategy has adopted Bitcoin (BTC) as its reserve currency — and stunned commentators by purchasing over 21,000 BTC on Aug. 11.

The world’s largest publicly-traded business intelligence company has swapped fiat for Bitcoin as its treasury reserve asset, but the reasons behind it suggest that more big businesses will have no choice . . . → Read More: 3 Reasons Why MicroStrategy Adopted Bitcoin — And Why Others Will Too

CoinShares: ‘Bitcoin Is Like a Risky Tech Stock’’

Bitcoin acts more like a tech startup stock than digital gold — with investors reaping big rewards if it works but potentially losing everything if the crypto asset fails.

That’s the conclusion of an Aug. 10 report from digital asset manager CoinShares titled A Little Bitcoin Goes a Long Way. In . . . → Read More: CoinShares: ‘Bitcoin Is Like a Risky Tech Stock’’

How Not To Lose Everything During the Bull Run

With sentiment suggesting Bitcoin (BTC) and the crypto markets are about to go on a bull run, seasoned old timers are warning about the lessons learned from previous rallies. 

With Bitcoin correcting 5% in the past day, the Crypto Fear and Greed Index is back to 75. A measure of sentiment that looks . . . → Read More: How Not To Lose Everything During the Bull Run

Institutional FOMO? CME Bitcoin Futures Open Interest Soars to $841M

Today the open interest on Chicago Mercantile Exchange Bitcoin (BTC) futures reached a new all-time high at $841 million. 

Although this can’t be deemed bullish on a standalone basis, it does signal that professional investors’ interest in Bitcoin continues to grow at an immense rate. 

Further proof of this comes as . . . → Read More: Institutional FOMO? CME Bitcoin Futures Open Interest Soars to $841M

Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin

China accounts for more than half of the world’s Bitcoin mining capacity but Jameson Lopp, the co-founder and CTO of Casa, has hosed down fears that Chinese miners are a threat to Bitcoin in a blog post on Aug. 9.

Although many people have raised concerns over the concentration of such much . . . → Read More: Why Chinese Miners Won’t Stage a 51% Attack on Bitcoin

Adam Back: Bitcoin is Enough, Satoshi Should Stay Out

In a Cointelegraph interview, Adam Back provided additional clarity on his perceived Bitcoin (BTC) maximalism. Blockstream’s CEO believes that Bitcoin is enough and there is no need for a multitude of derivative projects. Back said, “I think it’s like TCP/IP the internet exists. We don’t need 5800 TCP/IP copies trying to . . . → Read More: Adam Back: Bitcoin is Enough, Satoshi Should Stay Out

Tezos XTZ Follows Chainlink to Hit New High — But Is $6 Now Realistic?

As Chainlink (LINK) reaches a new all-time high after all-time high, it would be expected to see a similar move on Tezos (XTZ). This is because these two coins have been moving in tandem in recent years and have been one of the few resilient digital tokens despite the cryptocurrency bear market during . . . → Read More: Tezos XTZ Follows Chainlink to Hit New High — But Is $6 Now Realistic?

World’s Biggest Business Intelligence Firm Buys 21K Bitcoin for $250M

The world’s largest publicly traded business intelligence company MicroStrategy (Nasdaq: MSTR) has formally adopted Bitcoin (BTC) as its primary reserve asset.

In a press release issued on Aug. 11, MicroStrategy confirmed it had purchased 21,454 BTC for $250 million.

MicroStrategy: Move “reflects our belief in Bitcoin”

Michael J. Saylor, CEO of MicroStrategy, commented . . . → Read More: World’s Biggest Business Intelligence Firm Buys 21K Bitcoin for $250M

Bitcoin Price Rises in Tandem With Central Banks’ Balance Sheets — Data

Bitcoin (BTC) is becoming investors’ favored escape from fiat misery and punitive economic policy — and central banks are only helping.

In a tweet on Aug. 11, popular commentator Holger Zschaepitz described Bitcoin as the “new darling” for those seeking shelter from hurdles such as negative interest rates.

Bitcoin primed to become “fastest . . . → Read More: Bitcoin Price Rises in Tandem With Central Banks’ Balance Sheets — Data