Author: NBTC
Economic research firm Perryman Group has revealed that Bitcoin mining has contributed more than $4 billion to the US gross domestic product (GDP) in 2024. The firm disclosed this in its new report, noting that it created 31,000 jobs. The report, which was commissioned by crypto industry advocacy groups, the Digital Chamber of Commerce, and the Texas Blockchain Council, dispels some myths about the Bitcoin mining industry and shows how it benefits the economy. While most mainstream reports on Bitcoin mining have focused on its environmental impact, the new report casts the industry in a new light as a direct…
In a recent discussion Anthony Scaramucci, the founder of SkyBridge Capital, was asked about the possibility of a “strategic Bitcoin Reserve” for the United States. Scaramucci didn’t shy away from the question, expressing confidence that it could become a reality. When asked about the feasibility of such a move, Scaramucci laid out his case on the Bankless podcast. He explained that he’s personally close to key political figures who support this initiative. According to Scaramucci, the Senate already has the votes to make this happen and this support is crucial because it indicates bipartisan backing for the proposal. While many…
Since its peak in November, Bitcoin’s trading volume has drastically decreased with current volume levels falling by about 97%. Bitcoin has seen a slight increase in price, moving closer to the $96,000 mark in spite of this steep drop. This paradox draws attention to the special dynamics at work in the contemporary market. Reduced liquidity is usually indicated by low trading volume, which implies a lack of participation from institutional and retail investors. Although there may occasionally be erratic price swings as a result, the calm market activity has made it easier for Bitcoin’s price to rise. Therefore, the modest…
Sanctum plans to launch staking for its governance token, CLOUD, later this month, according to an official announcement. The Solana (SOL) ecosystem liquid staking token protocol announced the upcoming support for CLOUD staking on via X, noting that the crypto service will go live this month. Sanctum has grown to become one of Solana’s biggest protocols, gaining popularity as investors farmed its tokens. The platform launched its governance token, CLOUD, in July 2024, with a total supply of 1 billion tokens. You might also like: 4 crypto startups earn MiCA licenses from Dutch watchdog Sanctum powers Solana’s liquid staking ecosystem…
A widely followed analyst is warning of a possible Bitcoin (BTC) correction in early 2025 as the flagship crypto asset enters its first post-halving year. In a new video update, crypto strategist Benjamin Cowen tells his 853,000 YouTube subscribers that Bitcoin may correct by double-digit percentage points in January based on historic precedence. “At least in the last two [post-halving years], there has been a correction in January. Now what’s interesting is this time we’ve already kind of had a correction in December, but if you look at what happened in 2021, there was a correction in January, about a…
In a significant move within the cryptocurrency market, a whale made waves by depositing 19,001 AAVE tokens, worth $6.5 million at a price of $342.067 each, into Binance just seven hours ago. This transaction has already secured the whale a realized profit of $4.93 million, marking an impressive 314.36% gain. This recent deposit is part of a larger, strategic series of movements that showcase both the profitability and the complex nature of crypto whale activities. A whale deposited 19,001 $AAVE ($6.5M) to #Binance at $342, allegedly securing a $4.93M profit 7 hours ago.On Jun 23, 2024, this whale withdrew 89,109…
Robert Kiyosaki, the renowned financial guru and the author of the best-selling book on funds management “Rich Dad Poor Dad”, has published a tweet about Bitcoin, mentioning the investment “prophet” and “Omaha oracle” Warren Buffett with great respect. Kiyosaki also revealed the big role that Bitcoin played in the making of his fortune. “I plan on getting richer” with Bitcoin, Kiyosaki says In his tweet, Robert Kiyosaki referred to the prominent investor Warren Buffett, saying that despite Buffett criticizing Bitcoin, his investment strategy is still very wise. The “Rich Dad Poor Dad” author says that he agrees with Buffett and…
Core Foundation, the creator of a yield-bearing bitcoin token, has partnered with institutional lending protocol Maple Finance and custody firms BitGo, Copper and Hex Trust to enter the BTC staking sector. Core’s IstBTC token lets institutional participants earn yield on bitcoin holdings while staying safely inside trusted custodial partners without the need to take on the risks or operational burdens of dealing with smart contracts. A liquid staking token, to be issued in the coming months by Maple, will allow staked BTC to be used by trading firms and asset managers as collateral for borrowing in DeFi or with trading…
Shytoshi Kusama is a fictitious name used by a SHIB co-founder and one of the leading developers of the Shiba Inu project developers. This is similar to the case of the Bitcoin founder, who used the name Satoshi Nakamoto as a pseudonym to hide their real identity. Despite their massive success and a social media reach of over a million followers, the real identities Shiba Inu cryptocurrency project’s founders have remained shrouded in mystery to this day. While we know that Shytoshy Kusama is the lead developer and co-founder of the Shiba Inu ecosystem, we don’t know his name, age,…
As of January 2, 2024, BlackRock, the world’s largest asset manager, has revealed a heavy concentration in Bitcoin (BTC) and Ethereum (ETH), deeming them the only cryptocurrencies worth investing in. With a staggering $56.41 billion allocated to its cryptocurrency portfolio, Bitcoin and Ethereum dominate, accounting for over 99% of the portfolio’s value. Dominance of Bitcoin and Ethereum in BlackRock’s strategy Bitcoin leads the pack with 550,643 BTC holdings, valued at $52.78 billion at a current price of $95,855 per coin, representing a gain of $1.28 billion (+2.48%), as per data retrieved by Finbold from Arkham Intel. Ethereum follows with 1.037…