Bitcoin Drops Over $2,200 After Failing to Hit All Time High
Bitcoin’s attempts to topple its all time high appear to have been strangled just $176 from the peak. After hitting $19,490, Bitcoin couldn’t sustain its upward momentum and collapsed to $17,255 around 14 hours later. Is this the end of the bull run, or just another bump in the road to all time highs?
The CEO of Microstrategy, the company that has converted some $400 million of its assets into Bitcoin, has said that the cryptocurrency doesn’t need to operate as a medium of exchange in order to fulfil its potential. Michael Saylor, whose company hit the headlines last month when it bought ₿38,250 as a hedge to the dollar, said that the cryptocurrency compared with stocks, gold, and real estate, none of which can be used to buy everyday items either. His attitude reflects a gradual shift in Bitcoin’s use case, which has been shaped by global events as much as the technology itself.
Read the full article at FullyCrypto: https://fullycrypto.com/bitcoin-neednt-be-medium-of-exchange-microstrategy-ceo
Insurance firms that pay out cyber criminals on behalf of companies in the event of a ransomware demand could be violating sanctions, according to the U.S. Treasury Department. A spate of hacks followed by ransomware demands in recent years have resulted in insurance companies paying the ransom, typically in Bitcoin, but the Treasury has now warned that if the hackers are proven to be linked to countries on the U.S. sanctions list then insurance companies could face stiff penalties.
Read the full article at FullyCrypto: https://fullycrypto.com/ransomware-insurance-payouts-could-violate-sanctions
Streamr, the data-focused blockchain project that aims to allow users to monetize their data, has taken a huge step towards adoption by signing a deal with the GSM Association (GSMA), the industry body for mobile telecom communications. The deal will see three mobile network operators (MNOs) joining forces with Streamr to provide a service that will allow users to share and monetize their information in return for the Streamr coin. STREAMR says MNOs have been attempting for over a decade to find a way to monetize user data, and it finally seems like a solution has been found that benefits all parties.
Read the full article at FullyCrypto: https://fullycrypto.com/streamr-signs-data-union-deal-with-telecoms-body-gsma
The cryptocurrency run of 2017 was driven, some argue, by the mass printing of USDT tokens which were then used to buy Bitcoin on Bitfinex. There are strong arguments against this theory, not least Tether from Bitfinex themselves, but two years later the pattern is repeating – Bitcoin is pumping while USDT minting is going through the roof. Is the Bitcoin price once again being driven by USDT’s minting machine?
Read the full article at FullyCrypto: https://fullycrypto.com/is-usdt-minting-driving-bitcoins-price-again
DigiByte is making waves across the crypto world, getting adopted by some of the biggest brands and adding new features to become more accessible to the average user. In its latest integration, DigiByte has been added to ZelaaPAY systems throughout the UAE. This means that DigiByte hodlers will be able to use their DGB to pay for goods and services with merchants that use the ZelaaPAY systems.
Read the full article at FullyCrypto: https://fullycrypto.com/digibyte-listed-on-zelaapay-systems-in-the-uae
Christine Lagarde, the President of the European Central Bank (ECB), has said that any digital euro stablecoin would not seek to replace cash but would operate alongside it. Speaking at a virtual meeting of the Franco-German Parliamentary Assembly on Monday, Lagarde stated that the ECB was exploring “the benefits, risks and operational challenges” of a central bank digital currency (CBDC), in the wake of China’s declaration that the new financial paradigm represented a “new battlefield” between nations.
Read the full article at FullyCrypto: https://fullycrypto.com/digital-euro-could-complement-cash-christine-lagarde
The head of New York Digital Investment Group (NYDIG), Robby Gutmann, has said that the Bitcoin world can expect a series of “pretty game changing milestones” in institutional adoption starting as early as next week. In his appearance on the On The Brink podcast, Gutmann revealed that NYDIG’s “strategic partners” are going to be announcing Bitcoin products and services that will “mark… new points in Bitcoin adoption” imminently, following up an announcement 10 days ago on a $200 million investment from those same partners.
Read the full article at FullyCrypto: https://fullycrypto.com/nydig-chief-bitcoin-to-see-game-changing-milestones
Bitcoin is doing all sorts of things this week, and its recent assault on $14,000 has awoken a huge number of traders from their slumber. There was a lot of selling pressure which caused Bitcoin to briefly touch $12,980, but soon enough the bulls came back with force, dragging it back into the $13,000 level.
Read the full article at FullyCrypto: https://fullycrypto.com/set-your-fees-to-high-the-mempool-is-filling-up-fast