Microstrategy has announced its intention to offer 0 million of convertible senior notes due 2032 in a private offering, subject to market conditions. The company also expects to grant the initial purchasers an option to purchase up to an additional million of the notes within a 13-day period from the issue date. The notes […]
Bitcoin News
Dfinity Senior Scientist: Bitcoin’s Next Significant Wave of Innovation Will Revolve Around DAOs
After the introduction of ordinals, BRC-20 tokens, and more recently, Runes, the next significant wave of innovation on Bitcoin will revolve around Decentralized Autonomous Organizations (DAOs). Aisling Connolly, the Senior Research Scientist at the Dfinity Foundation, has asserted this. He stated that the technology, which is now well-suited to support DAOs and the more mature […]
Bitcoin News
Nigeria’s Binance Impasse: Senior Executives Detained at Government ‘Guesthouse’ for 14 Days
Tigran Gambaryan, a former U.S. federal agent, is one of two Binance executives being held without charge by Nigerian authorities. A local court approved the executives’ 14-day detention. Recent media reports suggest that Nigerian officials have requested Binance to disclose the identities and transaction histories of its top 100 users. Detained Executives’ Families Demand Their […]
Bitcoin News
Biggest Movers: XRP Surges as SEC Drops Lawsuit Against Ripple’s Senior Management
XRP was a big gainer on Friday, as markets reacted to the SEC’s decision to drop its lawsuit against Ripple’s management team. The commission previously alleged that CEO Brad Garlinghouse and chairman Chris Larsen had violated securities laws. Solana also surged, rising by over 10% today.
XRP
XRP rose to a two-week high on Friday, following a decision by the Securities and Exchange Commission (SEC) to drop its case against Garlinghouse and Larsen.
XRP/USD peaked at .5291 earlier in the day, which comes following a low at .4831 the day prior.
As a result of today’s high, ripple rose to its highest point since October 5, when price peaked at .5325.
Earlier gains have now eased, which comes as the relative strength index (RSI) failed to move beyond a ceiling at 57.00.
At the time of writing, price strength is now tracking at 56.32, with the next visible floor at the 50.00 level.
The 10-day (red) moving average has also begun to trend upwards, increasing chances of an upwards crossover in the upcoming days.
Solana (SOL)
Solana (SOL) surged significantly higher in today’s session, after finally breaking its long-term ceiling at .00.
After trading at a bottom of .17 on Thursday, SOL/USD jumped to an intraday high of .29 earlier today.
Friday’s move is the highest point that solana has hit since July 20, when price peaked at .35.
As a result of this strong sentiment, SOL has risen into overbought territory, with the RSI climbing to a current reading of 74.60.
A point of resistance now awaits current bulls at the 75.00 mark, and should they prevail, solana could capture .00.
Register your email here to get weekly price analysis updates sent to your inbox:
Will solana bulls begin to take profits this weekend? Let us know your thoughts in the comments.
Former White House Senior Advisor David Plouffe Joins Alchemy Pay Advisory Board
Serving as a committee member of Alchemy Pay’s management and advisory board, and as Global Strategic Adviser to support Alchemy Pay’s expansion and growth in global markets, contributing actively to strategy, compliance and government relations.
Alchemy Pay, Singapore based pioneer of the world’s first payment gateway solution to bridge the gap between fiat and crypto economies, has announced the appointment of legendary campaign manager and former White House Senior Advisor, David Plouffe, as Global Strategic Advisor.
Plouffe is credited with the strategy and grass-roots public engagement savvy that won Obama’s 2008 presidential campaign, subsequently becoming Senior Advisor to the President in the Obama Administration. Plouffe has noted Alchemy Pay’s backbone mission in the cryptocurrency industry, and its steady course and leadership in the industry’s evolution.
“Cryptocurrency and decentralized ledgers are the newest permanent features of the global economy,” said Plouffe. “Alchemy Pay has chosen to focus on bridging public sector and private sector agendas as a strategy in its mission to provide fiat-crypto transaction services. Alchemy Pay understands that the key to crypto sustainability and growth is broadening utility cases by focusing on payment channels, proper compliance and user experience.”
After his work for Obama, Plouffe became the Senior Vice President of Policy and Strategy for Uber in 2019, and in 2022 Plouffe joined the Binance Global Advisory Board.
About Alchemy Pay
Founded in Singapore in 2018, Alchemy Pay is a payment gateway that seamlessly connects crypto and global fiat currencies for businesses, developers, and users. The Alchemy Pay Ramp Solution is integrated, via plugin or API, with platforms and dApps, providing an easy onramp from fiat currency to crypto. Alchemy Pay supports payments from 173 countries, through Visa, Mastercard, Google Pay, Apple Pay, popular regional mobile wallets, and domestic transfers with a focus on emerging markets. Its offramping capability remits to users in 50+ local fiat currencies. ACH is the Alchemy Pay network token on Ethereum and BNB Chain.
This is a sponsored post. Learn how to reach our audience here. Read disclaimer below.
Bitcoin Poised To Resume Its Inclination To Outperform, Says Bloomberg Senior Analyst
After the Bank of Japan (BOJ) announced a surprising turnaround in its monetary policy today, the Bitcoin price managed to rise near the important resistance level of ,900. The BOJ announced that it will drastically widen its yield curve control band to 0.50%. At the same time, it announced that it will significantly increase the number of government bonds it will buy each month.
According to Bloomberg senior commodities analyst Mike McGlone, this trend could continue. McGlone shared his insights via Twitter and said that a “warm spell” is ahead for Bitcoin.
As the analyst notes, BTC has taken a beating as a risk asset in 2022 with most other cryptocurrencies, but “appears poised to resume its inclination to outperform.” This will happen when the U.S. Federal Reserve eases monetary policy and completes its pivot.
Bitcoin Is Set To Outperform When…
According to the chart from a Bloomberg Intelligence report, the levels that BTC and the Nasdaq 100 stock index have been resisting have now turned into support.
According to the analysis, the BTC price soared in 2020 and 2021 due to unprecedented fiscal and monetary stimulus, allowing it to outperform the stock index. McGlone further elaborated:
At a Bitcoin/ Nasdaq ratio of 1.5x on Dec. 16, what’s been consistent for most of the benchmark crypto’s history is its declining relative risk vs. the stock index. At 2x, Bitcoin’s annual volatility at the end of 2022 compares with 4x at the end of 2021.
In the coming year of 2023, McGlone expects that it will be a matter of how much lower global economies fall. Investors should by no means underestimate BTC then, as the risk/reward ratio is in favor of the leading cryptocurrency.
“Risk vs. reward appears to argue against under-allocating or estimating the propensity for Bitcoin to continue its trajectory toward becoming digital collateral,” McGlone claimed.
In other words, the Bloomberg analyst predicts that as soon as the U.S. Federal Reserve fires up its money printer again, cuts interest rates and returns to monetary easing, Bitcoin will “outperform” the rest of the market again.
In another tweet, McGlone predicted that the leading cryptocurrency will outperform the Tesla stock. “The near-certain decline in Bitcoin supply compared to the rising number of Tesla shares outstanding favors cryptocurrency outperformance when the rules of economics apply,” McGlone said.
BTC Price At Crucial Level
Meanwhile, the BTC price needs to crack the extremely crucial ,900 level in the short term and could then have a strong continuation. If so, investors should then keep an eye on the next vital resistance in the ,350 area.
Bitcoin Mining Firm Argo Blockchain To Raise $57.5M Via Senior Notes Offering
The bitcoin mining firm Argo Blockchain filed a registration statement with the U.S. Securities and Exchange Commission (SEC) for a proposed public offering due November 30, 2026, with an interest rate of 8.75% Senior Notes. The UK-based firm plans to raise a total of .5 million through the Notes sales to the public, offering them in increments of . They intend to use the funds for the construction of Argo’s Texas crypto mining facility, which aims to power 90% of operations through renewable sources and is estimated to cost around billion.
Our mining strategy is to cost-effectively acquire and deploy the most advanced mining technology solutions in North American facilities that utilize predominantly renewable and inexpensive power.
The Company will also use the net proceeds “for general corporate purposes” and “potentially acquisitions of, or investments in, complementary businesses” as they are exploring “strategic initiatives in software and other technologies in the wider cryptocurrency and blockchain sectors.”
In connection with the Offering, Argo has applied to list the Notes on the Nasdaq Global Select Market (“Nasdaq”) under the symbol “ARBKL.” If approved for listing, trading on Nasdaq is expected to commence within 30 business days after the Notes are first issued.
The filing states that Argo Blockchain completed its U.S. Initial public offering of 8,525,000 American Depositary Shares on September priced at ,00 per share, having net proceeds of approximately 4.8 million. Later in the month, they held 1,836 Bitcoin and Bitcoin Equivalent “valued at approximately £58.7 (,5) million based on prices as of such date”, with total revenue of £50.4 (,3) million, which translated into a growth rate of 238% “over £14.9 (.2) million in the nine months ended September 30, 2020”.
Related Reading | Argo Blockchain Secures Million Loan with Galaxy Digital LP
Bitcoin Mining Revenue And Strategy
Argo’s mining revenue rose 32%, a total of ,75 million in October, having mined 167 bitcoin or bitcoin equivalent, compared to 165 in September with revenue of ,59 million. The month’s income was generated at a Bitcoin Mining Margin of roughly 84%. The firm reported a total of 1,646 Bitcoin mined year-to-date and owned 2,128 Bitcoin or Bitcoin equivalent by the end of October. They also announced a mining expansion that comes from adding 220 PH/s to its total capacity, “bringing the Company’s mining capacity to 1.295 EH/s”. Recently, Argo Blockchain announced they are investing in the construction of an 800-megawatt crypto mining facility in Texas that could cost between .5 and billion. It is being built on 320-acre land purchased for .5 million. Questions were raised about Argo’s lack of clarity around the costs of the mining facility, but Argo declared the estimated cost of building and kitting based on “numerous assumptions” and defended the investment.
Our investments in mining facilities are designed to significantly expand our mining capacity and provide us with meaningful control over our mining operations. We are taking these steps as part of a broader strategy to shift our business from contracting for hosting of our mining machines in facilities to owning and operating our facilities.
Related Reading | Bitcoin Mining Vs. The World: BTC Leads Sustainable Energy
Argo Blockchain is listed in NASDAQ Global Market, and its market capitalization is approximately 3 million.
Bitcoin Price Rallying Above ,000 on Tuesday | Source: BTCUSD TradingView
NewsBTC
Craig Wright Talks Bitcoin SV with Senior UK Politicians, Says nChain Exec
Rumours are circulating that the main Bitcoin SV (BSV) proponent Craig Wright has been in private talks with members of the UK’s House of Lords. An nChain executive said Wright spoke for the senior British politicians yesterday.
Osmin Callis claims that Wright used the opportunity to explain Bitcoin SV’s benefits to the senior legislative house. Those in attendance were reportedly welcoming of his ideas.
Did Craig Wright Really Just Shill Bitcoin SV to UK Politicians?
Craig Wright is perhaps the cryptocurrency industry’s most controversial character. Whether rightly or wrongly, most in the industry know him firstly as the man who lied about creating Bitcoin.
There are many doubters to Wright’s version of events. Those who have studied his claims in detail have discovered various inconsistencies within the story. An overwhelming majority of those interested in cryptocurrency, therefore, refuse to believe Wright could have been integral to the creation of Bitcoin.
Wright claims BSV, a hard fork of Bitcoin Cash (itself a hard fork of Bitcoin), is closer to the original vision of Bitcoin than what he calls Bitcoin Core (BTC). His company, nChain, has spent the last few years patenting various ideas relating to blockchain technology.
Wright recently claimed in an interview reported by NewsBTC that central banks wanting to create their own digital currencies might benefit from either adopting Bitcoin SV or consulting with nChain.
Memorable evening at the House of Lords watching Craig give a rousing speech to a private audience, explaining the benefits of bitcoin to government and society. Great intro from @SebPloetzeneder.They were really warm and welcoming to him and his ideas. When you know, you know.
— Osmin Callis (@CallisOsmin) January 30, 2020
If recent rumours are true, it looks like Wright is already talking Bitcoin SV with some pretty powerful people. Business developement manager at nChain, Osmin Callis, claims Wright spoke at the House of Lords last night to private audience.
Osmin says that Wright explained the benefits of the cryptocurrency to the unknown audience. The wording of the above tweet strongly hints that those in attendance are members of the UK government.
Wright/House of Lords Meeting Still Very Much a Rumour
Unfortunately, NewsBTC was unable to find anything in the way of documentation to support Callis’s claims. However, lending some credence to claim is the fact that Wright’s right hand man and fellow Bitcoin SV advocate Calvin Ayre retweeted the above post today.
Callis doesn’t give much detail about what supposedly went on at the meeting. She claims Wright spoke to a “private audience” and he explained “the benefits of bitcoin to government and society” to them. She does not, however, elaborate as to who exactly was present.
The only other details we have at present are that nChain’s business education and communications manager Sebastian Plötzeneder introduced Wright and that the Lords were “welcoming” to both Wright himself and his ideas. Little more than a rumour at present, NewsBTC will bring further updates on this story as it continues to develop.
Related Reading: This Billionaire Bitcoin Investor Gives 3 Catalysts That Could Send Price Flying
Featured Image from Shutterstock. The post appeared first on NewsBTC.
NewsBTC
Former SEC Senior Counsel Joins US Security Token Platform As Chief Legal Officer
n TokenSoft hired Alex C. Levine as its chief legal officer to work on the firms regulatory compliancen
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7
Stablecoin Adoption Can Impact Economy, Warn Senior US Regulators
n Senior U.S. financial regulators warn that stablecoins pose risks to the economy in an annual report from the Financial Stability Oversight Council n
CryptScout #BitFeed RSS – Bitcoin and Cryptocurrency News 24/7