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Bitcoin

Bitcoin is a new electronic payment system that removes the need for third party financial institutions. It speeds up transactions while reducing costs and minimizing the potential for fraud. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.

Bitcoin’s concept was first introduced in 2008 when a person going by the pseudonym Satoshi Nakamoto shared a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” In January 2009, the Bitcoin blockchain was launched. 

A new electronic payment system called Bitcoin removes the need for third-party financial institutions. It speeds up transactions while reducing costs and fraud-risk. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.   

Bitcoin has a finite supply of 21 million, which is expected to be reached by the year 2140. Currently, 18.8 million are circulating in the market. Note that Bitcoin represents the concept of the network, while bitcoin (lower-case ‘b’) represents the currency.

Bitcoin is one of the most well-known cryptos as it was the first decentralized currency. 

Currently, BTC’s dominance is above 40%. Bitcoin Dominance is a measure of how much of the total market cap of crypto is made up of Bitcoin. Bitcoin’s influence in the crypto ecosystem could be vulnerable to competition as alternative coins grow in popularity and utility.

Block says this is one of the largest ASIC agreements ever signed in the history of Bitcoin mining.

Jack Dorsey's Block Sells First Bitcoin Mining Chips to Core Scientific

The Republican National Committee has released a new party platform that promises to support crypto and oppose the creation of a central bank digital currency (CBDC). The platform, which former president Donald Trump promoted on social media, claims Republicans will “pave the way for future economic greatness by leading the world in emerging industries.

Republican National Committee Party Platform Includes Plan To ‘Oppose CBDCs' and ‘Defend Right To Mine Bitcoin'

Fresh data showed Bitcoin's (CRYPTO: BTC) correlation with major U.S. equity indices has fallen to its lowest point in several months. What Happened: The 30-day Pearson correlation of Bitcoin to the Nasdaq Composite and the S&P 500 has dropped to -0.84 and -0.82, respectively.

Bitcoin Hasn't Correlated With US Equities In Months

Bit Digital, Inc. (NASDAQ:BTBT), a company engaged in bitcoin mining and various digital asset activities, has recently shown signs of a significant bullish technical pattern known as the ‘Golden Cross .' Despite a challenging year with Bit Digital's stock down 13.03% over the past year and 17.97% year-to-date, the recent technical indicators suggest a potential upside ahead.

Bit Digital Strikes Gold: Bullish Signals Shine Bright For Bitcoin Miner

Bitcoin has experienced its steepest decline in the current cycle, trading over 26% below its all-time high (ATH), according to onchain analysis firm Glassnode. This contraction has significantly affected short-term holders, with over 2.8 million BTC now below their acquisition price.

Glassnode Report Says Bitcoin Market Structure Remains Strong Amid Steep Decline

There's an inherent paradox in watching a censorship-proof network at play - sometimes rewarding Russian militias but also providing essential value for Ukraine.

Resistance Money: A Review On The Philosophy Of Bitcoin

Despite selling pressure from Mt. Gox distributions and the German government, bitcoin could rally in the second half of the year.

Bitwise CIO says key tailwinds could drive bitcoin to $100,000 by year-end

The German government's decision to sell a substantial portion of its Bitcoin (CRYPTO: BTC) holdings has sparked controversy, highlighting the complexities of digital asset management in national financial strategies. Joana Cotar, a member of the German Bundestag, has publicly condemned the large-scale sales, calling them “insensible and counterproductive.

German Bitcoin Liquidation Criticized As 'Insensible And Counterproductive' With Market Concerns Rising

Bitcoin is it a crucial stage in this market cycle as several factors signal continued downside whilst others indicate that BTC is set to bottom out.

Bitcoin at Pivotal Point as Bear Market Beckons: Onchain Data

Bitcoin (CRYPTO: BTC) spot ETFs recorded $216 million in net inflows on Tuesday after an already strong start to the week. What Happened: SoSoValue data shows BlackRock‘s iShares Bitcoin Trust (NASDAQ:IBIT) leading the charge with $121.03 million in inflows, followed by Fidelity‘s Fidelity Wise Origin Bitcoin Fund (BATS:FBTC) with $90.95 million.

Bitcoin Spot ETFs Keep Buying The Dip This Week: Here's Why

A new agreement between Block and Core Scientific provides the option for additional volume and is one of the industry's largest bitcoin mining ASIC agreements.

Dorsey's Block partners with Core Scientific for bitcoin mining chip project

Bitcoin prices recently saw a near 6% dip as Mt. Gox began issuing long-overdue payments to its creditors, marking a crucial moment in resolving one of the most infamous events in cryptocurrency history.

Mt. Gox Begins Long-Awaited Bitcoin Payouts: What It Means For Crypto Market

Over the course of nearly 20 hours, the German government has sold 9,736 BTC valued at $564.3 million. The government's BTC wallet currently holds 13,110 BTC worth $767 million. German Government's Swift Bitcoin Sales Could Soon Lead to Total Reserve Depletion At 1:16 p.m. EDT on July 9, Bitcoin.

German Government Offloads 9,736 BTC in 20 Hours; Reserves Could Deplete by Tomorrow

Foundation's co-founder and CEO Zach Herbert is on a mission to create Bitcoin products with the sleekness and usability of Apple devices but that also protect user privacy and are built with open-source code.

Foundation Devices Aims To Build The iPhone Of Bitcoin Hardware

Long-term holders of bitcoin are now accumulating their coin stashes at the fastest rate in over a year, according to CryptoQuant.

Bitcoin whales are accumulating at their fastest rate since April 2023: CryptoQuant

Bitcoin (CRYPTO: BTC) has been weighed down by Germany liquidating Bitcoin holdings, but fresh analysis points to further downside being limited. What Happened: Economist and crypto trader Alex Krüger pointed out that Germany's equivalent of the FBI held 50,000 Bitcoin until late June.

How Low Will Bitcoin Go If Germany Sells All Its BTC?

The EIA is hosting a webinar on mining energy use at 12:00 PM Central Standard Time today, July 10th.

EIA Hosting Bitcoin Mining Energy Use Webinar Today

The 11 U.S. spot bitcoin exchange-traded funds (ETFs) saw inflows for the third consecutive day on Tuesday, bringing in $216.33 million. Blackrock's IBIT was the top performer, securing $121.03 million during the trading sessions. Fidelity's FBTC and Blackrock's IBIT Drive Bitcoin ETF Gains With Tuesday's gains, the cumulative total net inflows for U.S.

Bitcoin ETFs Capture $216M in Third Consecutive Day of Inflows

The Bitcoin mining industry saw major developments this week, including Block and Core Scientific's agreement, Bitfarms' new CEO, and a Bitcoin Policy UK study.

Major Moves By Block, Core Scientific, Bitfarms, And Bitcoin Policy UK

Block And Core Scientific Partnership To Decentralize Bitcoin Mining

Santa Monica became the first U.S. city to open an official Bitcoin office, partnering with Proof of Workforce to provide Bitcoin education and explore potential economic opportunities.

The City of Santa Monica is Opening a Bitcoin Office

The latest price moves in bitcoin (BTC) and crypto markets in context for July 10, 2024. First Mover is CoinDesk's daily newsletter that contextualizes the latest actions in the crypto markets.

First Mover Americas: Bitcoin Climbs Back Above $59K, but Rally Could Be Short-Lived

Bitcoin's correlation with the Nasdaq Composite and the S&P 500 has fallen to a multi-month low, according to data from The Block.

Bitcoin's correlation with US equities falls to multi-month low

Michael Saylor is regarded as one of the most influential advocates of Bitcoin (CRYPTO: BTC), and his firm MicroStrategy Inc. (NASDAQ:MSTR) has evangelized the digital asset with its continued purchases. The entrepreneur's ultra-bullish forecasts about the digital currency have been taken with a pinch of salt.

Michael Saylor Made A Prediction About The iPad 12 Years Ago When Tablets Were In Their Infancy, Will His Similarly Bold Prophecy On Bitcoin Also Come True?

Bitcoin.com is relaunching its Discord community channel. To celebrate, Bitcoin.com is hosting weekly contests with various prizes. Join the community to participate in quizzes, discussions, and more for a chance to win. Join the Community and Win $1000, Sold-Out NFTs, Bitcoin, and More! Bitcoin.

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