TL;DR news on Bitcoin at February 19, 2023
Source: Coin360 Market sentiment toward cryptocurrencies has soured in recent days after it was revealed that Tesla is no longer accepting Bitcoin payments for its automobiles. Bitcoin Treasuries, which tracks corporate and institutional exposure to BTC, reported Saturday that institutions have accumulated 215,000 Bitcoin in the past 30 days. Norwegian Oil Mogul Dives Deeper Into Bitcoin Norwegian oil billionaire Kjell Inge Rokke believes that bitcoin could be worth millions of dollars. Kevin Helms A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. Long before Bitcoin blew up, though, it was simply a theoretical concept in an academic paper, published by an anonymous person using a pseudonym. You can't actually hold a Bitcoin in your hand, but you can make a ton of money off of one. Mistrust of banks was one of the key contextual elements of the beginning of Bitcoin, as it started in the midst of the 2008 financial crisis. 1970) invented Hashcash, which uses a "proof of work" system that will later make Bitcoin mining possible. Congress Wrangles With Agreement To Solve Government Shutdown] Drew Angerer 30 of 30 The Future of Bitcoin The future of Bitcoin rests in the hands of government oversight. The company doesn't report Bitcoin production numbers on a consistent basis, so it's hard to calculate a detailed performance versus just buying Bitcoin. Fans to Pay With Crypto for Festival Passes and Accommodation Bitcoin, the organizers say, is a fast and secure currency that has dramatically challenged the current norms of finance and governance. But does it feel like you got your two kids turning on each other when you're looking at Elon taking on Bitcoin here? Talking about your take here, as it looks like the kids are fighting. And the fact that Bitcoin has been appreciating quite handsomely since the beginning of the year, some kind of correction at some stage is inevitable. It will have the effect of kicking the conversation about Bitcoin's energy mix up to a new level, which is very welcome by the Bitcoin community. If you look at the way that Bitcoin mining and cryptocurrency mining currently exists around the world, we're talking about a mere couple of basis points of global CO2 emissions on an annual basis. And so, the ability to look at transactions, trace them back through history, you can actually see where your Bitcoins have resided, every address, every transaction they've ever been a part of. And again, this really represents an opportunity as an industry for us to focus on how renewables can play a role in supporting the Bitcoin network. I think traders are looking at fundamentals, the role that Bitcoin plays in their portfolio, achieving higher risk adjusted returns by incorporating digital currencies into a diversified portfolio. We've already accomplished this with two of our other products in the Grayscale family, the Grayscale Bitcoin Trust and the Grayscale Ethereum Trust. I mean, what are the odds of this happening at this point, say, before the end of the year? MICHAEL SONNENSHEIN: We continue to believe a Bitcoin ETF is a matter of when and not a matter of if. In a Twitter post, Musk cited the environmental impact of Bitcoin mining, which has been cited by critics for being energy intensive and a detriment to the climate. The development came as a shock to Tesla observers, given that the car company only recently disclosed it had put $1.5 billion worth of Bitcoin on its books, and would begin accepting it for payment. Bitcoin Cash Update Applied Successfully The latest Bitcoin Cash update, which proposed a set of important changes, was applied successfully to the network Saturday afternoon. Related stories: Crypto tears: Bitcoin miners face blame for Abkhazia energy crisis How cat videos could cause a 'climate change nightmare' The coronavirus pandemic drove life online.