El Salvador has announced its plan to make Bitcoin legal tender in the country, marking a first for the decentralized cryptocurrency. CNBC reports: El Salvador is looking to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender, alongside the U.S. dollar. In a video broadcast to Bitcoin…
Ross Stevens is the CEO and founder of NYDIG, the Bitcoin subsidiary of Stone Ridge, a $10 billion alternative asset manager. He and his firm have had a profound impact on institutions taking advantage of Bitcoin over the last several months. Today, Ross has made his second-ever appearance in an interview with Andrew Tsia at the MacroMinds Charitable Investment Symposium.
Elon Musk wasn’t exactly the most popular person amongst Bitcoiners last week. He spent several days criticizing Bitcoin’s energy usage (so much so that he walked back Tesla’s earlier decision to accept Bitcoin for vehicles), and pumping up his favorite altcoin, Dogecoin. Now, as the Bitcoin market takes a massive plunge, Elon says that he’s not selling Tesla’s Bitcoin holdings.
Bitcoin and the cryptocurrency market as a whole is down massively from its all-time high just a month ago. Bitcoin slid more than 20% today and is down more than 40% over the last 7 days. The cryptocurrency market cap as a whole slid over $1 trillion since last week.
Elon Musk announced this week that Tesla would pause accepting Bitcoin for Tesla purchases, citing the cryptocurrency’s energy usage. He also specifically criticized one fossil fuel power plant in New York, which as Arstechnica reported, was revived to mine Bitcoin. Now the firm behind that plant, Greenidge, is already making moves.
According to a report out of London’s Financial News, Square isn’t planning to add any more Bitcoin to its balance sheet anytime soon.
I don’t know what it is, but we’re missing something on the recent decision by Tesla and Elon Musk to walk back the company’s decision to accept Bitcoin as payment for Tesla vehicles. The series of events so far just don’t make sense, for many reasons. Let’s walk through it.
Samsung Galaxy phones have long had a feature called Samsung Blockchain Wallet, which is a Knox-secured place to store your cryptocurrency private keys. Now, Samsung has announced that the app supports hardware wallets like the Ledger Nano S.
Tesla has ceased accepting Bitcoin as a payment method for its cars, only a couple months after starting to offer the payment method. Elon cites concerns around the Bitcoin network’s energy consumption as the primary concern driving the decision.
