Bitcoinization: JPMorgan Notes ‘Similarly Situated’ Countries Could Make Bitcoin Legal Tender Like El Salvador

JPMorgan struggles to “see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” Commenting on El Salvador’s bitcoinization, JPMorgan did not rule out that the country’s move to make the cryptocurrency legal tender may be “the beginning of a broader trend among similarly situated, smaller nations.” JPMorgan’s Opinion on Bitcoinization in El Salvador Investment bank JPMorgan released a report Friday titled “The Bitcoinization of El Salvador.” The country’s congress passed the bill making bitcoin legal tender on Wednesday, becoming the first nation to do…

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Here’s how Bitcoin’s impending death cross could be a contrarian buy signal

Bitcoin traders are sitting on their hands after spotting a death cross on the daily chart but could this be a buy signal for contrarian investors? Bitcoin’s (BTC) succession of sharp corrections from its all-time high at $64,900 has turned investor sentiment negative, at least for the short-term. While some analysts believe the bottom may have been hit, others are warning of a further fall due to the “Death Cross” pattern that, at the time of writing, is on the verge of completion.  For new traders, the name death cross…

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An Open Letter To The Nigerian Government: Pursue A Bitcoin Standard

NFL star and Nigerian descendant Russell Okung asks the Nigerian government to adopt a Bitcoin standard or risk falling behind. Greetings President Muhammadu Buhari, The hope of Nigeria lies within this generation. I am proudly a Nigerian descendant living in America and am a proponent of Bitcoin. I write to urge the Nigerian government to pursue economic independence and financial sovereignty by pursuing a national Bitcoin standard. Soon every nation will be faced with this decision, but those who seize the present moment proactively as we have just witnessed in…

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SEC and CFTC Caution Investors About Funds Trading in Bitcoin Futures

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have warned investors of the risks of investing in funds with exposure to bitcoin futures. The SEC published an investor alert on funds trading in bitcoin futures Thursday. The alert comes from the SEC’s Office of Investor Education and Advocacy (OIEA) and the CFTC’s Office of Customer Education and Outreach (OCEO). They pointed out that some funds may engage in the trading of bitcoin futures contracts as a way to gain exposure to bitcoin, emphasizing that…

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Nvidia CEO: We’re “on the cusp of” a blockchain and NFT-enabled metaverse

Nvidia’s new Voyager campus is serving as a test ground for what it will look like when then Metaverse meets the physical world. One of the most powerful men in tech thinks that the metaverse — a term for a series of interlinked, persistent virtual worlds with self-contained economies — is just around the corner.  One of the most exciting use cases for blockchain and NFTs, enthusiasts inspired by Neal Stephenson’s Snow Crash have long been hoping for a VR/AR world with a crypto-powered internal market. Now, however, Nvidia CEO…

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Stock-to-Flow Creator Says ‘$288K Still in Play,’ Mike McGlone Sees an ‘Ace up Bitcoin’s Sleeve’

The popular Twitter account and creator of the bitcoin stock-to-flow (S2F) price model explained that “$288K [is] still in play.” Meanwhile, data from the exchange Deribit shows there’s 425 bitcoin call options with a strike price of $200K set for December 31, 2021. Plan B Says: ‘$288K Still in Play’ On June 12, 2021, while bitcoin (BTC) prices have been hovering just above the $35K zone, the popular Twitter account Plan B (@100trillionusd) told his 553,000 followers that six-figure bitcoin prices are still intact. Plan B is a pseudonym and…

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Ethereum’s $1.5B options expiry on June 25 will be a make-or-break moment

Bulls and bears are equally nervous about the possible outcome of the June 25 $1.5 billion Ethereum options expiry. On June 25, Ether (ETH) will face its largest options expiry in 2021 as $1.5 billion worth of open interest will be settled. This figure is 30% larger than March’s 26 expiry, which took place as Ether price plunged 17% in 5 days and bottomed near $1,550.  However, Ether rallied 56% after March’s options expiry, reaching $2,500 within three weeks. These moves were completely uncorrelated to Bitcoin’s (BTC). Therefore, it is…

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Taproot Lock-in Achieved — Bitcoin Network Set to Activate Biggest Upgrade in Four Years

The ‘Speedy Trial’ lock-in period for the Bitcoin network upgrade Taproot is now complete. Data from taproot.watch details the lock-in has been achieved and it was locked in at block height 687,285 and mined by the mining pool Slushpool. Bitcoin Taproot Lock-in Complete at Block Height 687,285 Taproot is coming this November as the web portal taproot.watch indicates that the lock-in period of signaling has finished. “This period has reached 1815 Taproot signaling blocks, which is required for lock-in.” The Taproot upgrade is considered one of the largest upgrades in…

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Taproot Activation Brings Massive Upgrades To Bitcoin

Taproot brings new optimizations to security and usability to the Bitcoin network as the activation is locked in. By the time this is published, Taproot will be locked-in for activation. This means that on block 709,632 (mid-November 2021), the new rules defined by a series of Bitcoin Improvement Proposals (BIPs) will be activated and start being enforced. This is a momentous achievement for Bitcoin and will enable so many awesome new things for not just Bitcoin but everything built on top of it, too. Previously, it was debated if Bitcoin…

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A new milestone for Bitcoin, COVID hits conference, Buterin’s DOGE payday: Hodler’s Digest, June 6–12

Coming every Saturday, Hodlers Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more a week on Cointelegraph in one link. Top Stories This Week   Bill to make Bitcoin legal tender passes in El Salvador El Salvador has officially become the first country in the world to adopt Bitcoin as legal tender. A law outlining the proposals, introduced by President Nayib Bukele, passed with a supermajority, attracting 62 out of…

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