Cryptocurrency

Schiff says the latest inflation figures show that the central bank’s interest rate measures are not doing enough to curb inflation. While he sees it as a worrying sign, the fact that Jerome Powell, current Fed head, called Bitcoin a digital alternative to gold did not encourage Peter Schiff.For him, Bitcoin is neither money nor an adequate substitute for gold. The prospect of the cryptocurrency integrating with state mechanisms raises further concerns, suggesting the potential for economic disruptions, per the expert’s reflections on adding Bitcoin to strategy reserve calls.However, a different narrative is emerging from BlackRock (NYSE:BLK), the world’s largest asset manager. Bitcoin has not just entered the conversation but, in the view of one of the world’s largest hedge funds, has matured enough to claim a strategic spot in traditional portfolios.Low correlation with traditional markets is a key point in BlackRock’s argument. While Schiff critiques Bitcoin for its lack of intrinsic value, BlackRock sees it as a hedge against systemic risks, such as geopolitical tensions and fragmented financial systems. Even with its swings, Bitcoin’s calculated inclusion, the report notes, mirrors the risk levels of tech giants dominating portfolios today. By embracing cryptocurrency, BlackRock signals a growing institutional shift that defies traditional skepticism.This article was originally published on U.Today More

Satoshi Nakamoto’s final post on the Bitcoin forum on Dec. 12, 2010, and subsequent disappearance on Dec. 13 of the same year marked a defining moment in Bitcoin’s history. Satoshi’s departure shifted the responsibility of Bitcoin’s development and governance to its decentralized community.Fourteen years later, Bitcoin remains a testament to the power of decentralized technology, thriving without its creator’s direct involvement. The leading cryptocurrency has evolved into a multi-trillion-dollar asset class, inspiring the creation of thousands of cryptocurrencies and blockchain-based apps.To this day, Satoshi Nakamoto’s true identity remains unknown. Speculation has ranged from a single individual to a group of developers, but no conclusive evidence has emerged.According to Glassnode, the Bitcoin network has grown by leaps and bounds since the Genesis Block, achieving a market capitalization of $2 trillion, flipping silver in value and settling $131 trillion in volume via 1.12 billion transactions.Throughout this era of exceptional market boom, investors have realized a total of $1.27 trillion in profit and -$592 billion in losses on-chain, resulting in a cumulative net capital inflow of $750 billion, highlighting the tremendous value that has flowed into the Bitcoin network over its lifetime.On Dec. 5, notable aggregate balances included 1.8 million BTC (9.1% of the supply) held on exchanges and 1.1 million BTC (5.6% of the supply) managed by U.S.-based ETFs, indicating exceptional growth since their launch on Jan. 11, 2024. Furthermore, miners (excluding Patoshi) possessed 700,000 BTC (3.5% of the supply), whereas the U.S. Treasury had 187,000 BTC (0.9% of the supply), demonstrating the vast spread of ownership across various entities.This article was originally published on U.Today More

This article was originally published on U.Today More

Transak, a global leader in Web3 payments infrastructure, has officially launched Transak Stream, a groundbreaking innovation that redefines the crypto-to-fiat off-ramping experience. This new product delivers unmatched simplicity, making stablecoin and cryptocurrency conversions to fiat as seamless as sending a token between wallets.Imagine this: A user with a Web3 wallet wants to withdraw $1,000 USDC. All they need to do is send their crypto to their unique Transak Stream Address. Within seconds, the equivalent fiat amount is deposited into their bank account or card— no order placement, no need to open additional apps, no widget.Click here to see Transak Stream in actionSuch a smooth, hassle-free process transforms the off-ramp experience, making it incredibly user-friendly while offering wallet partners and platforms a competitive advantage, i.e., enhanced user retention, higher conversions.“Our goal was simple, yet ambitious — make crypto as intuitive as cash. Transak Stream is a giant leap in that direction. It makes crypto transactions feel as natural as everyday payments,” said Sami Start, CEO of Transak.1. Send Stablecoins or Crypto: Users simply send their assets to their unique Transak Stream Address.2. Instant Fiat (BIT:STLAM) Payout: The fiat equivalent is instantly deposited into their linked bank account (SEPA, FASTER) or card (Visa/Mastercard).This innovative approach streamlines the traditionally cumbersome multi-step off-ramping process. Transactions that once took ~5 minutes or more are now completed in seconds, making it easier to integrate stablecoins and crypto into real-world financial use cases. In a live test, Transak compared its standard off-ramp with the new Transak Stream. The results were striking: while the standard process took approximately 4 minutes, Stream enabled cash-outs in just 19 seconds.“Transak Stream bridges the gap between crypto and fiat with the simplicity users deserve and the compliance businesses demand,” said Yeshu Agarwal, Co-Founder & CTO of Transak. “With Visa (NYSE:V) Direct and stablecoins like USDC at the core, we’re creating an ecosystem where crypto becomes as easy to use as traditional money.”“Our goal with Transak Stream is to create a future where crypto flows seamlessly into real-world financial systems,” added Agarwal. “Visa Direct and Circle are integral to making this vision a reality, enabling secure, scalable, and compliant transactions across borders.”Visit Transak.com/integrate-stream to get Transak Stream for your appHeadquartered in Miami, US, and incorporated in Delaware, Transak has a tech hub in Bengaluru and offices in London, Milan, Dubai, and Hong Kong.For more information, visit https://transak.com/ or follow us on x.com/transak and linkedin.com/company/transakContactHarshit GangwarHarshit.Gangwar@transak.comThis article was originally published on Chainwire More

On Dec. 5, after 5,256 trading days, the Bitcoin price crossed $100,000 for the first time, and the market capitalization briefly surpassed $2 trillion.According to on-chain analytics platform Glassnode, Bitcoin miners have earned $71.49 billion since inception, demonstrating the network’s robust security and economic incentives.As of Dec. 5, when Bitcoin first hit $100,000, Bitcoin miners’ revenue for securing the network and processing transactions stood at $71.49 billion. This includes $67.31 billion in block subsidies and $4.18 billion in transaction fees. A total of 19,791,952 BTC have been mined, representing 94.2% of the total 21 million supply cap. Since the Genesis Block, 873,304 blocks have been mined, with an average block time of 11.8 minutes for Bitcoin to reach the historic price of $100,000 on Dec. 5, 2024. After 418 difficulty adjustments, excluding periods without adjustment, network difficulty has risen to 446,331,432,498,125,300,000,000, as Bitcoin’s security and computational power continue to grow.By the time Bitcoin reached $100,000, the network hashrate had increased from 128,185 hashes/sec to more than 804,407,834,059,443,100,000 hashes/sec. Miners have collectively computed roughly 5.01 x 1028 hashes to date. Interestingly, 37% of the entire computed hash occurred in 2024.Bitcoin has also seen exceptional transaction growth. To date, the network has successfully processed 1.12 billion transactions (unfiltered). Since the Genesis Block, Bitcoin has processed $131 trillion in transfer volume.Bitcoin’s price has been actively traded for 5,256 days and has ranged from fractions of a cent to $100,000. This journey has seen 72 positive monthly candles (including December 2024), with an average increase of 37.4%, and 71 negative monthly candles, with an average drop of -14.2%.According to Glassnode, during this period of unprecedented market boom, investors made a total of $1.27 trillion in profit and -$592 billion in losses on-chain.At the time of writing, BTC was up nearly 2% in the last 24 hours to $100,290.This article was originally published on U.Today More

As the world’s pioneer cryptocurrency, BTC, has recovered the $100,000 price level, Keiser has sent gold lovers a message via his official account on the X network (formerly popular as Twitter).That warning came after El Salvador’s political leader, Nayib Bukele, found out that the country’s unearthed deposits contain $3 trillion worth of gold.However, the total potential gold deposits promise to surpass $3 trillion, which would exceed the country’s GDP by more than 8,800%.According to the president, they have also come across gallium, tantalum, tin and “and many other materials needed for the 4th and 5th industrial revolution.”Metal mining has been prohibited for many years in the country due to heavy pollution of the local rivers. However, Bukele is considering lifting that ban and cleaning them rather than preventing the pollution from spreading further by not mining the metals.Keiser quoted that tweet, saying that be believes selling gold (“at a suitable discount”) for Bitcoin is the only way for gold investors to stay profitable. Bitcoin, Keiser believes, is demonetizing gold and is going to take it down to zero in the end. Therefore, he said, “The pool of potential future buyers of Gold is rapidly shrinking and without buyers, the mined Gold would have no value.”Currently, Bitcoin is trading at $101,240 per coin after showing a 7.22% increase over the past two days.This article was originally published on U.Today More

This stone circle likely symbolizes coins and all the early forms of money known by humanity. The tweet itself says: “Bitcoin is better money,” meaning that Saylor believes Bitcoin surpasses all seashells, stones, skins and so on that have been used as money since humans invented this means of exchange.As of this writing, Bitcoin is trading at $101,365 per coin after demonstrating a 7.33% increase over the last two days and recovering from the $94,500 zone.Rasmussen shared an outlook that in 2025, Bitcoin would surge to hit $200,000 after it finally broke above the $100,000 level in December this year. He shared a list of the catalysts they expect to fuel that price surge. That list included corporations buying BTC, the creation of the U.S. Strategic Bitcoin Reserve, the improvement of the regulatory and political climate, the tightening of the Bitcoin supply as a result of the 2024 halving and much bigger spot ETF inflows.There were also hurdles he shared: governments selling Bitcoin, leverage blowout, disappointing rate cuts.As for Michael Saylor, he believes that 10 years from now, Bitcoin will easily be worth $13 million per coin, as it will have taken away part of gold’s market share by then.This article was originally published on U.Today More

Bitcoin rebounded to a high of $101,201 in Wednesday’s session after two days of falls, as firming expectations of a Federal Reserve interest rate cut boosted investor sentiment. Speculators increased their bets on a decrease after U.S. consumer-price inflation met expectations.The consumer price index report for November published by the Bureau of Labor Statistics on Wednesday showed a 12-month inflation rate of 2.7% and an increase of 0.3% on a monthly basis.Core inflation, excluding food and energy prices, was 3.3% annually and 0.3% monthly. These figures were consistent with the Dow Jones consensus estimates.The report comes ahead of the Federal Reserve’s final policy meeting next week, where rate cuts will be announced. There is a strong expectation that the Fed might cut rates further in the meeting with traders, pricing in a nearly 99% chance of a quarter-point rate cut, but that the Fed might skip a January cut as it measures the impact previous cuts have had on the economy.Investors are expecting more economic data, with the November producer price index report due out on Thursday.Bitcoin changed hands at $100,839 as of press time, holding half of a nearly 5% gain from the day before, the largest in two weeks.Following a retest of the $100,000 mark, with Bitcoin reaching highs of $101,984 on Wednesday and $101, 953 today, all eyes are on where Bitcoin will go next.The year 2024 was a landmark year for crypto, and expectations are in place for 2025 which Bitcoin ETF issuer Bitwise predicts might mark the beginning of a golden era for crypto. Bitwise recently released 10 predictions for the year ahead, among which it predicts higher inflows for Bitcoin ETFs and a BTC price above $200,000.This article was originally published on U.Today More