Anthony Scaramucci On The Rationale For His 6-Figure Bitcoin Price Target - Benzinga


Benzinga 23 July, 2021 - 10:19am 46 views

Does spacex own Bitcoin?

The billionaire chief executive said he also owns ethereum and dogecoin, other cryptocurrencies, though those holdings are worth less than his bitcoin stake. ... Appeared in the July 22, 2021, print edition as 'Musk, SpaceX Own Bitcoin.' The Wall Street JournalTesla CEO Elon Musk Says He Personally Owns Bitcoin—and So Does SpaceX

“Great to see Jack and the crypto community supporting the #ETH athletes!” the Official Olympics account posted earlier today after Ethereum got a new ‘logo’.

Given Twitter CEO Jack Dorsey’s love of Bitcoin and the fact Bitcoin has its own Twitter icon many wondered if Dorsey was subtly trolling Ethereum (ETH). After all he’s a staunch Bitcoin (BTC) maximalist that has refused to consider buying into ETH and other altcoins on multiple occasions and has repeatedly stated that Bitcoin will become the internet’s native currency.

The Twitter and Square founder certainly saw the funny side of it, Tweeting “#eth”  which drew the attention of the official Olympics account which said it was “great to see Jack and the crypto community supporting the #ETH athletes!”

Twitter influencer Crypto Cobain also found the funny side and tweeted “HAHA” to his 403,400 followers that “this is perfect.”

NFL footballer Sean Culkin, who is converting his entire 2021 NFL salary into Bitcoin, wondered why so many people were “not realizing its a troll”

Bitcoiners such as "Bitcoin Meme Hub" jumped in the joke by posting fake Tweets from Ethereum co-founder Vitalik Buterin supposedly stating that "this is not funny Jack."

In fact, the Ethiopian flag had nothing to do with Ethereum at all. The social media platform has been attaching flags to hashtags of nations competing in the 2021 Tokyo Olympics. The promotion is part of a 'hashflags' campaign that the platform also did for the 2016 Olympics in Rio De Janeiro.

Related: Aave founder hints at developing ‘Twitter on Ethereum’

Interestingly the Twitter CEO used the Ethiopian flag to promote Bitcoin earlier this year, after he retweeted lobbying efforts from a group of Ethiopian-based entrepreneurs dubbed “Project Mano” who were urging their government to consider mining and hodling BTC.

Dorsey this week spoke at "The ₿ Word," — a virtual Bitcoin event alongside Tesla CEO Elon Musk and Ark Invest CEO Cathie Wood. During the event, Dorsey outlined his hope that Bitcoin “creates world peace or helps create world peace.”

“We have all these monopolies off balance and the individual doesn’t have power and the amount of cost and distraction that comes from our monetary system today is real and it takes away attention from the bigger problems,” he said as he emphasized Bitcoin’s potential for solving financial inequality.

Read full article at Benzinga

Bitcoin Weekly Forecast: Musk changes tune on BTC as adoption and miners continue to make headway

FXStreet 23 July, 2021 - 04:12am

Bitcoin price revival appears to be going well considering the recent sweep of the July 15 swing high. While this uptick in the market value of BTC is bullish, there is bound to be a minor pullback that will help catapult the pioneer cryptocurrency higher.

In a conference dubbed “The B word,” Elon Musk, Jack Dorsey and Cathie Wood discussed Bitcoin and its future. In the panel that aimed to “demystify and destigmatize” the mainstream narrative of the big crypto, Tesla CEO Elon Musk revealed that it would start accepting BTC payments.

This decision comes after Musk announced Tesla’s decision to stop accepting the digital currency as payment due to its energy usage on June 13. While this ignited a new set of problems, the issue seemed to have settled after the Bitcoin Mining Council agreed on a standard to report energy usage by miners.

However, during the event on Wednesday, Musk revealed that Tesla would resume accepting BTC payments in light of the BMC’s report. 

The CEO and founder of Ark Invest, Cathie Wood, concurred with Musk and added that Bitcoin would be more environmentally friendly than gold mining or the traditional financial sector.

Speaking more on the matter, Musk mentioned that SpaceX, a private space exploration company founded by Musk, holds BTC. Although he did not reveal how much BTC SpaceX owns, the CEO confirmed that SpaceX would be playing a vital “role” in implementing the flagship cryptocurrency as a layer two standard for payments.

While the cryptocurrency markets seem to have reacted positively to this news, the mining industry continues to make progress. US-based Bitcoin mining company Core Scientific announced on July 21 that it was going public via a merger with Power & Digital Infrastructure Acquisition Corp, a Nasdaq-listed company.

This decision comes at a time when miners are struggling due to the disruption in the industry caused by China’s sanctions against digital currency mining. While this shift in paradigm affects the eastern mining companies negatively, the US and Europe-based mining organizations are flourishing.

JP Morgan set new precedence as it announced on July 22 that it would provide wealth-management clients unfettered access to Bitcoin and other digital assets. This news comes as a shock due to CEO Jamie Dimon’s distrust of the cryptocurrency industry.

Although the CEO has warmed up to the new asset class, the recent decision allows the bank’s wealth management team to trade five cryptocurrencies, including Grayscale’s offerings for Bitcoin, Ethereum, Ethereum Classic and Osprey’s Bitcoin product.

While this adds a tailwind to Bitcoin adoption, GlobalX has joined the list of companies waiting to offer a Bitcoin ETF. New York-based Global X ETFs is a member of Mirae Asset Financial Group and offers 84 ETFs.

Other notable institutions that have applied for Bitcoin ETFs include SkyBridge, VanEck, New York Digital Investment Group, Valkyrie and Wisdom Trust, ARK Investments and so on.

The latest developments point to a single fact that institutions cannot wait to get their hands on Bitcoin despite its latest slump and the recent recovery, indicating that their belief in the big crypto’s performance as a new asset class is absolute.

Although the technicals seem to be hinting at a better short-term future for Bitcoin price, the long-term use-case for BTC makes a compelling case for the recent and continued adoption.

Bitcoin price pulled a 180 as it slid below the $30,000 psychological level on July 20 and July 21. The Momentum Reversal Indicator’s buy signal seems to have come to fruition as BTC’s daily return hit 7.9% on July 21 and has been in the green over the following two days.

As the flagship cryptocurrency hovers below the $33,185 resistance level, it is essential to consider that a pullback could be in the works after a 12% upswing over the past three days.

The said correction could extend up to $30,660 or $30,350 and is necessary to reload the bullish momentum to help swoosh past $33,185, $34,666 and retest the 50% Fibonacci retracement level at $35,618.

If the buying pressure persists, allowing BTC to climb above $35,618, the June 29 swing high at $36,600 will be the likely target for the bulls.

Although there has not been a drastic increase in daily active addresses or the 30-day MVRV, the supply on exchanges has decreased after witnessing a spike on July 17. This metric reduced from 2.53 million to 2.51 million, suggesting that investors are moving BTC off centralized entities, anticipating a mark-up in its market value.

Despite the sell-off on July 17, the stablecoins held on exchanges continue to increase. This uptick indicates that investors continue to deposit capital onto centralized entities, which can be viewed as increasing potential buying pressure.

Regardless of the bullish outlook for Bitcoin price, investors need to note that the downside risk always remains. A sudden massive inflow of BTC to exchanges could quickly change the bias to bearish, triggering a sell-off.

Investors need to be aware that if something similar were to happen, the range low at $28,785 is the first line of defense. Failing to hold above this barrier will lead to a move down to the demand zone extending from $25,880 to $26,867 and the support level at $24,171.

It is interesting to note that the CME gap that extends from $23,670 to $26,535 coincides with a portion of the support levels mentioned above. 

To summarize, the markets look bullish after the recent recovery, and there is a high chance BTC might reach $36,000 and head higher. However, what is uncertain is if this run-up will be an explosive rally or a slow strut.

Regardless, investors should not rule out a dip into the confluence of the aforementioned footholds, no matter how unlikely.

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Cardano price has seen a quick run-up after approaching the trading range’s lower limit. While this uptick in ADA’s market value was obvious, investors should be aware of a minor pullback before the so-called “Ethereum killer” embarks on another leg up.

Ethereum price has sliced through vital supply barriers to assert dominance and reveal that bulls are back in town. ETH is likely to tag a psychological level, and on-chain metrics indicate clear skies for the smart contract token.

South Korea is implementing a new regulation that will require digital asset exchanges to register with the country’s financial regulator. Foreign crypto exchanges that market toward South Koreans would also need to comply.

Popular cryptocurrency platform BlockFi is facing trouble from three states in the United States, including New Jersey, Alabama and Texas. The regulators have stated that the platform’s main product may be violating securities laws.

Bitcoin price shows considerable strength after springing from the recent crashes. Still, it is uncertain whether the current bullish impulse will morph into a new uptrend or lead to a more profound decline.

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Rap Legend Busta Rhymes Officially a Bitcoin HODLer

CryptoPotato 22 July, 2021 - 10:45am

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Busta Rhymes is officially a Bitcoin HODLer. The final push was him watching the discussion between Elon Musk, Jack Dorsey, and Cathie Wood.

Trevor George Smith Jr., better known for his stage name Busta Rhymes, is now officially a Bitcoin holder. He broke the news in a tweet following yesterday’s discussion between Elon Musk, Jack Dorsey, and Cathie Wood.

After watching the #Bitcoin conference live with @jack @elonmusk @CathieDWood i’m sold on Bitcoin.

— Busta Rhymes (@BustaRhymes) July 22, 2021

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