Tag: Bitcoin News

Moody’s downgrades El Salvador’s long-term foreign currency issuer rating, and it has a Bitcoin connection

Moody’s, a popular financial credit rating business has downgraded El Salvador’s long-term foreign-currency issuer and senior unsecured ratings to Caa1 from B3. The rating group also lowered El Salvador’s foreign-currency country ceiling to B2 from B1. It said the current outlook remains negative towards the small Central American nation. Moody’s cited two key reasons for […]

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Bitcoin (BTC) Closes 10 Daily-Green Candles in a Row After 4 Years, Price Soars to $42K

Bitcoin’s (BTC) price soared above $42K earlier today for the first time in a month as the top cryptocurrency looks to move out of a two-month-long bearish phase. The price rise saw BTC record a new monthly high of $42,235 before retracing below $42K. The next resistance lies at $45K and if BTC manages to […]

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MicroStrategy’s Michael Saylor Defends the Massive $2.2 Billion Bitcoin (BTC) Debt

On Thursday, July 29, business intelligence firm MicroStrategy revealed its second quarter results for 2021 declaring over $600 million with impairment losses with its bitcoin holdings. But company CEO and Bitcoin evangelist Michael Saylor continues to remain ultra-bullish on the future of Bitcoin. Saylor noted that buying Bitcoin right now is similar to buying Bitcoin […]

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Bitcoin (BTC) Shoots $42,000 As $45 Billion Asset Manager GoldenTree Starts Buying

Institutional inflows in Bitcoin (BTC) continue to grow at a faster rate. Just two days after banking giant State Street announced its crypto services, another $40+ billion asset manager GoldenTree has announced its investment in the world’s largest cryptocurrency. As a result, the Bitcoin (BTC) price is up 5% today shooting all the way to […]

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MicroStrategy reveals nearly $690 million in impairment losses on BTC holdings

The Business intelligence organization, MicroStrategy has shared its second-quarter financial results for 2021 that revealed impairment losses of $689.6 million from its Bitcoin holdings. The Fortune 500 company holds $2.051 billion worth of BTC bought at an average price of $19,159 per bitcoin till June 30, 2021. The losses are mainly because the price at […]

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Bitcoin (BTC) Exchange Outflows Hit 5-Year High, Address Activity Shoots 30%

As Bitcoin (BTC) continues to flirt around $40,000 levels, its fundamentals and on-chain metrics are showing significant improvement. On Wednesday, July 28, the Bitcoin blockchain registered the largest ever net outflows in 5 years since 2016. On this day, the exchange balance dropped by more than 60,000 Bitcoins in total. This is certainly a bullish […]

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Bitcoin Price Prediction: BTC Bullish Outlook Steadies Above $40,000 As PayPal Launches Crypto Exchange In The UK

A daily close above $40,000 could see Bitcoin nurture a key uptrend to $50,000. PayPal to debut a crypto exchange platform in the UK as the market turns green. Bitcoin must target a break above the 100 SMA in the short term to validate the impending upswing. Bitcoin price has remained pivotal at $40,000 for […]

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Tesla’s Bitcoin Holdings Back in Profit After BTC Breaks $40K

Tesla’s Bitcoin (BTC) holdings were barely afloat amid the global crypto decline. Tesla had bought $1.5 billion worth of BTC at approximately $35,000 at the beginning of 2021. However, they sold 10 percent, i.e., over $270 Million in the first quarter during the month of April when BTC was priced at $55k. Nevertheless, now that […]

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Bitcoin records largest single-day Exchange outflow in 1-year as BTC price breach $40K

Bitcoin price is currently hovering around the $40,000 mark after breaking out of the $35k resistance and forming good support at $38,800. The top cryptocurrency hit a monthly high of $40,816 earlier today before retracing under $40K again. The on-chain data suggest traders have turned bullish again as they expect BTC to solidify its position […]

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Bitcoin rewards app Lolli raises $10 Million in Series A Funding

The Bitcoin (BTC) reward application, Lolli announced today that it has raised over $10 Million in their latest funding round led by the venture firm, Acrew Capital. Furthermore, they shared that Acrew had collaborated with Banana Capital, Up North Management, and Animal Capital, the Gen. Z-focused venture capital fund founded by social media influencers Josh […]

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