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World

Elon Musk makes crypto jump after his tweet says Telsa will allow Bitcoin when mining becomes clean

Elon Musk tweeted that his electric car company Tesla will resume allowing Bitcoin transactions when miners who verify transactions use more renewable energy. “When there’s confirmation of reasonable (~50 percent) clean energy usage by miners with a positive future trend, Tesla will resume allowing Bitcoin transactions,” he said in a tweet on Sunday. Bitcoin surged […]

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World

El Salvador becomes the first nation in the world to approve Bitcoin as legal tender

El Salvador approved a proposal from President Nayib Bukele for a law to classify Bitcoin as legal tender, making the Central American nation the first in the world to do so. A majority of lawmakers voted in favour of the initiative late on Tuesday to create a law that will formally embrace the cryptocurrency, despite concern […]

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World

Donald Trump sees Bitcoin as a ‘scam competing against the dollar’

Former US President Donald Trump sees Bitcoin as a “scam” affecting the value of the US dollar. “Bitcoin, it just seems like a scam,” Mr Trump told Fox Business. “I don’t like it because it’s another currency competing against the dollar.” He added that he wanted the dollar to be “the currency of the world”. […]

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Business World

El Salvador could become the first country to make Bitcoin cryptocurrency legal tender

El Salvador could become the first country in the world to make Bitcoin crypto-currency legal tender in the country. President Nayib Bukele said Bitcoin will make it easier for Salvadorans living abroad to send payments home. He said he would send the legislation to congress next week. Should it pass, the move would open up […]

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Social Media Reactions

Elon Musk’s Bitcoin breakup tweet sends the crypto market crashing

The price of bitcoin sank on Friday after Elon Musk appeared to lament the end of his relationship with the cryptocurrency. The Tesla CEO tweeted a meme about a couple breaking up along with the bitcoin hashtag and a broken heart emoji. The post included lyrics from a song by rock band Linkin Park titled […]

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Insane

UK police raiding suspected cannabis farm find illegal bitcoin mining operation instead

When the police went to raid a suspected cannabis farm a massive bitcoin mine was found under operation in the West Midlands, United Kingdom. Police officials executed a search warrant in an industrial unit in Birmingham after receiving intelligence that the unit was being used as a marijuana farm. The department issued a press release […]

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Insane

Woman ‘mistakenly’ purchased drugs worth $663,500 using bitcoins on dark web

Cryptocurrency is very popular now and is used for all kinds of online transactions. Talking about on transaction, a woman disclosed how she had by mistake spent her Bitcoin fortune on the dark web to purchase drugs. Jia Tolentino a staff writer for New Yorker and a published author, revealed her own Bitcoin horror story […]

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Business

Crypto-mining, crypto-trading halt operations in China amidst increased scrutiny

The catalyst for the crypto slump on Sunday were cryptocurrency “miners” – who mint cryptocurrencies by using powerful computers to solve complex maths puzzles – after firms halted Chinese operations in the face of increasing scrutiny from authorities. The attention on miners in China – who account for some 70% of supply – is the […]

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Business World

Cryptocurrencies fall over the weekend; Bitcoin approaches $30k

Bitcoin prices fell as much as 13% on Sunday, further extending losses for the week. Bitcoin which accounts of nearly half the cryptocurrency market fell to the lowest of $31,179 far off its all time high above 64,000 just over a month ago. By Sunday evening, Bitcoin recouped some of its losses. It was trading […]

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Business

Elon Musk hints at Tesla holding onto Bitcoin despite crash 💎

The market value of Tesla Inc’s bitcoin holdings fell by half to $1.26 billion, close to the electric car maker’s purchase cost, as the cryptocurrency’s value plunged following a crackdown by the Chinese government. On Wednesday Chief Executive Elon Musk signalled that the company still is not selling, tweeting symbols for diamond hands to his […]

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Business World

Cryptocurrency market takes deep plunge, nearly $1 trillion wiped off

The crypto markets took a deep dive on Wednesday that at one point it nearly wiped off $1 trillion market capitalization. Bitcoin and ether tumbled to a low of 3.5 months. They are on track to post their largest one-day loss since March last year. Bitcoin, the biggest and best-known cryptocurrency, had already been under […]

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Social Media Reactions

Elon Musk hints at Tesla ‘dumping’ Bitcoin holding worth $1.5 billion

Billionaire Elon Musk has hinted that Tesla could have dumped the remainder of its Bitcoin holdings in a cryptic tweet posted on Sunday. Tesla bought about $1.5 billion worth of Bitcoin back in February, around the time it announced it would accept the cryptocurrency as payment for its products. However, it was revealed earlier this […]