Coming every Sunday, Hodler’s 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 Weekend trap? Bitcoin hits $7,300 in attempt to finally break out At the start of the week, we knew a big move for Bitcoin was brewing — but it was unclear whether or not the world’s biggest cryptocurrency was heading to $6,000 or $8,000. After a scary slip below $6,666, we got our answer on …
Twitter CEO and Square founder Jack Dorsey has started a new fund called Start Small LLC, aimed at fighting COVID-19. He’s seeding the fund with $1 billion, roughly 28% of his wealth. He shared the news via Twitter: Source: Twitter The fund’s efforts will initially focus fighting the global pandemic currently dominating the news cycle, but will eventually switch to providing money for girl’s health, education and universal basic income (UBI) initiatives. Dorsey is really putting his money where his mouth is when it comes to taking action to improve the world: “I believe they represent the best long-term solutions …
Bitcoin (BTC) has in fact functioned very well as a store of value before the coronavirus crisis, raw data suggests. In a Twitter discussion on May 1, Travis Kling, head of crypto hedge fund Ikigai, produced fresh evidence that, despite volatility, Bitcoin has preserved its investors’ wealth. BTC protected hodlers from “catastrophic event” Since February, BTC/USD has delivered stable returns of 0.6%, Kling said, smoothing out any pain to “hodlers” sparked by one of the most unnerving financial implosions of recent history last month. “The price of #Bitcoin increased 0.60% from the end of February to the end of April …
Coming every Sunday, Hodler’s 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 Bitcoin price drops to $3,637, rebounds above $5,200 within minutes Whenever there’s a big crash on the stock market, traders on Wall Street are often pictured with their heads in their hands — surrounded by a sea of screens with red numbers. This week, it was crypto’s turn. Bitcoin prices had been relatively stable in …
Block, the pro-Bitcoin (BTC) umbrella company that hosts Cash App, Square and Afterpay, continues its growth in 2022. According to its Shareholder letter, in the first quarter of 2022, gross profits are “up 34% year over year.” In total, the group netted $1.29 billion in gross profits. However, operating costs were also up “$1.52 billion in the first quarter of 2022, up 70% year over year.” The group explains that the acquisition of Afterpay, a buy now pay later service, could explain the increasing costs. In total net Block’s revenues reached $3.96 billion from January to March 2022, down 22% …