Tag: Adoption

Colin McRae’s long-lost rally car reportedly sold for Bitcoin at auction
Bitcoin

Colin McRae’s long-lost rally car reportedly sold for Bitcoin at auction

Bitcoin (BTC) adoption is growing in the auction world, where privacy is a key concern. An anonymous buyer purchased a legendary rally car driven by iconic rally figures Colin McRae and Carlos Sainz, which was thought to be long-lost in an auction for half a million Australian dollars ($360,000) and reportedly used Bitcoin as a payment method.Australian auction house Lloyds Auctions announced that the 1994 Subaru Prodrive 555 Group A World Rally Championship Car had been found in a barn, covered in dust, in the Victoria state of Australia. The car was originally thought to be valued at 15,000–20,000 Australian dollars ($10,900–$14,500). But a six-month investigation from the International Classic Automobile Authentication and Rating System (ICAARS) revealed that “it may well be worth more ...
Beyond Bitcoin: The future of digital assets is bigger than the first crypto
Altcoins, Bitcoin

Beyond Bitcoin: The future of digital assets is bigger than the first crypto

While change is guaranteed, the scale and scope of that change are not. For the financial industry, blockchain — the technology that undergirds Bitcoin (BTC), Ether (ETH), nonfungible tokens (NFTs) and other digital assets — has brought us to the crossroads. What will the future of money look like? We have been operating on the frontline of crypto for the past 10 years, protecting large and small investors alike while allowing them to invest in this exciting new frontier of finance. The experience we’ve gained here helps us to see what’s coming down the road.In this historical period, a myriad of outcomes is possible but one thing is for certain: The efficacy and innovation of the technology will influence well beyond traditional financial sectors.The mature digital assets industry is...
Adapt or die: Payments giants partner with crypto firms to ensure security
Analysis

Adapt or die: Payments giants partner with crypto firms to ensure security

Institutional interest for digital assets continues to grow rapidly, demonstrating that cryptocurrencies, stablecoins and nonfungible tokens (NFT) are here to stay. At the same time, traditional financial institutions are beginning to understand the dire need to properly support digital assets. For example, although payments giants such as Mastercard and Visa currently offer crypto-enabled credit and debit cards, these companies are also forming partnerships with crypto organizations to enable better security and trust for consumers transacting with digital currencies. Shedding light on the matter, Ajay Bhalla, president of cyber and intelligence at Mastercard, told Cointelegraph that Mastercard’s customers and other partners are seeking solutions to ensure that the crypto economy is ...
El Salvador acts on Bitcoin price dip and buys 150 BTC
Bitcoin

El Salvador acts on Bitcoin price dip and buys 150 BTC

Despite warnings from global agencies regarding its adoption of Bitcoin (BTC), El Salvador’s government continues to seize market opportunities. As the Bitcoin price fell below $46,000 on Monday morning, Salvadoran President Nayib Bukele announced on Twitter that the country has “bought the dip.” With 150 new coins, the Central American government now holds 700 BTC, worth close to $32 million at the time of writing.In an obvious nod to the “not financial advice” disclaimers shown around the crypto ecosystem, Bukele shared his “presidential advice” by reminding, “They can never beat you if you buy the dips.”Presidential advice — Nayib Bukele (@nayibbukele) September 20, 2021As reported by Cointelegraph, El Salvador bought another dip on the day BTC became legal tender in the country, w...
PayPal completes crypto trading rollout for UK customers
Bitcoin

PayPal completes crypto trading rollout for UK customers

PayPal officially announced on Friday that all eligible customers in the United Kingdom can now buy, hold and sell cryptocurrencies using their PayPal accounts.Customers can trade four major cryptocurrencies: Bitcoin (BTC), Ether (ETH), Litecoin (LTC) and Bitcoin Cash (BCH). As announced previously, crypto trading will only be available to PayPal customers with verified identities.PayPal announced plans to move into the British cryptocurrency market in late August, immediately proceeding with a partial rollout of crypto trading services. The move marks the first expansion of PayPal’s cryptocurrency services beyond the United States.Speaking to Cointelegraph, a PayPal spokesperson said, “PayPal gradually rolled out its new crypto service to its UK customers. That process is complete,“ ...
EU set to invest $177B in blockchain and other novel technologies
Blockchain News

EU set to invest $177B in blockchain and other novel technologies

The European Union is reportedly looking to bolster technological development in the region with a planned $177 billion investment war chest.According to Bloomberg, EU officials plan to fund direct investments in areas like blockchain, data infrastructure, 5G, and quantum computing, among others.The planned $177 billion investment fund is about 20% of the 750 billion euros ($887 billion) stimulus package agreed upon by EU leaders back in July 2020 to kickstart economic recovery amid the ongoing COVID-19 pandemic.Speaking on Wednesday, Ursula von der Leyen, President of the European Commission, stressed the importance of investing in digital technology for the entire region.Indeed, part of the investment fund will go towards the manufacture of low-power processors as EU officials seek to pr...
The ongoing NFT boom: Can supply of nonfungibles outweigh demand?
Blockchain News

The ongoing NFT boom: Can supply of nonfungibles outweigh demand?

Nonfungible tokens, or NFTs, have taken the cryptocurrency sector by storm in 2021. The growing interest in these digital collectibles resulted in record-breaking trading volumes during the month of August, with individual NFT sales exceeding more than $1 million dollars on a regular basis. Yet with so many NFTs currently on the market, it can be difficult to determine which one-of-a-kind collectibles are worth the high prices. It’s also important to point out that although NFTs are going mainstream, they are directly tied to the cryptocurrency ecosystem and, therefore, are prone to market volatility.For instance, data shows that the total volume of NFTs traded on leading marketplaces declined at the beginning of September, around the same time Bitcoin (BTC) droppe...
Zip eyes millennials with planned launch of crypto trading in the US next year
Bitcoin

Zip eyes millennials with planned launch of crypto trading in the US next year

Australian "buy now, pay later" (BNPL) firm Zip​​, the smaller rival to Square’s recently-acquired Afterpay, is hitching its future growth prospects to the cryptocurrency industry.Zip USA CEO Brad Lindenberg told attendees at the company's first retail investor day that “The innovation around crypto feels like the internet did in 1995.” The company’s interest in crypto has been hinted at previously and has now materialized into a concrete plan: A project that integrates crypto trading functionality for United States users and enables its merchants to accept Bitcoin (BTC) payments.Zip's internal research, which found that BNPL users are 67% more likely to trade crypto than non-users, has bolstered its confidence in the move. Lindenberg, moreover, pitched crypto integration as a natural...
Indian university joins Hedera decentralized governance council
Blockchain News, Education

Indian university joins Hedera decentralized governance council

The Indian Institute of Technology Madras (IITM) has become a member of the Hedera Hashgraph council for decentralized governance.IITM is one of the top institutes for technical education in India, which falls under the direct jurisdiction of India’s Ministry of Education. As a member of the Hedera Governing Council, IITM has become one of the 39 global organizations that run initial network nodes for governing the Hedera public ledger built on distributed ledger technology (DLT).In addition to advancing DLTs capabilities in education and research, IITM plans to test use cases around public blockchains for payments via Hedera Consensus Service and the Hedera Token Service. Professor Prabhu Rajagopal from IITM’s Center for Nondestructive Evaluation spoke about helping other council members ...
Across the seven seas: Retail, institutional investors keen on Bitcoin
Bitcoin

Across the seven seas: Retail, institutional investors keen on Bitcoin

Institutions have been at the forefront of the crypto bull run seen since Q4 2020, but now retail investors have been taking the center stage as well. Bitcoin (BTC) is getting more popular all around the world and it officially became a legal tender in El Salvador on Sept. 7, making it a landmark event for retail and sovereign adoption of the asset.However, it turned out to be a chaotic event for the premier cryptocurrency token as the country celebrated “Bitcoin Day.” Soon after the day began, BTC’s price suffered a flash crash of over $8,000 to bottom out at $42,900. Even though this flash crash coincided with this major adoption event for the token, its significance for retail consumers and investors far outweighs the short-term price impact seen in the token’s price.Interesting develop...