Cryptocurrency analysts say at least $13.7m (£10.2m) has so far been donated to the Ukrainian war effort through anonymous Bitcoin donations.
Researchers at Elliptic, a blockchain analysis company, say the Ukrainian government, NGOs and volunteer groups have raised the money by advertising their Bitcoin wallet addresses online.
More than 4,000 donations have been made so far, with one unknown donor gifting Bitcoin worth $3m to an NGO.
The median donation is $95.
Cryptocurrencies around the world are getting pummeled today. A quick glance at CoinDesk’s tracker will show you a wall of red. At the time of this writing, most major cryptocurrencies are down at least 5% or more, including Bitcoin, which is down nearly 7% to $40,443; Ether is down almost 6% to just over $2,900; and Dogecoin and Shiba Inc are down 4.5% and 6.5%, respectively.
So what’s causing this downturn? Unlike recent selloffs, which were largely driven by the threat of increased regulation by the likes of China or the United States, today’s selloff appears to be purely geopolitical. With the threat of Russia going to war over Ukraine, and Russian President Putin announcing he’ll oversee nuclear military drills this weekend, investors are ditching volatile stocks and digital assets in favor of more stable assets like gold.
Bitcoin prices have pulled back lately — but Goldman Sachs still sees strong gains ahead in the coming years.
The world’s most valuable cryptocurrency has fallen to about $46,000 after surging to a record high near $69,000 in November. Yet Goldman Sachs (GS) said in a report this week that bitcoin (XBT) could more than double, to a little over $100,000 per coin, within the next five years.
“We think that bitcoin’s market share will most likely rise over time as a byproduct of broader adoption of digital assets,” Zach Pandl, the co-head of global foreign exchange, rates and emerging market strategy for Goldman Sachs, said in the report.
Data analytics firm MicroStrategy, which owns more bitcoin than any other corporation in the world, announced another big investment in the world’s largest cryptocurrency on Tuesday morning, doubling down on its staggering commitment as the nascent market recovers from a $1 trillion crash this year.
Bitcoin and cryptocurrency prices have moved sharply lower after charging into the week yesterday (subscribe now to Forbes’ CryptoAsset & Blockchain Advisor and discover crypto blockbusters poised for 1,000% gains).
The bitcoin price, which briefly touched $40,000 per bitcoin yesterday, has dropped more than 7%, falling back to $36,000 after retail giant Amazon AMZN -2% denied reports it was poised to add bitcoin and cryptocurrency support.
Yesterday we talked about the prospects of a digital dollar coming down the pike.
It seems clear that global governments will not allow non-sovereign forms of money to continue to proliferate.
The Senate Banking committee’s hearing on the digital dollar two weeks ago was not only a public exploration and introduction to the concept a central bank-backed digital currency, the hearing was also used as a platform to publicly assassinate the viability of the private (“bogus” in the words of Senator Warren) cryptocurrency market (bitcoin, stablecoins, etc.).
The appetite for crypto currencies is not losing its breath. SafeMoon wants to join the rank of the major virtual devices, by creating a safer version. Its plan is to charge high fees per transaction, in order to limit them. Will it work? Here is what the situation looks like, currently.
A Market High on Crypto Currencies
If you are wondering how hungry the market is for crypto currencies, look no further than the example of SafeMoon. There are already 2 million traders that have bought some of this virtual device, that is currently worth $.000007. But don’t let that fool you. It is already 202% higher, in just one month. That is greatly due to the fact that cryptocurrencies, as a whole, have been gaining through the last months. If you want to get into the action, with SafeMoon or others like Bitcoin and Ethereum, find the best trading platform online, today.
BTC mining is a crucial part of the Bitcoin ecosystem and the blockchain network. Without Bitcoin mining, it would be impossible to create a decentralized peer-to-peer-based blockchain system that works without the influence of third-party financial institutions.
Bitcoin mining is still as important as it was in the beginning, but it is very much competitive, and Bitcoin mining is considered an industry today. If you want to get into Bitcoin mining, or you’re new to the crypto world, we provide top facts about Bitcoin mining that will be useful to you.
Some investors are saying bye-bye to bitcoin, which is causing the cryptocurrency’s price to crash.
Is the COVID-19 pandemic to blame?
Unlike for most things these days, the answer is no.
Fingers instead are pointing to 1600 Pennsylvania Avenue, because of reports that President Joe Biden is planning to raise the tax on capital gains.
Elon Musk took to Twitter this morning to announce that customers will soon be able to buy a new Tesla using bitcoin instead of fiat currency.
The move to accepting bitcoins as payment comes roughly a month after Tesla announced it bought $1.5 billion worth of bitcoin and that it had plans to enable bitcoin as a payment option in the future.
In a further tweet, Musk clarified that Tesla would not convert the bitcoin payments into fiat cash, and would instead hold onto the bitcoin as bitcoin.
Dispatches From The Front 