Mining Cryptocurrency Becoming Wildly Popular and Accessible for the General Public
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VANCOUVER, BC, April 21, 2021 /PRNewswire/ USA News Group - The act of mining cryptocurrencies, such as Bitcoin is truly going global, including a recent announcement that Bitcoin mining has come to the Arctic circle. The surge in interest in cryptocurrencies has driven all types of challenges and solutions in generation of the digital money, including a global chip shortage that s even hit China. Early adapters to Bitcoin are doing quite well, with those who would ve invested $100 into the cryptocurrency in 2009 would see their initial investment worth over $48 million today. Along the way, the impact of the rapid rise in mainstream acceptance of Bitcoin and other crypto has driven even more interest towards opportunities to mine the digital currencies, such as those from
Mining Cryptocurrency Becoming Wildly Popular and Accessible for the General Public
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The Biden administration stepped up to the plate on Monday and expressed its desire to create a crypto regulatory authority.
We donât have many details yet, but it appears clear that the administration is planning on introducing new pathways to getting the crypto lion under the whip. And it appears rumors related to this shift may have been at least partly responsible for the flash crash in Bitcoin over the weekend.
This caused investment vehicles in the space to stumble, including Grayscale Bitcoin Trust (OTCMKTS:GBTC), Square Inc (NYSE:SQ), and Overstock.com Inc (NASDAQ:OSTK).
However, fears related to a regulated reality for the crypto space may be extremely overdone. In fact, one can easily make the case that a regulated cryptocurrency space could actually accelerate mainstream uptake of Bitcoin as a true medium of exchange â people generally like things they can understand, and increased oversight can help make financial institutions and retailers more comfortable w
Change of Tact Has Led to an Increase in the Utilization of Cryptocurrency
- FinancialBuzz.com News Commentary
NEW YORK, April 16, 2021 /PRNewswire/ A major portion of the economy has transitioned to remote, and for most companies it is still unclear how long it will take until the economy returns to pre-pandemic norms. As a result, several sectors in the technology industry have grown in demand. For example, cloud computing, digital payments and in particular the cryptocurrency and blockchain segments are back at the center of attention this year. As a result of the recent crypto boom, investors have once again started to view the new digital currencies as potential long-term investments necessary in a properly diversified portfolio. For example, this week, Coinbase shares closed at USD 328.28 in their Nasdaq debut on Wednesday, at which point the company s market cap reached USD 85.8 Billion on a fully diluted basis. Coinbase provides financial infrastructure and technology for
The Coinbase direct listing is coming, and it’s expected to be a doozy.
The leading crypto exchange will begin trading on the Nasdaq next week, and one can imagine that the timing of this decision was an indication of how confident management was in the company’s Q1 results and guide for 2021 yesterday afternoon. The report serves as a fundamental checkpoint for the space as a whole.
And boy howdy: Ring the bell. Talk about a blowout report.
Coinbase released performance data yesterday afternoon showing historic bombshell results, with revenue climbing more than 800% year-over-year to an estimated $1.8 billion. Net income posted a sick climb to between $730-$800 million from $32 million a year earlier.
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