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Billion Dollar Public Company Microstrategy Moves $250 Million Into BTC, Says Bitcoin ‘Superior to Cash’

Nasdaq-listed company Microstrategy Inc. is bullish on bitcoin, saying that it is a “dependable store of value” that is “superior to cash.” The billion-dollar company has purchased $250 million in bitcoin, adopting the cryptocurrency as its primary treasury reserve. Public Company Now Holds Bitcoin as Cash Reserve Microstrategy Inc. (NASDAQ: MSTR), which describes itself as “the largest independent publicly-traded business intelligence company,” rocked the bitcoin community on Tuesday when it announced the adoption of bitcoin as its primary treasury reserve. The company’s market cap is currently about $1.33 billion. Microstrategy…

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A New DeFi Exchange Says It Has Solved An Industry-Wide Problem

This exchange aggregator thinks it can do better than the exchanges it aggregates. Decentralized exchange aggregator 1inch.exchange has launched its own DEX. As part of their efforts, they promised to fix two major issues with this type of exchange — front-running and impermanent loss. Announced on Tuesday, the Mooniswap exchange is an automated money market, or AMM, similar to Uniswap or Balancer. It has adopted a distinctly different approach from Bancor V2, which uses oracles to stay updated on market prices. Impermanent loss occurs when an asset’s price on an…

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Bitcoin Price Rises in Tandem With Central Banks’ Balance Sheets — Data

Charts show a pleasing correlation between central bank Coronavirus fallout and Bitcoin returns, with anticipation building around an investor influx. Bitcoin (BTC) is becoming investors’ favored escape from fiat misery and punitive economic policy — and central banks are only helping. In a tweet on Aug. 11, popular commentator Holger Zschaepitz described Bitcoin as the “new darling” for those seeking shelter from hurdles such as negative interest rates. Bitcoin primed to become “fastest horse” The past few months have seen the United States Federal Reserve, in particular, intervene in traditional…

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Adam Back: Bitcoin is Enough, Satoshi Should Stay Out

Adam Back has some interesting (if somewhat odd) views on altcoins and the return of Satoshi Nakamoto. In a Cointelegraph interview, Adam Back provided additional clarity on his perceived Bitcoin (BTC) maximalism. Blockstream’s CEO believes that Bitcoin is enough and there is no need for a multitude of derivative projects. Back said, “I think it’s like TCP/IP the internet exists. We don’t need 5800 TCP/IP copies trying to monetize and profiteer off pumpanomics or such. It detracts from value (I gather there are about 5,800 altcoins as of today)”. He…

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Sheep Farmer’s Alleged Baby Food-Based Bitcoin Extortion Attempt Thwarted

File this one in the “stranger than fiction” category. A resident from Lincolnshire, United Kingdom, was accused by local authorities of attempting to blackmail the supermarket chain, Tesco. According to The Yorkshire Post, Nigel Wright, a sheep farmer, allegedly wrote Tesco a series of letters claiming that he had planted contaminated baby food in their supermarket stores. He then allegedly offered to reveal the locations of the contaminated baby food in exchange for roughly $1.8 million in BTC. Wright is believed to have been a part of a group of…

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With Value Approach, Off The Chain Capital Is Changing The Bitcoin Investment Narrative

When viewed from a traditional investing lens, bitcoin may seem like a risky bet. The technology is still relatively new, the price is notoriously volatile and it’s not uncommon to hear investors caution newcomers not to invest more than they can afford to lose in BTC. But the performance of Off The Chain Capital, a digital currency investment firm that focuses on value investing in bitcoin, tells a different story. As one of the best-performing funds in the space, it has shown that reliable performance and BTC can go hand…

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World’s Biggest Business Intelligence Firm Buys 21K Bitcoin for $250M

MicroStrategy confirms it has made Bitcoin its primary treasury reserve asset as institutional uptake takes a dramatic bullish step forward. The world’s largest publicly traded business intelligence company MicroStrategy (Nasdaq: MSTR) has formally adopted Bitcoin (BTC) as its primary reserve asset. In a press release issued on Aug. 11, MicroStrategy confirmed it had purchased 21,454 BTC for $250 million. MicroStrategy: Move “reflects our belief in Bitcoin” Michael J. Saylor, CEO of MicroStrategy, commented in the press release: “This investment reflects our belief that Bitcoin, as the world’s most widely-adopted cryptocurrency,…

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Report: Regulators Reject CZ’s Application to Become Shareholder in Troubled Bank

Alleged attempts to bring Binance CEO CZ on as anchor shareholder in a troubled Liechtenstein bank have reportedly been blocked by regulators. Liechtenstein’s Financial Market Authority (FMA) has reportedly pulled the plug on an alleged application to bring Binance CEO Changpeng Zhao on as a major shareholder in a distressed domestic bank. As reported by Swiss financial news outlet Inside Paradeplatz on Aug. 10, the FMA rejected the purported application and also declined to approve an extension for further expert opinion that could intercede to save the rumored deal. In…

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Building on Taproot: Payment Pools Could Be Bitcoin’s Next Layer Two Protocol

This article is about a technological concept based on the proposed Taproot protocol upgrade. If you’re not yet familiar with the basics of how Taproot works, it’s recommended that you first read this explainer. Taproot, a potential upgrade to the Bitcoin protocol first proposed by Bitcoin Core contributor Gregory Maxwell, is in its late stages of development. The technology consists of a clever combination of crypto-tricks that would let users hide complex smart contracts inside regular-looking transactions — the complexity is only ever revealed if parties to a contract are…

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Tezos XTZ Follows Chainlink to Hit New High — But Is $6 Now Realistic?

The price of Tezos is breaking new highs as targets of $6 are beginning to appear on the XTZ charts. As Chainlink (LINK) reaches a new all-time high after all-time high, it would be expected to see a similar move on Tezos (XTZ). This is because these two coins have been moving in tandem in recent years and have been one of the few resilient digital tokens despite the cryptocurrency bear market during the period. Crypto market daily performance. Source: Coin360 Tezos did indeed show strength as XTZ rallied from…

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