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Bitcoin

Bitcoin is a new electronic payment system that removes the need for third party financial institutions. It speeds up transactions while reducing costs and minimizing the potential for fraud. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.

Bitcoin’s concept was first introduced in 2008 when a person going by the pseudonym Satoshi Nakamoto shared a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” In January 2009, the Bitcoin blockchain was launched. 

A new electronic payment system called Bitcoin removes the need for third-party financial institutions. It speeds up transactions while reducing costs and fraud-risk. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.   

Bitcoin has a finite supply of 21 million, which is expected to be reached by the year 2140. Currently, 18.8 million are circulating in the market. Note that Bitcoin represents the concept of the network, while bitcoin (lower-case ‘b’) represents the currency.

Bitcoin is one of the most well-known cryptos as it was the first decentralized currency. 

Currently, BTC’s dominance is above 40%. Bitcoin Dominance is a measure of how much of the total market cap of crypto is made up of Bitcoin. Bitcoin’s influence in the crypto ecosystem could be vulnerable to competition as alternative coins grow in popularity and utility.

Bitcoin's price has now corrected approximately 6% since the all-time high break on Nov. 13.

Bitcoin ETFs Witness Third Highest Outflow Since Launch, the Other Two Times Foreshadowed Price Bottoms

Aave

The potential deployment on a Bitcoin layer-2 by the largest DeFi lending protocol highlights the appetite for harnessing the original blockchain for purposes that are commonplace elsewhere in the crypto ecosystem.

Aave Gauges Community Interest for Expansion to Bitcoin Layer 2 Spiderchain

Investment firm Bernstein has urged India to recognize bitcoin as a strategic reserve asset, highlighting its potential as “digital gold” amid global financial risks like inflation, U.S. debt, and geopolitical instability.

India Urged to Embrace Bitcoin as Strategic Reserve Asset Amid Global Unrest

U.S. spot bitcoin ETFs recorded $400.67 million in outflows on Thursday, ending a six-day streak of positive flows.

Spot bitcoin ETFs see $400 million in outflows, ending six-day inflow streak

The recent surge in Bitcoin (BTC) prices could well last into 2025 and see it reach highs of $180,000, said Matthew Sigel, head of digital assets research at VanEck.

Analyst at VanEck Says Bitcoin Might Reach $180,000 in Current Rally

The Royal Government of Bhutan has sold 367 Bitcoin (BTC), worth about $33.5 million through major cryptocurrency exchange Binance.

Bhutan Cashes out $33.5B in Bitcoin, Still Holds $1.11B in BTC

In a unique perspective, a cryptocurrency analyst equated Bitcoin (CRYPTO: BTC) to gunpowder, arguing that sooner or later sovereign nations would be compelled to adopt the leading cryptocurrency. What Happened: Matt Huang, CEO of cryptocurrency-focused investment firm Paradigm, penned a blog post Thursday, highlighting Bitcoin's growing prominence.

Bitcoin Is Like Gunpowder And That Is Why Sovereign States Can't Refuse Its Adoption, Says Crypto Analyst

Galaxy Digital CEO Mike Novogratz is forecasting the potential price trajectory of Bitcoin (BTC) if the incoming administration of President-elect Donald Trump adopts the crypto king as a strategic reserve asset.

Bitcoin Could Surge to $500,000 if US Adopts BTC As Reserve Asset, Says Billionaire Mike Novogratz – Here's Why

Shares in Trump media experienced a similar dynamic before the recent price slide.

Is Bitcoin on Shaky Ground? Market Signals Reflect Patterns That Foretold the Recent Slide in Trump Media Shares

A guide beyond the hype that helps you avoid common mistakes and make informed decisions when entering the bitcoin market for the first time.

What You Need To Know Before Buying Your First Bitcoin

On Nov. 14, 2024, a mysterious mega whale, tracked by our newsdesk since 2020, splashed back onto the scene by shifting an impressive 40 block rewards from 2010—a total of 2,000 BTC.

Bitcoin's Phantom Whale From 2010 Resurfaces With a 2,000 BTC Transfer

DigitalX's Bitcoin fund, which is separate to its ETF on the ASX has posted a 99% yearly gain, outpacing its rivals.

Australia's DigitalX Slashes Costs, Reports 99% Annual Gain in Bitcoin Fund

A Pennsylvania lawmaker has introduced a bill allowing state funds to invest in bitcoin as a hedge against inflation, aiming to strengthen financial stability.

US State Introduces Bill to Establish Bitcoin Reserves in Treasury Funds

“We believe that the underlying strength in BTC represents a systematic shift in the market in anticipation of Trump's return to office,” QCP Capital traders said in a Friday broadcast.

XRP Jumps 17% Outperforms Rest of the Market as Rally Cools; Trader Thinks $120K Bitcoin Target Still in Play

Galaxy Digital's CEO predicts bitcoin could soar to $500,000 if Trump follows through with plans for a U.S. strategic bitcoin reserve, redefining global crypto policy. $500,000 Bitcoin? Bold Predictions as US Considers Strategic Crypto Reserve Michael Novogratz, CEO of Galaxy Digital, has predicted that bitcoin's value could surge to $500,000 if the U.S.

$500K Bitcoin: Novogratz's Take on US BTC Reserve Plan

The Bitball league will let players earn in Bitcoin, aiming to cut out middlemen and create lasting wealth for athletes, Okung told Decrypt.

Russell Okung's New Football League Wants Players to be Paid in Bitcoin

Skybridge Capital's founder predicts bitcoin could reach $150,000 with eased regulations, noting that the Trump administration's approach could help depoliticize crypto policy. Can Depoliticized US Policy Finally Push Bitcoin to $150,000? Skybridge Capital founder Anthony Scaramucci shared insights into potential U.S. policy changes affecting bitcoin and cryptocurrency in an interview with Saxo.

$150K Bitcoin: Scaramucci Sees Trump Depoliticizing Crypto, Fueling BTC's Next Surge

The DOJ has sentenced the Bitfinex hacker to prison for laundering 120,000 stolen bitcoins from the 2016 hack, using sophisticated methods to hide the theft. DOJ Secures Prison Sentence for Bitfinex Hacker The U.S.

Bitfinex Hacker Sentenced to Prison as DOJ Tracks 120,000 Stolen Bitcoin

A man whose 2016 hack of Bitfinex drained nearly 120,000 bitcoin from that cryptocurrency exchange was sentenced to five years in prison for a money laundering scheme that he and his wife pulled off to hide the swiped crypto.

Bitfinex hacker sentenced to five years in prison for bitcoin money laundering scheme

In 2016, Lichtenstein purportedly hacked into the crypto exchange Bitfinex and stole bitcoin worth over $10 billion today.

Bitfinex hacker Ilya Lichtenstein sentenced to five years in prison for attempting to launder 120,000 bitcoin

Michael Saylor says the US should and will build a reserve of bitcoin and explains why it is the greatest deal of the 21st century.

Strategic Bitcoin Reserve Has Precedent in Other Big U.S. Government Purchases: Michael Saylor

Matthew Sigel, head of digital assets research at Vaneck, projects a significant upward trajectory for bitcoin, setting a target price of $180,000. Bitcoin Could Reach $180,000 by Next Year, Says Vaneck's Sigel Sigel's outlook on bitcoin (BTC) remains bullish, fueled by what he identifies as indicators of a continued rally.

Vaneck's Matthew Sigel Sets Bitcoin Target at $180,000

The CEO of the largest crypto exchange in the US thinks the digital asset industry is entering a new phase. In a new interview on CNBC, Brian Armstrong says that Donald Trump's successful bid to return to the White House and the victory of pro-crypto legislators in the recent elections will be bullish for crypto.

Coinbase CEO Says Crypto at the Dawn of New Era, Offers ‘Big Reason' Why People Are Flocking to Bitcoin

Bitcoin's price movements following Trump's victory this year resembles its rally following the 2020 presidential election.

Bitcoin could see ‘repeated all-time highs' over the next two quarters, says VanEck crypto research lead

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

News for Bitcoin Crypto (BTC)