The price of Bitcoin recovers as the market follows along with it. Bitcoin has once again crossed above $ 50,000, possibly marking the end of the recent price pullback and a resurgence of the broader uptrend.
The top cryptocurrency by market value managed to trade close to $ 51,600. It is still below the all-time high of $ 58,000. Although it has risen from a low of $ 43,000 reached last week.
At the time of writing, the price of Bitcoin stands at $ 51,430 according to our internal tool, Crypto Online. Registering an increasing variation of 5.5% in the last 24 hours.
Besides Bitcoin, major altcoins are also on the rise
Hand in hand with the increase in the price of Bitcoin we also have a good part of the main altcoins. Which have been on the rise, capitalizing on much more modest gains than those seen yesterday.
In light of the above we have the cases of Ethereum (ETH), Polkadot (DOT), Litecoin (LTC), Chainlink (LINK), NEM (XEM), AAVE, Crypto.com (CRO), EOS and VeChain (VET ), which capitalize earnings above 3% at the time of publication.
Netflix Could Be Next Fortune 100 Company To Buy Bitcoin, Says Tim Draper
Netflix may be the next Fortune 100 company to buy Bitcoin and Amazon will have to accept it, says billionaire Tim Draper.
In an appearance on the Unstoppable Podcast on February 28, Draper predicted that, of all the possible candidates, Netflix is his choice to put BTC on his balance sheet.
«I think Reed Hastings is a very innovative guy and has great creative thinking. And I think it still controls the reins of Netflix, so I think it could be the next big one to fall to Bitcoin.».
The prediction comes as telltale signs of institutional buying continue to appear at current prices. With $ 48,000 that recorded multiple major transactions on Coinbase Pro over the past week. Classic buyers MicroStrategy and Square joined their positions.
Always optimistic, Draper also considered that Amazon would add a direct payment option with Bitcoin in the future.
«Amazon will likely start accepting Bitcoin very soon». And he noted that consumers have been able to purchase products indirectly using cryptocurrencies for many years.
Additionally, Amazon added the availability of Ethereum to its blockchain network this week.
Bitfarms plans to acquire 48,000 new mining equipment in 2022, despite chip shortage
One of the world’s largest publicly traded Bitcoin mining companies, Bitfarms, has committed to buying 48,000 new miners in the next two years.
The Canadian mining company has acquired equipment from Chinese supplier MicroBT in an attempt to increase its hashing capacity by another 5 EH (exahashes), according to reports. Bitfarms was founded in 2017 and currently has a capacity of 1EH. Its goal is to increase by 200% by the end of 2021.
Hashing capacity is the amount of pure computing horsepower that can be devoted to mining Bitcoin or cryptocurrencies.
The company expects the initial hardware shipment to take place in January 2022 or earlier, and the final mining equipment to arrive in December 2022. This will increase its global hashing capacity over the next two years. Emiliano Grodzki, CEO of Bitfarms, stated that it is increasingly difficult to get mining equipment:
“The supply of miners will be one of the biggest challenges for the foreseeable future due to the global shortage of wafers (wafers) used to create semiconductor chips, which is a vital component in mining rigs”.
Crypto Wallet Exodus Seeks SEC Permission to Tokenize Shares, Targets $ 75 Million Increase
Cryptocurrency wallet Exodus has requested permission from the US Securities and Exchange Commission (SEC) to conduct a public offering of tokenized shares in the company.
Exodus announced on Wednesday that it has filed its offering circular with the regulator and, once approved, will carry out a Regulation A Level 2 offering (often called Reg A +). Through this new equity token linked to the company’s shares, Exodus expects to raise about $ 75 million, taking advantage of the one million active users of its wallet.
The filing was made last Friday and the SEC will take at least 21 days to give it the seal of approval, Exodus said. If approved, the wallet firm joins only a few in the cryptocurrency ranks to go the regulated route, the main one being Blockstack and its $ 28 million surge in September 2019.