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Square Buys $170 Million Worth of Bitcoin

February 23 2021

“Square bought $170 million worth of Bitcoin, the company revealed in its fiscal fourth quarter financial report on Tuesday. The company said it purchased approximately 3,318 bitcoins, expanding on its Oct. 2020 purchase of 4,709. Square said it represents about 5% of the company’s total assets as of the end of 2020.”
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Systems

Bitcoin Steams to New Record and Nears $1 Trillion Market Cap

February 19 2021

“Bitcoin hit yet another record high on Friday, and moved within sight of a market capitalisation of $1 trillion, blithely shrugging off analyst warnings that it is an “economic side show” and a poor hedge against a fall in stock prices. The world’s most popular cryptocurrency jumped 2.6% to an all-time high of $52,932, setting […]
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Systems

Bitcoin Trades Above $50,000 for First Time

February 16 2021

“Bitcoin topped $50,000 for the first time Tuesday, doubling in value in less than two months. The digital currency traded as high as $50,584.84, up about 5% for the day and more than 74% for the year, according to CoinDesk. The total market value of bitcoin in circulation rose to $940 billion. Bitcoin later receded […]
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Systems

Bitcoin to Come to America’s Oldest Bank, BNY Mellon

February 11 2021

“Bank of New York Mellon Corp. , the nation’s oldest bank, is making the leap into the market for cryptocurrencies. The custody bank said Thursday it will hold, transfer and issue bitcoin and other cryptocurrencies on behalf of its asset-management clients. In time, BNY Mellon will allow those digital assets to pass through the same […]
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Systems

Tesla Electrifies Bitcoin With $1.5 Billion Bet, Car Payments Pledge

February 8 2021

“Tesla Inc said on Monday it had invested around $1.5 billion in bitcoin and expected to begin accepting payment for its cars and other products with it in the near future, prompting a more than 10% jump in the electronic currency. Analysts said the move by one of the world’s best-known companies was liable to […]
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Systems

Klarna CEO Cautions Executives Promoting Bitcoin Investments

February 5 2021

“Klarna AB Chief Executive Officer Sebastian Siemiatkowski took a swipe at executives and others who publicly encourage people to buy Bitcoin, warning it was a major risk for consumers around the world. “Whatever you think about Bitcoins, what cannot continue is advertising this as a financial investment product with no protection,” the CEO of the […]
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Systems

Australia’s Central Bank Says Bitcoin ‘Not Really Money,’ No Risk to Financial Stability – CoinDesk

February 5 2021

“The Reserve Bank of Australia has delivered somewhat dismissive comments on bitcoin at a meeting of the House of Representatives Standing Committee on Economics. According to a report by the Australian Financial Review on Friday, the central bank’s assistant governor for financial systems, Michelle Bullock, said there’s “a lot of fuss over bitcoin.””
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Systems

Former Canadian Prime Minister Names Bitcoin As Possible Reserve Currency

January 19 2021

“Stephen Harper, who served as prime minister of Canada for nine years, says there may be a place for Bitcoin and central bank digital currencies as part of a basket of reserve currencies to replace the dollar. In an interview with investment service Cambridge House’s Jay Martin at the Vancouver Resource Investment Conference today, Harper […]