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BitcoinBites: 5 BTC stories you should know – April 27th, 2022

Apr 27, 2022
byNDAX Labs

World's first combined Bitcoin, gold exchange-traded product listed in Switzerland

The world's first exchange-traded product (ETP) that combined exposure to bitcoin (BTC) and gold has been listed on the Swiss SIX stock exchange.

  • The product was developed by ETP issuer 21Shares and crypto data provider ByteTree Asset Management.
  • The ByteTree Asset Management BOLD ETP will track a customized benchmark index comprising bitcoin and gold, which rebalances on a monthly basis according to the comparative volatility of the two assets. Whichever has been less volatile over the past 360 days will be given the higher weighting.
  • At launch, the weighting will be 18.5% bitcoin and 81.5% gold.

Read the full story on CoinDesk

Bitcoin slips toward $38K after rally fizzles

Bitcoin (BTC), after a price pop on Monday above the crucial psychological level of $40,000, is again flirting with a six-week low.

As of press time, the largest cryptocurrency by market capitalization was down 3.3% in the past 24 hours, trading at $38,210 – close to the lowest since mid-March. The bitcoin price climbed as high as $40,800 earlier Tuesday but dropped more than 5% in the past four hours.

Read the full story on CoinDesk

One of the poorest country in the world makes the loudest noise in joining El Salvador to declare bitcoin as legal tender.

“The adoption of bitcoin as an official currency represents a decisive step towards opening up new opportunities for our country,” said Faustin Archange, the President of the Central African Republic (CFA), upon signing the law.

Read the full story on Crypto New Media

CleanSpark borrows against Bitcoin mining rigs to get $35M for more mining rigs

Bitcoin miner CleanSpark has agreed to borrow up to $35 million from Trinity Capital to purchase more mining equipment.

The three-year financing agreement has been secured by 3,336 new S19j Pro Bitcoin mining rigs, according to a Securities and Exchange Commission filing submitted Friday. The company has 23,000 Bitcoin miners in operation, and expects to add 12,000 before the end of October.

The Las Vegas-based Bitcoin miner, which trades on Nasdaq under CLSK, immediately receives $20 million, and has until the end of the year to draw down on the remaining $15 million in increments of $500,000.

“As we mentioned in our Q1 earnings call, debt capital is currently the lowest cost of capital available to the company,” CFO Gary Vecchiarelli state in a statement.

Read the full story on Decrypt

Brazil's Senate approves 'Bitcoin law' to regulate cryptocurrencies

Brazil’s Senate has passed the country’s first bill governing cryptocurrencies in a plenary session, which will set the stage for the creation of a regulatory framework for the country’s crypto industry.

The bill must be approved by the Chamber of Deputies and then signed off by President Jair Bolsonaro to become law in the country. This is expected to occur by the end of 2022, according to experts who spoke with Cointelegraph Brasil.

Read the full story on Cointelegraph

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