Jack Dorsey's departure from Twitter gives him more time to focus on his passion for Bitcoin
Jack Dorsey stepped down as CEO of Twitter on Monday morning, citing his belief that the company was “ready to move on from its founders.” That means he’ll have more time to spend on Square, the payments company he also founded and leads, and on his budding fascination with cryptocurrency.
Dorsey is a long-time fan of bitcoin, attributing his “passion” for the world’s biggest cryptocurrency to its function as “a foundational internet technology that is not controlled or influenced by any single individual or entity.”
“If I were not at Square or Twitter, I’d be working on bitcoin,” Dorsey told a crowd at Bitcoin 2021, a mega conference that drew tens of thousands to Miami in June.
Bitcoin's biggest corporate investor buys another $414 Million
MicroStrategy, the data analytics firm helmed by billionaire cryptocurrency bull Michael Saylor, announced another big investment in bitcoin on Monday morning, doubling down on its staggering commitment to the world's largest cryptocurrency as the nascent market reels from a nearly 15% correction this month—and the threat of a new coronavirus variant.
Bull market recovery: No. of Bitcoin addresses hit ATH
Glassnode reveals number of BTC addressees smashed all ATHs
It’s been revealed that despite Bitcoin’s price correction this month, the number of addresses with a BTC balance has surged to an all-time high, according to the crypto insights firm Glassnode.
The number of Bitcoin addresses with a non-zero balance hit a new all-time high last week, Glassnode said.
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MasterCard next after Bitcoin surpasses PayPal in value transferred in dollars
According to Blockdata, the Bitcoin network handled 62% more value in dollars than PayPal this year. Also, the organization assessed Mastercard and Visa network volume. Although Bitcoin presently trails behind credit card companies, the paper investigated ways for it to catch up.
This year, Bitcoin has transacted an estimated $489 billion every quarter, compared to $302 billion for PayPal. The top two processors, Mastercard and Visa, still process $1.8 trillion and $3.2 trillion annually.
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Bitcoin transaction fees are down by over 50% this year
According to YCharts data, the average transaction fee of Bitcoin (BTC) has dropped from $4.40 to $1.80 this year, a decrease of 57.97%. This rise may be attributed to a variety of factors.
One explanation is that the fast expansion of the Bitcoin Lightning Network, in which transactions are off the blockchain, may have been a catalyst.
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