BitcoinBites: 5 BTC stories you should know – February 16th, 2022
Bitcoin hits $44K after Canada emergency powers accompany 6% BTC price increase
A classic relative strength index (RSI) breakout, this time on the lower four-hour timeframe, preceded the move, which put the pair a full 6% higher versus Monday’s lows.
“I do think these are the first signs of a trend break,” popular Twitter account Phoenix commented in a fresh post on the day.
It added that reaching and holding $45,500 would be “absolutely key” for bulls, this marking last week’s high.
The uptick appeared to have an external trigger. As part of the ongoing events in Canada’s Freedom Convoy protests, the government announced that it would expand Anti-Money Laundering surveillance to cover crypto transactions.
Canadian Bitcoin ETFs hold more than 62,000 BTC
North America is dominating today’s crypto market as Canadian Bitcoin ETFs are gaining popularity among investors. According to Glassnode’s latest data, three Bitcoin ETFs trading in Canada collectively hold around 62,628 BTC.
Purpose ETF, the largest Bitcoin ETF in Canada, has nearly 30,000 BTC under management. The number represents approximately 47% of the overall holdings of Canadian BTC ETFs. Additionally, Canada is one of the fastest-growing crypto countries in the world.
Banning Bitcoin is like banning the internet, says Russia’s Finance Minister
Russia is one of the countries where the regulatory status of Bitcoin and the overall cryptocurrency market remains dubious at best. However, it appears that Financial Minister Anton Siluanov doesn’t think banning them is an option that’s on the table.
According to a recent release by Forbes, Anton Siluanov – Russia’s Financial Ministry, believes that banning cryptocurrencies is like banning the internet.
The Central Bank wants to take and ban crypto-assets, cryptocurrencies, arguing that this creates risks, primarily for citizens, can “infect” financial institutions, banks, and create an opaque settlement market. This is the same as banning the Internet, which is impossible. – The minister argued.
US state Colorado will accept Bitcoin for tax payments this summer
Colorado Governor Jared Schutz Polis has just announced that his state will begin accepting Bitcoin for tax payments starting this summer.
Polis in an interview on CNBC reveals plans for the US State to advance further in more untried payment models and vision for a potential state token.
Governor Jared Polis has been a long-time supporter of crypto and as a congressman, he was the first US politician to accept campaign donations in Bitcoin.
Canadian firms buying up Bitcoin in 2022
2022 is shaping up to be a big year for Bitcoin (CRYPTO:BTC) in Canada. Between asset managers like Purpose Investments, corporations like KPMG, and miners like Taal Distributed Information Technologies (CSE:TAAL), there are many Canadian players making heavy investments in crypto this year.
Canada was an early innovator in institutional adoption of cryptocurrency. In 2021, the Ontario Securities Exchange approved the Purpose Bitcoin ETF (TSX:BTCC.B), the first ETF of its kind for individual investors. Since then, Purpose has added more crypto products, and other Canadian firms have added Bitcoin to their balance sheets. In this article, I will explore the latest developments on crypto in Canada in 2022 from corporate buys to an exciting new mining facility.
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