BitcoinBites: 5 BTC stories you should know – January 19th, 2022
Bitcoin price consolidates near $42k USD amid global sell-off
Bitcoin (BTC) price moves lower in today’s session following the footstep of the overall crypto market. The global crypto market extends losses and downside momentum on Wednesday as the valuations of top Digi coins dip.
- Bitcoin (BTC) Price consolidates near $42K USD as the market remains indecisive.
- BTC follows the suit as the global crypto market dips on Wednesday.
- Uncertainty over global inflation and Omicron variant intimidating digital currencies.
At the time of writing, BTC is trading at $42,184.79, USD down 0.42% for the day. Further, total market capitalization falls below $800 billion USD with a 24-hour trading volume of $24,728,404 USD.
Intel plans Bitcoin mining chip reveal at upcoming conference
Intel – the world’s second-largest semiconductor chip manufacturer – appears to be planning a Bitcoin mining chip reveal. At this year’s ISSCC conference, the organization has a presentation scheduled under the “Highlighted Chip Releases” category to showcase a “Bonanza Mine” processor.
As reported by Tom’s Hardware, Intel describes the chip as an “ultra-low-voltage energy-efficient Bitcoin mining ASIC”.
An ASIC is an application-specific integrated circuit. Such machines are commonly used in the Bitcoin mining industry today in order to stay competitive. Unlike Ethereum, GPU processors are hardly optimal for the job.
Intel first displayed interest in entering the industry in 2018 after filing a patent for “energy-efficient high-performance Bitcoin mining”. In August, the company even took a relatively small stake in Coinbase.
More recently, the manufacturer’s GPU Chief Raja Koduri spoke with popular streamer Dr. Lupo, and revealed that the company was developing specialized Bitcoin mining hardware.
Bitcoin outperforms Nasdaq
Bitcoin has been performing better than Nasdaq for the past week in a first since quite some time according to our observation.
Nasdaq fell by 2.6% yesterday. Bitcoin dropped by only 1%. Bitcoin is up today by more than 1.5%. Nasdaq is set to gain just 0.67% according to futures despite the considerable sell off on Tuesday.
Over the past seven days, bitcoin has dropped by just 1.26% while Nasdaq has seen one of its worse week since 2008, down 4%.
Heavyweight champ to take 50% of his UFC 270 purse in Bitcoin
UFC heavyweight titleholder Francis Ngannou has announced he will take half of his UFC 270 prize purse in Bitcoin (BTC) via Cash App.
The French-Cameroonian mixed martial arts fighter will take on the undefeated Ciryl Gane on Sunday and is set to earn a guaranteed $750,000. In a tweet on Jan. 18, Ngannou noted in a video message:
“After doing a lot of research on Bitcoin, I really believe it is the future of money, man. Bitcoin is valuable, secure, and no one can mess with it.”
The event will take place inside the 18,000+ capacity Honda Center in Anaheim, California. In what is the first defense of Ngannou’s title reign, the fight is an intriguing heavyweight clash in which both fighters will enter the arena fresh off their best performances to date, and the winner could very well be the new face of the heavyweight class for years to come.
London restaurant Tahini's expands across Ontario with Bitcoin boost
Twenty-two months ago, Aly Hamam didn’t know if his Middle Eastern restaurant in London would survive the COVID-19 pandemic.
“Everything shut down, and our sales dropped 80 per cent in a week,” said Hamam, who owns Tahini’s restaurant alongside his brother Omar and cousin Ahmed.
“It was pretty terrifying,” the 32-year-old said. “We worked day and night, 24-7 to keep the restaurants alive.”
There were three Tahini’s restaurants at that time, all in London. Today, that number is triple the size, spread over a larger territory — nine restaurants across southern Ontario, four in London — as they continue to grow.
“Now we’re at nine locations Ontario-wide, and we’re looking to hit 20 to 25 locations by the end of 2022,” Hamam said.
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