BitcoinBites: 5 BTC stories you should know – October 20th, 2021
Bitcoin officially hits new all-time high above $65K
Bitcoin (BTC) has hit a new all-time high in United States dollars as a long-awaited surge pushes BTC/USD into price discovery.
On the second day of trading for the hugely popular ProShares Bitcoin Strategy ETF, BTC/USD again surged ahead of the U.S. open — a practice that has characterized the pair in recent days.
On social media, Bitcoin’s best-known names were celebrating.
“The halls of eternity echo with the cries of those who sold their Bitcoin,” MicroStrategy CEO Michael Saylor summarized.
ProShares Bitcoin Futures ETF ‘BITO’ hauls in $570M of assets in stock-market debut
The first-ever exchange-traded fund (ETF) backed by bitcoin futures hauled in some $570 million of assets on its first day of trading, a sign of just how hungry investors remain for bets on the cryptocurrency as prices approach a record high.
ProShares, the fund’s sponsor, announced the level of assets in an emailed notice from a press representative. The ProShares Bitcoin Strategy Fund, which launched Tuesday on the New York Stock Exchange under the ticker BITO, had $20 million of seed capital at the start of the day.
Square enters the world of Bitcoin mining
Jack Dorsey’s Square is getting into Bitcoin mining. The announcement was made by the CEO himself, who is also leading Twitter.
Square is considering building an open source Bitcoin mining system dedicated to individuals and companies around the world.
The aim is to make Bitcoin mining affordable for everyone. In fact, Bitcoin mining is currently in the hands of a few huge companies, which used to be concentrated in China, and are now mostly moving to North America.
Jack Dorsey's Square doubles its money on Bitcoin Investment
Jack Dorsey’s Square has officially doubled its money on its Bitcoin investment. The company’s $220,000,000 invested in Bitcoin is now worth over $470,000,000.
To date, Square holds approximately 8,027 bitcoin, acquired at an aggregate purchase price of $220,000,000 and an average price per bitcoin of $27,407, inclusive of fees and expenses.
Top Bitcoin casinos are on course to overtake traditional casinos
The online gambling industry feels like it has been around forever, but it’s only in the last 20 years or so that it’s been considered normal to place bets and play real money online games. The reason it feels so old is that it has experienced several major evolutions over the years, from instant play games to web wallets and mobile play.
The most recent innovation concerns cryptocurrencies. These currencies offer a multitude of benefits for online gamblers and so they are being embraced by more casinos and more players than ever before.
BONUS BITE: Bitcoins ATMs are rare but rising
Whether bitcoin ATMs are novel or necessary remains up in the air, but installation figures are trending upward in 2021.
According to a new report released by Finbold, a total of 13,242 bitcoin ATMs have been installed globally over the first three quarters of 2021.
“With the recent demand for assets like bitcoin growing, the number of ATMs supporting digital currency transactions is also on the rise,” the report said.
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