BTC Bitcoin Cryptocurrency Betting
Bitcoin is the cryptocurrency that started it all. There are dozens of other cryptocurrencies you can use to deposit at BookMaker and hundreds more on the periphery, but Bitcoin is the most well-known of the bunch, and the only one your aunt Ethel and uncle Fred know. The coin that dominates the crypto space surged past $60,000 in March 2021 and might be poised for an even bigger run ahead of the holidays.
Monday, March 24, 2025 News Update
Early Monday saw a rise in the price of bitcoin and other cryptocurrencies, which was sparked by remarks made by President Donald Trump this weekend that emphasized the administration's tariff plan. Bitcoin rose from its late Friday low of about $84,000 to above $88,000 on Monday. By Monday morning, Ethereum had risen from about $1,960 on Friday night to $2,090.
Trump, meanwhile, changed his position on tariffs on Friday, stating that "there'll be flexibility" over the alleged retaliatory penalties that he is anticipated to impose on April 2. According to some sources, the Trump administration may not impose fresh, distinct sector-specific tariffs on semiconductors, pharmaceuticals, and cars, and it may also exclude certain nations from the impending reciprocal duties.
But April 2 also marks the end of Trump's current tariff freeze on a number of imports from Canada and Mexico. U.S. tariffs on foreign goods will increase significantly once more on April 2, even if Trump adopts a more moderate tariff stance. The basic case for the Trump tariffs, according to Federal Reserve Chair Jerome Powell earlier last week, is that they will have a "transitory" effect and increase inflation this year but not over time. Powell also planned to lower interest rates by half a percentage point later this year.
A five-week run of outflows was broken last week by the first inflows into digital asset investment products. According to CoinShares data, $644 million was invested in digital assets last week. Following $5.4 billion in outflows over the previous five weeks, Bitcoin led the reversal with $724 million in inflows. However, not every cryptocurrency profited. Over the course of the week, $86 million was taken out of Ethereum. $7.1 million was taken out of short-bitcoin investment instruments for the third week in a row.
Inflows to Solana totaled $6.4 million throughout the week. With $464 million in inflows last week, the iShares ETFs lead the group; but this month has already seen $131 million in outflows. Inflows into the Fidelity bitcoin ETF totaled $136 million, bringing monthly outflows to $372 million. Through March 21, we had outflows of $1.08 billion in total digital assets.
Early Monday saw a 5% increase in the iShares Bitcoin Trust ETF (IBIT) and other spot bitcoin ETFs. Up until Friday, the ETFs' shares had dropped around 10% in 2025. Early Monday saw a 5.2% increase in Coinbase's (COIN) stock as cryptocurrency prices rose. As of Friday's close, COIN stock has lost 23.5% of its value this year. Monday saw a 7% increase in Strategy (MSTR), formerly known as MicroStrategy.
Michael Saylor of Strategy said on Monday that the company had paid around $584 million, or $84,529 per bitcoin, for an additional 6,911 bitcoins. With an average purchase price of $66,608 per bitcoin as of Sunday, Strategy currently owns 506,137 bitcoin. The business used the money it collected via its regular stock sale programs, also referred to as ATMs (at-the-market offers), which included both its new preferred shares (STRK) and common stock (MSTR).
MicroStrategy raised $592.6 million after fees from the sale of 1,975,000 shares of MSTR between March 17 and March 23. In order to raise an additional $1.1 million, it simultaneously sold 13,100 shares of STRK, its 8% Series A Perpetual Preferred Stock. "Approximately $3.57 billion of MSTR Shares" and "$20.99 billion of STRK Shares" are still offered for sale through the corresponding ATM programs, per the company's 8-K filing.
Bitcoin Weekly Price Per CoinMarketCap
| WEEK |
BITCOIN PRICE IN USD |
| March 24, 2025 |
88,043.32 |
| March 17, 2025 |
82,748.61 |
| March 10, 2025 |
80,483.17 |
| March 3, 2025 |
90,833.10 |
| February 24, 2025 |
94,569.34 |
| February 17, 2025 |
96,701.18 |
| February 10, 2025 |
97,403.56 |
| February 3, 2025 |
96,864.15 |
| January 27, 2025 |
101,643.23 |
| January 20, 2025 |
106,822.51 |
| January 13, 2025 |
92,117.84 |
| January 6, 2025 |
101,692.99 |
Monday, March 17, 2025 News Update
According to Reuters, which cited anonymous sources, Russian oil businesses are converting rubles into Chinese yuan and Indian rupees with the aid of bitcoin and other cryptocurrencies like ethereum and the stablecoin tether. According to the article, even if sanctions were repealed and the U.S. dollar was once again accepted, Russian oil businesses would still prefer to trade using Bitcoin and cryptocurrency.
As early as 2022, Russian millionaires and oligarchs who were severely restricted in their ability to make money after the country's invasion of Ukraine reportedly turned to cryptocurrency and bitcoin. A "limited circle of Russian investors" will be able to purchase and sell bitcoin and other cryptocurrencies, the Bank of Russia said this week.
“In accordance with the instructions of the president of Russia, the Bank of Russia has sent proposals to the government for discussion on regulating investments in cryptocurrencies,” a translated announcement read. "This is a new status that ... citizens will receive if their investments in securities and deposits exceed 100 million rubles or if their income over the past year was more than 50 million rubles.”
Russia and the United States have contributed to the current spike in the price of bitcoin. The Russian central bank has progressively loosened its stance on bitcoin and cryptocurrency, supporting a measure last year that permitted companies to use them for cross-border transactions. As Donald Trump's government prepares to turn bitcoin into a strategic reserve asset, halting the planned sale of bitcoin and cryptocurrency that the United States has confiscated, Russia is showing increasing support for these digital currencies.
It was reported in the media that one of Donald Trump's top bitcoin and cryptocurrency officials stated that the Trump administration wants to buy as much bitcoin as possible. This helped to reverse a sell-off in the price of bitcoin that was brought on by Trump's plans for a bitcoin reserve not meeting expectations.
According to a December report, Russian MPs were urging the establishment of a bitcoin strategic reserve akin to Trump's plan. Prior to the Western countries seizing its funds after its invasion of Ukraine, Russian President Vladimir Putin had hailed bitcoin as a substitute for foreign currency reserves.
Another country, South Korea, is taking a more cautious approach to Bitcoin. According to a Korea Economic Daily article, the Bank of Korea (BOK), the country's central bank, has adopted a cautious approach to adding bitcoin to its foreign exchange reserves.
The BOK clarified on Sunday that it has not considered adopting Bitcoin in answer to a query from a member of the National Assembly's Strategy and Finance Committee. Bitcoin's well-known price volatility serves as the main deterrent for the BOK. The central bank is concerned that the erratic fluctuations in the cryptocurrency market may significantly increase the cost of transactions when converting bitcoin to cash, so endangering its reserves.
The BOK further noted that bitcoin does not adhere to the foreign exchange reserve management guidelines set forth by the International Monetary Fund (IMF). Because of its volatility, bitcoin does not meet the IMF's emphasis on the need for careful management of liquidity, market, and credit risks.
With local startups, tokens, exchanges, and businesses generating billions of dollars in daily trade volumes inside a somewhat isolated crypto market, South Korea boasts a thriving crypto ecosystem.
Monday, March 10, 2025 News Update
Bitcoin has been getting crushed over the past week, dropping more than 10% in value. One of the companies that has suffered the most because of the drop in Bitcoin price is Strategy, Michael Saylor’s company that has purchased billions in Bitcoin. The news is not all bad for Strategy, as they are still up $7.8 billion in profit on its Bitcoin holdings.
With more value lost in the last seven days than at any previous point in its trading history, Bitcoin saw its biggest weekly loss ever. According to data from Cointelegraph Markets Pro, the price of Bitcoin dropped 13.6% in a single week, from $93,379 on March 3 to a low of $80,483 on March 10.
Michael Saylor's Strategy continued to outperform its Bitcoin acquisitions in spite of the market decline. Purchased at an average price of $66,423 per token, the corporation possessed 499,096 Bitcoin. Despite the drop, Strategy has spent $33.1 billion on Bitcoin acquisitions, and its holdings are currently worth $41.2 billion, a 24% unrealized gain.
The significance of the dollar-cost averaging strategy in investing is demonstrated by Strategy's Bitcoin investments. The business divided its Bitcoin purchases over time rather than making a single purchase, and it kept buying tokens regardless of price fluctuations.
Other businesses that just joined the Bitcoin market have not fared as well. Semler Scientific, a software and healthcare technology company that began holding Bitcoin on May 28, has seen a 6.25% decrease in its purchases, according to Bitcoin holdings tracker BitcoinTreasuries.NET. The business has 3,192 Bitcoin, which it purchased for an average of $87,850. This indicates that the Bitcoin that was bought for more than $280 million is now only worth about $262 million.
Known as "Asia's Strategy," Metaplanet has a little decrease in its Bitcoin holdings. Following Strategy's lead, the company began to include Bitcoin on its financial sheet in April 2023. 2,888 were purchased at an average price of $83,049 and are held by Metaplanet. Its Bitcoin assets have dropped by more than $2 million, or almost 1%.
In other developments, as the Markets in Crypto-Assets regulation goes into effect throughout the European Union, Spain's financial regulator has approved the Spanish banking behemoth Banco Bilbao Vizcaya Argentaria (BBVA) to allow its customers to trade bitcoin and ether. With this permission, BBVA has completed a multi-year procedure to give its clients access to digital assets. According to a Reuters story, the Spanish banking behemoth Banco Bilbao Vizcaya Argentaria (BBVA) has received permission from the nation's financial regulator to allow its customers to trade bitcoin (BTC) and ether (ETH).
Because Switzerland already had a defined legal framework for digital assets under the Financial Market Supervisory Authority (FINMA), BBVA originally intended to start its crypto services from Switzerland rather than Spain or other EU nations. Through a local affiliate, BBVA began cryptocurrency trading in Turkey in January.
Société Générale's SG-FORGE is introducing a euro stablecoin on the XRP Ledger, and Deutsche Bank of Germany is creating an Ethereum rollup with ZKsync and providing custody with Taurus. As a result, BBVA is not the first European bank to get involved in the cryptocurrency space.
Monday, March 3, 2025 News Update
It was a down month in February for cryptocurrencies but March has brought optimism, as U.S. President Donald Trump said that the United States will create a crypto reserve. He said on Sunday in a Truth Social post that the United States reserve would include Bitcoin, Ether, XRP, Solana and Cardano. Trump has already signed an executive order to create a crypto reserve and now the coins expected to be in the reserve have been identified. Some companies that deal in Bitcoin regularly soared on the news, including Strategy (MSTR), the largest corporate holder of Bitcoin. The company, formerly known as MicroStrategy, jumped 12% on the news, while Riot Platforms and MARA Holdings, went up 7% and 9%, respectively, while Coinbase went up over 3%.
“A U.S. Crypto Reserve will elevate this critical industry after years of corrupt attacks by the Biden Administration, which is why my Executive Order on Digital Assets directed the Presidential Working Group to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA,” Trump wrote in the Truth Social post. “I will make sure the U.S. is the Crypto Capital of the World. We are MAKING AMERICA GREAT AGAIN!” Trump said in another post that he loves Bitcoin and Ether. “And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!”
Bitcoin went up to more than $92,000 before falling back to just over $90,000 on Monday morning. It was a welcome rise because February was the worst month for Bitcoin since June of 2022, as Bitcoin dropped nearly 17% in February. Trump's announcement on Sunday sent cryptocurrencies soaring, as it was a $300 billion global crypto rally that continued into Monday.
“What was expected to be a ‘Bitcoin national stockpile’, has turned out to be a ‘Crypto strategic reserve’ covering multiple digital assets,” Bernstein analysts said on Monday morning in a note. “(The) Crypto community was surprised to see digital assets beyond Bitcoin in the U.S crypto reserve.” The crypto national reserve idea was proposed by United States Senator Cynthia Lummis who is a Republican from Wyoming. She said in a 2024 bill that the U.S. should establish a Strategic Bitcoin Reserve and her idea has taken hold. The question is whether or not the reserve can be created simply by an executive order or whether it needs congressional approval. “It is not clear, if the strategic reserve can be created merely by President’s executive order," Bernstein analysts said in a note. "If the Fed balance sheet is involved, it would require a specific bill to be passed by the Congress. It is also unlikely, the government can pull off the reserve under the Treasury, without involving the Fed balance sheet.”
There is no question that Trump has been more crypto-friendly than Joe Biden was and markets have taken notice. As Trump seeks to undo the restrictions imposed under the Biden administration, the SEC last week canceled its investigations into Coinbase (COIN), Robinhood (HOOD), and other cryptocurrency companies. In addition to Bitcoin, other cryptocurrencies saw a surge on Monday. Ether surged to above $2,300, up 4.6%. XRP increased about 18% to a still-low level of approximately $2.60, while Solana increased 13% to about $160. Cardano increased by around 50% to about $1.
Monday, February 24, 2025 News Update
Just ten days after the first measure was submitted, another Bitcoin reserve bill was presented in the state of Georgia that would allow the state treasurer to invest in Bitcoin without any restrictions. The state treasury would be able to invest in Bitcoin without any restrictions if a Bitcoin reserve bill was introduced. The Georgia State Treasury Department would also have to create its own rules and guidelines to allow for the "acceptance, storage, and transacting of Bitcoin," according to Senate Bill 228.
Additionally, the bill states that the state treasury's Bitcoin investment must adhere to local regulations and policies. Competing against the first Bitcoin reserve measure, the second bill is regarded as a "partisan" rival. The inclusion of an investment cap for Bitcoin hoarding is a significant distinction between the two measures. While the second bill has no investment limits for the state treasury, the first bill has a 5% investment cap. Four state senators, including Senator Esteves, proposed SB 228; it is still for review. On February 14, Georgia Senator Greg Dolezal introduced the first Bitcoin reserve bill, which was co-sponsored by Senators Clint Dixon and Brandon Beach.
At least 21 U.S. states are considering cryptocurrency strategic reserves, according to the Bitcoin Reserve Monitor. With 19 state laws still pending, two still evaluating ideas, and four rejected, each state is at a distinct point of the legislative approval process.
The four states that have turned down bills for Bitcoin reserve measures are Wyoming, Montana, North Dakota, and Pennsylvania.
The House of Representatives rejected a piece of legislation on Friday, halting Montana's plan to use public dollars to purchase Bitcoin. Representative Curtis Schomer proposed House Bill 429 earlier this month, which aimed to establish a special revenue account that would allow up to $50 million to be set aside for precious metals, cryptocurrency, and stablecoins. Schomer stated that diversifying the state's assets and maybe offering greater returns than conventional bond investments were the goals.
Despite being the only digital currency with a $1.8 trillion market value that met the bill's requirements, Bitcoin (BTC) faced fierce resistance from politicians, ultimately losing a 41-59 vote in the House. Montana now follows North Dakota, Wyoming, and Pennsylvania in rejecting proposals for Bitcoin reserves.
Montana has chosen to exercise caution, while other states are embracing Bitcoin reserves more quickly than the federal government, integrating them into public finance. According to statistics from the Bitcoin Reserve Tracker, there are currently about 19 state proposals pending, including those in Arizona, Illinois, Kentucky, Maryland, Oklahoma, New Hampshire, and Texas.
The Blockchain and Digital Innovation Amendments bill from Utah is still pending. It would allow the state treasurer to invest up to 5% of public monies in digital assets.
A plan that would let up to 10% of public funds, including pension systems, to be invested in cryptocurrency has been advanced by Arizona's Senate Finance Committee. The bill will now be examined further by the Senate Rules Committee before moving on to the House of Representatives for additional review.
Additionally, Texas is considering two other bills: one that would allow up to 1% of the general income pool to be utilized for Bitcoin, and another that would address Bitcoin donations and cryptocurrency payment conversions.
In the meantime, nations including Russia, Japan, Switzerland, and Brazil are investigating the possibility of incorporating Bitcoin into their national reserve plans.
Monday, February 17, 2025 News Update
Bitcoin continues to attract investors, as now individual states are putting money into the top cryptocurrency. With a staggering $330 million dollar investment in Strategy, previously MicroStrategy, twelve American states are investing in Bitcoin. An important turning point in the incorporation of cryptocurrency into institutional portfolios has been reached with this movement. Bitcoin has never been so close to American pension funds. Twelve states recently revealed a $330 million dollar investment in Strategy, the former MicroStrategy, an economic monitoring firm that was converted into a gigantic Bitcoin vault.
With more than $150 million dispersed across many public pension accounts, California is at the front of the pack. The California Public Employees' Retirement System owns 264,713 shares of Strategy, for a total of over 76 million dollars, while the California State Teachers Retirement System alone owns 285,785 shares, worth almost 83 million. California is the institutional stronghold of this drive for digital gold because of this double bet.
Other states have done the same, including North Carolina (22 million), Wisconsin (29 million), and Florida (46 million). The adoption of bitcoin in state financial strategy has been gradual but considerable. These investments demonstrate the increasing trust that institutions have in the Strategy model, which, it should be noted, presently holds 478,740 BTC, or almost 46 billion dollars at current exchange rates. Over the course of the year, Strategy's stock has increased by 383%, outpacing the 62% growth of the cryptocurrency market.
By placing bets on strategy, these pension funds can have indirect exposure to bitcoin without having to handle the asset's holdings directly. An ingenious tactic, but one that is hazardous considering bitcoin's infamous volatility. The latest by Strategy was a 7,633 BTC purchase between February 3 and February 9 at an average price of 97,255 USD per unit. A daring wager that exemplifies Michael Saylor's assertive outlook, who is certain that bitcoin will be the future of value stores. Whether the market will eventually support this concept is still up in the air.
With these significant investments, the US appears to be making a strategic change: certain government agencies would rather use bitcoin than ignore it or oppose it. An adoption that might encourage similar actions in other nations. If we've learned anything from recent history, it's that Wall Street and the US never pass up an investing opportunity.
There are other large companies with significant Bitcoin investments besides Strategy. According to reports, the massive financial services company Goldman Sachs owns shares in Bitcoin (BTC) and Ethereum (ETH) exchange-traded funds (ETFs) valued at about $2 billion. Goldman Sachs presently owns $1.63 billion worth of Bitcoin ETFs and $196.3 million worth of Ethereum ETFs, with the majority of the shares originating from BlackRock's iShares Bitcoin Trust (IBIT), according to a recent filing with the U.S. Securities and Exchange Commission (SEC).
According to the data, the banking company has 49,183 shares of the Grayscale Bitcoin Trust (GBTC) valued at over $3.7 million, 24,077,861 shares of IBIT valued at over $1.33 billion, and 3,530,486 shares of Fidelity Wise Origin Bitcoin (FBTC) valued at over $300 million.
According to the data, Goldman Sachs has 200,000 shares of the Grayscale Ethereum Mini Trust ETF, which is valued at over $5.1 million, and 7,024,747 shares of the Fidelity Ethereum Fund (FETH), which is valued at over $191.1 million. In 2024, the SEC approved ETFs based on Bitcoin and Ethereum, which let investors invest in the top two digital assets by market capitalization without having to buy them directly.
Monday, February 10, 2025 News Update
Where is the price of Bitcoin headed? The world’s leading cryptocurrency dipped under $100,000 recently and has been hovering just under that mark in recent weeks. Could it be time for a Bitcoin run that takes it well beyond the $100,000 mark? The BITCOIN Act of 2024 allows the United States to buy up to one million Bitcoins over a five-year period. That amounts to five percent of the entire amount of Bitcoin in circulation. That would essentially turn the United States into a Bitcoin powerhouse. Estimates of how much Bitcoin the US might purchase are even more ambitious. Then-candidate Robert F. Kennedy, Jr. (now slated to be the U.S. Secretary of Health and Human Services) suggested during the 2024 presidential election that the United States should purchase 550 Bitcoins per day until it had accumulated 4 million Bitcoins. Naturally, the volume of Bitcoin purchases is entirely unprecedented.
However, bear in mind that there is no clear model for the United States to follow, and no one is certain that this strategic Bitcoin reserve will ever be established. Other digital currencies may be added to the mix, as the Trump administration already seems to be moving away from calling this a "Bitcoin reserve" and instead referring to it as a "national digital asset stockpile."
The fascinating part comes when you think about how other countries can be affected by the establishment of this strategic Bitcoin reserve. It may be necessary for other countries to purchase Bitcoin if the United States, the world's largest economic power, does. If not, they may be abandoned. Although Fidelity calls this "political and economic game theory," seasoned cryptocurrency investors understand that it's actually FOMO, or the fear of missing out.
El Salvador is now the greatest example of a country that has carefully purchased substantial quantities of Bitcoin. Since 2021, when it formally recognized Bitcoin as legal cash, it has been actively purchasing the cryptocurrency. It presently has 6,000 Bitcoins valued at an estimated $600 million, according to Fidelity.
Although it may seem like a lot of Bitcoin, MicroStrategy, a single American company, actually owns a lot more. MicroStrategy owned 471,170 Bitcoins as of January 2025. Additionally, 198,000 Bitcoins are held by the U.S. government due to asset forfeitures and seizures. The United States might purchase 200,000 Bitcoins in a year if it proceeds with its ambitions to establish a strategic reserve.
Additionally, keep an eye on events in Europe. The chairman of the central bank of the Czech Republic hinted that the country would begin purchasing Bitcoin at the beginning of February. The current plan is to purchase $7 billion worth of Bitcoin, or around 5% of the worldwide reserves held by the Czech National Bank. Other European countries may purchase Bitcoin if that strategy proceeds.
Given all of this fresh purchasing by central banks and sovereign governments, it may seem unrealistic to predict that the value of Bitcoin could quadruple. Alright. But think about what transpired with the new spot Bitcoin ETFs and how they affected the price of the cryptocurrency. These spot Bitcoin ETFs amassed assets under management of about $100 billion in a single year. Assuming that the price of Bitcoin is $100,000, that amounts to around one million Bitcoins. The quantity of one million Bitcoin should seem familiar because that is precisely how much the US government may purchase for its strategic Bitcoin reserve.
And we all witnessed what transpired when there was a massive Bitcoin purchase. The price of Bitcoin surged by 122% as soon as the new spot Bitcoin ETFs were introduced. From $44,000 in January 2024 to over $100,000 by December, the price of bitcoin literally doubled. Central banks and sovereign nations purchasing Bitcoin may be a far larger trend than most people realize. It actually has the potential to revolutionize the cryptocurrency industry. The global financial order's rules would shift, resulting in a whole new game. Naturally, the country with the largest Bitcoin holdings will emerge victorious.
Monday, February 3, 2025 News Update
Monday saw a selloff in global markets as investors were alarmed by the prospect of a trade war, sending cryptocurrency values plummeting, with bitcoin hitting a three-week low. The largest cryptocurrency in the world, Bitcoin, fell 6.2% to a three-week low of $91,441.89 overnight before rallying back to $96,000. The value of the smaller cryptocurrency ether has dropped by almost 25% since Friday, the largest three-day decline since November 2022. The most recent price was $2,592.14.
President Donald Trump of the United States levied 25% tariffs on Mexican and most Canadian imports over the weekend, and 10% on Chinese goods beginning on Tuesday. China said it would contest Trump's tariffs at the World Trade Organization, while the United States' two largest trading partners, Canada and Mexico, swiftly pledged punitive actions.
According to CoinGecko data, about 25% of the top 100 cryptocurrencies have had a 20% or more decline in value in the past day. In pre-market trading, shares of Coinbase, a cryptocurrency exchange based in the United States, fell 5.5%. CoinGecko reports that Trump's cryptocurrency, $TRUMP, fell below $20. The cryptocurrency was first introduced just before Trump was sworn in, and on January 19, it hit highs of almost $73.
Cryptocurrencies have recently been responsive to the general mood of the markets and trade all day, including on weekends. Investors are concerned that tariffs may be inflationary and negatively impact company earnings and growth. "Crypto is really the only way to express risk over the weekend, and on news like this crypto resorts to a risk proxy," Pepperstone’s head of research, Chris Weston to the media.
Because it is simpler to sell ether rapidly during times of market stress and because some buyers view it as a "risk-off asset" similar to gold, Bitcoin has declined less precipitously than ether.
"What we've been seeing isn't so much that ether is being uniquely hard-hit (most of the market is down similarly or worse) but rather that bitcoin is holding up uniquely well," Joseph Edwards, head of research at Enigma Securities said to the media.
Following a robust surge following Trump's election, cryptocurrency is now facing additional negative pressure as some investors are dissatisfied with the lack of prompt action to support the industry or relax rules since he took office.
In anticipation of crypto-friendly rules from the Trump administration, Bitcoin has risen 40% since the election in early November and reached a record high of $107,071.86 on January 20, the day Trump was sworn in as the 47th President of the United States.
During his campaign, Trump, who had called cryptocurrency a hoax, welcomed digital assets and pledged to turn the US into the "crypto capital of the planet."
Trump established a working group on cryptocurrencies a few days after taking office, with the goal of establishing a national cryptocurrency stockpile and suggesting new rules for digital assets.
Paul Howard who is a senior director at crypto market-maker Wincent, said that people were expecting big things from Trump with crypto and that they have been disappointed. He said that "the organic growth we anticipate over the coming years in part due to the friendlier U.S. administration will likely outweigh the short term volatility and macro economic (tariff) news the next few weeks."
History
In January 2009, Bitcoin was created by Satoshi Nakamoto. The identity of Nakamoto remains hotly debated to this day, but that person or group changed the world with this invention. Like many major breakthroughs, it took a while for people to grasp why Bitcoin was special. Bitcoin was created in the midst of the banking crisis, and one of its major goals was to give people another option to buy and sell products outside of a heavily regulated and centralized banking system.
The first entities to fully embrace Bitcoin were black market enterprises like Silk Road. For a while, Bitcoin became synonymous with the notorious website, but its use became more and more widespread starting in 2013.
That led to the price of Bitcoin skyrocketing and reaching incredible heights in 2017. On January 1, 2017 a single Bitcoin was worth $998, but that price rose by nearly 20-fold near the end of the year, hitting an all-time high of $19,666 on December 17, 2017. Bitcoin has left those prices in the dust in 2021, as the price of Bitcoin is approaching $50,000.
Stability
One of the major criticisms of Bitcoin is that the currency wildly fluctuates and that has proven to be true in 2021. As Bitcoin has become more accepted and understood, investors are getting a better understanding of what leads to price changes, and that has led to the Bitcoin market looking a lot like the stock market.
Security
There have been fears over how secure Bitcoin is over the years, but transactions are even more secure as they are in the traditional marketplace thanks to blockchain technology.
Whereas we are constantly hearing stories of companies having their databases hacked and identities being stolen, the nature of blockchain presents this from happening with Bitcoin.
For a transaction to occur, the sender must know their private key and digitally sign the transaction, and the signature must be verified by the network using the public key. The number of private keys makes it nearly impossible to hack into another person’s account, but there is one thing to keep in mind. You MUST keep your private key backed up somewhere or else you will lose access to your Bitcoin. Don’t make the mistake of not backing up your private key and risk losing your hard earned money.
How do I buy Bitcoin?
You can buy Bitcoin by using one of the major currency exchanges such as Coinbase or Gemini. These exchanges allow you to use a credit or debit card or bank transfer to buy Bitcoin. You can then send Bitcoin to your sportsbook account and you can withdraw Bitcoin from your sportsbook account to your digital wallet.
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