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, January 20, 2025 News Update
After a brief decline that saw it fall below $90,000, Bitcoin recently surged beyond the $105,000 mark on Friday and then on Monday it went past $110,000 before coming back down slightly. Hopes that President-elect Donald Trump will change the course of American cryptocurrency after taking office on Monday are driving the recovery. In stark contrast to the crackdowns of Biden's government, Trump made a campaign pledge to make America a global leader in cryptocurrency, complete with a national bitcoin stockpile. According to reports, he is drafting an executive order to establish an advisory council with industry insiders and make digital assets a national priority. With contributions from Circle, Ripple, and other major corporations for his inauguration committee, Trump has swiftly emerged as the new best friend of the cryptocurrency community. The industry's influence on Capitol Hill has never been greater.
Not only is Bitcoin rising, but the third-largest cryptocurrency and token associated with Ripple Labs, XRP, surged almost 40% this past week to a record $3.4, outperforming all other significant digital assets this month. Its current market valuation of over $190 billion is fueled by hope that the Trump administration will enact more lenient crypto regulations. Brad Garlinghouse, the CEO of Ripple, recently told the New York Times that he had dinner with Trump at Mar-a-Lago and that he urged the establishment of a federal cryptocurrency stockpile, which would include XRP. Recently, Ripple introduced RLUSD, a new stablecoin on Ethereum and the XRP Ledger. The SEC filed a lawsuit against San Francisco-based Ripple Labs in 2020, alleging that the business was selling unregistered securities. The crypto industry saw a partial victory when a U.S. district judge ruled that XRP is a security when sold to institutional investors but not to ordinary investors. The SEC is contesting the ruling, although the appeal's prospects may be uncertain given the anticipated appointment of a more crypto-friendly SEC chair.
MicroStrategy is in the Bitcoin news again, as MicroStrategy is indicating that it will buy Bitcoin for the eleventh week in a row. "Things will be different tomorrow," co-founder Michael Saylor wrote on a Bitcoin chart he shared on January 19, coinciding with President-elect Donald Trump's inauguration on January 20. The corporation now has 450,000 Bitcoin holdings after purchasing 2,530 BTC earlier this month for $243 million. At their current worth of $47.3 billion, these assets represent a 69% return on the company's investment. This is in line with MicroStrategy's goal to raise $42 billion for additional Bitcoin purchases through stock and fixed-income securities.
Saylor presented a regulatory framework for the United States in December 2024, with targets to increase the market value of Bitcoin to $10 trillion and the size of the digital asset market to $280 trillion. This sentiment has been mirrored by asset manager Anthony Pompliano, who has urged the federal, state, and local governments to swiftly purchase Bitcoin in order to gain a competitive edge. An optimistic market prognosis and MicroStrategy's methodical approach to Bitcoin acquisitions highlight the growing institutional faith in the cryptocurrency's potential. Saylor's approach and calls for state adoption, as Bitcoin approaches record highs, are part of a larger movement to make digital assets more widely accepted. As significant events take place in the cryptocurrency world, Bitcoin's institutional support and market performance continue to garner attention.
Bitcoin Weekly Price Per CoinMarketCap
| WEEK |
BITCOIN PRICE IN USD |
| January 20, 2025 |
106,822.51 |
| January 13, 2025 |
92,117.84 |
| January 6, 2025 |
101,692.99 |
| December 30, 2024 |
92,207.53 |
| December 23, 2024 |
93,150.23 |
| December 16, 2024 |
106,038.27 |
| December 9, 2024 |
100,227.77 |
| December 2, 2024 |
96,465.75 |
Monday, January 13, 2025 News Update
The rollercoaster that is Bitcoin is in full motion in 2025, as the cryptocurrency has fallen from a high of more than $100,000 to start the year to below $90,000 in less than two weeks. The price bounced back over $92,000 on Monday. The sharp decline in the price of bitcoin has raised concerns that the Federal Reserve may be preparing to cause a price collapse. Despite Trump's confirmation that he is planning a bitcoin price game-changer, the price of bitcoin has fallen precipitously from its peak of about $110,000 per bitcoin following his election victory. Now that the Fed has been alerted to an impending crisis, dealers of bitcoin and other cryptocurrencies are anxiously awaiting word on whether the combined market will go below the crucial $3.2 trillion line.
"The start of the new year has not been easy for the crypto market," Alex Kuptsikevich, the FxPro chief market analyst, said in an emailed note. "The next target for the bears looks to be the $88,000 area. And in a negative scenario, bitcoin will face a quick pullback to $74,000."
A series of encouraging economic reports that indicate the Federal Reserve is less likely to lower interest rates this year have slowed the bitcoin and cryptocurrency market's ability to maintain its post-Trump election gains.
"Losing over 2% in 24 hours to $3.22 trillion, the market was back at the bottom of the consolidation range since the end of November," Kuptsikevich wrote. "The promising start to the year failed to materialize. It is with some trepidation that we now watch the eighth or so attempt to break below $3.20 trillion. Adding to the unease is the fact that last week's upside momentum failed to develop, only attracting sellers."
In other news, MicroStrategy Inc., a business software company that has become a big buyer of Bitcoin, purchased $243 million worth of Bitcoin recently As co-founder and chairman Michael Saylor increases purchases as part of a buy and hold strategy he started in 2020, the Tysons Corner, Virginia-based company currently holds more than 2% of all the Bitcoin that will ever exist. About $41 billion worth of the initial cryptocurrency is owned by MicroStrategy. MicroStrategy filed a report with the US Securities and Exchange Commission on Monday, stating that it bought 2,530 Bitcoin tokens between January 6 and January 12 at an average price of about $95,972.
In order to buy more Bitcoin, the so-called Bitcoin treasury firm intends to generate $42 billion through convertible debt offers and at-the-market stock sales through 2027. Within three months of revealing its ambitions, MicroStrategy has already exceeded two-thirds of its equity targets. With a shareholder vote set for January 21 to determine whether to raise the authorized number of shares of its Class A common stock from 330 million to 10.3 billion, the company intends to accelerate its equity offerings. Offering perpetual preferred stock, which would be senior to its Class A common stock, is another way MicroStrategy intends to fund $2 billion. Even while MicroStrategy's stock closed at $327.91 on Friday, up 13% so far this year, it is still far behind its peak of almost $474 in November. After rising 120% in 2024, Bitcoin has fallen roughly 3% this year.
Monday, January 6, 2025 News Update
The beginning of 2025 saw a surge in the price of Bitcoin, as the cryptocurrency soared past the $100,000 mark yet again. More and more companies are getting on board and buying Bitcoin, including Metaplanet, a publicly listed Japanese company. Simon Gerovich, Metaplanet CEO, said the company is looking to expand its Bitcoin holdings to 10,000 coins. In a January 5th message to shareholders, Gerovich said that this past year was “transformational.” He said Metaplanet is Asia’s leading Bitcoin treasury company. It has been reported that Metaplanet already holds 1,762 BTC but that number will seem small to what is coming soon.
Many people believe that Metaplanet's Bitcoin approach is comparable to Microstrategy's, which has more than 447,000 coins of the leading cryptocurrency. In the second half of 2024, the Japanese corporation, like Microstrategy, boosted the frequency of its Bitcoin acquisitions as hope that the cryptocurrency market would do better in the coming year grew. In addition to using cryptocurrencies to make money, Gerovich stated that Metaplanet hopes to contribute to initiatives that promote bitcoin in Japan. “In 2025, we aim to leverage our partnerships to advance Bitcoin adoption in Japan and globally [as well as] explore innovative opportunities to grow Metaplanet’s impact in Japan and the Bitcoin ecosystem,” Gerovich said. Metaplanet made its first BTC purchase in April of last year and the price of its stock which was just under $1.90 surged by more than 10 times and closed 2024 at $22.05.
The largest corporate Bitcoin holder, MicroStrategy, said that it had recently bought 1,070 BTC in the final two days of 2024. On January 6, the business announced the acquisition, claiming to have paid roughly $101 million in cash on December 30–31, 2024. At an average price of about $94,004 per Bitcoin, the purchase was made. MicroStrategy now holds 447,470 BTC, accounting for 2.1% of all Bitcoin that will ever be mined. The most recent purchase was funded by the revenues from the issuing and sale of shares via a convertible notes sales arrangement, same as earlier MicroStrategy Bitcoin purchases.
The transaction was made soon after Michael Saylor, a co-founder of MicroStrategy, posted the Bitcoin chart from the SaylorTracker website on January 5th, hinting at the impending BTC purchase. According to some estimates, MicroStrategy might go into a blackout period in January 2025, which would prevent the company from issuing convertible bonds and shares in order to buy more Bitcoin. Shortly after announcing plans to acquire $2 billion through a permanent preferred stock offering to purchase more Bitcoin, MicroStrategy made its most recent Bitcoin purchase.
Monday, December 30, 2024 News Update
The end of the calendar year 2024 saw Bitcoin slide yet again, as the cryptocurrency was down to nearly $92,000. Although Bitcoin has seen a price drop recently, it may just be a blip on the radar. Many countries are now looking at Bitcoin as part of their financial system. U.S. President-elect Donald Trump has talked about setting up a Bitcoin national reserve and now a Hong Kong legislator is talking about the same thing. Wu Jiexhuang is a member of Hong Kong’s Legislative Council and he said recently in the media that Hong Kong could study the market impact of Bitcoin in the United States.
Jiexhuang cited some US states and smaller countries like Bhutan and El Salvador that have included Bitcoin in their strategic reserves. He went on to say that traditional markets might be significantly impacted by US President-elect Donald Trump's plan to designate Bitcoin as a strategic reserve asset. Jiexhuang suggests that before looking into ways to expand Hong Kong's Bitcoin holdings, the government of Hong Kong could attempt incorporating Bitcoin into ETFs and make excellent use of the "one country, two systems."
Jiexhuang emphasized how Bitcoin has the power to draw in talent and investment while bolstering financial stability in the face of market volatility. He underlined that having Bitcoin in national reserves might give Hong Kong a first-mover advantage by reducing the disruptions brought on by its wider acceptance in conventional markets. According to the report, the Treasury Bureau and Hong Kong's Financial Services will develop crypto regulations using the "same business, same risks, same rules" tenet.
“If major economic powers take the initiative to include Bitcoin in strategic reserves, the value of Bitcoin will be more stable, causing more and more other countries to follow suit and reduce their holdings of traditional assets,” Jiexhuang said in the media, “This will result in the fall of the price of traditional assets and will shrink the government’s fiscal reserves holding traditional assets,” he added. The report claims that China presently has 190,000 Bitcoin through various confiscation measures, ranking second only to the US in terms of Bitcoin reserves.
Another member of the Hong Kong Legislative Council, Johnny Ng, declared in the middle of 2024 that he would work with a number of stakeholders to determine whether adding Bitcoin to the special administrative region's financial reserves would be feasible and advantageous. Ng emphasized how Bitcoin is becoming more and more well-known throughout the world, which makes it an important topic in discussions about digital assets and how they fit into established financial systems.
Monday, December 23, 2024 News Update
It was not a good week for Bitcoin leading up to the last days of 2024, as the cryptocurrency dropped over 12%. The hoopla surrounding Bitcoin going over the $100,000 mark is long gone but despite the recent drop, many people believe 2025 will be another huge year for Bitcoin.
Bitcoin has had a great 2024, surpassing numerous price benchmarks, including $100,000, as a number of reasons increased investor trust in the top cryptocurrency. Demand for the spot bitcoin exchange-traded funds (ETFs) that went live in January was the first step, followed by the anticipation of a halving of the new bitcoin's limited supply and the expectation of crypto-friendly policies following Donald Trump's reelection, which appeared to be bolstered by a number of his post-election appointments.
Some of the previously mentioned reasons for optimism are still relevant, even though the Federal Reserve's most recent projections for lowering interest rates next year rocked the cryptocurrency markets. However, experts warn that if the Fed slows its rate-cutting campaign, Treasury yields may remain high, which would deter investors from bitcoin and other risky assets.
Because of this, some analysts are still optimistic about bitcoin, although they caution about future volatility. Bitwise, a digital asset management, predicted that bitcoin will surpass $200,000 for the first time in 2025. The amount increases to $500,000 if the federal government follows Senator Cynthia Lummis' proposal to purchase one million bitcoins as a "strategic bitcoin reserve."
Although President-elect Trump has also endorsed the notion of a strategic reserve for bitcoin, it is unclear how much the government might own, if it would supplement its current holdings, or what the reserve's intended use would be.
Analysts at Standard Chartered share Bitwise's price prediction for bitcoin and predict that inflows into spot bitcoin ETFs in 2025 will be comparable to those in 2024. As investors pour money into these funds, they must buy bitcoin, which is the underlying investment. According to data from Farside Investors, bitcoin ETFs have experienced net inflows of almost $36 billion so far this year.
VanEck analysts are also bullish, although not as much. They predict that, despite extreme volatility, bitcoin prices would peak around $180,000 in 2025. They predict that after hitting new highs earlier in the year, bitcoin prices would drop by about a third (30%), then consolidate throughout the summer before reaching a peak near the end of the year.
Stephen Miran is Trump's nominee to lead his Council of Economic Advisers. In a statement on the social networking site Truth Social, Trump stated, “Steve will work with the rest of my Economic Team to deliver a Great Economic Boom that lifts up all Americans.” During Trump's first term in office, Miran served as a policy advisor at the Treasury Department. According to his LinkedIn profile, he is currently a Senior Strategist with Hudson Bay Capital Management. Miran has expressed support for Trump's overall economic program and the deregulation of cryptocurrencies. The Senate will need to approve his nomination. Trump already named tech investor David Sacks as his new artificial intelligence and cryptocurrency czar and cryptocurrency proponent Paul Atkins to lead the Securities and Exchange Commission.
Monday, December 16, 2024 News Update
President-elect Donald Trump's suggestion that he intends to establish a strategic reserve of bitcoin in the United States, similar to its strategic oil reserve, fueled the fervor of cryptocurrency bulls and caused Bitcoin to reach a record high above $106,000 on Monday. The addition of MicroStrategy to the tech-heavy Nasdaq 100 index also improved investor mood, which is expected to result in more inflows for the software company that has now purchased bitcoin. "We're in blue sky territory here," said Tony Sycamore, an analyst at IG to the media, "The next figure the market will be looking for is $110,000. The pullback that a lot of people were waiting for just didn't happen, because now we've got this news."
As investors bet that the next Trump administration will bring a more lenient regulatory environment, support for the alternative currency has increased, propelling Bitcoin and cryptocurrency into the public eye. "We're gonna do something great with crypto because we don't want China or anybody else - not just China but others are embracing it - and we want to be the head," Trump told CNBC late last week. When asked if he plans to build a crypto reserve similar to oil reserves, Trump said: "Yeah, I think so."
This year, Bitcoin has increased 192%. As of July, the United States had around 200,000 bitcoins worth over $20 billion at current prices, with governments holding 2.2% of the entire supply, according to data provider CoinGecko. According to data site BitcoinTreasuries, the other nations possessing a sizable amount of bitcoin are China, the United Kingdom, Bhutan, and El Salvador.
Cryptocurrency strategic reserves have also been considered by other nations. Earlier this month, Russian President Vladimir Putin claimed that the current U.S. government was manipulating the dollar for political ends, eroding its status as the world's reserve currency and driving many nations to use other assets, such as cryptocurrency. "For example, bitcoin, who can prohibit it? No one," Putin said.
There are skeptics though, with Federal Reserve Chair Jerome Powell likening bitcoin to gold earlier this month. Analysts also point out that any such move will take time to implement. "I think we still need to be cautious on a BTC strategic reserve, and at least consider that this is not likely to happen anytime soon," said Chris Weston, head of research at Pepperstone to the media, "Of course, any comment from Trump that offers an increased degree of hope that plans for a strategic reserve are evolving are an obvious tailwind, but this would come with consequences which would need to be carefully considered and well telegraphed to market players."
Since Trump and numerous other pro-crypto candidates were elected on November 5, Bitcoin has increased by more than 50%. According to CoinGecko, the value of the cryptocurrency market has nearly doubled this year, reaching a record of over $3.8 trillion. 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." This month, Trump appointed David Sacks, a former PayPal CEO and close friend of Trump adviser and megadonor Elon Musk, as a White House czar for cryptocurrency and artificial intelligence. Additionally, Trump announced that he would appoint Paul Atkins, a pro-crypto lawyer from Washington, to lead the Securities and Exchange Commission.
The exchange operator Nasdaq announced on Friday that MicroStrategy, under the leadership of CEO Michael Saylor, will be included in the Nasdaq-100 Index. The move will take effect prior to the market opening on December 23. The shares of MicroStrategy, an active investor in the biggest cryptocurrency asset in the world, have more than sixfold increased in value this year, reaching a market value of about $94 billion. It now holds the most cryptocurrency among corporations. According to Matthew Dibb, chief investment officer at crypto asset manager Astronaut Capital, investors would purchase MicroStrategy shares in order to replicate the holdings of the larger index, increasing the stock's value and enabling the company to purchase more cryptocurrency through debt and equity offerings.
Monday, December 9, 2024 News Update
Bitcoin surged past the historic $100,000 mark last week and more big name companies are looking to get on board and buy Bitcoin. One of those companies could be Amazon. An appeal has been made by Amazon.com, Inc. shareholders for the $2.3 trillion digital giant to take Bitcoin into account when calculating its balance sheet. The National Center for Public Policy Research proposed the measure, which will be discussed at Amazon's 2025 annual shareholder meeting in April. It asks the Board of the firm to determine whether making Bitcoin a treasury asset would be in the greatest long-term interests of shareholders.
Shareholders emphasize in the motion that, given the continuous inflation, Amazon's present treasury management may not be adequate. “Corporations that invest their assets wisely can – and often do – increase shareholder value more than more profitable businesses that don’t.”
Out of $585 billion in assets (as of September 30, 2024), Amazon now has about $88 billion in cash, cash equivalents, and marketable securities in its treasury, per the accompanying documentation. The architects of the idea contend that these holdings' buying power is being diminished by inflationary pressures and sub-inflationary bond yields.
In support of their claim that "in reality, the true inflation rate is significantly higher," they point to the US Consumer Price Index (CPI) average annual rate of 4.95% for the previous four years, with occasional peaks of 9.1%. In light of this, the argument contends that Amazon has a "fiduciary duty" to take inflation-resistant assets into account.
The shareholders support their argument by citing Bitcoin's past performance. As of December 6, 2024, they report that the price of Bitcoin had increased 131% over the preceding year, outpacing corporate bonds "by 126% on average."
Bitcoin's price rose 1,246% during a five-year period, outpacing the return on corporate bonds by an estimated 1,242%. "Even though those assets are more volatile in the short term, Amazon should—and possibly has a fiduciary duty to—consider adding assets to its treasury that appreciate more than bonds," the plan says.
Other publicly traded companies that own Bitcoin are also mentioned in the publication. According to the proposal, MicroStrategy, one of the first corporate users, saw a 537% increase in stock price over the preceding year, outperforming Amazon's. Institutional firms like BlackRock and Fidelity, which both own sizeable shares in Amazon, have also started offering their customers investment products with a Bitcoin focus. The shareholders also speculate that by 2025, U.S. government policy may change to establish a "Bitcoin strategic reserve," which may be an indication of wider public acceptance.
According to the proposal's conclusion, "Shareholders request that the Board conduct an assessment to determine whether adding Bitcoin to the Company's treasury is in the best long-term interests of shareholders." A comparable campaign by Microsoft preceded this push at Amazon. According to Bitcoinist, a proposal to add Bitcoin as a reserve asset to Microsoft's (MSF) treasury is scheduled for a vote by shareholders on December 10. Analysts point out that the Microsoft Board's recommendation for a "no" vote makes approval unlikely.
Monday, December 2, 2024 News Update
Amidst a historic market surge that has propelled the largest cryptocurrency in the world to unprecedented heights in recent weeks, some nations are considering establishing a national Bitcoin reserve. Donald Trump, the president-elect of the United States, and his supporters have consistently backed legislation that would allow the Federal Reserve to hold the asset, and they will soon have the opportunity to perhaps make that a reality. While lawmakers in Poland and Russia have supported the concept of adding the digital currency to their countries' balance sheets, government officials in Brazil have also proposed legislation to realize that potential.
A strategic Bitcoin reserve is imminent now that Donald Trump is expected to be the next president of the United States. Trump and a number of other American politicians hinted at the notion in July and early August, but it lost traction after the price of Bitcoin plummeted. Senator Cynthia Lummis, a Republican from Wyoming who has been dubbed the "Bitcoin Senator" for her outspoken support of the cryptocurrency sector, is one of those well-known voices. At the Bitcoin conference, she presented ideas for strategic reserves. Token purchases would be made by diversifying current Federal Reserve assets such bonds, loans, and gold. The Bitcoin would be stored in a "decentralized network of secure Bitcoin vaults operated by the United States Department of Treasury."
Since 2021, when Bitcoin became legal tender in the country, El Salvador has been hoarding Bitcoin. El Salvador's president, Nayib Bukele, boasted on Twitter about the country's $100 million unrealized profit from Bitcoin's recent surge in value. On Twitter, Bukele stated, "I told you so." This follows criticism of the president for incorporating Bitcoin so deeply into El Salvador's economy. Starting in 2021, El Salvador took the lead in this regard by legalizing Bitcoin and progressively accumulating BTC for its own reserve. Now, as the asset soars to $100,000, President Bukele is celebrating his success.
A bill that would authorize a national Bitcoin reserve has been submitted by the Brazilian government. The proposed law, which was filed on November 25, states that 5% of Brazil's foreign reserves would be held in the Sovereign Strategic Reserve of Bitcoins (RESBit). Its goal is to diversify the assets held by the Brazilian Treasury. In the proposed bill, Federal Deputy Eros Biondini stated that adding Bitcoin to the Treasury "will reduce Brazil's exposure to exchange rate fluctuations and geopolitical risks, increasing economic resilience." The plan calls for the Ministry of Finance and Brazil's Central Bank to work together to maintain the Bitcoin reserve. The money would be used to support Drex, Brazil's CBDC. The bill said that the Bitcoin will be kept in cold wallets.
Slawomir Mentzen, the Polish presidential candidate, has pushed for the establishment of a strategic Bitcoin reserve and the enactment of legislation and regulations that are favorable to cryptocurrency in Poland. In a recent post on X (previously known as Twitter), Mentzen stated, “If I become the President of Poland, our country will become a cryptocurrency haven, with very friendly regulations, low taxes, and a supportive approach from banks and regulators.”
This month, a number of Russian lawmakers proposed establishing a "stash of" cryptocurrency in "the state Treasury," while Anatoly Aksakov, the chairman of the Russian State Duma Committee, objected. This fall, they were also successful in enacting laws that made cryptocurrency mining and the usage of digital assets for cross-border payments legal. Russia's recent shift in position on cryptocurrency raises the possibility that the Eastern European nation may reexamine the idea of a strategic Bitcoin reserve, which at least one of its top officials has previously endorsed.
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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