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May 01, 2023Bhutan Allocates 5% of its GDP to Bitcoin Mining
Nestled in the majesty of the Himalayas, Bhutan is a charming nation that utilizes its abundant hydroelectric power, accounting for 30% of its GDP, to provide electricity to nearly all of its 800,000 residents. Interestingly, it has also invested 5% of its GDP in purchasing bitcoin (BTC) mining equipment.
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April 28, 2023Bitcoin's Recovery Drives Cryptocurrency Surge in Q1 2023
Bitcoin has experienced a significant surge, climbing from $16,000 at the start of 2023 to reach a new yearly peak of $30,000. This upswing could be a sign that the crypto winter has come to a close. The Q1 2023 report from crypto exchanges indicates a marked improvement in the market compared to the previous year's crypto winter, which resulted in token prices plummeting and major exchanges collapsing.
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April 28, 2023Block, Led by Jack Dorsey, Acquires Bitcoin Mining Chips as Intel Halts Production
Block, the fintech-payments company founded by Jack Dorsey, has purchased a significant number of bitcoin mining chips from Intel. The acquisition will accelerate Block's plans to enter the mining hardware market, coinciding with Intel's discontinuation of production. This purchase allows Block to focus on developing its cutting-edge 3-nanometer chips and bring mining machines to the market.
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April 24, 2023Standard Chartered Bank Predicts Bitcoin Could Reach $100,000 by the End of the Year
Standard Chartered Bank's research report declares that the crypto winter has ended and the upcoming bitcoin halving event will be a positive trigger for its price. The report highlights that the world's largest cryptocurrency, BTC, could potentially reach $100,000 by the end of this year.
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April 21, 2023Bitcoin's Steep Drop from $31,000
The market is in shock after Bitcoin's sharp drop from its peak of $31,000. The sudden downturn has raised concerns about the cryptocurrency's future as a viable investment, prompting experts to analyze the contributing factors.
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April 21, 2023Record high Bitcoin mining difficulty showcases network's robustness
BTC.com reports that the mining difficulty of Bitcoin has surged to an unprecedented level of 48.7T, following a 1.72% growth, showcasing the network's robustness and perseverance.
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April 18, 2023Defending BTC Mining: Michael Saylor Responds to Criticism
Michael Saylor, one of the co-founders of MicroStrategy, stated that bitcoin miners lack of contribution to pollution could lead to significant cost savings for American households in terms of monthly energy expenses.
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April 13, 2023Why Billionaire Warren Buffett Considers Bitcoin a 'Gambling Token' with No Intrinsic Value
Warren Buffett argued that Bitcoin lacks intrinsic value and is nothing more than a gambling instrument. In a recent interview on CNBCs Squawk Box, the CEO and chairman of Berkshire Hathaway referred to Bitcoin as a "gambling token."
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April 12, 2023Bitcoin Stabilizes Around $30K as US Inflation Continues to Decline
Bitcoin (BTC) prices are still hovering around the $30,000 level and showing no significant movements several hours after the United States Bureau of Labor Statistics (BLS) published the latest data for the Consumer Price Index (CPI) in March 2023.
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April 11, 2023JPMorgan: US Banking Crisis Validates the Crypto Ecosystem
According to a research report by JPMorgan, bitcoin and gold have both experienced a surge in value as they are considered safe havens in the event of a catastrophic situation.