While its popularity has been on the rise in recent years, Bitcoin remains a subject about which the majority of people still have little knowledge. Uzmancoin.com, since 2017, has been striving to provide its readers with the fastest and most accurate Bitcoin news and content to guide them.
Bitcoin, which was introduced to the market in 2009, is considered by some as a currency, by others as digital gold, and by others as an investment or speculative asset after approximately 11 years. As a highly volatile asset, Bitcoin can serve different purposes for everyone and continues to become more widespread with each passing day.
The most important feature and value proposition of the cryptocurrency, launched in 2009 by the mysterious creator Satoshi Nakamoto, is its decentralized nature. This means that the leading cryptocurrency in terms of market value is not subject to any authority. Bitcoin derives its power from this characteristic. Its production is generally carried out today with specialized hardware known as ASICs, and the supply of Bitcoin is limited to 21 million. Bitcoin can be bought and sold through cryptocurrency exchanges or ATMs.
While its popularity has been on the rise in recent years, Bitcoin remains a subject about which the majority of people still have little knowledge. Uzmancoin.com, since 2017, has been striving to provide its readers with the fastest and most accurate Bitcoin news and content to guide them.
Bitcoin, which was introduced to the market in 2009, is considered by some as a currency, by others as digital gold, and by others as an investment or speculative asset after approximately 11 years. As a highly volatile asset, Bitcoin can serve different purposes for everyone and continues to become more widespread with each passing day.
The most important feature and value proposition of the cryptocurrency, launched in 2009 by the mysterious creator Satoshi Nakamoto, is its decentralized nature. This means that the leading cryptocurrency in terms of market value is not subject to any authority. Bitcoin derives its power from this characteristic. Its production is generally carried out today with specialized hardware known as ASICs, and the supply of Bitcoin is limited to 21 million. Bitcoin can be bought and sold through cryptocurrency exchanges or ATMs.
American analyst Benjamin Cowen said in his latest publication that he thinks the rally in Bitcoin dominance has come to an end. Stating that there has been a very sharp upward momentum for 3 years, Cowen said, “Whether Bitcoin dominance goes up or down, it will go up. So, if Bitcoin goes up on its USD pair Bitcoin dominance will go higher. If Bitcoin goes down on USD pair, Bitcoin dominance will go higher.” he said.
Morgan Stanley, one of the largest banks in the US, announced that it has a $190 million Bitcoin spot ETF under its management. While the bank holds a large proportion of BlackRock ETF, there is only $1.5 million ARK Invest and $140 thousand Grayscale fund…
The US state of Wisconsin pension fund, which officially announced that it bought the Bitcoin spot ETF in May, added to the BlackRock fund, while completely selling the Grayscale fund it held.
Inflation data for July in the US came within expectations, causing Bitcoin to drop. The largest cryptocurrency traded above $61 thousand before the data fell by about $2500.
Coinbase, the largest cryptocurrency exchange in the US, will launch a coin called ‘cbBTC’, which will be an alternative to ‘wrapped Bitcoin’. The new product will take place on Coinbase’s layer 2 network Base.
It has been revealed that Goldman Sachs, one of the largest investment banks in the US and the world, has a $419 million Bitcoin spot ETF. BlackRock has the largest share in these ETFs, which the bank manages on behalf of its customers.
Arthur Hayes, one of the names closely followed by the crypto world, stated that Bitcoin should exceed $70,000 and Ether should exceed $4,000 for the bull season. Hayes also claimed that there will be a big bull season after the US elections, especially in 2025.
The Donald Trump-Elon Musk broadcast, which was eagerly awaited in the world, especially in the USA, took place on X at around 4 am this morning. The fact that not a single word Bitcoin / crypto was spoken in the nearly 2-hour live broadcast, where mostly US elections were discussed, created disappointment in the crypto world.
In investments in crypto funds, Bitcoin is by far the superiority in general, while last week’s figures show that there was a rush to Ether. A net $176 million was invested in the funds, where Bitcoin funds received $13 million and Ether funds received $155 million.
The institutional purchases, one of the biggest factors in the return of Bitcoin, which fell to $49,000 last week, stopped in the last 2 days, causing Bitcoin to fall below $60,000.