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.
Howard Lutnick, who attended the Bitcoin Conference at the weekend and announced that the Cantor Fitzgerald company, of which he is the chairman of the board of directors, has Bitcoin in his hands with the words ‘We have a ton of Bitcoin’, stated that he expects the Fed to cut interest rates in September, but other cuts to come in 2025. Lutnick also said that Bitcoin is a commodity, not a currency.
Bitcoin, which exceeded $70,000 at the beginning of the week, could not hold this level again and experienced a sharp decline. With the sharp decline following the Fed’s decision to leave interest rates unchanged, the largest cryptocurrency dropped to $63,500.
The GBTC fund, which Grayscale has been offering to its customers for about 10 years and turned into an ETF on January 10, fell 10% before the US markets opened. Behind this depreciation was the transfer of 10 % of the assets of those holding GBTC shares to the company’s new fund, the mini-Bitcoin fund (BTC).
Not long after Donald Trump’s statement, ‘If elected, we will not sell any of the Bitcoins controlled by the United States,’ about 30 thousand of these assets were moved to a new address. It is thought that this transaction was made for sale.
After Donald Trump’s attention-grabbing speech over the weekend, Bitcoin started Monday strong. The largest cryptocurrency managed to exceed $70,000 for the first time since 10 June.
Crypto funds closed last week in the plus, but the $245 million level was quite quiet compared to the $2.5 billion figure seen in the previous week. Bitcoin funds saw an inflow of $519 million, while Ether funds had an outflow of $285 million due to the Grayscale effect. Most of the altcoin funds also ended the week in the positive.
TRON founder Justin Sun called on the Chinese government to change its Bitcoin steps. Referring to Donald Trump’s words about Bitcoin, Sun said, ‘China also needs to enter this field and take steps.’ Sun also sent a ‘Bitcoin emoji’ message to Elon Musk.
After Donald Trump’s commitment to keep Bitcoin as a strategic reserve at the Bitcoin Conference on Saturday evening, similar voices began to rise from Hong Kong. Hong Kong Legislative Council Member Johnny Ng stated that they could take a similar step and said, ‘We should investigate including Bitcoin among strategic financial reserve assets.’
Presidential candidate Donald Trump said that if elected, he will make the US a Bitcoin superpower and that they will not sell and store the 200,000 BTC currently held by the US. ‘Bitcoin will one day probably surpass the market cap of Gold.’ Trump said, ‘Never sell your Bitcoin.’
With more than 20,000 participants, the first two days of Bitcoin 2024 were marked by the words of presidential candidate Robert F. Kennedy Jr. and Michael Saylor’s speech. The highly anticipated Donald Trump will speak today.