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.
An interesting press conference was held in the UK on the real identity of Satoshi Nakamoto, which has been discussed a lot recently. An economist named Stephen Mollah stated that he was the ‘real Satoshi’ at a press conference in London. Mollah stated that he would have made this statement earlier but ‘someone stopped him’ and the documents he showed did not attract the attention of a small number of journalists.
Analysts at JPMorgan, one of the world’s largest investment banks, stated in a client analysis published yesterday that a small group of investors in the world are currently turning to Bitcoin and gold, and a possible Trump victory in the US could further increase this demand.
BlackRock, the world’s largest asset management company, continues to buy BTC in response to demand for the IBIT ETF. The company also bought $630 million worth of Bitcoin yesterday. With the 8805 BTC purchased, the value of Bitcoins in the company’s possession exceeded $30 billion.
Bhutan, the small country of Asia known for Bitcoin mining, sold $66 million worth of Bitcoin. Sales were made through the Binance exchange.
One of Donald Trump’s biggest supporters, businessman Howard Lutnick, said he has hundreds of millions of dollars worth of Bitcoin and that this figure will exceed a billion dollars next year. As Lutinck has said many times before, he also said that he thinks Bitcoin is a commodity, not money.
Matt Hougan, a manager at the US asset management company Bitwise, drew attention to Bitcoin’s store of value feature in his evaluation from his X account. Hougan, who stated that the store of value market is growing every day, said that if Bitcoin grows in parallel, first $400,000 and then 7-digit figures could be seen.
Bitcoin’s rise above $70,000 again has also increased whale movements. A whale that bought 2000 BTC in the last 2 weeks bought 600 more BTC tonight. The total purchase value has reached $200 million.
While Bitcoin was one step closer to its record in March yesterday, US ETF analyst Eric Balchunas said he expects further rises and inflows to ETFs this week. Balchunas said, “In the event of a FOMO, there are serious increases in ETF volumes. I expect more investment in Bitcoin ETFs this week,” he said.
Cryptocurrency funds closed last week with a net investment of $900 million. Bitcoin was again the fund with the most investment, while Ether had outflows. Solana saw the second-largest net inflow of the year, while this year’s total net investment almost tripled that of all of 2021.
BitMEX analysts have published an analysis of MicroStrategy, a company whose stock price broke a 25-year record yesterday. The analysts claimed that with its current debt structure, the company wouldn’t have to sell its BTC holdings. However, the report said, “Cryptocurrencies are volatile and anything can happen at any time.”