..

Bitcoin Goes Mainstream With Jay Z and Dorsey

Written by:
Aaron Goldstein
Published on:
Feb/12/2021

Hip Hop artist Jay Z and Twitter CEO Jack Dorsey have joined forces to develop a bitcoin development fund.  It is a sign that the anonymous digital currency is going mainstream.  In the world of online gambling where better than 50 percent of the global market features some degree of restrictive entry, bitcoin and other cryptocurrencies represent better than 80 percent of all transactions.

Dorsey tweeted the news Friday, writing the focus would be on Africa and India. He promised the fund will have "zero direction" from himself and Jay Z and that the partners are searching for three board members. Dorsey and Jay Z are investing 500 bitcoin into the project, currently worth roughly $23 million.

The most valuable car company on the stock market, Tesla (TSLA), announced on Monday that it is holding some of its cash in bitcoin and will soon accept cryptocurrency as payment.  But a company that prides itself on accelerating the world's transition to sustainable energy, Tesla and its founder, Elon Musk, came under fire following the bitcoin news.  Bitcoin consumes more electricity than Argentina, according to a report by the BBC.  "Mining" for the cryptocurrency is power-hungry, involving heavy computer calculations to verify transactions.

CoinGeek historian Kurt Wuckert Jr. offered, “Elon has BTC. And if he wants he can spend it one day just as long as the rest of the planet isn’t also trying to broadcast more than 6 megabytes per hour at the same time. Then he can’t spend it, because that’s just how BTC works now.”

- Aaron Goldstein, Gambling911.com

Business/Financial News

Cathie Wood Backing Sends Bitcoin Back Above $50K

Cathie Wood Backing Sends Bitcoin Back Above $50K

Ark Investment boss Cathie Wood told Bloomberg Tuesday evening she remains "very positive on bitcoin," and is "very happy to see a healthy correction here."  This may have helped push the cryptocurrency price above the $51,000 mark overnight.  But there are other factors perhaps.

Craig Wright Begins Landmark Legal Action Against Bitcoin Developers, Others

Craig Wright Begins Landmark Legal Action Against Bitcoin Developers, Others

Dr. Craig Wright, an Australian computer scientist who claims to be the inventor of bitcoin, is now suing the developers of BTC, BCH, BCH ABC and BSV over 111,000 stolen Bitcoin, according to an announcement by ONTIER.

Bitcoin and Ethereum Prices 'Seem High,' Says Musk

Bitcoin and Ethereum Prices 'Seem High,' Says Musk

Billionaire CEO Elon Musk said on Saturday the price of bitcoin and ethereum seemed high, at a time when the cryptocurrencies have hit record highs, with bitcoin crossing the $1 trillion market-capitalization threshold.

Bitcoin Flirting WIth $54K: Hits $1 Trillion Market Cap

Bitcoin Flirting WIth $56K: Hits $1 Trillion Market Cap

The price of Bitcoin continued to rise Friday morning, peaking around the $57000 mark Saturday before dipping slightly. The cryptocurrency is currently used for more than 80% of transactions with online gambling sites operating in restrictive markets.

Defendant in Craig Wright Case: "Crazy Amount of Evidence He's Satoshi"

The latest hearing of the Wright v McCormack case took place this week, with the surprise return of Peter McCormack’s legal team for the pre-trial hearing.

Syndicate