Advancecryptoacademy

Bitcoin's price today topped out at just over $47,000, a new all-time high for the world's largest cryptocurrency. Its market cap is currently at around $855 billionabout $40 billion more than the value of all shares in Tesla. Speaking of Tesla, the electric car maker played an outsized role in producing today's Bitcoin price surge. In early morning US trading, Bitcoin was selling for around $39,000, about $3,000 below its previous all-time high. Then came the news that Tesl...a had bought $1.5 billion in Bitcoin. Within an hour, the price had moved $4,000, according to data from CoinMarketCap. After plateauing for a few hours, it continued upward, hitting never-before-seen barriers of $44,000, $45,000, $46,000, and (briefly) $47,000. Crypto Execs Giddy Over Elon Musk’s $1.5 Billion Bitcoin Spree Word got out today that Tesla, the car company run by Elon Musk, the crypto community’s spiritual king and previously absent father, has invested $1.5 billion in Bitcoin. Moments after the new... That means that Tesla's holdings in BTC increased by several hundred million in under 24 hoursnot a bad return. It also means that a price point near $50,000seemingly implausible a few months agois within reach. Tesla isn't the first company to put Bitcoin on its books. MicroStrategy, a business intelligence firm led by BTC proselytizer Michael Saylor, has spent $1.15 billion to buy Bitcoin, even selling securitized debt to purchase more of the digital asset. As of today, its 71,079 BTC are worth about $3.2 billion. MicroStrategy's aggressive strategy has been credited with helping to propel the 2020-21 Bitcoin bull run, clearing a path for other companies. Square, the payments firm run by Twitter CEO Jack Dorsey, for instance, purchased 4,709 Bitcoin for $50 million in early October when the coin cost roughly $10,600. The price of Bitcoin has more than quadrupled since then.

Tesla disclosed that it has acquired $1.5 billion in bitcoin, the popular cryptocurrency. Moreover, the company noted that it may also accept bitcoin in the future as a form of payment for its cars, though it did allow that there is some regulatory uncertainty around that effort. As the news broke, the price of bitcoin instantly rose by around 9% to more than $44,000 per coin. Tesla had previously telegraphed that it had an interest in the cryptocurrency, however to purchase ...such a large block of the coin is notable. In its filing, Tesla writes that earlier this year it updated [its] investment policy to provide [it] with more flexibility to further diversify and maximize returns on [its] cash that is not required to maintain adequate operating liquidity, adding that it has the option of putting cash into certain alternative reserve assets that include digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future. Under that banner, the firm has invested an aggregate $1.50 billion in bitcoin, going on to say that the well-known electric car company may acquire and hold digital assets from time to time or long-term. Tesla CEO Elon Musk has made waves in recent days by pumping a silly cryptocurrency joke called Dogecoin; this is something more material. Tesla is selecting bitcoin as the cryptocurrency of its choice, helping to further cement the blockchain as the world’s best known. And that it may accept bitcoin-denominated transactions in the future could help bitcoin retain both value and exchange volume, though we probably repeat ourselves. It’s worth noting that Musk himself has also personally sent bitcoin prices higher in the past using his social presence, including by changing his bio to just the single word, before its price faded back after he removed it earlier this month.

Grayscale has bought 104,990 eth this week since Tuesday, bringing their total holdings to three million eth, worth $5 billion. In just the past four days they’ve bought $177 million worth of eth, an apparent acceleration as in December they were buying about $100 million eth a week. They’ve already doubled that, and a week as measured by Grayscale has still a few days to go until Tuesday.... Therefore we may see a considerable increase, but that was to be expected due to pent up demand. Grayscale temporarily suspended new customers prior to Christmas, opening them up again just this month. The same happened for bitcoin and there on the first week of opening we saw $1 billion purchased, but in the second week it went down to $255 million. We’ll find out on Tuesday what’s happened since, but interestingly eth’s weekly volumes have already doubled while for bitcoin at this stage it was still at about the $500 million it was handling in December. So suggesting there is maybe more demand for eth proportionally speaking, with demand from sophisticated and usually rich investors clearly increasing as Grayscale resumes normal operations for accredited investors.

After a limited buy/sell/hold crypto trading launch that "exceeded expectations," PayPal CEO Dan Schulman said on the company's Q4 earnings call today that the payments giant is ready to double down on cryptocurrencies. We also saw an exceptional response from our crypto launch, said PayPal CEO Dan Schulman. [...] The volume of crypto traded on our platform greatly exceeded our expectations. Schulman said that crypto would be accepted as a funding source when [users] sh...op at any of our 29 million merchants late first quarter, and that 2021 will feature an extensive roadmap around crypto, blockchain and digital currencies. Schulman added that PayPal is actively working with regulators and central banks to shape the future of a post-physical cash world. We are significantly investing in our new crypto, blockchain, and digital currencies unit, he said. Analysts expected a 3.87% increase in total accounts to 375 million, as well as $266.8 billion in total payments processed, a 8% increase over Q3; the company beat both expectations with $277 billion processed and 377 million in total accounts. The company also reported $21.45 billion in revenue. The platform also announced plans for customers to use cryptocurrencies to shop at any of the 26 million merchants in its network starting in 2021, a goal reaffirmed during the firm’s Q3 2020 earnings call. At that time, PayPal execs indicated central bank digital currencies were a matter of when and how they’re done, and not if.

Litecoin, the world’s eight biggest cryptocurrency, is in the throes of introducing experimental new privacy features. This is its MimbleWimble protocol implementation, initially proposed back in November 2019, that aims to add opt-in privacy for those using the network. Today, David Burkett, the developer in charge of this integration, has provided an update on its implementation. He revealed that big progress has been made, and the initial code will be complete and ready for review on March 15. There are still a ton of ways we can (and will) continue to improve the MWEB code, in particular around syncing, but most of what remains is not required for initial launchI will be submitting the code for review on March 15th, tweeted Burkett.