This post covers all the major Bitcoin updates for the month of August and the first week of September. We will discuss the many bigger corporations adopting bitcoin, major exchanges listing cryptocurrencies, etc…
Pornhub accepts Bitcoin
The leading adult site is now accepting cryptocurrency payment options including Bitcoin. In addition, they also accept LiteCoin as part of their premium payment options. With PayPal blocking adult sites, this move to include Bitcoin and LiteCoin is understandable from Pornhub. Consumers feel this little update signals a larger adoption of cryptocurrencies in the adult industry.
Leading stock exchanges lists Bitcoin
Bitcoin ETP is now listed on all three DACH countries - Austria, Germany and Switzerland. It signals institutional acceptance of the digital class of assets. ETP allows you to trade on the negative BTC movements on a regulated exchange. The leading stock exchanges in these countries made ABTC and SBTC available for trading. Hence, the regulatory trading of digital assets can be predicted to increase in the coming months.
Bitcoin Price Movements
Recently Bitcoin has seen higher volatility and the price has dumped 20 to 25 percent. There are different views for the reasons, some blame BTC CME gap for the dump while some think that after a good rally a decent correction was due. After halving, most of the community is bullish about bitcoin price but then again price cannot continuously go up in a straight line. If bitcoin sustains these price levels the probability of bulls is still here and the overall trend still seems bullish.
Is Warren Buffet changing his stand on Bitcoin?
Buffet has recently reversed his stand on gold. Though the legendary investor quite strongly prefers stocks to gold, his company invests heavily in a mining firm in gold. This move came as a surprise to the entire industry including Gold bug Peter Schiff. Whether or not, the business tycoon will include bitcoin into his portfolio remains the key question.
Former Prudential CEO bats for bitcoin
George Boyce, former Prudential CEO advises wealthy investors to buy bitcoin. He further adds, ‘it’s the only asset that cannot be undermined by the government’. While serving as the CEO of another financial group, he told it as a part of investment tips to big investors. He implied to advocate investing in Bitcoin, due to liquidity issues in these pandemic times.
Sichuan Flooding cause hash rate drop
Floods in China often make it to the news. Now it has managed to concern every cryptocurrency user in the world. With many mining facilities of China concentrated in the Sichuan province, it has directly affected the hash rates. After weeks of torrential rainfalls, the resultant floods have caused at least a 20% hash rate drop for Bitcoin and Bitcoin Cash.
A DeFi token worth more than Bitcoin!???
Yes, you read it right. A DeFi token is actually worth more than a Bitcoin. Shooting up at 270% in the last five days, Yearn Finance token eclipsed Bitcoin as the highest priced cryptocurrency. It is currently trading at over $13000 per YFI. The coin allows interest in making investments on Stablecoins such as DAI, USDT and USDC.