The world of bitcoin (BTC) never stands still. What has happened in the last week?
Inflation in the Netherlands is still high: +10.2%
It is a repetition of movements every month, but inflation in the Netherlands remains at a very high level. In May, inflation will be 10.2% higher than in May last year, the Central Bureau of Statistics (CBS) reported today based on a rough estimate. A more accurate figure follows on June 9, according to statistics.
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Hardline European Union: Bitcoin companies lose license after violating money laundering rules
Crypto exchanges can lose their license when they break the rules of money laundering. That is the opinion of the EU’s financial supervision. The advice comes at an uncertain time as legislators are finalizing the Markets in Crypto Assets Regulation (MiCA). A landmark European law to regulate cryptocurrencies such as bitcoin. It is a magnificent comprehensive framework for regulating both the assets and the companies behind them.
New York is chasing new bitcoin miners away with tight policies
The New York Senate has passed a bill requiring some bitcoin miners to stop mining almost immediately. This is a ban on proof-of-work with non-renewable energy sources.
The White House is targeting bitcoin miners in America, Bloomberg says
Joe Biden’s administration is preparing to crack down on bitcoin miners. US politicians say they want to limit the energy consumption of bitcoin. This is specifically about the miners’ CO2 emissions.
Miners must sell bitcoin to pay bills
Falling prices mean that the profitability of miners is falling. As a result, they are starting to send their bitcoin to stock exchanges to sell on the open market.
Large insurance companies are discovering bitcoin
Investment bank Goldman Sachs has conducted a survey among large insurance companies. For the first time, people were also asked about investing in bitcoin and other cryptocurrencies. A small portion have invested in cryptocurrencies or are seriously considering it.
CEO Fidelity shares ‘revised’ version of Bitcoin’s Stock-to-Flow model
The experienced bitcoiner will have noticed: bitcoin is far below the famous (or infamous) stock-to-flow model. The ‘prediction’ that bitcoin would be at $ 100,000 by the end of 2021 has failed and the model appears to be invalid. Jurrien Timmer, director at Fidelity, takes up the model again. He acknowledges that it has fallen short, but that there is also an interesting thought behind it.
Analyst Jason Pizzino predicts a 60 percent increase in the bitcoin price
Popular trader and analyst Jason Pizzino is hoping for a bigger rally for bitcoin if the digital currency can sustain momentum. While warning that bitcoin “has mountains to move”, he tells his 267,000 YouTube subscribers that bitcoin could rise 64 percent from its current price level if certain critical obstacles are overcome.
Bitcoin is the biggest bubble at the moment, according to Deutsche Bank’s study
A study by Deutsche Bank shows that the majority of investors still believe that bitcoin is an “extreme bubble”. More than half of the respondents gave cryptocurrency a rating of 8 to 10.
Bitcoin Focus: Smart parties know better
There is quite a difference between people shouting on Twitter and what real experts think about the energy consumption of bitcoin. You can read how it works in this free edition of Bitcoin Focus.
You can also read about: ‘State of Bitcoin’ according to Block, the development in Panama and about Robosats, a way to buy bitcoin without a central trading platform.
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