Bitcoin recently exceeded the $23,000 mark – an all-time high – which has set the global investment community buzzing. Ethereum, the world’s second largest cryptocurrency by market capitalization,
World shares dipped on Friday as investors awaited progress towards more US fiscal stimulus, while the dollar was set for a weekly loss and cryptocurrency Bitcoin hit a record high.
Bitcoin dropped 1.77% to $50,269.9 on Saturday, losing $906.75 from its previous close. Bitcoin, the world’s biggest and best-known cryptocurrency, is down 22.5% from the year’s high of $64,895.22 on April 14.
A global chip shortage is choking the production of machines used to ‘mine’ bitcoin, a sector dominated by China, sending prices of the computer equipment soaring as a surge in the cryptocurrency value boosts demand.
As digital currency exchange Coinbase prepares to list Tuesday in New York, here is the breakdown of the sector built from nothing in 12 years.
A rising number of central banks (CBs) are likely to issue their own digital currencies in the next few years, research by the Bank for International Settlements (BIS) showed, as interest in the technology heats up.
“As far as our own cryptomining operations, within the IBC Group, are concerned; we are closing down all our Bitcoin and Ethereum mining facilities across China, and moving our staff to multiple new locations globally, including UAE, Canada, US, Kazakhstan, Iceland and various S.American countries,” Khurram said.
Bitcoin recently exceeded the $23,000 mark – an all-time high – which has set the global investment community buzzing. Ethereum, the world’s second largest cryptocurrency by market capitalization, also went past $660, indicating
As at 08:33 GMT, the crypto-currency rose by 6.5% to $22,765.