El Salvador makes bitcoin legal tender from Sept 27, 2021

In a development that sees Bitcoin gaining increasing traction in the financial world, El Salvador’s President Nayib Bukele announced during a national address that the country has passed a bill making bitcoin legal tender with effect from September 7 2021; use of the cryptocurrency will be optional. The country’s Congress has already approved Bukele’s proposal…

Tesla will accept bitcoins when miners use more renewable energy sources: Elon Musk

In a tweet, Elon Musk, Tesla Inc’s CEO said, the electric carmarker will accept bitcoin transactions when miners who verify transactions use more renewable energy. “When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions,” said Musk in a tweet. Following Musk’s tweet, the…

Robinhood allows customers to deposit, withdraw cryptocurrencies

In a statement, online broker Robinhood said, it intends to allow customers the ability to deposit and withdraw cryptocurrencies, including the meme-based dogecoin. Currently, Robinhood, a trading app popular with young investors, allows customers to buy, sell and hold cryptocurrencies including Bitcoin on its platform; however, it does not allow its users to withdraw their…

Clear crypto currency rules urgently required: Hester Peirce

According to a top official from the Securities and Exchange Commission (SEC), a clear cryptocurrency regulatory regime is urgently required with major companies, including Mastercard Inc, Tesla Inc, and BNY Mellon Corp embrace the digital asset class. During an interview, Hester Peirce, a Republican commissioner at the SEC said, while it may be too soon…

Cryptocurrencies extend gains following Tesla Inc’s investment in Bitcoin

On Tuesday, cryptocurrencies extended their gains with Ethereum and Bitcoin reaching record highs; the development comes in the wake of Tesla investing $1.5 billion in bitcoin. Bitcoin posted its biggest daily percentage gain in more than three years overnight following Tesla Inc’s disclosure of its investment in the bitcoin in its 2020 annual report. On…

Bitcoins surges past $30,000 as large investors bet on currency joining mainstream

In a significant development, Bitcoin extended its bull run smashing its previous record and surging over $30,000 for the very first time; investors and traders are betting that the digital currency is on its way to becoming a mainstream payment method. On Saturday, Bitcoin, the world’s most popular cryptocurrency traded as high as $33,099 with…