The price of bitcoin took a major hit early Saturday, falling nearly $10,000 in roughly an hour to a temporary low of $42,000 before bouncing up to $47,000. The original cryptocurrency has fallen some $15,000 over the past 24 hours. The second-largest cryptocurrency by market capitalization, Ether, fell around $1,100 over the same time period. At the time of writing, bitcoin is trading just above the $48,000 mark.
The Republic of El Salvador has procured 150 Bitcoin (BTC) amid the biggest bear market since Bitcoin attained an all-time high of nearly $68,000 back in the first week of November.
The latest update in the controversial Indian Crypto Bill saw the Finance Minister, Nirmala Sitharaman consider the underlying technological boon that comes with the industry’s banes. While speaking at the ‘Agenda Aaj Tak‘ event in Delhi yesterday, Sitharaman noted that the crypto bill is in anvil and will soon be sent for approval to the cabinet.
The Federal Bureau of Investigation (FBI) has seized bitcoin worth more than $2.2 million tied to ransomware payments. The cryptocurrency allegedly belongs to an affiliate of Gandcrab and Revil/Sodinokibi ransomware.
The Royal United Services Institute (RUSI), the British defense and security think tank, questions whether or not non-fungible token (NFT) assets can be used for money laundering purposes. The report determines that in order to mitigate the money laundering risks a ‘know your customer’ monitoring system “needs to be implemented.”
Billionaire entrepreneur Michael Saylor is known for his bombastic metaphors and high ambitions where Bitcoin is concerned. During an episode of the What Bitcoin Did podcast, Saylor spoke to host Peter McCormack to explain why he viewed Bitcoin as a form of energy.
Nearly every segment of the crypto sector underwent explosive growth in 2021. The steady inflow of institutional funds could possibly be interpreted as a signal that the best is yet to come.