Canadian Bitcoin ETF adds to its holdings despite steep market correction

Demand for Bitcoin (BTC) among Canadian investors has not wavered amid the latest price correction, offering further evidence that market participants are capitalizing on heavily discounted prices.  The Purpose Bitcoin ETF, which launched in February, has now accumulated 19,692.149 BTC as of June 13, according to Bybt data. The ETF has added 284.51 BTC over the past seven days and nearly 2,000 BTC since May 15. A massive breakdown in price has not deterred Canadian investors from seeking exposure to Bitcoin. Source: Bybt. In fact, the ETF added to its…

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Bitcoin Letter To Nigeria Government

Greetings President Muhammadu Buhari, The hope of Nigeria lies within this generation. I am proudly a Nigerian descendant living in America and am a proponent of Bitcoin. I write to urge the Nigerian government to pursue economic independence and financial sovereignty by pursuing a national Bitcoin standard. Soon every nation will be faced with this decision, but those who seize the present moment proactively as we have just witnessed in El Salvador, will enjoy significant advantages globally for generations to come. It is no secret that the current global economic…

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Here’s how Bitcoin’s impending death cross could be a contrarian buy signal

Bitcoin’s (BTC) succession of sharp corrections from its all-time high at $64,900 has turned investor sentiment negative, at least for the short-term. While some analysts believe the bottom may have been hit, others are warning of a further fall due to the “Death Cross” pattern that, at the time of writing, is on the verge of completion.  For new traders, the name death cross itself brings a lot of negativity and a feeling of impending doom. This sentiment can trigger selling panics, especially if the market has already been going…

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SEC and CFTC Caution Investors About Funds Trading in Bitcoin Futures – Regulation Bitcoin News

The U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have warned investors of the risks of investing in funds with exposure to bitcoin futures. The SEC published an investor alert on funds trading in bitcoin futures Thursday. The alert comes from the SEC’s Office of Investor Education and Advocacy (OIEA) and the CFTC’s Office of Customer Education and Outreach (OCEO). They pointed out that some funds may engage in the trading of bitcoin futures contracts as a way to gain exposure to bitcoin, emphasizing that…

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A new milestone for Bitcoin, COVID hits conference, Buterin’s DOGE payday

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link. Top Stories This Week   Bill to make Bitcoin legal tender passes in El Salvador El Salvador has officially become the first country in the world to adopt Bitcoin as legal tender. A law outlining the proposals, introduced by President Nayib Bukele, passed with a “supermajority,” attracting 62 out…

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Taproot Locks In – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

Bitcoin is upgrading. Taproot, the Bitcoin protocol upgrade that makes smart contracts more private and compact, has locked in. As of just now, more than 90 percent of all blocks that will be mined in the current difficulty period have signaled support for the upgrade, which means that Bitcoin Core versions 0.21.1 and newer will start enforcing the new rules in November of this year, as will the alternative Taproot activation client. Taproot Taproot is the first Bitcoin protocol upgrade to go live since Segregated Witness activated in 2017. First…

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Wilson Chandler on NFTs and the NBA

As Wilson Chandler tells it, despite being a NBA star with a decade-plus pro career and nearly $80 million in career earnings, the 6’8 combo forward still got his start in blockchain the same way scores of enthusiasts do: trading shitcoins.  Chandler told Cointelegraph that he first heard about crypto from some “kids” he played Fortnite with in 2017. After growing fascinated by their stories of turning paltry sums into legitimate holdings, he eventually invited one out to his Chicago home for a crash-course on setting up wallets and using…

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We’ve passed peak corporation already — Michael Anderson, Framework Ventures – Cointelegraph Magazine

The pandemic has changed society forever — and in many cases, not for the better. But when historians look back in a few decades, will they see this period as a turning point in the transition from an economy dominated by corporations to a new crowdsourced model where participants are incentivized with tokens to grow a project and share in the profits? It may sound far-fetched given that mega-corporations dominate the present reality, but imagine a world in which Uber drivers and their passengers own and operate a decentralized rideshare…

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Solana (SOL) and Enzyme (MLN) rally while the wider market remains flat

Significant price corrections like the one see in May inflict widespread pain for a majority of market participants and can be a death sentence for struggling projects as token holders capitulate and dump their holdings for any price offered.  While these periods are useful to help shakeout the weak hands and weed out unnecessary projects, they also offer strong performers the opportunity to stand out from the crowd and attract the attention of eager investors looking for a safe haven during choppy markets. Two projects that have been more resilient…

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The CBN Says Nigeria Will Have a Digital Currency Before End of Year – Fintech Bitcoin News

Nigeria is likely to have its own central bank digital currency (CBDC) by the end of the year, an official with the Central Bank of Nigeria (CBN) has said. In his remarks following the bankers’ committee meeting, Rakiya Mohammed, who is the director of information technology at CBN, also revealed that this “digital currency would be accessible to all Nigerians.” Stakeholder Involvement However, according to a report which quotes the IT director, the CBN’s digital currency will be unlike privately issued cryptocurrencies such as bitcoin, which a Nigerian senator has…

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