The price of the main cryptocurrency on the market, Bitcoin is currently trading at USD 61,005, registering a decreasing variation of -2.23% in the last 24 hours. As noted by our internal crypto online tool.
The price of Bitcoin has remained at this price despite the various concerns that have arisen in the market, as the approval of the first exchange-traded funds (ETFs) in the United States has been assimilated.
Futures-based ETFs have had a mixed reception, with opinions varying considerably on their impact on the market and the overall effect on Bitcoin’s price action.
Square is considering establishing open source Bitcoin mining
Square CEO Jack Dorsey would be considering building his own Bitcoin mining system using custom silicon as well as open source software.
“Square is considering building an open source, custom silicon-based Bitcoin mining system for individuals and businesses around the world,” said Jack Dorsey through his Twitter account.
Our team led by @jessedorogusker will start the deep technical investigation required to take on this project. We’d love your thoughts, ideas, concerns, and collaboration. Should we do this? Why or why not? We’ll update this thread as we make our decisions. And now over to Jesse.
– jack⚡️ (@jack) October 15, 2021
This project will follow a similar approach to that of the Bitcoin wallet in terms of hardware. Square began work on it earlier this summer. But, building a mining system would be considerably more complicated for the payment company than simply building a wallet.
Salvadorans sell US dollars to buy BTC
President Nayib Bukele shared a new development on Twitter based on data acquired from El Salvador’s internal wallet service Chivo. President Bukele said:
“People are inserting much more USD (to buy #BTC) than they are withdrawing from Chivo’s ATMs.”
He also urged the media to independently confirm the above information by visiting ATMs. President Bukele further stated that Chivo has reported 24,076 remittance requests “totaling USD 3,069,761.05 in one day.”
The data suggests that, the increase in USD to Bitcoin conversions within the jurisdiction reflects a shift in investor sentiment, which initially faced resistance during adoption by the general public.
Bank of Russia is now evaluating citizens’ investments in Bitcoin
Russian President Vladimir Putin pointed to a tolerance for cryptocurrencies like Bitcoin to transfer funds. The head of the central bank’s financial stability department is evaluating the amount of Bitcoin held by local investors.
Elizaveta Danilova from the Bank of Russia revealed that she is consulting with local cryptocurrency investors to estimate the investment volume of cryptocurrencies in the country.
Danilova would have answered several questions about the risks of bubbles, sanctions and crypto. In doing so, he noted that the Russians’ investment in crypto is a “potentially very significant issue” due to a lack of transparency. She added:
“We need to work both on the data and on raising public awareness of the risks of such investments, not backed by anything. We conducted a survey of market participants to obtain rough estimates of investments in cryptocurrencies.
Recall that, previously we had reported that the president of Russia, showed his position on Bitcoin and cryptocurrencies in which he did not rule out the possibility that his country would make an investment in them.
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