Crypto SWOT: BTCS is first company to pay dividends in bitcoin
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- Of the cryptocurrencies tracked by CoinMarketCap, the best performer for the week was Aigang (AIX), rising 3,208.68%.
- Goldman Sachs predicts Bitcoin could hit $100,000 within the next five years, writes CNN Business. Co-Head of Global Foreign Exchange says that Bitcoin’s market share will rise over time as a byproduct of broader adoption of digital assets.
- In a recent interview with CoinTelegraph, Kevin O’Leary revealed his cryptocurrency portfolio. O’Leary shared that in individual tokens and chains, he has about 33 different positions with a wide range of diversity. He also stated that his Ethereum position is larger than his Bitcoin position, writes Bloomberg.
- Of the cryptocurrencies tracked by CoinMarketCap, the worst performer for the week was Escrowed Illuvium (SILV), down 99.82%.
- Bitcoin slid sharply this week after the Federal Reserve released minutes of its December meeting, with policymakers indicating growing unease over inflation and the potential for interest rates to start rising as soon as this March, writes Bloomberg.
- Bitcoin declined to its lowest level since December’s flash crash, writes Bloomberg, after growing expectations of rising borrowing rates weigh on some of the best-performing assets of the past few years. Other cryptos tumbled this week as well, including Ether which took out its own flash-crash bottom to reach prices not seen since October 13, the article continues.
- Developers are flooding into crypto projects even during this price swoon, writes Bloomberg. In fact, the number of monthly active software developers in crypto hit an all-time high in December, despite prices retreating from record levels.
- Crypto company BTCS soared 67% on Wednesday after it announced it will pay the first-ever Bitcoin dividend, writes Markets Insider. This makes it the first Nasdaq-listed company to ever pay a Bitcoin dividend, which the company calls a “bividend.” According to the company, the move will help promote the adoption of cryptocurrency and help build its shareholder base, the article continues.
- According to a new survey from technology-powered real estate brokerage Redfin, roughly on in nine first-time homebuyers said selling cryptocurrency during the fourth quarter of 2021 helped them save for a down payment on their home.
- Kazakhstan’s government has cut internet access due to escalating protests, and the country’s Bitcoin mining operations appear to be caught in the middle, writes The Block. The situation is notable given that Kazakhstan is home to as much as 18% of the world’s Bitcoin hash rate, as estimated by Cambridge Centre.
- Bitcoin traded near the lowest levels seen since September after an earlier swoon extended its weeks-long decline from an all-time high to about 40%, writes Bloomberg. Ethereum, the second-largest crypto, dropped as much as 9% to its lowest level since September 30.
- According to CoinTelegraph, Hong Kong-based Coinsuper allegedly blocked customer’s withdrawals this week. Five clients reportedly filed police complaints after token withdrawals were apparently halted, leaving them unable to reclaim around $55,000 in cryptocurrency and fiat.
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