Cryptocurrency prices are trending lower Tuesday morning, extending the weakness from a day earlier. FUD could be a factor hurting sentiment after a billionaire investor said Bitcoin is only a gamble. Meanwhile, a prominent hedge fund remains bullish on the crypto market. In France, the government slashed the tax on cryptocurrencies.
Here is wrap of the main news from the cryptosphere over the past 24 hours.
Warren Buffett Says Bitcoin Is Not Investing, But A Gamble
Billionaire investor and CEO of Berkshire Hathaway Warren Buffett, said that buying Bitcoin is not investing, but just a gamble. In an interview with Yahoo Finance in Omaha, Nebraska, Buffett, who was always against cryptocurrencies, talked about his current thoughts regarding investing in bitcoin and other digital currencies. Read more…
Pantera Capital CEO Says $40 Trillion Crypto Market ‘Definitely Possible’
Cryptocurrency market can grow to $4 trillion from $400 billion now and even reaching $40 trillion is also possible, the chief of a prominent hedge fund predicted. In a decade, the crypto market could grow to $40 trillion, thanks to the fast growing number of cryptocurrencies and their wider adoption, Pantera Capital CEO Dan Morehead said in an interview on Bloomberg Television. Read more…
France Slashes Bitcoin Tax By 26%
The French government has slashed the tax on Bitcoin and other crytpocurrencies from 45 percent to 19 percent. The French State Council of taxation, the body that advises the government on legal matters and acts as the supreme court for administrative matters, declared that profits from cryptocurrency sales should be considered as capital gains of movable property. Read more…
Binance To Invest $15 Million In Bermuda
Binance Group, the operator of the world’s largest cryptocurrency exchange, has announced a $15 million investment plan in Bermuda in partnership with the government of the tiny island nation. Under a memorandum of understanding (MOU) signed by Bermuda’s Prime Minister David Burt and Binance founder and CEO Changpeng Zhao, the Binance Foundation will invest $10 million to provide university level training in blockchain technology for local residents. Read more…
Iran Develops Blockchain-based Cryptocurrency After Crypto Ban
Iran has moved fast to develop its own blockchain-based national cryptocurrency, as the Islamic Republic awaits a decision by the U.S. President Donald Trump on restoring economic sanctions. The pilot cryptocurrency was jointly developed by the Central Bank of Iran (CBI) and Iran’s Information and Communications Technology (ICT) ministry. Read more…
UNICEF Australia Taps Crypto Mining For Fundraising
UNICEF Australia is now taping cryptocurrency mining to raise funds for the refugee children in Bangladesh. People can donate to the cause by allowing the use of their computer’s processing power to mine cryptocurrency. UNICEF is using an application by Coinhive, which mines Monero. Read more…
Tutorial: Crypto Lexicon – LAMBO
Often mentioned in crypto discussion forums, LAMBO is a term used to describe the high expectations from the price of a coin. It can also imply that the investor is hoping to make a huge profit out of his crypto investment that he would able to afford a Lamborghini, which is an expensive luxury. Read more…
Current Prices
As of 10.00 am ET on Tuesday, Bitcoin was down 3.86 percent at $8,914.29 and Ethereum was lower by 5.31 percent at $647.10 on Coinbase.
by Jyotsna V
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