Bitcoin (BTC)

Over $750 Million in Bitcoin from the 2016 Bitfinex Hack Moved Today

14/04/2021 by Idelto Editor

On Wednesday, after bitcoin prices touched a new all-time high, thousands of bitcoins from the August 2, 2016, Bitfinex hack were transferred to unknown wallets. The exact count of BTC moved from the hack is not entirely clear, but one blockchain parser shows that over 12,208 BTC from the 2016 Bitfinex breach worth $754 million today was moved to various addresses.

On August 2, 2016, the exchange Bitfinex was hacked for approximately 119,756 BTC, which is worth $7.5 billion using today’s exchange rates. That day, the price per bitcoin (BTC) slid 22% but the exchange managed to pay customers back using another token.
During the last year, a number of stolen bitcoins from the Bitfinex hack have been moved. As BTC’s price grew higher, Bitfinex hacker coins have moved more regularly.
Leveraging a blockchain parser, Btcparser.com, Bitcoin.com News discovered 11,799 BTC from the 2016 Bitfinex hack transferred at block heights 679,205 all the way until 679,214.
The number of BTC moved from the hackers’ stash today could be much larger. And there could be more movements today, as BTC from the Bitfinex 2016 hack was transferred while this report was written.

Using today’s exchange rates, the 11,799 BTC is worth more than $742 million today. These transfers of more than 30 transactions, is one of the largest moves the Bitfinex hackers have done to date. The blockchain parser Whale Alert also caught the transactions that started after 1:00 p.m. EST.
Members of the Telegram channel Goldfoundinsh*t believe “this awakening was done in purpose to dump the price a little bit. Since Coinbase has been listed and many people want to go long with it.”

“We assume the hackers may try to manipulate the price, thus it’s not an ordinary hacker,” a member of the Telegram channel Goldfoundinsh*t said.
Following the 11,799 BTC cleared between block heights 679,205 to 679,212, another 409 BTC from the Bitfinex hack moved. This brought the estimated total to 12,208 BTC worth over $754 million.
“Our Btcparser has just signed several bitcoin movements from the Bitfinex exchange hack. Just in time, I would say,” Taisia, the leader of the Goldfoundinsh*t told Bitcoin.com News. “Traditionally, such news causes a dump, and, holding in mind the current euphoria about the Coinbase direct listing on the Nasdaq, it was a great temptation to clip the wings of the ‘longs.’”
Coinbase shares (Nasdaq: COIN) are currently trading for $332 at the time of publication.

What do you think about the 12,208 bitcoin that moved from the Bitfinex hackers’ wallets to unknown wallets? Let us know what you think about this subject in the comments section below.

Popular Nightclub E11even Miami Reveals Cryptocurrency Payment Acceptance

14/04/2021 by Idelto Editor

While crypto assets have seen monumental gains this week, the popular nightclub in Florida, E11even Miami will accept bitcoin and a slew of other digital assets for merchandise, beverages, and tables. Following the pandemic, E11even Miami will be reopening on April 23 and will have crypto asset support when the nightlife establishment reconvenes services.

24-Hour Nightclub E11even Miami to Support Crypto Payments

Since 2014, E11even Miami has been a popular nightclub in the Sunshine State and well known for operating 24 hours a day and seven days a week. In recent times, Miami has become a hub for cryptocurrencies as the city’s mayor Francis Suarez is bullish about the digital asset industry. Suarez wants to dedicate “efforts to make bitcoin an acceptable currency” in the city of Miami. Moreover, Samuel Bankman-Fried’s FTX Exchange has acquired a naming-rights deal for NBA’s Miami Heat arena.

E11even Miami’s founder Dennis DeGori has seen the positivity toward crypto assets in Miami and detailed that when paying for tables, drinks, merchandise, “guests have the option of seamlessly paying with cryptocurrency.” The announcement details that E11even Miami will accept BTC, BCH, XRP, and DOGE for payments.

“With the tremendous growth & relevancy of Cryptocurrency coupled with Mayor Francis Suarez leading the charge for Miami’s tech boom, we felt it made sense to introduce Cryptocurrency as an option to our guests to pay for their night out,” DeGori said during the announcement.

The club’s founder added:

E11even is dedicated to always staying ahead of the curve, and we believe cryptocurrency is here to stay.

Crypto Acceptance: Soon to Be a ‘Nightlife Industry Norm’

The nightclub owners say that the business has “partnered with one of the largest cryptocurrency processing companies,” but doesn’t mention the partner. “Accepting crypto is attractive to the venue, and its guests as E11even continuously sees its VIP guests more involved in the Bitcoin industry,” the company said. Gino LoPinto, the operating partner of E11even Miami has noticed the trend.

“Bringing services and amenities that cater to our cutting-edge clientele is of uber importance (to us), and we’re seeing an increasing trend of clients wanting to use their Cryptocurrency as a form of payment,” LoPinto explained. “We believe nightclubs allowing Bitcoin as payment will soon become a nightlife industry norm, and we’re excited to be the ones paving the way.”

What do you think about the nightclub E11even Miami accepting crypto assets for payments? Let us know what you think about this subject in the comments section below.

Latest Episode of The Simpsons Prices Bitcoin at ‘Infinite’ as the Crypto Consolidates Above the $60K Threshold

13/04/2021 by Idelto Editor

Bulls are taking the reins of the price action in the bitcoin across the board, making a solid breakout above the $60,000 threshold, reaching new all-time highs, and it seems The Simpsons “did it again.” In a new episode broadcasted on Sunday, BTC is highlighted in a ticker news feed with the infinite sign.

Gamestop Stock Is Also Featured in the Episode

The 18th episode titled “Burger Kings” in Season 32 of the popular animated series featured bitcoin (BTC) during a news broadcast, whose ticker news feed at the bottom of the screen listed some U.S. publicly listed companies.

However, what caught the crypto community’s attention, and which was a hot topic in the Reddit subforums, is the detail of BTC priced at infinity.

Interestingly, after bitcoin’s quote, video game retailer Gamestop (GME) appeared in the scene.

Following the sarcastic style characterized by The Simpsons, the famous stock – known for being fueled a few months ago by a community of investors in Reddit – posted a trillion in gains and then immediately plummeted two million, parodying the stock’s high volatility.

The plot of the episode revolves around Mr. Burns getting into a plant-based burger business. He was about to die after eating lots of hamburgers, and thus the business idea came up to his mind.

Although the episode doesn’t talk about cryptocurrencies, it involves financial markets’ concepts, such as speculation, as Marge made her inception into speculating in shares of Burns’ brand-new company. She wanted to gain profits to gift Homer a new pair of pants.

Previous Mentions of Cryptos in The Simpsons

This is not the first time that one of the world’s famous animated sitcoms mentions cryptocurrencies in one of its episodes.

For the 13th episode of the 31st season, The Simpsons brought in Jim Parsons, best known for Sheldon Cooper in The Big Bang Theory, to explain the concept of cryptos.

As of press time, according to markets.Bitcoin.com, bitcoin is exchanging hands at $63,200, with a market capitalization that stands at $1.18 trillion.

What are your thoughts on bitcoin being mentioned in the latest episode of The Simpsons? Let us know in the comments section below.

Novogratz’s Galaxy Digital Jumps Into the Bitcoin ETF Fray

13/04/2021 by Idelto Editor

The investment company Galaxy Digital Holdings has revealed it is joining the growing list of firms looking to sponsor a bitcoin exchange-traded fund (ETF). Novogratz’s crypto firm applied with the U.S. Securities Exchange Commission (SEC) on Monday to launch a product called the “Galaxy Bitcoin ETF.”

Galaxy Digital Wants to Provide a Bitcoin ETF

Galaxy Digital Holdings (TSX: GLXY) filed a Form S-1 registration with the SEC on Monday in order to get approval for a new bitcoin ETF. The “Galaxy Bitcoin ETF” filing was submitted on April 12, 2021, and joins the seven other bitcoin ETF contenders waiting for approval from the U.S. regulator. Galaxy Digital is an investment company led by Michael Novogratz, a former executive from the macro-strategy hedge fund Fortress.

“Galaxy Bitcoin ETF is an exchange-traded fund that issues common shares of beneficial interest that trade on NYSE Arca,” The Galaxy ETF filing notes. “The trust’s investment objective is to reflect the performance of the Bloomberg Galaxy bitcoin Index, less the trust’s expenses and other liabilities. In seeking to achieve its investment objective, the trust will hold bitcoin and will value its shares daily based on the value of the Index, which is calculated based on data from bitcoin pricing sources selected by Bloomberg Index Services Limited.”

Eight Bitcoin ETF Filings Waiting for Approval

Novogratz has been a bitcoin bull for quite some time and speaks about the crypto economy on a regular basis. On April 13, when bitcoin (BTC) saw a new all-time high (ATH) at $63,769 per unit, Novogratz was quite pleased. “A fine day for my favorite song,” he tweeted. “Bitcoin Please Go To Moon Song,” Novogratz added. The Galaxy Bitcoin ETF filing notes that the sponsor does not plan to buy or sell BTC directly.

“The trust is an exchange-traded fund. Barring a liquidation or extraordinary circumstances,” the filing adds. “The trust does not intend to purchase or sell bitcoin directly, although the trust may direct the custodian to sell bitcoin to pay certain expenses. Creations and redemptions of shares will be effected in ‘in-kind’ transactions in blocks of [ ] shares based on the quantity of bitcoin attributable to each share.”

The Galaxy Bitcoin ETF registration follows the recent Kryptoin re-filing last week. Galaxy will now be the eighth BTC ETF applicant hoping for the SEC’s approval. Besides Galaxy there’s Valkyrie, Vaneck, Fidelity, NYDIG, Wisdomtree, First Trust & Skybridge, and Kryptoin.

What do you think about Galaxy Digital’s bitcoin ETF filing? Let us know what you think about this subject in the comments section below.

Bitcoin Price Taps New All-Time High, Analyst Says ‘Fertile Grounds for BTC to Take a Fresh Leg Up’

13/04/2021 by Idelto Editor

The price of bitcoin has crossed a new all-time high (ATH) on Tuesday, as the leading crypto asset has jumped to $63,275 per unit during the early morning trading sessions (EST). At the time of publication, the entire market economy with over 9,203 cryptos is valued at $2.153 trillion with $164 billion in global trade volume.

Bitcoin Price Touches New Highs

Bitcoin (BTC) has finally crossed the psychological resistance at the $60k mark and even brushed past the last all-time price high. At around 5 a.m. (EST), bitcoin’s price jumped to a new ATH reaching $63,275 per BTC. At the time of writing, BTC is just under the $63k handle and has a market valuation of around $1.177 trillion today. That’s approximately 54% of the entire $2.153 trillion crypto market economy, while ethereum (ETH) captures 11.9% on Tuesday.

Bitcoin Price Taps New All-Time High, Analyst Says 'Fertile Grounds for BTC to Take a Fresh Leg Up' — Top five crypto asset markets on April 13, 2021.

Ethereum is swapping for $2,225 per ETH and has a market valuation of around $256 billion. The forerunner today is XRP which has gained a whopping 23% during the last day and 66% over the last seven days.

XRP is swapping for $1.70 a coin and is just below binance coin (BNB) markets. BNB is exchanging hands for $573 per unit and has a market valuation of around $85 billion. BNB captures over 4% of the entire market capitalization while XRP has around 2.98% today.

In the sixth position is cardano (ADA) which is trading for $1.37 per unit and the seventh position held by polkadot (DOT) is swapping for $41. Uniswap (UNI) has now taken the eighth position and is trading for $34.79 per coin. Litecoin (LTC) and bitcoin cash (BCH) hold the ninth and tenth positions respectively. LTC in the ninth position is swapping for $268 while BCH is trading for $721 per unit.

Delta Exchange CEO: ‘Overall Sentiment Is Still Strong’

Of course, a great number of crypto enthusiasts are very positive about the prices. The CEO of Delta Exchange, Pankaj Balani, is one of those people. In a note to Bitcoin.com News, Balani said “Bitcoin has been consolidating over the last month, while altcoins have hit fresh yearly highs. This is healthy consolidation for Bitcoin given that we have already hit close to 100% YTD return on BTC and the market needed to take a pause. The interest in Alts though, suggests that overall sentiment is still strong,” the Delta Exchange CEO added.

Balani continued:

These are fertile grounds for Bitcoin to take a fresh leg up. We have some resistance around the $60,000 mark but a successful break out here can mean Bitcoin pushing to $65K and looking to challenge the $70-$75K levels. On the other hand, traders are keenly looking at $50K as a crucial level as it acted as strong support during the March Futures expiry pull back.

Bitfinex CTO: ‘The Momentum May Continue’

The CTO of Bitfinex, Paolo Ardoino shares Balani’s optimism and told Bitcoin.com News that even though we have seen some turbulence and retracement BTC still advanced. “The digital token space continues to see tremendous growth and technological advances against a backdrop of increasing institutional adoption and Wall Street’s embrace of blockchain-based businesses. As a result of the growing demand in [decentralized finance (defi)], tokens other than bitcoin are expanding their reach, with select tokens emerging as front runners due to their efficiency and utility,” Ardoino said.

Ardoino further added:

Bitcoin has surged to a new all-time high in a rally that continues to be partly fueled by institutional buyers of the new digital gold. This momentum may continue as increasing numbers of funds and corporations add bitcoin to their investment portfolios. An ongoing pandemic may also be furthering a safe haven narrative for bitcoin, particularly in emerging markets where bitcoin is gaining traction.

While BTC trades at new heights, many people are curious as to where the leading crypto asset is headed. Alex Kuptsikevich, Fxpro senior financial analyst says that the last crypto winter saw infrastructure built and it has paid off.

“At this point, we are witnessing the major players in the traditional market having a warmer attitude towards the major cryptocurrencies,” Kuptsikevich told Bitcoin.com News. “The result will be more and more integration of the asset into the traditional market, but there is still a very troubling question about the attitude of the U.S. regulator about what is happening.”

What do you think about bitcoin touching a new all-time high on Tuesday? Let us know what you think about this subject in the comments section below.