[ad_1] Digital assets firm Galaxy Digital has granted a multimillion-dollar loan to Yat Siu, the co-founder of Animoca Brands, using a unique collateral combination: a tokenized 1708 Stradivarius violin and its corresponding non-fungible token. Valued at over $9 million, the violin boasts a storied history, including ownership by Russian Empress Catherine the Great. This deal could set a precedent for the tokenization of physical assets, potentially revolutionizing collateralization and opening new investment opportunities for high-value items. Galaxy Digital’s decision to tokenize the Stradivarius violin, crafted by the esteemed Stradivari family, merges the art world with blockchain technology. The physical violin…
Author: dfrancis36
[ad_1] The U.S. Energy Information Administration (EIA) estimates Bitcoin mining uses about 170 TWh of electricity per year, or about 0.6% to 2.3% of annual American electricity consumption. The aggregate market cap of 14 publicly traded U.S. mining companies totals about $20 billion, according to an April report by JPMorgan Chase.As the Bitcoin mining industry has grown, so too has its reputation. And that reputation is largely negative. Discussions with three different Bitcoin mining executives through more light about their operations and the reality of Bitcoin mining.Chronos EnergyChronos Energy is an off-grid Bitcoin mining company that utilises stranded energy sources.…
[ad_1] A year following its proposal, a new project revealed today is committed to bringing the Ark concept into reality. Ark Labs has announced it is developing the Bitcoin layer-two network and hopes to capitalize on the growing demand for scalable, low-cost Bitcoin payment solutions.Speaking with Bitcoin Magazine, Marco Argentieri, CEO of Ark Labs, shared his perspective on the evolution of the protocol since its initial release. “After months of prototyping and putting together proofs-of-concept, we believe Ark is ready to enter the next stage of its development and we are excited to share this opportunity with the industry”. Diagram…
[ad_1] Whether you are new to crypto or have been in this space for a while it’s always worthwhile to spend a little time researching different ways you can grow your cryptocurrency assets. Here are 10 ways to start and grow your cryptocurrency holdings:Buying and Holding (Hodling)This is the most straightforward and the most popular method. It is simply buying a cryptocurrency like Bitcoin or Ethereum and then holding on to it with the expectation that the value will increase over time.This method reduces the risk of making poor decisions based on short-term market fluctuations and can lead to substantial…
[ad_1] Venture capitalist and billionaire investor, Chamath Palihapitiya has predicted that Bitcoin could witness an unprecedented price increase to $500,000. This ambitious forecast hinges on the potential for a bull run following Bitcoin’s fourth halving cycle, which occurred on April 20 2024. Bitcoin To Surge To $500,000 Palihapitiya has entered a notable discussion regarding the impact of historical halving cycles on Bitcoin’s value. The billionaire investor shared a price analysis illustrating Bitcoin’s performance and trend patterns following each halving event. Related Reading According to Palihapitiya, historically, Bitcoin has reached new all-time highs after each halving cycle. He highlighted a correlation…
[ad_1] The following is an excerpt on Bitcoin Pizza Day from “Fiat Ruins Everything” by Jimmy Song. Visit the Bitcoin Magazine Store to order a print, digital or audio copy of the book. Pizza Day is often viewed with a sense of regret.The well-known story goes like this: many years ago, Laszlo Hanyecz bought two Papa John’s pizzas, and in return, some fortunate person received 10,000 BTC.236 This tale resembles that of Peter Minuit purchasing Manhattan Island for a mere $24. It’s hard to believe such a transaction took place, considering the current value.The story has several intriguing aspects. It…
[ad_1] An on-chain analyst and trader says crypto exchanges have been witnessing massive Ethereum outflows since the listing approval of spot ETH exchange-traded funds. Ali Martinez tells his 63,500 followers on the social media platform X that market participants have taken out 777,000 ETH worth $3 billion from crypto exchanges since the U.S. Securities and Exchange Commission (SEC) green-lighted spot ETH ETFs last month. Source: Ali Martinez/X At time of writing, Ethereum is trading at $3,776, a fractional decrease in the past day. Turning to fellow layer-1 protocol Toncoin (TON), the analyst says deep-pocketed investors have been busy moving the…
[ad_1] In a technical analysis, renowned crypto analyst Gert van Lagen presented an extremely bearish outlook for Solana (SOL), suggesting that its price is poised for a substantial downside move. Van Lagen’s analysis is underpinned by the widely acclaimed Elliott Wave Theory, a methodology that seeks to identify recurring patterns and cycles in market price movements. Why The Solana Price Could Crash At the core of Van Lagen’s analysis lies a dissection of Solana’s price action over the past few years. According to his assessment, the year 2021 marked the culmination of a clean Elliott Wave trend for Solana, signaling…
[ad_1] On the surface, institutional adoption of digital assets is thriving. The fact that multiple major firms like HSBC and BlackRock are beginning to offer tokenized products is a testament. One recent projection even suggested that by 2030 the tokenized asset market could go as high as $16.1 trillion. Institutional participation has long been viewed as a necessary step for a larger mainstream adoption of digital assets, so the market is excited to welcome these new products. While this all sounds overwhelmingly positive, there is unfortunately still a significant hurdle that will need to be addressed before we see any…
[ad_1] Thailand has approved launching its first spot Bitcoin exchange-traded fund (ETF), joining a growing list of countries embracing regulated Bitcoin investment vehicles.BREAKING: 🇹🇭 Thailand SEC approves the first spot #Bitcoin ETF. pic.twitter.com/ju1q83JvVP— Bitcoin Magazine (@BitcoinMagazine) June 4, 2024 The Thai Securities and Exchange Commission (SEC) endorsed asset manager One Asset Management (ONEAM) to introduce a Bitcoin ETF, according to the Bangkok Post. The ONE Bitcoin ETF Fund is scheduled to be distributed between May 31 and June 6Under the Thai SEC’s rules, the ETF will be limited to wealthy and institutional investors. This follows the regulator amending local guidelines…