Bitcoin trial: Defendant wins dispute over $50B in Bitcoin
Craig Wright, a computer scientist who claims to be the inventor of Bitcoin, prevailed in a civil trial verdict Monday against the family of a deceased business partner that claimed it was owed half of a cryptocurrency fortune worth tens of billions.
Canton child, 6 men part of international group using bribes, phone hacking to steal millions in Bitcoin
A juvenile in Canton Township and six other men have been identified as members of โThe Community,โ an international group that hacks into peopleโs cellphones -- often bribing or tricking mobile phone companies -- to steal millions of dollars in Bitcoin and other cryptocurrency, officials said.
El Salvador president wants Bitcoin as legal tender
El Salvador President Nayib Bukele has announced in a recorded message played at a Bitcoin conference in Miami that next week he will send proposed legislation to the countryโs congress that would make the cryptocurrency legal tender in the Central American nation.
Fed's Powell: Public should understand risks of Bitcoin
Powell said Monday, March 22, 2021, that the U.S. public needs to understand the risks behind Bitcoin and other crypto currencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. (AP Photo/Susan Walsh, Pool, File)WASHINGTON โ Federal Reserve Chair Jerome Powell said Monday that the U.S. public needs to understand the risks behind Bitcoin and other cryptocurrencies, even as the central bank itself is studying the potential costs and benefits of a digital dollar. โTheyโre highly volatile, see Bitcoin, and therefore not really useful as a store of value,โ Powell said in remarks to a virtual summit hosted by the Bank for International Settlements. There is also the risk that a digital currency could be held by individuals electronically and could therefore bypass banks. โPrivate stable coins are not going to be an appropriate substitute for a sound monetary system based in central bank money.โ
Cost of a single Bitcoin exceeds $50,000 for first time
โ The seemingly unstoppable rise of Bitcoin continued Tuesday with the cost of a single unit of the digital currency rising above $50,000 for the first time. Bitcoin is rallying as more companies signal the digital currency could eventually gain widespread acceptance as a means of payment. Some businesses also accept bitcoin, but its popularity has stalled out in recent years. Overstock.com appears to accept Bitcoin for most listings on its website, including cameras, vacuums and clothes. When this bubble bursts and at what price Bitcoin settles at is anyoneโs guess,โ Reiners said.
Bitcoin, seemingly omnipresent, crosses the $50,000 mark
The Bitcoin logo appears on the display screen of a crypto currency ATM at the Smoker's Choice store, Tuesday, Feb. 9, 2021, in Salem, N.H. The price of Bitcoin has soared over the past months. โ After a wild week in which Bitcoin soared to new heights, Bitcoin crossed the $50,000 mark early Tuesday. Bitcoin rallied throughout the as more companies signaled the volatile digital currency could eventually gain widespread acceptance as a means of payment for goods and services. Bitcoin has been mostly seen as a store of value, like gold, with very few places to spend it.
Tesla buys $1.5B in Bitcoin, will accept as payment soon
Tesla says it has invested more than $1 billion in Bitcoin and will accept the digital currency as payment for its electric vehicles. Electric automaker Tesla said Monday that it has invested around $1.5 billion in Bitcoin and it plans to begin accepting the digital currency as payment for its high-end vehicles soon. The price of Bitcoin soared 15.4% to around $44,500 Monday in reaction to Tesla's announcement, according to CoinBase. Bitcoin has drawn enthusiasts for its scarcity and security, but the volatile digital currency still is not widely used to pay for goods and services. It's mostly been a store of value, like gold, with some limited merchants like Overstock accepting bitcoin for payment.
Bitcoin crosses $40K mark, doubling in less than a month
Bitcoin has crossed the $40,000 mark, extending on a huge rally that started three months ago, Thursday, Jan. 7, 2021. Now only a few days into 2021, the price of bitcoin has crossed $40,000. Nothing's new with the digital currency in the month since it crossed $20,000 โ there's been no major change in how it can be used. The digital currency made its big Wall Street debut in December 2017, when the major futures exchanges rolled out bitcoin futures. The currency's value plunged sharply in 2018, and by December of that year Bitcoin was worth less than $4,000 a coin.
Money Monday: New phone scam warning
Phone scammers are targeting seniors, threatening to shut off their gas or power unless paid, often demanding payments in gift cards or Bitcoin. People are advised to use caution as these scammers are using public utility companies as their caller ID. Remember, companies do not call customers demanding payment and do not accept payments in the form of gift cards or Bitcoin. For more information from the state of Michigan, go here. Watch above for more information.
Bitcoin falls over 11%, tumbling below $10,000 after Libra hearing
Copyright 2019 CNN(CNN) - Bitcoin investors are concerned that lawmakers' pressure on Facebook's Libra could ripple throughout the cryptocurrency market. The price of Bitcoin had fallen more than 11%, to around $9,590, by the end of a Senate Banking Committee hearing on Libra Tuesday morning. Now, lawmakers in the United States are calling for increased or clarified regulations for the cryptocurrency market as a whole. "That's going to help the United States compete in the blockchain sector." Bitcoin's price may continue to falter this week as Libra faces another hearing before the House Financial Services Committee on Wednesday.
Can You Survive Only on Cryptocurrency?
With news that Facebook is joining the cryptocurrency game, the question is: Can you survive on it? Cryptocurrency, such as Bitcoin or Ethereum, is a digital currency that uses encryption to make transactions secure. Luke Mones, the host of Inside Edition's digital show, The Breakdown, attempted to only use cryptocurrency in New York City for 48 hours to see if it could be done. One business that did take cryptocurrency was Midoma, a salon in Midtown. Why Leaving Money to Your Pets Isn't CrazyThe Breakdown: What Happened to the Venomous Sand Spider Stolen From Philadelphia's Insectarium?
Bitcoin price soars above $6,300
Bitcoin has soared to a new record high on Tuesday, pushing past $6,300. As of 10:00 a.m., ET, Bitcoin price was $6,348 - up $194 just today. Bitcoin is a digital currency that is not tied to a bank or government and allows users to spend money anonymously. The coins are created by users who โmineโ them by lending computing power to verifying other usersโ transactions. But in September, New York state regulators approved their first license for a company dealing in bitcoin.