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Bank of Canada: Bitcoin Is "Deeply Flawed" As Payment Method - "Except for Illicit Transactions"
Bank of Canada: Bitcoin Is "Deeply Flawed" As Payment Method - "Except for Illicit Transactions"
News  •  Economy  •  Feb 10, 2021 by Thomas M

While a "digital loonie" is potentially on the horizon for Canada's central bank, Bitcoin very much is not, according to Bank of Canada's Deputy Governor Timothy Lane. In a speech delivered on February 10th, Lane addressed the concept of a central bank digital currency

Uber Won't Buy Bitcoin, But May Accept It As Payment
Uber Won't Buy Bitcoin, But May Accept It As Payment
News  •  Bitcoin  •  Feb 10, 2021 by Dariusz Z

Ridesharing market leader Uber may accept cryptocurrency payments, but does not intend to buy bitcoin with corporate money to hold in its treasury like electric vehicle manufacturer Tesla has. Uber CEO Dara Khosrowshahi said during an interview with CNBC on February 11th that the firm "quickly dismissed" the

BNY Mellon Reveals Plans to Enter the Bitcoin Space
BNY Mellon Reveals Plans to Enter the Bitcoin Space

One of the world's largest banks, Bank of New York Mellon Corporation (BNY Mellon), is entering the cryptocurrency space as a growing number of Wall Street institutions signals its interest in Bitcoin.  According to The Wall Street Journal, the firm said on Thursday that it will custody bitcoin

News  •  Bitcoin  •  Feb 11, 2021
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BNY Mellon Reveals Plans to Enter the Bitcoin Space
BNY Mellon Reveals Plans to Enter the Bitcoin Space

One of the world's largest banks, Bank of New York Mellon Corporation (BNY Mellon), is entering the cryptocurrency space as a growing number of Wall Street institutions signals its interest in Bitcoin.  According to The Wall Street Journal, the firm said on Thursday that it will custody bitcoin

News  •  Bitcoin  •  Feb 11, 2021
Bank of Canada: Bitcoin Is "Deeply Flawed" As Payment Method - "Except for Illicit Transactions"
Bank of Canada: Bitcoin Is "Deeply Flawed" As Payment Method - "Except for Illicit Transactions"

While a "digital loonie" is potentially on the horizon for Canada's central bank, Bitcoin very much is not, according to Bank of Canada's Deputy Governor Timothy Lane. In a speech delivered on February 10th, Lane addressed the concept of a central bank digital currency

News  •  Economy  •  Feb 10, 2021
Uber Won't Buy Bitcoin, But May Accept It As Payment
Uber Won't Buy Bitcoin, But May Accept It As Payment

Ridesharing market leader Uber may accept cryptocurrency payments, but does not intend to buy bitcoin with corporate money to hold in its treasury like electric vehicle manufacturer Tesla has. Uber CEO Dara Khosrowshahi said during an interview with CNBC on February 11th that the firm "quickly dismissed" the

News  •  Bitcoin  •  Feb 10, 2021
Nigerian Central Bank Issues List of Reasons for Cryptocurrency Ban
Nigerian Central Bank Issues List of Reasons for Cryptocurrency Ban

The Central Bank of Nigeria (CBN) last week ordered banks to close the accounts of any entity using cryptocurrencies. Now, the institution justifies its actions with a list of reasons. According to a February 8th report by Nigerian news outlet The Nation, the local central bank’s acting director of

News  •  Bitcoin  •  Feb 08, 2021
Tesla Buys $1.5B Worth of Bitcoin
Tesla Buys $1.5B Worth of Bitcoin

The bitcoin price is surging higher today as Tesla, the world-famous electric vehicle manufacturer, has moved $1.5 billion from its cash position to bitcoin. According to SEC filings, the firm is buying bitcoin to provide "more flexibility to further diversify and maximize returns on our cash.” It was

News  •  Bitcoin  •  Feb 07, 2021
Citi Maintains "Sell" Rating for MicroStrategy Shares After 150% Price Gain
Citi Maintains "Sell" Rating for MicroStrategy Shares After 150% Price Gain

While many within the Bitcoin space lauded MicroStrategy for its bold move into Bitcoin in 2020, an analyst at Citi was less impressed by the business intelligence firm's decision to make Bitcoin its primary treasury reserve asset. In early December, Citi's Tyler Radke expressed concerns over

News  •  Business  •  Feb 02, 2021
Visa Reveals API Pilot to Help Banks Buy Bitcoin
Visa Reveals API Pilot to Help Banks Buy Bitcoin

Visa has partnered with First Boulevard, a neobank focused on the financial empowerment of the United States black community, to conduct crypto asset application programming interface (API) tests. According to a February 3rd announcement, First Boulevard will be the first bank to have access to Visa's crypto API,

News  •  Bitcoin  •  Feb 02, 2021
MicroStrategy Buys Another $10M Worth of Bitcoin
MicroStrategy Buys Another $10M Worth of Bitcoin

On Tuesday, MicroStrategy submitted a filing to the United States Securities and Exchange Commission (SEC) indicating that the firm has taken an additional $10 million position in bitcoin: "On February 2, 2021, MicroStrategy Incorporated (the “Company”) announced that it had purchased approximately 295 bitcoins for $10.0 million in

News  •  Bitcoin  •  Feb 01, 2021
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