All the latest news surrounding Bitcoin and related developments with Florin21 via the 21 Roundup.
The Economist’s narrative on Bitcoin shifts
Interestingly, amidst numerous pronouncements of Bitcoin’s demise, the leading economy newspaper has offered a new perspective in its latest article, exploring the potential benefits of including Bitcoin in one’s portfolio
“... with each boom-and-bust cycle, it becomes clearer crypto is not a bubble like tulip mania in the 1630s.... Although bitcoin is a volatile asset, its price history looks more like a mountain range than a single peak.... An asset that swings up and down, and not in parallel with other things people might have in a portfolio, can be a useful diversifier.”
Nasdaq-listed Marathon Digital Holdings acquires multiple Bitcoin mining sites
Marathon Digital Holdings acquires multiple Bitcoin mining sites for $179 million marking a significant expansion. This has raised its mining portfolio to 910 megawatts of capacity. This is a long-term investment in Bitcoin mining. By contributing more hash power, it will significantly enhance the network’s security.
World Bank report – Bitcoin mining can help reduce Natural Gas Flaring and Methane Emissions
A new report from the World Bank finds Bitcoin mining can help reduce emissions. It proposes using the gas for Bitcoin mining instead of gas flaring which releases methane.
“Crusoe provides a capital-light mitigation approach, taking exposure to the fluctuations in Bitcoin mining economics.”
Mine Bitcoin, cut methane, make money.
Spot Bitcoin ETF biggest Wall St development in 30 years – Michael Saylor
A spot Bitcoin ETF approval could be the biggest development on Wall Street since the early 1990s, says Billionaire co-founder.
“It’s not unreasonable to suggest that this may be the biggest development on Wall Street in 30 years,” Saylor said in a Dec. 19 interview with Bloomberg.
“The last thing that was this consequential was the creation of the S&P index and the ability to invest in all 500 S&P companies via one trade at the same time.”
These ETFs would provide a major catalyst driving demand, followed by a “supply shock” in April when the Bitcoin halving event takes place, Saylor explained.
“I don’t think we’ve ever seen a 2 to 10x increase in demand combined with a halving in supply in a scarce, desirable asset that people want to hold for a long period of time.”
2024 could be a breakout year for Bitcoin.
