LATEST: Bitcoin’s Key Role in US National Strategy, Says Space Force Officer

U.S. Space Force Major Jason Lowery urges the U.S. military to explore Bitcoin’s proof-of-work systems for national defense. In a detailed letter to the Defense Innovation Board, he argues Bitcoin’s potential extends beyond finance, offering robust cybersecurity against digital warfare. Lowery suggests Bitcoin’s resource-intensive nature could deter cyberattacks, similar to physical military assets. He stresses this approach is vital for the U.S. to remain a global leader in an increasingly interconnected, digital world. Lowery’s proposal, if adopted, could mark a significant shift in national cybersecurity strategy.

UK still undecided on future of digital pound 

As researchers forge ahead with looking into how a digital pound could work in the UK, lawmakers remain undecided on whether or not a central bank digital currency (CBDC) has a place in its future economic landscape. 

In a recent report, the House of Commons Treasury Committee advised the Bank of England and HM Treasury to thoughtfully consider the introduction of a CBDC in the UK. It emphasized the importance of proceeding with caution and adopting a deliberate approach.

A digital pound specifically raises concerns about financial stability, committee members noted. 

“One of the most commonly cited risks was that of ‘bank disintermediation’ — that is, the switching of…

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ParaSpace to continue NFT lending as it rebrands to Parallel Finance

Despite rebranding to Parallel Finance for a greater focus on the decentralized finance (DeFi) ecosystem, the nonfungible token (NFT) lending protocol ParaSpace will continue to focus on its core product amid sector woes. 

In a conversation with Cointelegraph, Yubo Ruan, founder and CEO of ParaSpace (now Parallel Finance), explains that the protocol uses a combination of diversified liquidity pools, dynamic loan-to-value ratios, and price-discovery partnerships to mitigate the risks associated with high volatility, which can often result in a lack of bidders on the underlying asset. 

“Despite the market downturn, we believe NFT margin lending remains viable,” said Ruan. ” It serves a…

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Bitcoin Surges 150% This Year, Hits $42,000 As Spot ETF Excitement Builds

Bitcoin has experienced a 150% surge in value throughout the year, reaching over $42,000 early Monday morning. This explosive growth comes amidst mounting anticipation surrounding the potential launch of a Bitcoin spot exchange-traded fund (ETF) in the United States.

The main contributing factor to Bitcoin’s recent surge, in addition to the halving event approaching amongst other bullish developments, appears to be the mounting speculation surrounding the approval of a Bitcoin spot ETF by regulatory authorities in the United States. Such an ETF, if approved, would allow traditional investors to gain exposure to spot Bitcoin, potentially boosting the price of the asset.

“Money will flood…

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How to prepare for the next crypto bull market: 5 simple steps

The next bull market could kick off as soon as next year, propelled by catalysts such as the upcoming Bitcoin (BTC) halving and potential approval of a spot Bitcoin ETF in the United States. 

In our latest Cointelegrph Report, we explain how to prepare for the next parabolic move in five simple steps.

First, it’s important to understand the Bitcoin market cycle theory, which states that crypto bull markets happen roughly every four years following Bitcoin halving events, when the supply of new BTC gets cut in half.

According to professional trader Eric Crown, we are still in a pre-halving rally, which will probably exhaust itself in the low $40,000 for Bitcoin. The biggest price moves,…

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Riot plots aggressive hashrate growth via latest MicroBT deal

Crypto miner Riot Platforms has bought another 66,000+ machines as part of a deal with MicroBT that could ultimately help the company eclipse 100 exahash per second (EH/s) in mining capacity. 

The buy of MicroBT M66S model machines for $290.5 million is the largest hash rate purchase in Riot’s history, Riot CEO Jason Les said in a statement Monday. It amounts to approximately 18 EH/s of mining capacity.

The Colorado-based miner, which operates mainly in Texas, had 11.7 EH/s of deployed hash rate as of Oct. 31.

Its latest buy comes after Riot made a deal in June with the China-based bitcoin miner manufacturer in June to buy 33,280 machines — the initial order in what the company…

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Bitcoin Hits Front Page on Bloomberg as Price Breaks $42,000

Bitcoin Hits Front Page on Bloomberg as Price Breaks $42,000

Bitcoin, the original digital currency that has taken the world by storm, has just achieved a new level of recognition and success by breaking the $42,000 price point, a milestone that has earned it a prominent place on the front page of Bloomberg. This event marks a historic moment in Bitcoin’s decade-plus history, signaling a surge in investor confidence and a remarkable shift in the financial landscape.

The front page of Bloomberg, a barometer for the most impactful financial news, today reflects the soaring trajectory of Bitcoin. With this leap in value, Bitcoin has not only captured the interest of individual investors but has also caught the attention of major financial institutions and market watchers who once viewed the digital coin with skepticism.

Bitcoin’s journey to the front page is a narrative of breakthroughs and barriers being shattered. In an era of low-interest rates and economic uncertainty, Bitcoin has emerged as a preferred choice for investors looking for growth, and its front-page presence is a testament to its growing influence.

This surge to over $42,000 is not just about Bitcoin’s financial triumphs; it’s a sign of changing times. The digital currency, often celebrated for its decentralized nature and potential for high returns, is increasingly seen as a serious player in the financial markets.

The presence of Bitcoin on Bloomberg’s front page is a powerful statement about its increasing acceptance and the curiosity it sparks among even the most traditional investors. It represents a shift in perception from an alternative experiment to a legitimate financial asset that commands global attention.

As Bitcoin continues its ascent, the world is watching with great interest. The financial sector, known for its cautious approach, is now keenly observing Bitcoin’s performance, and many are considering how this digital currency can fit into broader investment strategies.

With its front-page acknowledgment by Bloomberg, Bitcoin has solidified its position not just as a digital asset but as a phenomenon that has the potential to reshape the future of finance. The road ahead for Bitcoin may be paved with uncertainties and volatility, but its front-page moment is a clear indication that it is a force to be reckoned with in the financial world.

Crypto stocks are riding the spot bitcoin ETF wave

While the US stock market opened mostly in the red Monday, crypto-tied equities appeared to prove the exception Monday morning.

Some publicly listed firms posted double-digit rallies to round out the last month of the year. Galaxy Digital, Marathon Digital Holdings and Riot Platforms each gained more than 10% in the first twenty minutes of Monday’s trading session. 

Coinbase and MicroStrategy weren’t far behind, posting around 8% and 9% rallies, respectively. Indeed, Coinbase, Marathon and Riot are poised to clock gains of more than 300% over the year. 

Cryptocurrencies were also in the green. Bitcoin (BTC) rallied more than 4% Monday morning over the past 24 hours, putting the…

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Top 10 Trending Crypto Coins of The Day

  1. VitaDAO: Market Cap of $94 Million.
  2. UX Chain: Market Cap of $17 Million.
  3. Chromia: Market Cap of $86 Million.
  4. Bitgert: Market Cap of $96 Million.
  5. Syscoin: Market Cap of $102 Million.
  6. Baby Doge Coin: Market Cap of $191 Million.
  7. Vulcan Forged: Market Cap of $168 Million.
  8. Veloce: Market Cap of $16 Million.
  9. Celestia: Market Cap of $1.2 Billion.
  10. ORDI: Market Cap of $834 Million.

Disclaimer: Market capitalizations can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.