- Crunch
- Global
Luxury sports car manufacturer Ferrari announced it will expand the ability to pay with Bitcoin and crypto to its European dealerships starting this month. The move comes after Ferrari first began accepting Bitcoin and crypto payments at its US dealers last year.
JUST IN: Luxury Cars Manufacturer Ferrari to accept #Bitcoin and crypto payments in Europe. pic.twitter.com/PxT7Z7OwbP
— Bitcoin Magazine (@BitcoinMagazine) July 24, 2024
Ferrari said the rollout to Europe will occur by the end of July, enabling customers to purchase new vehicles using Bitcoin and crypto. The company plans to expand the Bitcoin payment option to dealers worldwide by the end of 2024, where legally…
Read more on BitcoinMagazine
Mt. Gox, once the world’s largest Bitcoin exchange, has been a name synonymous with both the rise and tribulations of the Bitcoin market. In the recent months, news of Mt. Gox bitcoin transfers have shaken the market.
Founded in 2010, Mt. Gox handled approximately 70% of all Bitcoin transactions globally. Originally created as a platform for trading “Magic: The Gathering” cards, it quickly became a pivotal player in the burgeoning Bitcoin world.
However, in 2014, the exchange experienced a catastrophic security breach, losing around 850,000 bitcoin, worth hundreds of millions of dollars at the time. This event led to its bankruptcy and triggered years of legal…
Read more on bitcoinnews
Proton, the Swiss technology company that creates privacy-preserving online tools like ProtonMail and ProtonVPN, is launching Proton Wallet, a self-custody Bitcoin wallet.
This new product will be integrated with ProtonMail and will enable users to send bitcoin as easily as sending an email.
“Bitcoin’s value to society has been hindered by the difficulty of transacting and security concerns, and we designed Proton Wallet to specifically address both,” said Andy Yen, founder and CEO of Proton in a press release shared with Bitcoin Magazine. “Proton Wallet’s ability to support Bitcoin via email now makes Bitcoin transactions as easy to use as PayPal, while preserving the…
Read more on BitcoinMagazine
Tesla’s adherence to its Bitcoin investment strategy remains unaltered, as detailed in its recent quarterly report. The electric vehicle giant holds approximately 9,720 Bitcoins, valued at $640 million, continuing a no-sale streak for the eighth consecutive quarter. This strategic decision underscores a commitment to cryptocurrency, following their initial $1.5 billion Bitcoin investment in 2021.
The company’s financial performance this quarter has surpassed expectations, with revenues hitting $25.5 billion against a forecast of $24.63 billion. Despite a dip in automotive sales leading to an 8% stock decrease in extended trading, Tesla reported a strong net profit of $1.5 billion and a robust free cash flow of $1.34 billion.
This financial resilience, coupled with Tesla’s steady crypto holdings, signals a broader acceptance and potential stability in the cryptocurrency market, reflecting a growing confidence among major corporate players in the viability of digital assets.
U.S. spot Ethereum (ETH) exchange-traded funds (ETFs) saw substantial success on their first day of trading, recording $106.7 million in net inflows and generating over $1 billion in trading volume. Nine different ether ETFs from eight issuers commenced trading on Tuesday, marking a significant milestone in the cryptocurrency market.
Leading the inflow surge was BlackRock’s ETHA, which attracted $266.55 million. Bitwise’s ETHW followed with $204 million, while Fidelity’s FETH and Grayscale’s Ethereum Mini Trust garnered $71.31 million and $15.15 million, respectively. However, the Grayscale Ethereum Trust (ETHE) experienced a notable $484.1 million in net outflows, making it the only fund to record outflows.
Overall, the total trading volume for these nine ether ETFs reached an impressive $1.05 billion. Within a short period, these spot Ethereum ETFs have already accumulated over $10 billion in assets under management, highlighting strong investor interest and confidence in Ethereum-focused investment products.