The Bitcoin network’s mining difficulty surged by 3.6% to a new all-time high on Wednesday, according to blockchain explorer Mempool. Reaching a staggering 92.67 trillion at block height 860,832, this adjustment surpasses the previous peak of 90.67 trillion recorded in late July. This escalation reflects growing computational efforts and power requirements as miners work to generate new blocks.

Additionally, over the weekend, Bitcoin’s total hash rate hit a record high. Data from The Block indicates that the seven-day moving average reached an unprecedented 693.84 EH/s, showcasing the intense activity and robust participation by miners in the network.

This rigorous adjustment process, which occurs every 2016 blocks—or approximately every two weeks—ensures a new block is found every 10 minutes on average, maintaining the network’s efficiency and reliability, regardless of fluctuations in miner numbers.

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The UK Parliament has introduced the Property (Digital Assets etc) Bill today to officially and legally recognize Bitcoin, cryptocurrency, and other digital assets as personal property. With this new legislation, for the first time, British law would officially protect digital holdings such as Bitcoin and other cryptocurrencies, non-fungible tokens (NFTs), and carbon credits.

“It is essential that the law keeps pace with evolving technologies and this legislation will mean that the sector can maintain its position as a global leader in cryptoassets and bring…

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“Someone needs to be the keeper and reiterator of the vision. There’s a ton of work to do. When you have to walk a thousand miles and have only taken the first step, it feels like a long way. It really helps if there is someone saying, ‘We are one step closer, and the goal is not a mirage.’” -Steve Jobs

Stacy Herbert, Director of the National Bitcoin Office (ONBTC) of the Office of the President of El Salvador, shared the above quote with me, while beaming with both pride and resolve, at the onset of my interview with her.

It’s clear that Herbert is on a mission, a mission that started in 2010 when she and her partner, Max Keiser, first discovered Bitcoin and became some of the…

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The US national debt has surged to $35.347 trillion as of September 9, 2024, experiencing a substantial increase of $1.357 trillion this year alone. Despite the growing dollar amount, the debt’s value in Bitcoin terms has intriguingly decreased, showcasing Bitcoin’s strength against the dollar. Initially equivalent to 761.325 million BTC at the year’s start, it now stands at 644.071 million BTC, even as the debt climbed in dollar terms.

This shift highlights Bitcoin’s significant appreciation, with the BTC/USD exchange rate moving from a peak of over $70,000 down to $56,800 recently. The volatile yet upward trajectory of Bitcoin against the US dollar suggests an increasing recognition of Bitcoin as a robust store of value amidst rising national debt figures.

Analysts observe that while dollar-denominated debt follows a consistent upward trend, the decreasing BTC equivalent underscores a broader shift in asset valuation preferences. This trend provides valuable insights for both investors and policymakers, reflecting a pivot towards digital assets in financial strategies and economic planning.