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According to Bitcoin Magazine Pro data, holding Bitcoin has been profitable for 98.5% of its existence. The data reveals that out of the last 5,096 days since Bitcoin trading began, holding BTC has been profitable for 5,020 days relative to the current price of ~$66,500 per BTC.
Since August 17, 2010, when Bitcoin was priced at just $0.07, its value has skyrocketed to around $66,500, representing an astounding increase of 94,999,900%. This consistent upward trajectory highlights Bitcoin’s sustained growth and increasing adoption over time.
The chart from Bitcoin Magazine…
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On Wednesday, Federal Open Market Committee members opted to hold interest rates steady. This marks their eighth pause since consistently raising interest rates from March 2022 to July 2023.
Stocks showed little immediate change, holding onto gains made earlier in the session. At the time of publication, the S&P 500 and Nasdaq Composite indexes were up 1.6% and 2.4%, respectively.
Many cryptocurrencies dipped across the board, paring gains from earlier in the day. However, bitcoin and ether remained in the green at time of publication, trending 0.7% and 0.3% higher, according to data from Coinbase.
Committee members’ forward guidance, found in the third paragraph of Wednesday’s…
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Tether has unveiled its Q2 2024 financial attestation by BDO, revealing a staggering $5.2 billion in profits for the first half of the year. This remarkable performance underscores the company’s robust financial health, with a Q2 net operating profit of $1.3 billion alone. As Tether solidifies its position in the global market, it also emerges as a significant player in US Treasury holdings, ranking 18th globally.
Amidst volatile Bitcoin price fluctuations causing a $653 million unrealized loss, Tether’s strategic investments have yielded a $165 million unrealized gain from gold. The resilience and strategic diversification have propelled its consolidated net equity to an impressive $11.9 billion. These financial feats highlight Tether’s commitment to maintaining high transparency, liquidity, and responsible financial management.
CEO Paolo Ardoino emphasized the company’s unmatched financial strength and ongoing expansion into sectors like AI, Biotech, and Telecommunications. Tether’s issuance of over $8.3 billion in USDT during the quarter not only strengthens its market presence but also showcases its role as a cornerstone in the stability and growth of the cryptocurrency market.
I was asked repeatedly throughout this year’s Bitcoin 2024 conference what my highlight of the moment was — what the signal was amongst the noise. As I returned from Nashville, it occurred to me that, each time, I could never answer the question satisfyingly.
In part, because I simply couldn’t keep up. The activity around the news desk and my support for those running the show left me with little time to focus on anything else. I can’t say I regret it. Anyone who gravitated around our livestream studio space during the week can attest to the energy surrounding it. The Bitcoin Magazine news desk was the veritable heartbeat of the conference.
Now that I’ve had time to collect my…
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