1,500 BTC lost daily; less than $14M to ever circulate
Timothy Peterson, a cryptocurrency analyst at Cane Island Alternative Advisors, claims that 1,500 bitcoin are lost each day, stating that only 14 million BTC will ever circulate. Some estimates state that 20% of mined Bitcoin is lost forever; the good news: there are many ways to keep your cryptocurrency safe and the user experience for storing crypto is getting better.
Microstrategy buys $175 million of BTC in 74 hours
Microstrategy, a NASDAQ-listed company bought 17,000 Bitcoin during a 74 hour trading spree this week, becoming the first publicly-traded company to move a significant amount of its reserves into Bitcoin. Former Bitcoin skeptic CEO Michael Saylor stated that Bitcoin’s volatility is preferable to a negative yield, and added that he was moved into action by the ethos of the Bitcoin community.
Alibaba Group is the largest blockchain patent holder of 2020, leading a surge of blockchain-related filings since the beginning of the year, now holding over 1500 blockchain-related patents. A recent study shows a trend of Fortune 500 companies filing significantly more patents than smaller blockchain-specific firms and highlights the steps that multinational corporations are taking to leverage blockchain technology.
Data leak: Trillions in illegal activity at major banks
A massive leak of 2,100 documents shows that multinational banks such as JPMorgan and HSBC have systematically helped bad actors launder and move massive sums of money.
The banks named in the leak are responsible for more than $2 Trillion in fraudulent activity since the year 2000 and have faced lenient consequences for their actions.
Tune in to the latest Bitcoin.com Podcasts where Dustin talks with Brad Kam over censorship, big tech, and privacy; and Mitoshi Joe, founder of The Ikagi System, over cryptocurrency & trading. Brought to you by Manscaped, the makers of The Lawn Mower 3.0 Promo code Bitcoin or BCH
Get $100 in Bitcoin at LA Blockchain Summit
eToro and LA Blockchain Summit have partnered to spread mass adoption of blockchain technology and enable everyone to attend our world-class conference. In addition to a free ticket, every qualifying attendee will receive $100 in Bitcoin.
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