Early Ether investor sells all his ETH, plans to buy parents a house

A Redditor named “u/FollowMe22”, 27, says he has finally sold off the last of his Ether (ETH) stash acquired back in 2016. According to the Reddit post, he began buying ETH back in 2016 when the price was slightly above $2, adding: “I put my whole tax return in 2016 and threw a couple hundred at it whenever I could. I didn’t buy a car and biked to work to save money. I remember at the time thinking there was about a 1/3 chance it would 100x, so there was…

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Janet Yellen Reveals Plans for Bitcoin — Sees Cryptocurrencies Used Mainly for Illicit Financing – Regulation Bitcoin News

Janet Yellen, Joe Biden’s pick for the Treasury Secretary, has revealed her policy for cryptocurrencies, including bitcoin. She claims that cryptocurrencies are mainly used for illicit financing and their use needs to be curtailed. Janet Yellen Reveals Her Plans for Cryptocurrencies In the Senate hearing to consider Janet Yellen’s nomination as Secretary of the Treasury on Tuesday, Yellen was asked about cryptocurrencies. She is Joe Biden’s pick to lead the Treasury Department under his administration. The crypto question was asked by Senator Maggie Hassan (D-NH), who talked about “the importance…

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Kim Dotcom Discusses the Swelling Crypto Economy and His Plans to ‘Accelerate P2P Electronic Cash’

This week, news.Bitcoin.com chatted with Kim Dotcom, the founder of the now-defunct file hosting service Megaupload and the creator of the content monetization application called K.im. The Internet entrepreneur Dotcom is a big believer when it comes to the crypto economy and during the conversation, we discussed subjects like bitcoin cash, the recent Big Tech censorship, and how cryptocurrencies will forward financial freedom. Kim Dotcom is a well known Internet entrepreneur and political activist that believes the crypto economy will continue to swell in value. Dotcom is well known for…

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Billion-Dollar Wealth Manager Skybridge Capital Plans to Launch a Bitcoin Fund

In mid-November, a filing registered with the U.S. Securities and Exchange Commission (SEC) had shown that the investment firm Skybridge Capital may invest in crypto assets like bitcoin. Over a month later, Skybridge Capital filed another registration form with the U.S. SEC (Form D) as it plans to launch a bitcoin fund. The wealth management firm run by Anthony Scaramucci, Skybridge Capital, is launching a bitcoin fund called the Skybridge Bitcoin Fund L.P. The news of the Skybridge’s fund stems from a Form D Securities and Exchange Commission filing. The…

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Microstrategy Plans a $400 Million Capital Raise to Buy More Bitcoin

Microstrategy Inc., said Monday that it is planning to sell $400 million in convertible senior notes to private investors so that it could buy more bitcoin. The Nasdaq-listed business intelligence and mobile software company already holds 40,824 bitcoin (BTC) in reserve, valued at $776 million at current prices of around $19,000 per each bitcoin. On Dec. 4, Microstrategy bought another 2,574 BTC for $50 million, adding to its initial $425 million haul from August and September. The firm holds the largest bitcoin reserves of any publicly traded company, according to…

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First company-sponsored Bitcoin retirement plans launched in US

U.S.-based asset manager, Digital Asset Investment Management (DAiM), has launched the country’s first employer-sponsored 401(k) retirement plans supporting Bitcoin. According to a Nov. 19 announcement, DAiM will serve as the advisor and fiduciary in helping companies “create a 401(k) plan that offers several recommended model portfolios of varying risk to traditional assets and allocation of up to 10% to Bitcoin.” The BTC will be held in cold storage by Gemini Trust, allowing DAiM to transfer Bitcoin to former-employees who have left participating companies. DAiM’s crypto-friendly plans are compliant with the…

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Bitcoin Evangelist Andreas Antonopoulos Plans to Testify in Billion-Dollar Bitcoin Lawsuit

On Monday evening November 16, the popular bitcoin evangelist Andreas Antonopoulos tweeted about his upcoming role in the high-profile billion-dollar bitcoin lawsuit, Kleiman v. Wright. Antonopoulos said that he will be “testifying at trial” during the month of April 2021, even though Craig Wright’s defense team tried to exclude him. It seems the ongoing high-profile lawsuit, Kleiman v. Wright will continue into 2021, and maybe even longer depending on the situation with Covid-19. However, new information has been published by the courts that show a lot of deliberation and arguments…

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Hash Watch: Kraken Announces BCH Fork Plans, Bitcoin ABC Reveals Two-Pronged Effort

A number of third party infrastructure providers have announced contingency plans for the upcoming Bitcoin Cash upgrade on November 15, 2020. Hitbtc has revealed the exchange’s plans to halt bitcoin cash transactions on that day, and it plans to credit all users with an additional token if a blockchain split happens. Additionally, Kraken has announced plans for the fork as well with airdrop support requirements. The Bitcoin Cash (BCH) network will upgrade on November 15, 2020, and the latest feature that will be added to the network is the ASERT…

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Paypal Begins Crypto Service: CEO Reveals Increased Limits, Expansion Plans, Venmo Rollout

Payments giant Paypal has revealed more details of its new cryptocurrency service. The company is currently rolling out crypto functionality to U.S. customers, after which it will launch the service internationally and on the Venmo platform. Paypal’s CEO Unveils Crypto Plans Paypal CEO Dan Schulman provided new details of the company’s new cryptocurrency service during the Q3 2020 earnings call on Monday. Paypal recently announced that its customers will be able to buy, hold, and sell cryptocurrencies, including bitcoin, directly from their Paypal accounts. Cryptocurrencies in Paypal accounts can also…

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Digital Ruble: Russia Unveils Plans to Test Central Bank Digital Currency

As China is actively testing its digital yuan, Russia is now planning to build and test a central bank digital currency, the digital ruble. Meanwhile, the Bank of Russia has proposed limiting the amount of bitcoin retail investors can buy. Russia’s Central Bank Plans Digital Ruble The central bank of Russia has outlined its plans to conduct an experiment using the digital ruble with a limited number of participants after public consultations, Izvestia publication reported last week. The Bank of Russia announced the development of the digital ruble and public…

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