11.4 M Bitcoin Held As Long Term Investment

11.4 million Bitcoin is held by long term investors, diminishing the tradeable supply to only 20% of the total Bitcoin supply. According to Chainalysis, the vast majority of Bitcoin (BTC) is held as long term investment, with 60% held by licensed custodians. Breakdown of Bitcoin supply. Source: Chainalysis. Digital gold The company concluded that the breakdown of Bitcoin’s supply makes it similar to gold, supporting the asset’s status as digital gold. They clarify, however, that it is the 3.5 million BTC that is actively traded which supports the price: “But…

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Ethereum DeFi Is “Going Parabolic” But ETH Isn’t Following: Investors Guess Why

For months now, decentralized finance has been deemed one of Ethereum’s “killer use cases.” The concept of migrating financial services onto a relatively decentralized platform has been deemed a genius idea by many investors. Over the past few weeks, this has culminated in rapid growth in DeFi protocols. According to DeFiPulse, there is now in excess of $1.3 billion of value locked in Ethereum DeFi applications. Yet ETH has yet to trend higher on the back of this positive fundamental trend, leaving many scratching their heads as to why this…

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Ernst & Young Launches Application to Help US Crypto Investors With Tax Filings

Ernst & Young (EY) has introduced a new application that helps U.S. cryptocurrency traders calculate and file their taxes with ease. The EY Cryptoprep app, a Software as a Service (SaaS) web-based crypto tax engine, helps users calculate crypto-related gains and losses that have to be reported on Form 8949, a form used to report sales and exchanges of capital assets. According to a June 18 statement from EY, one of the four largest accounting companies in the world, the engine offers step-by-step guidance through the crypto tax process. Users…

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Blockchain Tech May Soon Fuel Medical Tourism in South Korea

A consortium aims to strengthen medical tourism in South Korea by launching a blockchain-powered platform. In Busan, a private-public consortium in South Korea announced their intention to build a blockchain-powered medical tourism platform. No deadline for launch is currently set. According to Gyeongnam Ilbo, the initiative will be led by Busan Bank. They are looking to establish the platform within the second largest city of the country in terms of population. The group’s main goal is to strengthen the medical tourism sector. The consortium includes Pusan National University Hospital, Dong-A…

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Analyst: Bitcoin Could Continue Flatlining as it Gears Up for Explosive Volatility

Bitcoin’s unrelenting trading range has offered investors few insights into its near-term trend This range has persisted since the start of May, and isn’t showing no signs of letting up anytime soon Overnight sellers did attempt to shatter the lower boundary of this trading range, although this was quickly reversed by ardent buyers who have since pushed it back to $9,400 It now appears that this consolidation trend could extend even further The resolution to this sideways trading, however, is expected to be massive Bitcoin’s consolidation phase almost came to…

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UNICEF Cryptocurrency Fund Makes Its Largest-Ever Investment

125 ETH going to some very good causes. Today eight technology companies from seven different emergent economies will receive an investment of Ethereum cryptocurrency from the UNICEF Cryptocurrency Fund. UNICEF’s crypto-enabled investment vehicle has given these companies 125 ETH, worth approximately $28,600, to use in scaling or prototyping their respective technologies over the next six months. Companies receiving this investment have already received as much as $100,000 in fiat currency from UNICEF’s Innovation Fund. One such company, Afinidata, offers educational content to parents with young children. Another one, Cireha, builds…

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Holders Gather 233K BTC This Year, While Bitcoin Cash Savers Outshine Composition by Time Held

Market data from Glassnode shows that bitcoin holders have increased their positions by 233,000 BTC since January 1, 2020. However, when it comes to holders making money at the current price, bitcoin cash and bitcoinsv have performed better and the concentration of large holders is larger too. As far as “holders’ composition by time held” statistics bitcoin cash outshines BTC by 27% for the last twelve months. Just a few days ago, news.Bitcoin.com’s Jeffrey Gogo reported on a Glassnode report that detailed the “number of whales with 1,000 bitcoin or…

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Law Decoded: As Crisis Mode Fades, Regulators Look Kindly on Crypto, June 12-19

Regulators are warming up to crypto around the world as they embrace innovation for economic recovery. Editor’s note: The week has been remarkably active for policy, possibly as a result of economies showing signs of heading slowly back to normal. While crisis remains, it seems like everyone has gotten numb to crisis mode. Recent news has been quite kind to crypto all over the world. We may in fact be seeing a trend that many predicted back in March when COVID-19 lockdowns first took hold. Beyond the immediate importance that…

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Robinhood Vows to Improve Platform Following Customer Tragedy

The suicide of Alexander Kearns prompted Robinhood to take additional measures to improve its platform. Alexander Kearns, a 20-year-old customer of stock and cryptocurrency trading platform, Robinhood, committed suicide on June 12. This tragedy reportedly occurred after an erroneous negative balance of more than $730,000 appeared in Kearns’ account. This error has prompted the platform to take measures in order to improve the platform’s offering. According to the official announcement, Robinhood is considering additional criteria and education for customers seeking level 3 options authorization. They state that this may help…

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Another Bitcoin Scam Hits Canada

A local store owner in Winnipeg reported that several of his customers were victims of a Bitcoin scam. An alleged Bitcoin (BTC) scam is now reportedly targeting residents of Winnipeg, Canada. A local grocery store owner warned that many of his customers were victims of the scammers. According to Global News, Husni Zeid placed a large sign on the Bitcoin machine he has in his store, asking people to exercise caution with regard to phone scams that ask for fake Bitcoin investments. Zeid told the local media outlets: “A lot…

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