It’s Sunday and a new week is just around the corner. But what’s in the past week Bitcoincountry happened? In this news overview a summary of the most important bitcoin news.
India Implements New Bitcoin Laws
Starting with news from India. There, the government has accepted a new law that allows income from cryptocurrencies be taxed at 30%. It is a fairly high rate and the new law is therefore criticized here and there. Still, it is also good news that India officially recognizes crypto. This could help further the adoption and development of the crypto world. So it just depends on how you look at it!
MicroStrategy is buying bitcoins again
Actually, it is no longer news because the company often does it; MicroStrategy has it again bought millions of dollars of bitcoins. It business intelligence The company recently bought $25 million worth of bitcoin for which it was able to acquire 660 bitcoins. In total, the company now owns 125,051 bitcoins. Despite the decline since bitcoin’s current all-time high (ATH) so the company remains buy bitcoin.
Bitcoin mining impact on climate negligible
Crypto investment firm CoinShares released an interesting report this week. Research has shown that bitcoin miners only 0.08% of all CO2 emissions produce. This while Bitcoin as a network often comes under fire because it would use too much power and is bad for the climate. CoinShares calls the impact so small that it could have been “a rounding error.”
BTC price often rises in February
After a long period of declines and ailing prices, the new month gave a little glimmer of hope. Historical price data shows that the BTC price of the past 9 years, February ended 7 times in the green. Looking at the current price movements February is already off to a good start with a BTC price increase of 15% since February 3!
Bloomberg analyst Mike McGlone also thinks that bitcoin may still receive support. The current stock market environment and the expectation that the Federal Reserve will change course can have a positive impact on a store-of-value active in Bitcoin.
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