Tag: Bitcoin
Bitcoin Crashes After U.S. Government Moves $2 Billion in BTC: What’s Next?
Bitcoin has been trying to regain its position at the $70,000 zone since the market rejected it over a month ago. For the last many days it has struggled with multiple resistances at various levels. On 29th July, it could finally touch this spot but could not hold it for long. Prices dropped down to …
In calls for government reserve, bitcoin backers eye legitimacy
Senator Cynthia Lummis, R-Wyo., speaks during the Bitcoin 2023 conference last year. During this year’s conference, Lummis said she would introduce legislation directing the Federal Reserve to create a strategic bitcoin reserve, a move that would be a boon to bitcoin investors but that critics say has little practical purpose.Bloomberg News Prominent politicians, including a …
US Government Launches New Attempt to Gather Data on Electricity Usage of Bitcoin Mining
The fast-growing cryptocurrency industry is a major consumer of electricity, but no one—not even the U.S. government—knows exactly how much energy goes into the armada of computers used to ‘mine’ Bitcoin and other digital assets. The U.S. Energy Information Agency estimates that cryptocurrency mining uses between 0.6 percent and 2.3 percent of all electricity per …