Bitcoin

Bitcoin is a new electronic payment system that removes the need for third party financial institutions. It speeds up transactions while reducing costs and minimizing the potential for fraud. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.

Bitcoin’s concept was first introduced in 2008 when a person going by the pseudonym Satoshi Nakamoto shared a white paper titled “Bitcoin: A Peer-to-Peer Electronic Cash System.” In January 2009, the Bitcoin blockchain was launched. 

A new electronic payment system called Bitcoin removes the need for third-party financial institutions. It speeds up transactions while reducing costs and fraud-risk. The name “cryptocurrency” points to how it uses “cryptographic proof” to work, AKA a blockchain.   

Bitcoin has a finite supply of 21 million, which is expected to be reached by the year 2140. Currently, 18.8 million are circulating in the market. Note that Bitcoin represents the concept of the network, while bitcoin (lower-case ‘b’) represents the currency.

Bitcoin is one of the most well-known cryptos as it was the first decentralized currency. 

Currently, BTC’s dominance is above 40%. Bitcoin Dominance is a measure of how much of the total market cap of crypto is made up of Bitcoin. Bitcoin’s influence in the crypto ecosystem could be vulnerable to competition as alternative coins grow in popularity and utility.

Since Aug. 10, following a string of four 100 BTC transactions from 2012, nearly 1,800 BTC—worth over $212 million—has moved for the first time in years over the past four days.

Dormant Bitcoin Vaults Stir: 1,799 BTC Worth $212.77M Moves After Years of Silence

Bitcoin Magazine KindlyMD & Nakamoto Officially Merge, Plans to Buy One Million BTC The combined company, led by CEO David Bailey, aims to acquire one million BTC and accelerate Bitcoin adoption across global capital markets. This post KindlyMD & Nakamoto Officially Merge, Plans to Buy One Million BTC first appeared on Bitcoin Magazine and is written by Nik.

KindlyMD & Nakamoto Officially Merge, Plans to Buy One Million BTC

More than 200 companies have established BTC-only corporate treasuries—a trend analysts say underscores growing demand.

David Bailey's Nakamoto and KindlyMD close merger for Bitcoin treasury

Treasury Secretary Scott Bessent began Thursday by dashing the hopes of at least some bitcoiners, saying the Strategic Bitcoin Reserve would be made up of the $15 billion to $20 billion already held by the government, but that there was no intention of making any fresh purchases.

Scott Bessent Suggests Government Bitcoin Purchases Remain a Possibility

After disappointing Bitcoin fans with earlier comments, Treasury Secretary Scott Bessent said the U.S. may buy BTC for its reserve after all.

Bessent Backtracks on Bitcoin: Treasury Committed to 'Budget-Neutral' BTC Buys

Dogecoin

Ethereum

Cryptocurrency markets are trading lower as overshooting producer price inflation stopped the altcoin rally. Cryptocurrency Ticker Price Bitcoin (CRYPTO: BTC) $118,203.36 Ethereum (CRYPTO: ETH) $4,562.59 Solana (CRYPTO: SOL) $194.91 XRP (CRYPTO: XRP) $3.09 Dogecoin (CRYPTO: DOGE) $0.2247 Shiba Inu (CRYPTO: SHIB) $0.00001293 Notable Statistics: IntoTheBlock data shows Bitcoin and Ethereum large transaction increased by 4% and grew 18.7%, respectively in a single day.

Will Bitcoin, Ethereum, XRP, Dogecoin Hold Key Levels, 'Before Major Market Shifts?'

Jack Dorsey's Block has released a new, long-lasting Bitcoin mining rig in the X co-founder's latest BTC push.

Jack Dorsey's Block Reveals Modular Bitcoin Mining Rigs That Can Be Upgraded

The full 200 MW of high-performance compute is expected to come online by the end of 2026, the company announced Thursday.

Bitcoin miner TeraWulf shares jump 50% after Google secures 8% stake as part of $3.7 billion 10-year AI compute deal

Crypto markets have pulled back on Thursday, after an upside inflation print renewed fears of a persistent pick-up in prices. What Happened: In a live session on Thursday, prominent analyst Kevin highlighted that Ethereum (CRYPTO: ETH) and the Total 2 altcoin market (all altcoins excluding Bitcoin (CRYPTO: BTC)) have approached a 4-year historical resistance zone, but were rejected following the PPI release.

Bitcoin, Ethereum Tumble After Inflation Surprise

The digital asset's price saw a precipitous drop early Thursday morning after the U.S. Bureau of Labor Statistics published data revealing record inflation metrics. Inflation Shock Triggers Bitcoin Slump Just seconds after the U.S. Bureau of Labor Statistics (BLS) published its inflation data at 8:30 am on Thursday, bitcoin ( BTC) fell off a cliff.

Bitcoin Tumbles as Markets Reel, in the Wake of Gloomy Inflation Data

Founded in October 2023, Bitlayer Labs is building a Bitcoin Layer 2 network based on the Bitcoin Virtual Machine (BitVM) system.

Bitcoin Layer 2 Bitlayer raises additional $5 million in oversubscribed public token rounds on decentralized crowdfunding platforms

U.S. Treasury Scott Bessent advocated for a 50-basis-point rate cut earlier this week.

Bitcoin, Ethereum Fall as PPI Shock Squashes Hopes for Jumbo Rate Cut

Bitcoin Magazine Bitcoin Price Slid Down To $118,000 After Surpassing Google's Market Cap Bitcoin price retreated to $118,000 after reaching an all-time high of $124,283 and briefly surpassing Google parent Alphabet's market cap with a $2.46 trillion valuation compared to Alphabet's $2.448 trillion. This post Bitcoin Price Slid Down To $118,000 After Surpassing Google's Market Cap first appeared on Bitcoin Magazine and is written by Vivek Sen.

Bitcoin Price Slid Down To $118,000 After Surpassing Google's Market Cap

Bitcoin Magazine India's First Bitcoin Think Tank Launches on Independence Day. Its Mission? Financial Sovereignty The Bitcoin Policy Institute of India has announced its launch on India's Independence Day to highlight the notion that true freedom comes with the type of financial and economic sovereignty that Bitcoin provides. This post India's First Bitcoin Think Tank Launches on Independence Day. Its Mission? Financial Sovereignty first appeared on Bitcoin Magazine and is written by Frank Corva.

India's First Bitcoin Think Tank Launches on Independence Day. Its Mission?

Solana

On-chain analytics firm Santiment has highlighted that Ethereum (CRYPTO: ETH), Solana (CRYPTO: SOL) and OKB (CRYPTO: OKB) are currently the top three trending tokens in terms of sentiment, outperforming Bitcoin (CRYPTO: BTC) in the process. What Happened: In a detailed X post on Aug 12, Santiment noted Ethereum trending due to discussions around its price, including speculation about hitting $5,000.

Ethereum, Solana Lead Crypto Social Media Discussions — What About Bitcoin?

After bitcoin surpassed $124,000, some analysts suggest that the cryptocurrency may be entering a rapid growth phase, with potential price targets between $131,000 and $177,000. Record-Breaking Rally and Market Capitulation On Aug.

Experts: Bitcoin's Rally Fueled by ETF Demand, Weak Dollar, and Rate Cut Hopes

The following article is adapted from The Block's newsletter, The Daily, which comes out on weekday afternoons.

The Daily: Bessent says govt won't buy bitcoin for strategic reserve, Ethereum ICO whale sells another $5 million in ETH, and more

A sharp upside surprise in U.S. producer price inflation triggered a $420 million wipeout in crypto markets on Wednesday, exposing lingering vulnerabilities in market leverage during macroeconomic data shocks. What Happened: The U.S. July Producer Price Index rose 3.3% year-on-year, exceeding forecasts of 2.5% and marking its highest level since February.

$420 Million Wiped Out In 20 Minutes — What The Inflation Shock Reveals About Bitcoin, Ethereum

Four people who kidnapped and held a Brazilian woman until her son paid a ransom of five bitcoins have been arrested.

Four people who ransomed Brazilian mother for Bitcoin arrested: reports

Bitcoin Magazine Block Launches Modular Bitcoin Miner And Free, Open Source Mining Software Block unveils Proto Rig, a modular, repairable bitcoin miner, and Proto Fleet, free open-source fleet management software, in a push to decentralize mining. This post Block Launches Modular Bitcoin Miner And Free, Open Source Mining Software first appeared on Bitcoin Magazine and is written by Nik.

Block Launches Modular Bitcoin Miner And Free, Open Source Mining Software

On Thursday, during a Fox News interview, U.S. Treasury Secretary Scott Bessent addressed the nation's strategic bitcoin reserve (SBR), clarifying that the government has no plans to purchase bitcoin for it. PPI Surprise and Bessent's Bitcoin Stance Causes Uncertainty Over the past 24 hours, the crypto market slipped 2.

US Treasury Secretary Dampens the Mood: Government Won't Buy Bitcoin for Strategic Reserve

The White House has repeatedly floated the idea that the federal government could—and should—purchase additional Bitcoin to supplement existing reserves.

U.S. Will Not Be Purchasing Any Bitcoin, Treasury Secretary Bessent Says

Bessent reiterated that the government would not sell bitcoin currently in the reserve, valuing it at $15 to $20 billion.

US Treasury Secretary Bessent says government won't buy bitcoin for strategic reserve but will retain seized assets as crypto markets see red

Cryptocurrency markets are trading lower Thursday morning following a surpisingly hot producer price inflation data print.

Bitcoin, Ethereum, XRP, Dogecoin Slip As Hotter-Than-Expected PPI Data Weighs On Markets

U.S. Treasury Secretary Scott Bessent on Thursday confirmed the government will not be buying additional Bitcoin (CRYPTO: BTC) for its strategic reserve, saying the holdings will grow only through confiscated assets. What Happened: Speaking to Fox Business, Bessent also projected that tariff revenues could exceed earlier forecasts, potentially surpassing $300 billion this year.

News for Bitcoin Crypto (BTC)