It was another red week for the bitcoin (BTC) price! And that’s not so strange. We saw quite a bit of negative news coming out, again from China. But luckily there were also some positive news! In this article you will find a news overview with the most important news of the past week.
China goes after bitcoin (BTC) miners
This week we again saw several reports from China that bitcoin miners are having a hard time. The government has recently started tightening the restrictions and in some regions even a complete ban. For example, mining in Yunnan province has been banned, miners are no longer allowed to use electricity from hydroelectric power plants in Sichuan and miners in Ya’an will also have to deal with a ban. Crypto prices now possible online.
Because more and more miners have to turn off their miners, the computing power of the Bitcoin network has dropped considerably. As a result, difficulty has again corrected downwards this week. You can read more about this in this article.
Musk back to bitcoin?
And then some hopeful news. Elon Musk has clarified some things about his stance on Bitcoin. Musk was one of the factors that caused panic last month. He announced that he would no longer accept bitcoins due to concerns about Bitcoin’s energy consumption. This week, he gave the crypto community some hope again.
He said in a tweet that he would not ban bitcoin forever. As soon as the electricity miners use comes from renewable energy sources for about 50%, Tesla will accept bitcoins again! Musk emphasized that Tesla has only sold 10% of its bitcoins and is still holding the rest.
MicroStrategy can’t get enough
One company where the bitcoins are going in like hotcakes is MicroStrategy. That company announced this week that it has completed an investment round for senior secured notes. $500 million was raised, which is all put into bitcoin. Later, the company also announced its intention to sell $1 billion in shares. Part of this money would also have bitcoin as a destination. Internet computer price is high.
Ajax and Feyenoord enter the crypto world
Then some news from our own country! This week, the Dutch exchange Knaken announced that it will partner with Ajax and Feyenoord. Knaken will become ‘Official Cryptocurrency Partner’ of both clubs. You can read what this all means in this article.