The supply of Bitcoin in the hands of satoshi accumulators has increased. Whales have accumulated a balance of about 12 million BTC in the last three years.

A Glassnode report on the evolution of the Bitcoin market says that “it is becoming increasingly difficult to ignore Bitcoin.” According to the study, the supply in the hands of holders with balances less than 1 BTC has grown by 1.23%. However, the document says that the supply varies little in the addresses with a higher balance.

The supply in the hands of holders with more than 100 BTC has remained practically constant in the last three years.

For one thing, Bitcoin peaked at USD 61,578 on March 13^th. On the other hand, the cryptocurrency reached the minimum value of USD 53,686 on March 15^th.

Supply of Holders that Accumulate Satoshis Has Not Stopped Growing

Three years ago, addresses with balances less than 1 BTC accumulated 3.97% of the Bitcoin supply. The supply has not stopped growing as the holders that Glassnode calls “satoshi accumulators” have accumulated an additional 1.23%. For that reason, at the moment, they have a total of 5.20% of bitcoins mined so far.

Holders with balances between 0.1 BTC and 1 BTC have 4% of the supply. Those that have between 0.01 BTC and 0.1 BTC represent 0.99%. The rest, with lower balances, do not reach 0.2%.

Supply in the Hands of Whales Remains Almost Unchanged

Glassnode designates dolphins as holders between 100 BTC and 1,000 BTC. By joining the largest holders (whales), they accumulate 62.62% of the Bitcoin supply.

Whales themselves have a balance of between 1,000 BTC and 10,000 BTC. Humpback whales have between 10,000 BTC and 100,000 BTC, and a tiny group has a balance greater than 100,000 BTC.

The supply that this group of large holders accumulates has remained almost unchanged since 2018. The total that the group has accumulated is about 12 million BTC.

Bitcoin and the Transfer of Wealth between Holders

According to the study, there has been a rearrangement of cold wallets and Bitcoin custodian deals. As part of this, large-balance wallets have experienced BTC shifts between the various holder categories.

Before the all-time high of USD 20,000 in mid-December, there were roughly equal and opposite changes in the largest balances. Glassnode found that (1) the balance of octopuses and fish (between 10 and 100 BTC) decreased by 56,000 BTC, (2) that of dolphins and sharks (between 100 and 1,000 BTC) increased by 331,000 BTC, and (3) that of whales and humpback whales decreased by 307,000 BTC.

There is a slight decrease of 32,000 BTC, that is, only 0.24% of the supply is in the hands of these groups. However, satoshi accumulators managed to increase their balance by 29,800 BTC, proving a transfer of wealth to this group of holders.

According to analyst Willy Woo, Bitcoin is still far from its all-time high of the current bullish cycle. He predicts that the pioneering cryptocurrency will again challenge the price peak above USD 61,000 per unit.

By Alexander Salazar

Cardano creator Charles Hoskinson thought on a possible crypto ban in the United States. He also spoke about Lamborghinis and dogs.

The founder of Cardano, Charles Hoskinson, usually chats with his followers. Hoskinson is always up to answer questions that may arise in the community, both about his project and personal life.

During his most recent A.M.A. (Ask Me Anything), broadcast live yesterday from Colorado, Hoskinson addressed various topics, starting from his Lamborghini to how many dogs he has. It included a short answer to a question about the possible ban of Bitcoin in the U.S., which was under inspection by U.Today.

In various media, there were some reviews of the words of hedge fund manager Ray Dalio, who declared on March 24 that it is very likely that Bitcoin will be illegal in various countries, following the news of the bill that aspires to ban crypto in India. Dalio commented this:

“Each country treasures its monopoly on the control of supply and demand. They don’t want other funds to be operating or competing because things can get out of hand. So I think it’s very likely that under a particular set of circumstances, the way gold proscribes will appear as an outlaw. “

Hoskinson and Novogratz Have not Talked Yet

Hoskinson some time ago agreed to talk with Novogratz, who asked on Twitter about Cardano. Unfortunately, the meeting has not yet happened. Hoskinson revealed at the A.M.A. that he has yet to have a conversation with Galaxy Digital C.E.O. Mike Novogratz:

“We have not received a phone call yet, but we will. I’m happy to talk to Dalio and talk about the A.D.A. (or whatever interests him).

He further advised the community to have no hope that Novogratz will jump on the A.D.A. train, claiming that he is drinking from “Ethereum Kool-Aid.” In this regard, he stated:

“Maybe we can convince you that Cardano is an actual project. He probably drinks Ethereum Kool-Aid and thinks we are a scam, and I am a pathological liar. “

Lamborghinis, Dogs, and Other Relevant Issues about Hoskinson

As a good member of the crypto community, they also asked him about his Lambo and its model. He said: “A matte black Huracán Evo and I love it, it has titanium, exhaust pipes and makes a lot of noise, one of these days I’m going to die deaf.”

Users also asked him why he had a Lambo if he didn’t seem like a materialistic person? To which he replied: “I like to drive very fast. I used to have a motorcycle, I enjoyed it, but it seems a bit dangerous to me now, so a Lamborghini is a good compromise. I enjoyed one for a consulting job that I did that I kept for the family. One of those days it will kill me, but not today”.

Other questions Hoskinson attended were as varied as which video games associated with Cardano he plans to work. Users also told him that the microphone he used in the video conference was the same one used by Michael Jackson in Thriller.

By: Jenson Nuñez

The executive said the pandemic brought urgency to innovations. Recent research rejects that Bitcoin mining may cause harm to the planet.

Christine Lagarde, the actual president of the European Central Bank (ECB), said today, March 25, that innovations in the world of finance are pretty necessary. However, in cryptocurrencies like bitcoin (BTC) and other technological advancements, advancements have a downside.

For Lagarde, cryptocurrency mining’s environmental footprint is not a very quiet side of the industry. During her participation in the virtual panel, “How can innovation support sustainable growth?” The Bank for International Settlements organized as part of the Innovation Summit.

At the beginning of her speech, the executive pointed out: “the environmental footprint of cryptocurrencies, very celebrated at the moment, is also something that appears to make life on the negative side of these innovations.

The president also mentioned advances such as solar panels or batteries for electric vehicles that, in her opinion, it is still unclear what to do with them after their useful life.

Digital Currencies and Distributed Ledger Technology (DLT) Could Improve the Payment System

Lagarde considered that digital currencies, smart contracts, and distributed ledger technology (DLT) could improve the current payment system. Something she shared with his fellow panelist, Mark Carney, the UN’s special envoy for climate action.

Both speakers agreed that Bitcoin technology is essential to achieve better mutualism between the international payment systems. In other words, executives see these advances as elements to improve the existing system, not to generate a disruptive one.

Lagarde admitted that central banks are often seen as very conservative, something he justified by saying that institutions must maintain stability. However, she made clear that technological advances are a very intimate feature of financial institutions.

The debate reached a climax when they got into climate change and the sense of urgency left by the COVID-19 pandemic on innovations in the international financial system. The intention is to meet the growing needs but at the same time ensure sustainable growth.

Bitcoin Mining appears to be Positive for the Environment

Unlike Lagarde’s point of view and widely held opinions about the environmental impact of Bitcoin mining, recent studies clarified that the activity contributes to reducing the carbon footprint. In February, an investigation from ARK Investment Management showed that mining bitcoins is not harmful to the Environment but the contrary.

“Bitcoin shows a lot more efficiency than traditional banking and gold mining on a global scale. Traditional banking consumes 2.34 billion gigajoules (GJ) per year and gold mining 500 million GJ. In contrast, Bitcoin consumes 184 million GJ, less than 10% and 40% of traditional banking and gold mining, respectively,” Highlighted the researcher.

Another fact that refutes Lagarde’s reflections appeared in September 2020. The oil multinational Equinor announced that it would eradicate an annual emission of 20,000 tons of Co2. The company said it would sell the gas as a by-product to generate power in Bitcoin mining.

By: Jenson Nuñez

Payments with Bitinium (BTN) and five other cryptocurrencies are now available to SimpleTV users. This company replaced DirecTV, which stopped working in the country in May 2020.

Joining other companies in the country, Venezuela’s largest satellite television operator SimpleTV now accepts payments with Bitcoin and other cryptocurrencies. That allows more than 4 million users of the company that replaced DirecTV to choose to pay with crypto assets.

The SimpleTV online platform shows the new option for its users to pay for the television packages through Cryptobuyer. The Panama-based cryptocurrency payment provider has a large presence in Venezuela, according to local media.

The users of this satellite television operator can choose to pay with Bitcoin in their express recharge system. They can also use the other supported cryptocurrencies: Ether (ETH), DASH, Litecoin (LTC), Cryptobuyer’s XPT token, and the stablecoin Tether (USDT), on the Tron network.

Using Cryptocurrencies to Face the Lack of Cash

Jorge Farías, the founder and CEO of Cryptobuyer, said that they have taken an important step. He adds that it pays for the possibility to access entertainment and information amid the COVID-19 confinement. The diversification of payment methods has become a strategic solution given the lack of cash in Venezuela.

Just a few months after entering the market, SimpleTV inherited DirecTV’s customer base. The former provider of satellite television service left the country in May 2020. At that time, AT&T, the headquarters of the US-based operator, announced the immediate cessation of operations in the South American country.

Other Businesses Have Been Accepting Payments with Bitcoin

More Venezuelan businesses and companies have been adding Bitcoin and other cryptocurrencies to their forms of payment. The list of the names that have joined the wave has been increasingly growing.

Supermarket chains such as Excelsior Gama (in Caracas) and Sigo and Rattan (on Margarita Island) accepted payments with cryptocurrencies before SimpleTV. Well-known franchises such as Pizza Hut and Venezuelan government services also began to accept Bitcoin in 2020. That was one of the most active years regarding the adoption of cryptocurrencies for the country.

Growth in the Adoption of Bitcoin in Venezuela

There was an exponential increase in the acceptance of Bitcoin for everyday payments in the South American country in 2020. Many large businesses have used the Cryptobuyer payment gateway services, which has had a lot to do with these advances.

This company’s partnership with Mega Soft was one of the biggest milestones of the year. The latter is the main supplier of points of sale in Venezuela, of which 500 are active. The agreement between both companies has allowed receiving payments with cryptocurrencies through more than 30,000 points of sale.

Venezuela is the second country in the world to adopt cryptocurrencies and the third by trading volume, according to data from Chainalysis. The growing inflation of the country’s fiat currency has contributed to such a high level of adoption of these forms of payment. At the time of writing this article, the cryptocurrency that Satoshi Nakamoto created is trading at around USD 53,260.

By Alexander Salazar

For the CEO of the HashCash consultancy, bitcoin is the most relevant currency in history. A section of the Indian government cabinet is firmly opposing and rejecting the authorization of cryptocurrencies.

Businessman Raj Chowdhury, chairman of finance consultancy HashCash, claimed that a ban on bitcoin (BTC) would have “disastrous” consequences for the Indian economy.

According to a PRWeb publication, Chowdhury said that BTC is the most crucial currency in history worldwide. He also added that if it does not have cryptocurrency reserves, the Asian country will suffer a severe devaluation of its currency.

Chowdhury, CEO of a company that provides services based on blockchain technology, comes in a context of official uncertainty regarding the regulation of cryptocurrencies in India.

Lately, Finance Minister Nirmala Sitharaman explained that the government did not rule out crypto assets absolutely and hinted at the possibility of authorizing individuals to “experiment with blockchain and bitcoin.”

Something similar had been expressed in February by the Minister of State for Finance, Anurag Singh Thakur. As reported by CriptoNoticias, the official denied that it faced an inspection to ban cryptocurrencies and, instead, clarified that the intention is to curb their illicit use.

Companies Need to Report their Cryptocurrency Holdings

Precisely to combat this illegality in the digital world, on Wednesday, March 24, the Government of India published a statement. It establishes that companies in the country must report their possession of bitcoin and other cryptocurrencies. The measure will be effective on April 1, 2021.

This provision covers all those companies that have carried out crypto-asset transactions in the fiscal year. In this way, they will have to detail their profits and losses and report the exact amount of cryptocurrencies they possess when submitting the report.

Investments Do not Slow Down Despite the Confusion and Uncertainty

Despite rumors of a cryptocurrency ban, Coinbase announced that it plans to start providing services from India. This plan would include IT services, engineering, software development, and customer care operations, as the exchange’s blog post reports.

It is also vital to consider that the Asian country has always been an epicenter in engineering and technological innovation. Without mentioning the rumors of the government’s banning of cryptocurrencies, the company whitewashed its intention to open a physical headquarters as soon as the sanitary restrictions due to the Covid-19 pandemic allow it.

Recently, the world’s most popular cryptocurrency fell to $ 58,956.90 at the start of the Asian session after hitting an all-time high of $ 61,781.83 per unit on Saturday.

Bitcoin’s rise would face an obstacle if India intended to ban digital assets; this is an adverse factor for the unit following high-profile endorsements this year from Elon Musk and even Jack Dorsey, as well as investments from other influential personalities like Goldman Sachs. The value of bitcoin has more than doubled in 2021, after quadrupling last year.

By: Jenson Nuñez

The official said that she was open to dialogue with developers and other players in the DeFi ecosystem. She acknowledges that it is not possible to use regulation to prevent DeFi from developing.

Hester Peirce said that they “need to provide clarity on regulations for people who are trying to develop on these networks.” This notary of the US Securities and Exchange Commission (SEC) was referring to the decentralized finance (DeFi) ecosystem.

This is how the lawyer expressed herself during a discussion on global finance, which included the issue of DeFi protocols. She talked to several experts, among who were representatives of the Bank for International Settlements (BIS).

The official said that she is willing to speak with DeFi protocol developers to hear their positions. She even invited them to talk to her and tell her how they could regulate the use of technology.

It is not possible to use regulation to prevent decentralized finance from developing, the SEC official acknowledged. She explained that it is necessary “to find ways to interact with this technology”, in conformity with legal regulations and standards.

Regulations Should Allow Citizens to Make Suitable Decisions

According to Peirce, regulations are relevant, and developers need to understand this. She stated that they should know that the regulatory work is valuable to them. She added that it can allow them to become part of the growth in this area of the economy.

The lawyer asked her colleagues from other state agencies to “go back to basics” and establish a good regulatory framework. She said that it should allow the citizens that they regulate to interact with each other, through mutually beneficial transactions.

Peirce added that the role of regulators was not to intervene and make decisions for people. She explained that they should establish a regulatory mechanism within which people can make the decisions that best suit themselves.

Peirce has talked similarly about cryptocurrencies and the industry around them on other occasions. This official takes a critical position on the strict regulatory policies of the SEC on the approval of a Bitcoin exchange-traded fund (ETF). She said that adding too many regulatory requirements “is unfair to innovators.”

Regulators Should Not Hurt Investors or Stifle Innovation

“It is true that regulators must understand and analyze new asset classes and technologies. However, excessive conservatism can hinder competition, distort the market, and hurt investors,” said SEC Commissioner Hester Peirce.

Among her listeners were Joseph Lubin, founder of ConsenSys; Sheila Warren, from the executive committee of the World Economic Forum; and David Puth, CEO of Centre. Jon Frost, an economist from the Bank for International Settlements moderated the debate.

All of them agreed with her that state regulations are necessary for the development of the DeFi ecosystem. The same as Peirce did, they argued in favor of a regulatory framework that does not stifle innovation but rather provides space for development.

By Alexander Salazar