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Texas Bitcoin miners have cut back 90% of their operations during the energy crisis after the state offered $31.7 million in energy credits.  Amid an escalating power crisis driven by extreme weather conditions, Texas has turned to an unlikely ally for energy conservation: Riot Platforms, a major Bitcoin (BTC) mining firm. The state’s power grid operator has awarded Riot Platforms $31.7 million in energy credits for reducing electricity consumption during the ongoing heat wave. The sum eclipses the $9.7 million worth of Bitcoin the company mined in the same period. The credits are commissioned by the Electric Reliability Council of Texas (ERCOT), and it will alleviate immediate stress on the grid while simultaneously lowering Riot’s operational costs.  Riot Produces 333 Bitcoin While Realizing Expanded Benefits of Power Strategy. “August was a landmark month for Riot in showcasing the benefits of our unique power strategy,” said @JasonLes_ , CEO of Riot. ...

This week’s episode of The Market Report discusses the spot Bitcoin ETF that just launched in Europe and why the U.S. still lags behind. In the latest episode of Cointelegraph’s  The Market Report , analyst Marcel Pechman discusses the first spot Bitcoin exchange-traded fund (ETF)  approved in the European Union, which went live on the Euronext Amsterdam exchange on Aug. 15. Despite the seemingly unconventional choice of the Guernsey regulator for its constitution, the fund’s listing on Euronext suggests a strategic maneuver, though its meager 1 million euro launch and unfamiliar management casts a shadow over its appeal. Moving on, Pechman shifts focus to the United States Bitcoin ETF landscape, where the Securities and Exchange Commission (SEC) has once again delayed its decision on approving a spot Bitcoin (BTC) ETF, setting a potential deadline for early 2024. This recurrent cycle of postponements echoes the challenges faced over the past decade. The lack of regulatory clarity in...

Also Read: Binance Delisting Cardano (ADA) And Polygon (MATIC), But’s There’s A Catch advertisement Carlyle Group Advocating For Bitcoin? When Bloomberg reporters asked if The Carlyle Group was pivoting to advocate for the top cryptocurrency, Rubenstein subtly denied the claim. However, the co-founder said he should have bought BTC when the Bitcoin price was around $100, just like Galaxy Digital CEO Mike Novogratz did. Novogratz and a lot of others who bought at $100 or less made a lot of money as BTC went as high as $69,000, he added. Further, Rubenstein said that outside the United States there is a lot of interest in the Crypto Market , despite skepticism from a section of lawmakers and the U.S. Securities and Exchange Commission (SEC). “I don’t think Bitcoin and other popular cryptocurrencies are going away. A lot of people around the world are interested in a currency that keeps the trades private from governments.” ...

Robert F. Kennedy Jr. Bitcoin-Focused Policies During the Heal-the-Divide PAC event, US Presidential Candidate Robert F. Kennedy Jr. outlined several Bitcoin-focused policies including gradually backing the U.S. dollar with Bitcoin and making Bitcoin profits exempt from capital gains taxes. advertisement “My plan would be to start very, very small, perhaps 1% of issued T-bills would be backed by hard currency, by gold, silver platinum or bitcoin.” Kennedy Jr. plans to gradually increase the allocation depending on the outcome of the initial phase. If elected president, his administration will work on policies to reform the financial system, backing the dollar and U.S. debt obligations with hard assets, and growing business and tech jobs in the US. RFK Jr. on fiat currency & #bitcoin pic.twitter.com/J0GC4had9x Recommended Articles Crypto Presale Proje...

Robert Kiyosaki’s Bitcoin Prediction Robert Kiyosaki recently took to Twitter to express his bullish stance on Bitcoin . According to Kiyosaki, he expects the price of Bitcoin to surge to $120,000 in the coming year. advertisement August 22, 2023, in Johannesburg, South Africa, BRICS nations announce gold backed crypto. US $ will die. Trillions of US $ rush home. Inflation through the roof. Buy Gold, Silver. Bitcoin to $120k next year. – Robert Kiyosaki, July 11, 2023 BRICS nations (Brazil, Russia, India, China, and South Africa) are actively exploring the launch of a gold-backed cryptocurrency to challenge the U.S. dollar’s global dominance and explore alternative financial systems. The Russian Embassy in Kenya announced that discussions are underway to introduce a new trading currency backed by gold. Recommended Articles Crypto Presale Project...

Also Read: FTX News: Bloomberg, FT, NYT Appeal Court Decision To Redact Customer Names advertisement Ongoing developments in Russia indicate to a possible feud between Yevgeny Prigozhin, the head of the Wagner Group, and the country’s president Vladimir Putin. The president warned of ‘crushing’ the group’s attempted coup, which involves marching from southern Russia towards Moscow. Russia Civil War & The Impact On Crypto Given that Russia is one of the major supplier of oil, gas and other raw materials to many countries, prospects of a full blown civil war could mean massive impact on global markets. Hence, any dip in stock prices on Monday could potentially mean upside to the Bitcoin price and the altcoins. However, the Crypto Market could take longer to react to the situation, as traders are likely to prefer Bitcoin as safer asset in the wake of global uncertainty. Also, it remains to be seen how long the situation takes t...

Moreover, Bitcoin is considered one of the popular safe haven s after gold and treasuries as the US faces a debt ceiling crisis that could be catastrophic for the global financial system. advertisement Bitcoin Becoming Top Preferred Assets For Investors According to the Bloomberg MLIV Pulse survey between May 8-12, investors will invest in gold, treasuries, and Bitcoin than in traditional haven currencies like the US dollar, the Japanese yen, and the Swiss franc amid the debt ceiling crisis. Bitcoin ’s popularity as safe haven is rising, with 7.8% of professional investors and 11.3% of retail investors prefer to invest in Bitcoin . However, 51.7% of professional and 45.7% of retail investors are willing to buy gold , while 14% of professional investors and 15.1% of retail investors will invest in government bonds. Trending Stories Dogecoin Price Analysis: Will DOGE Price Hit $0.1 Mark Before May 2023 End? 24/7 C...