Crypto Daily News from ZBG Exchange
1. Crypto Long & Short: Traditional and Crypto Markets are Starting to Converge
One of the fun things about jigsaw puzzles, for those of you that haven’t tried them, is the satisfying snap of pieces fitting together to reveal part of a picture. Another is watching the whole picture emerge as more pieces join.
2. Bitcoin Miner Bit Digital Passes $1B Market Cap
Bitcoin mining firm Bit Digital (BTBT) now has a market value above $1 billion, up from $6.2 million a year ago.
Shares of the New York-based company have soared nearly 7,500% in the past year, currently trading just above $25.
3. Long-Desired Bitcoin ETF Could Actually Hurt Price in Short Term: JPMorgan
While a bitcoin exchange-traded fund (ETF) would be a long-term positive, in the short term it could hurt the price of the leading cryptocurrency as it would draw institutional money from the Grayscale Bitcoin Trust (GBTC), currently the only way for some on Wall Street to gain exposure to bitcoin, JPMorgan analysts wrote in a report.
4. Two NYC Bars Could Be Yours for Only 25 Bitcoin or 800 Ether
A New York bar owner is selling his business for bitcoin (BTC) and ether (ETH), which could make it the first cryptocurrency-only restaurant sale in the U.S.
According to the New York Post, owner Patrick Hughes has put the Hellcat Annie’s and Scruffy Duffy’s up for sale and is accepting bitcoin (BTC, -15.42%) and ether (ETH, -19.23%) as a form of payment.
5. Bitcoin Miners Saw 33% Revenue Increase in December
Bitcoin miners generated an estimated $692 million in revenue in December, up 33% from November, according to on-chain data from Coin Metrics analyzed by CoinDesk.
Extending November’s own 48% increase, miner revenues continued to soar as bitcoin (BTC, -11.05%) rallied over 300% last year, briefly trading above $29,000 for the first time ever on New Year’s Eve.
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January 11, 2021