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How Coinbase, Square and Fidelity will support Bitcoin
To contribute to Bitcoin and crypto regulation, 4 prominent partners have formed the Crypto Council for Innovation (CCI). Created by investment firm Paradigm, crypto exchange Coinbase, payment processor Square, and investment firm Fidelity Digital Assets.
The initiative aims to lobby on behalf of the cryptocurrency industry, conduct research, and promulgate the benefits of this asset class as well as its underlying technology to society. In a post via its Twitter handle, the Crypto Council for Innovation claimed:
We’ll provide useful information – and dispel misinformation – for policymakers, regulators, and citizens around the world. We all want the same thing from technology: to create better lives for human beings. The road to making that happen is paved with high quality information.
Supply crunch incoming? Bitcoin miners stop selling
Bitcoin continues to consolidate in the high $50,000 area, meanwhile, its fundamentals are strengthening and seem to point towards a price breakout.
Analyst Ali Martinez has shared data from Glassnode to predict the timing for a new BTC price rally. According to the analyst, when the cryptocurrency surpasses the 1 million threshold in the metric Entity-Adjusted Dormancy Flow, historically BTC “goes parabolic.”
Despite Bitcoin’s nearly 1,500% increase in a year, it is still below this threshold. The analyst stated:
Despite the 1,465% surge that $BTC experienced since the March 2020 crash, the Bitcoin Entity-Adjusted Dormancy Flow has yet to move past the 1M threshold. When and if it does, #BTC could enter a new parabolic phase posting more gains than what we have already seen.
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Rapper Distributes $1M In BTC $11 Apiece, With Twitter Going Nuts About It
Last Updated: 18 December 2020
Megan Thee Stallion, a popular rapper, has recently made a partnership with Cash App, Square’s crypto-friendly payments application. The Grammy-nominated rapper announced that she would distribute $1 million in Bitcoin, about 43.44 BTC in total in current pricing.
Giving Out $11 In Bitcoin
The promotional campaign was announced by way of Twitter, with Megan’s post receiving more than 8,800 retweets and over 60,000 likes. The tweet itself, posted on the 17th of December, had Megan encourage her followers to post #BITCOINMEG in order to take part in this new giveaway.