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Global Bitcoin Adoption News

Global bitcoin adoption news weekly updated

Global Bitcoin Adoption News
Marius

Week of March 18

Bitcoin circular economy

Bitcoin's Lightning Network hits a new capacity all time high

March 11, 2024 - As the price of Bitcoin reaches new highs, the Lightning Network also sets a capacity record, with a 37% increase over the last month, now at $325 million. However, the BTC capacity of the network's bidirectional channels is slightly below its all-time peak, decreasing by 5% last month.

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El Salvador reveals double bitcoin holdings and transferred them to a cold storage

March 15, 2024 - In reality, El Salvador actually holds twice as much Bitcoin as previously announced, with at least 5,689 BTC, roughly $390 million, transferred to a cold wallet for added security. Previous estimates fell well short of reality, with a minimum potential profits totaling around $73 million due to the recent surge in Bitcoin prices.

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Bitcoin mining difficulty hits record high amidst hashrate surge

March 15, 2024 - Bitcoin's mining difficulty has reached an all-time high, with a 5.79% increase to reach 83.950 trillion. This rise is attributable to the growth in hashrate, which peaked at 628 exahashes per second on March 12th. The increase is due to the increased profitability of mining activity with Bitcoin's record prices, as well as the imminent approach of the halving, encouraging miners to take advantage of current rewards before they decrease. This increase attests to the health and enhanced security of the Bitcoin network.

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The court has finally ruled: Craig Wright is not Satoshi Nakamoto.

March 14, 2024 - The British court confirmed that Craig Wright is not Satoshi Nakamoto, the mysterious creator of Bitcoin. This announcement, although anticipated by the Bitcoin community, maintains the mystery surrounding Satoshi. Since 2016, Wright has attempted to convince that he was Nakamoto. The trial also revealed old email correspondences between Nakamoto and key developers, shedding light on his concerns regarding the future of Bitcoin.

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Bitcoin finance

The Bitcoin spot ETFs record $1 billion in net inflows in one day

March 13, 2024 - The Bitcoin spot ETFs achieved a record by recording over $1 billion in net inflows in 24 hours on March 12, 2024. This exceptional increase, equivalent to 14,706 Bitcoins, helped drive Bitcoin's price to new highs, reaching $73,650 and €67,437. Since their launch in January, these ETFs have accumulated a net volume of $10.32 billion.

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Bitcoin spot ETFs amass 4% of total Bitcoin supply

March 11, 2024 - The Bitcoin spot ETFs now hold 4% of the total BTC supply, approximately over 800,000 Bitcoins, following their successful launch in the US market. This accumulation has contributed to tightening the supply of Bitcoin, leading to a significant price increase. Despite ETFs being tightly regulated, it raises questions about Bitcoin network decentralization, though the network's security itself remains unaffected by this concentration.

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