The Latest BTC News From Bybit (Feb 21, 2020)

As ever, it’s been a busy time in the world of Bitcoin recently. Let’s look at some of the biggest recent stories involving the world’s most popular cryptocurrency.

Bitcoin gains traction on Google

Searches for ‘Bitcoin’ and related terms have seen significant spikes on Google searches worldwide in the last few weeks. In fact, searches for the ‘Bitcoin halving’ are (excluding a spike in 2016), at an all time high, with some speculating that this will only increase as we get closer towards the big day.

The searches for Bitcoin is no doubt being helped by an increasing amount of segments on mainstream media, with CNBC recently running an optimistic piece about Bitcoin’s prospects.

Bitcoin halving to happen earlier than expected?

Speaking about the big event, it has been widely assumed that the Bitcoin halving will occur in May 2020. Indeed, the Bitcoin block reward halving countdown clock still has it as happening on May 12, 2020.

However, some are speculating that it will happen earlier than this date because of the increasing hash rate of the Bitcoin blockchain.

Some analysts say the hash rate, which has recently seen all-time highs, is getting so fast that will precipitate the halving to occur earlier than the expected date of May 12, even possibly occurring in late April. However, at this stage, with around 80 days to go until that date, we can only wait and see!

Own 0.28 Bitcoin or more?

Do you own 0.28 BTC or more? Well, according to one investment analyst, that puts you in the top 1% of all BTC owners worldwide.

This may come as somewhat of a surprise, but according to Jake Levison, the data backs it up. In a following tweet, he commented the following:

He alludes to the fact that as the supply of Bitcoin gets more scarce, only 1% of the world would ever be able to own more Bitcoin. This is actually not new knowledge – with former Google Product Director Steve Lee saying this back in 2018. So, congratulations if you are in the top 1%, and if you’re not, you know what you need to do!

Twitter CEO talks up potential of Bitcoin

Twitter CEO Jack Dorsey on February 21st posted a screenshot of a conference call he had with key industry figures about the development of Bitcoin in Africa.

According to CoinGape, the other two participants, Dr Nii Quaynor and Pindar Wong are key internet pioneers in Africa and Hong Kong respectively.

Dorsey has previously expressed his love for Bitcoin and such public statements of loyalty by key internet figures such as him can surely be seen as a positive sign in the quest for the mainstream adoption of Bitcoin in worldwide. Indeed, his affection of Bitcoin is clear from viewing his Twitter handle, with it showing the newly launched Bitcoin Twitter emoji (as of February 21, 2020)

Stay tuned for more news soon from the world of Bitcoin and crypto on the Bybit blog.