It’s been a turbulent but fascinating few weeks for Bitcoin, the world’s most popular cryptocurrency. Let’s look at some of the biggest recent stories that have piqued our interest.
Bitcoin bounces back
If you have more than a passing interest in Bitcoin, unless you have been under a rock, you will almost certainly have noticed the extreme volatility it has experienced recently. Despite this being a well-known trait of the cryptocurrency, recent world events have contributed to some noteworthy price swings.
On March 12th, the price of Bitcoin dropped 50% in one day, quite remarkable even by Bitcoin’s standards. However, since then, it has been on a steady recovery, and as of 19.00 UTC on March 20, was threatening to break the $7,000 mark. Let’s see where it goes from here..
Italian bank opens its doors to Bitcoin
Amidst the Coronavirus crisis that is currently enveloping the globe, Italian bank Banca Sella has enabled Bitcoin services for its customers. The bank is known for its innovation, and through its Hype platform, customers will be able to buy and sell Bitcoin, and pay for goods. This will give access to some 1.2 million Italians to the world of Bitcoin, and it is hoped that the move will encourage more to get on board, with the Hype platform also allowing customers to send Bitcoin to people in their contact book via smartphone, in a country which has been one of the worst hit by the crisis.
0.1 BTC holders reaches all-time high
The amount of addresses holding at least 0.1 BTC has reached an all-time high:
It seems that the recent price drop may have prompted some to take the BTC plunge, and inevitable that the 3 million mark will be reached soon.
Self-proclaimed Bitcoin inventor in court battle
Australian businessman Craig Wright, who claims to be behind the pseudonym of the inventor of Bitcoin, Satoshi Nakamoto, is currently involved in a court battle against his former business partner – and has now been ordered to pay $165,000 legal fees by a U.S. judge.
The Kleiman vs Wright lawsuit, which was launched in February 2018, centers on allegations that Wright manipulated BTC assets and intellectual property.
There has long been debate on whether Wright is actually telling the truth or not about his Bitcoin creator status. Either way, his claims, and the story behind the current lawsuit, make for fascinating reading. His claims include issuing all 21 million Bitcoin, with nodes being ‘’agents to my network’’, and a digital signature supposedly used by Nakamoto, which has divided opinion in the world of Bitcoin.
Stay tuned for more news soon from the world of Bitcoin and crypto on the Bybit blog.