Blockchain and Cryptocurrency: People, Culture and Tech
During an interview with market research firm Stansberry Research, O'Leary said that a target price of $100,000 per Bitcoin does not seem improbable to him anymore. O’Leary, who once said he would never invest in Bitcoin, admitted that he has had both Bitcoin and Ether investments since 2017, but “not really been able to speak about it because regulators really frowned on it.”
One of China’s largest bitcoin mining regions, Inner Mongolia’s electricity generation comes largely from highly polluting coal-burning power plants. It accounts for about 8% of the total global bitcoin mining. Yet Beijing has been pushing for more renewable energy for years, as pollution levels grow.
In a recent study, the well-connected Iranian Presidential Center for Strategic Studies suggested that developing a regulated crypto mining industry could help the country circumvent sanctions without spending precious foreign currency reserves, as local buyers could obtain Bitcoin for rials instead of dollars.
Bitcoin posted new weekly highs above $52,000 as a resurgence in positive sentiment combined with persistent institutional buying. Analyzing exchange data, Ki Young Ju, CEO of on-chain analytics resource CryptoQuant, argued that to all intents and purposes, the BTC price dip had finished after its brief visit to $43,000.
