Friday, October 15, 2021

Bitcoin Price at Oct 16, 2021: 61,650 USD

CNBC Television shows Carter Worth of Worth Charting on where bitcoin is headed now that it's crossed over $60,000. With CNBC's Melissa Lee and the Fast Money traders, Tim Seymour, Steve Grasso, Pete Najarian and Mike Khouw.

Bitcoin certainly crossed $60,000, and the Chartmaster lays out where it's headed next.

Bitcoin Price at Oct 16, 2021: 61,650 USD

Bitcoin certainly topped US$60,000 for the first time in 6 months on Friday, nearing its all-time high, as hopes grew that USA regulators would allow a futures-based exchange-traded fund (ETF), a move likely to open the path to wider investment in digital assets.

It seems that the first bitcoin futures ETF in the USA is set to begin trading next week. An exchange-traded fund is a type of investment fund and exchange-traded product, i.e. they are traded on stock exchanges.

It seems that MicroStrategy’s Bitcoin Bet Doubled to $6 Billion as Price Soared. MicroStrategy Inc. has benefited. The overall value of the company’s holding of the cryptocurrency has doubled. The enterprise software firm held approximately 114,042 Bitcoin as of Sept. 12, acquired at an aggregate purchase price of $3.16 billion and an average price of $27,713 per token, inclusive of fees and expenses. That investment is now valued at about $6.7 billion, with the price of the digital currency topping $60,000 Friday as it approached impressive record highs. 

Bitcoin technology is interesting. A transaction is a transfer of value between Bitcoin wallets. This gets included in the block chain. Bitcoin wallets keep a secret piece of data called a private key or seed. This is used to sign transactions, providing really a mathematical proof that they have come from the owner of the wallet.

Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. A "mining rig" is a colloquial metaphor for a single computer system that performs the necessary computations for mining. This proof of work is verified by other so-called Bitcoin nodes each time they receive a block.

You could use your computer's CPU to mine for bitcoins. In reality, this would be pretty slow and there is really no point. You can enhance your bitcoin hash rate by adding graphics hardware to your computer. Graphics cards really feature graphical processing units (GPUs).

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