Cryptocurrency News Cast 📮 12-08-2020

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24hours Cryptocurrency Market Cap:

📈MarketCap: $357 B
📊24h Mcap %: 3.94%
⚠️Bitcoin Dom: 59.80%
📌Active Coins: 3,690
📍24h Vol %: 9.69%
💲24h Vol: $113 B

Cryptocurrency News Updates :

• Major Business Intelligence Firm MicroStrategy Buys Over 21K BTC
• Coinbase: Batching Bitcoin Transactions Saved Customers 75% In Transaction Fees
• IOTA Will Launch The First Phase of Its “Chrysalis” 1.5 Upgrade
• Hong Kong's Greater Bay Area Is The first Market To Deploy DCEP
• Crypto Relief Fund Organised by Bitcoiners For Beirut Explosion
• India's Newly Formed State Considering Blockchain For E-voting
• Bitcoin Will Be Best -Performing Asset Of The Next 2 Years

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Major Business Intelligence Firm MicroStrategy Buys Over 21K BTC

The world’s largest publicly traded business intelligence firm MicroStrategy has formally adopted Bitcoin (BTC) as its primary treasury reserve asset. MicroStrategy confirmed it had purchased 21,454 BTC for $250 million. MicroStrategy CEO, Michael J. Saylor commented, this investment reflects their belief that Bitcoin, as the world’s most widely-adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash. Read Full on cointelegraph.

Coinbase: Batching Bitcoin Transactions Saved Customers 75% In Transaction Fees

Coinbase said it has saved its customers 75% in transaction fees by batching bitcoin transactions since early 2020. The announcement comes five months after the exchange rolled out Bitcoin transaction batching on both Coinbase and Coinbase Pro. The feature reduces the load on the Bitcoin blockchain network by bundling multiple customer send requests into a single transaction, rather than creating a new transaction for each request. This leads to a reduction in transaction fees. Read Full on The Block.

IOTA Will Launch The First Phase of Its “Chrysalis” 1.5 Upgrade

The IOTA network is preparing to launch the much-anticipated first phase of its Chrysalis upgrade, also known as IOTA 1.5, on mainnet. Chrysalis upgrade will go live on the Mainnet next week. The 1.5 network upgrade is an intermediary step that will prepare the network for a transition to Coordicide or IOTA 2.0. Chrysalis’s first phase is intended to create performance, usability, and reliability upgrades to the current network. Upgrade will enable the network to process 1,000 TPS and institute 10-second confirmation times. Read Full on twitter.

Hong Kong's Greater Bay Area Is The first Market To Deploy DCEP

The retail DCEP app is undergoing the final stages of beta testing in Shenzhen, a representative from the People’s Bank of China told that the first area where the platform would be officially deployed is the Greater Bay Area. The Greater Bay Area is a regional amalgam of Hong Kong, Macau, and Shenzhen, with a combined GDP of $2 trillion that Beijing wants to turn into a unified economic hub. Financial institutions and firms in the region that deal with high volumes of cross-border trade would be first on the list of companies piloting the platform. Read Full on Decrypt.

Crypto Relief Fund Organised by Bitcoiners For Beirut Explosion

A group of Lebanese expats in Europe organized the Crypto Disaster Relief for Beirut Explosion fund, spreading the word on Instagram. The site’s tagline: "Embracing Cryptocurrency services to bypass Lebanon’s corrupted financial system". Palestinian professor and author Saifedean Ammous, who lived in Lebanon for many years, is also fundraising for Beit el Baraka, plus the Lebanese Red Cross. He has raised several thousand dollars’ worth of bitcoin so far. Read Full on CoinDesk.

India's Newly Formed State Considering Blockchain For E-voting

Principal Secretary of Information Technology Jayesh Ranjan said that in the webinar, Indian state of Telangana’s government may persuade experiment on smaller bodies such as civil societies, neighborhoods, and sports associations to conduct internal elections using their blockchain-based e-voting platform. Depending on the possible use-cases observed through these smaller experiments, they may move ahead and convince other state governments to use the blockchain platform. Read Full on Cointelegraph.

Bitcoin Will Be Best -Performing Asset Of The Next 2 Years

The Real Vision chief executive Raoul Pal has been promoting Bitcoin heavily over the past few weeks as he’s begun to realize what future the asset has. He tweets that BTC is likely to see great success in the ongoing macroeconomic environment. He said, BTC will be the best-performing asset of the next two years by a major margin. Pal isn’t the only analyst expecting for Bitcoin to be the best performing asset moving forward, but also a billionaire hedge fund manager Paul Tudor Jones feels the same. Read Full on bitcoinist.