Bitcoin Billionaires Texas Mining – Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides

Last Week In Bitcoin is a new segment covering the week that occurred in Bitcoin, with all the important bits and some analysis.


Despite what the charts and current price may say, last week was a bullish week in Bitcoin. Billionaire Ray Dalio confirmed he is holding bitcoin, activist investor and former bitcoin doom prophet Carl Icahn expressed interest in pursuing crypto in a “big way” and Texas pushed through a bill that will provide a legal framework for bitcoin in the state, paving the way for Texas to become a crypto hub. China and Iran cracked down on bitcoin mining for the umpteenth time, and prominent investors Elon Musk and Michael Saylor announced formation of their Bitcoin Mining Council.


A Chart To Consider

The chart above, courtesy of Bloomberg’s Global Macro Investor platform, compares bitcoin’s performance between 2010 and 2013 to between 2016 and now. As you can clearly see, we’re still overdue for a decent bull run which could likely peak somewhere around $400,000.

Of course, there are a lot more eyes on bitcoin this time around compared to a decade ago. The fear, uncertainty and doubt has increased as the media, billionaires, and many others pile on the anti-crypto sentiment. As we’ve seen over the years, bitcoin is a global community and its sole focus is a decentralized financial system where the power is in the hands of the people. Some might say even negative news is good news as it will introduce new people to the idea of bitcoin, and as they research it they may very likely decide to invest themselves.

This news is republished from another source. You can check the original article here

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