New record for bitcoin that exceeds 66 thousand dollars. For days the cryptocurrency “flirted” with this threshold pushed by the debut on Wall Street of an ETF (a fund that merely replicates the composition of some indices) dedicated to the most famous digital currency. In the last year the bitcoin has more than that doubled its value and the race does not stop despite the skepticism recently expressed by some big names in finance. Last week the CEO by Jp Morgan Jamie Dimon he claimed that bitcoin is “useless”. When asked why he allowed his bank customers to have exposure to digital currency, Dimon replied by making a parallel with cigarettes: “I don’t think you should smoke cigarettes, but our customers are adults“.
In recent weeks, the United States has overtaken China in terms of the number of “miners” or computer structures working on the creation of digital currencies as foreseen by the algorithm that supports the cryptocurrency. Beijing recently imposed bans on cryptocurrency production, triggering a flight to new destinations. According to data from Cambridge Centre for Alternative Finance, between May and July China’s global share of hashrate – the unit for measuring the processing power of the Bitcoin network – has plummeted to zero, while the American one has soared to 35.4%, an increase of 428% compared to September 2020. The share of Kazakhstan, climbed to 18%.
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