Elon Musk bought Twitter for $44 billion

Elon Musk, owner of Tesla Motors and SpaceX, and the richest man in the world bought the social network Twitter for 44 billion dollars.

Twitter announced last night(April 25th) that it has accepted Mask’s offer.

“Twitter confirms that it has reached a definite agreement on the sale. The company will be fully acquired by the entity owned by Elon Musk for $54.20 per share. The transaction is estimated at about $44 billion.”

Once the transaction is completed, Twitter will become a private company,” Twitter announced last night.

The share price is 38% higher than the stock price

“Twitter shareholders will, in accordance with the agreement reached, receive $52.20 for each Twitter share they own at the time of the agreed transaction.

The purchase price is 38% higher than the stock price of Twitter shares on April 1, 2022, the last day of stock trading before Mr. Musk announced that he had bought a stake of about 9% on Twitter.”, the company said in a statement.

Musk thus became the owner of the platform, which he considers “a public digital place where vital contents for humanity will be discussed”, it is stated in the announcement.

“Freedom of speech is the foundation of democracy,” Musk said.

The mask started to be taken over at the beginning of April

Elon Musk bought 9.2% of Twitter in early April.

Following this announcement, the value of Twitter shares rose by more than 25%.

Mask has become one of the company’s largest shareholders and now owns four times as many shares as Twitter founder Jack Dorsey.

Dorsey’s share is 2.25%.

“Twitter must become a private company”

A week after buying the shares, Musk made an offer to buy Twitter and said that in case his offer was not accepted, he would “consider his position as a shareholder”.

“I decided to invest in Twitter because I believe in its potential to be a platform for freedom of speech around the world, and I believe that freedom of speech is a social imperative for a functioning democracy,” Musk wrote in a statement to the financial regulator.

“However, after I invested, I realized that the company in its current form will neither progress nor serve this social imperative.

Twitter must become a private company. He has huge potential, and I will release it.”, he added.

It has more than 80 million followers on Twitter

Mask is one of the most popular Twitter users, with more than 80 million followers.

He often publishes details about his companies, which is why he has been accused of manipulating the market on several occasions, and several investigations have been launched against him.

In the weeks before he took over 9% of the shares, Musk posted about Twitter and the algorithms that drive the platform.

On March 24, he wrote that he was concerned about de facto bias in an algorithm that has a major impact on public discourse and shared a poll urging his followers to vote on whether the algorithm should be open source.

Mark Zuckerberg confirms that NFTs are coming to Instagram

Following rumors that Facebook and Instagram are planning to enter the NFT world, the CEO of Meta has now confirmed these plans.

Speaking at the SXSW festival, Mark Zuckerberg confirmed that non-fungible tokens(NFT) will arrive on Instagram “in the near future”.

“We are working on bringing NFTs to Instagram in the near future,” he said.

He did not specify what exactly it would look like, but he suggested that people could show their existing NFTs and potentially make new ones.

NFT is a type of cryptocurrency that allows various works of art on various media and sites to be “tokenized” and sold through digital commerce mechanisms.

Zuckerberg and other senior executives have previously expressed interest in NFT, and Instagram CEO Adam Mosseri said the company is “actively researching” the technology.

Zuckerberg also said that NFTs could one day play a significant role in the eventual metaverse of the company.

“I hope you know, the clothes your avatar wears in the metaverse can become NFT and you can wear it in different worlds.

“There are a lot of technical things that need to be worked out first before it really happens,” Zuckerberg said.

The price of Bitcoin jumped after Biden’s directive on cryptocurrencies

Biden’s order will require the Ministry of Finance, the Ministry of Trade, and other key agencies to prepare reports on the “future of money” and the role that cryptocurrencies will play, Reuters points out and adds that the directive increases the possibility of accepting virtual currencies in the American financial system.

Experts believe that the establishment of a regulatory framework for digital assets is necessary in order to combat illegal financing and prevent risks to financial stability and national security.

Last year, the White House announced that it was considering broad surveillance of the cryptocurrency market in order to try to solve the growing problem of ransomware and other types of cybercrime.

Bitcoin rose 9.1 percent to $42,280 on March 10 and is on track to achieve its highest percentage gain since February 28.

The jump in Bitcoin in the midst of the sharp rise in the value of digital tokens was prompted by optimism about the US audit of cryptocurrency surveillance, which US Treasury Secretary Janet Yellen called “historic”.

Yellen praised Biden’s directive, saying it strikes the right balance between fostering innovation and addressing potential risks. According to Bloomberg, that stimulated the mood in the industry, which has been looking for a better regulatory direction for a long time.

“For years, the crypto market has been hampered by a lack of regulatory clarity in the United States,” said Hayden Hughes, chief executive of social media trading platform Alpha Impact.

President Biden’s executive order, Bloomberg adds, instructs government agencies to investigate a number of topics in more detail, and calls for studies and policy recommendations on issues ranging from consumer protection to climate change.

Officials will also need to develop a framework for working with international partners to set standards for digital assets.

The agencies will have a period of 90 days to a year to complete the reports, depending on the problem, after which the administration, as it announced, will quickly implement the recommendations.

The crypto market learned overnight about Biden’s long-awaited executive order, which he signed on Wednesday, March 10, after the Ministry of Finance accidentally issued a statement the day before welcoming Biden’s move and announcing certain details in advance.

An important part of Biden’s directive is consumer protection, the American television channel points out, adding that countless stories have been recorded so far about investors who fell for crypto fraud or lost huge sums of money through cyberattacks on stock exchanges or users themselves.

The Biden administration wants regulators to “ensure sufficient oversight and protection against any systemic financial risks posed by digital assets.”

Another area that Biden’s executive order focuses on is climate change so that the government can study ways to make crypto innovation “more responsible” by reducing all negative climate impacts, especially since cryptocurrency requires more computing power.

According to CNBC, that caused an alarm for policymakers around the world, and last year China even completely banned cryptocurrency mining, which led to the exodus of crypto miners in the United States and other countries, such as Kazakhstan.

The White House directive also focuses on giving the United States a competitive advantage over other countries, which is especially significant now that China has banned cryptocurrencies.

Biden instructed the Department of Commerce to “establish a framework for fostering US competitiveness and leadership in digital asset technology and technology exploitation.”

Finally, CNBC points out, the Biden administration also wants to investigate the digital version of the dollar. The US Federal Reserve began work last year on research into the potential issuance of the digital dollar.

The central bank has released a long-awaited report detailing the advantages and disadvantages of such virtual money but has not yet taken a position on whether it thinks the U.S. should issue it.

Biden’s executive order for a comprehensive review of the government’s approach to cryptocurrencies aims to ensure the nation’s position as a leader in a fast-growing industry while reducing risks to consumers and the financial system itself, the Washington Post said.

Russia’s invasion of Ukraine has sharpened Washington’s focus on the benefits and dangers of digital currency, the paper points out. Since the beginning of the war, tens of millions of dollars have been collected in cryptocurrencies as donations to Ukraine.

Meanwhile, some U.S. policymakers have expressed concern about the possibility of Russia using cryptocurrencies to avoid sanctions, although others see it as an unprofitable option.

A revision of the US government in access to cryptocurrencies could, the Washington Post points out, result in a better regulatory response to the growth of digital assets in the global market, which is now estimated at almost two thousand billion dollars.

While industry leaders hail the White House order as a victory for the sector, US officials believe the order and the work that follows will “strengthen US leadership in the global financial system and protect the long-term effectiveness of critical national security instruments such as sanctions and anti-money laundering frameworks.”

While advocates of cryptocurrency welcome Biden’s order and its recognition of the positive elements of the industry, crypto skeptics see the executive order as a step backward in the process of its regulation, the Wall Street Journal points out.

The crypto industry in the USA led an intensive lobbying campaign last year in order to prevent more aggressive regulation of digital assets, the paper points out, referring to this week’s report of the consumer protection organization Public Citizen, which states that the number of cryptocurrency lobbyists has almost tripled from 115 in 2018 to 320 in 2021.

The costs of the lobbying sector, the report said, rose from $2.2 million to $9 million. Industry lobbyists say crude regulation would risk pushing most of the cryptocurrency market abroad.

On the other hand, adds the Wall Street Journal, financial regulators have been studying cryptocurrencies for years. The Financial Crime Implementation Network of the Ministry of Finance issued guidelines in 2014 on cryptocurrency payment systems.

The Securities and Exchange Commission has taken a number of coercive actions against individuals and entities in the sector, while the Commodity Futures Trading Commission has launched an initiative to study cryptocurrencies and other technological innovations in 2017.

Some experts argue that market participants hoped for more concrete direction and policy decisions rather than a directive requiring research, evaluation, and coordination within certain deadlines, while investors worry that an executive order called “Ensuring Responsible Digital Asset Development” will provide an opportunity for distribution of existing regulations.

Bitcoin Now More Valuable Than Ruble – It entered the top 15 currencies with the largest capitalization

The most important cryptocurrency on the market managed to position itself above the ruble on the global scale of currencies with the highest capitalization, after a sharp fall of the Russian currency to the lowest values seen in the last 30 years.

The simultaneous recovery of the price of Bitcoin of almost 15 percent in the last few days later raised it above the capitalization of the Mexican peso and the Thai baht.

With this increase, Bitcoin enters the top 15 most valuable currencies, surpassing the national currencies of countries such as Saudi Arabia, Israel, and Sweden.

The next opponent to win is the Swiss franc. A growth of about 50 percent would be needed for Bitcoin to win a new step on the global scale.

If Bitcoin is compared to the market capitalization of the world’s largest companies and commodities, the cryptocurrency has already surpassed the overall market capitalization of all palladium in the world. It is the ninth most valuable asset in the world, surpassing Meta, Berkshire Hathaway, Visa, MasterCard…

Tesla ahead of Bitcoin, gold still on top

Above Bitcoin is the electric car maker Tesla – which has large amounts of money invested in Bitcoin – and then silver as a commodity with a capitalization above $1.3 trillion.

The entire crypto market would rank fifth with a total value of $1.9 trillion. Gold is the undisputed king with a capitalization of $12.1 trillion.

Current events in Ukraine have occupied the attention of cryptocurrency communities. According to estimates, Ukraine has received around $50 million in funding so far in cryptocurrencies alone.

Bitcoin trading, on the other hand, has risen sharply among Russians, who are protecting themselves from the devaluation of their own currency.

The crypto world has a winner, and that is not Bitcoin: a jump of 400 percent

Crypto wars will continue on the market this year as well.

Last year brought many surprises to the cryptocurrency market, including a new leader.

The three main cryptocurrencies in 2021 – Bitcoin, Dogecoin, and Shiba – have remained somewhat in the shadow of Ether, which has grown by more than 400% this year.

While the others gained momentum, Ether seemed to attract the attention of the market.

As of Friday, December 31, it has increased by 410%. It traded around $3,730 per coin.

Although much smaller than Bitcoin, it is still far ahead of any other cryptocurrency on the market, including Twitter favorites and Dogecoin.

Although it is still the largest cryptocurrency in the world by market capitalization, Bitcoin has added only 60% compared to them this year to date.

It ended the year in the green, but below the projected $50,000.

While some analysts say Ether’s original blockchain, Ethereum, has become too expensive in terms of transaction fees, others believe it has a bright future, especially after the platform unveiled its ETH2 upgrade in August, which improves fees.

Experts believe that this year will bring more good news for Ether.

“Smart contract platforms are able to create financial applications such as Legos. Every new Lego added to Ethereum makes building a better network”.

Bitcoin is facing an uncertain 2022 after a record year

The price of Bitcoin reached record levels in 2021 thanks to the support of traditional financial institutions, but cryptocurrency experts are struggling to predict the outcome next year for this variable sector.

Having more than tripled in value to $60,000 between December 2020 and April this year, Bitcoin lost momentum to trade below $50,000 before the new year.

“The current volatile and disproportionate price action with the possibility of further downward pressure has brought a lot of uncertainty to the digital property market,” said Lucas Lagudis, executive director of the cryptocurrency investment fund ARK36.

He added, however, that “the sustainable adoption of digital assets by institutional investors and their further integration into old financial systems will be the main drivers of crypto space growth” during 2022.

The rise of Bitcoin in 2021 coincided with Wall Street’s growing appetite for cryptocurrencies.

The record value in April happened with the debut of the cryptocurrency exchange Coinbase.

The October peak above $66,000 followed the launch of a fund that trades on Bitcoin futures(ETFs), or a type of financial instrument, on the New York Stock Exchange.

Tesla’s CEO, Elon Musk, has helped the market rise – but also fall – with controversial cryptocurrency tweets.

El Salvador’s move in September to make Bitcoin a legal tender in the country also drew attention.

But the pressure has also come from China’s dealings with cryptocurrency trading and mining, while the risk of broader regulatory action, such as Europe and the United States, is straining Bitcoin.

“One thing is for sure, the voices calling for crypto-regulation, whether it’s for stricter consumer protection or just clarifying rules for institutions, are getting louder,” said Huong Hauduc, general adviser at the Bequant digital media exchange.

Created after the global financial crisis in 2008, Bitcoin initially promoted the libertarian ideal and sought to overthrow traditional monetary and financial institutions such as central banks.

In recent times, activists fighting climate change have drawn attention to the huge amount of electricity used to power computers needed to mine new Bitcoin tokens.

According to some analysts, Bitcoin is in danger of increased competition as it enters 2022, especially from its closest rival Ethereum.

In November, Twitter co-founder and CEO Jack Dorsey announced his departure from the social media platform, with the intention of dedicating himself to his digital payment company, which wants to expand to cryptocurrencies.

According to the specialized site CoinGecko, the cryptocurrency sector has a total market value of 2.36 trillion dollars, while Bitcoin alone is worth 900 billion dollars, reports Gadgets 360.

For analyst Frank Downing, “Bitcoin’s reluctance to evolve its design” compared to Ethereum is, in fact, “a feature that provides the stability and consistency needed to serve as real global money.”

Shiba Inu surpasses Bitcoin and Ethereum and ranks as the most popular cryptocurrency in 2021

Shiba Inu, a meme-based cryptocurrency, was named the most popular cryptocurrency on CoinMarketCap, surpassing Bitcoin, Ether, and Dogecoin, and became the most-watched coin in 2021 on the platform.

With a market capitalization of over $20 billion, Shiba Inu is the thirteenth largest cryptocurrency in terms of evaluation.

In October this year, the SHIB token jumped more than 216 percent within a week, reaching a new all-time record of $0.000088.

Currently, each SHIB token is traded for $0.00003823.

In the post “2021 Wrap Up”, CoinMarketCap tweeted that Bitcoin, Dogecoin, Cardano, and Ethereum followed Shiba Ina on the popularity index in the second, third, fourth, and fifth positions.

The mem coin, originally created as a joke to rival Dogecoin, became the 11th largest cryptocurrency coin at market value on October 25.

Contented SHIB miners rub their hands, as Shiba Inu has seen a growth of around 800% in October of 2021.

The Shiba Inu coin isn’t mineable per se, but there is a way to mine Shiba Inu in 2021.

On December 3, Canadian online medical service provider Ask The Doctor announced that it had added $1.5 million to Shiba Inu tokens in its balance sheet, preparing to start accepting them as a payment option from its partners.

The American cinema chain AMC is also considering accepting Shiba Inu tokens as a payment option.

Earlier this year, the SHIB token also emerged as the most popular cryptocurrency on Twitter, according to research firm ICO Analytics in a recent report.

According to CoinMarketCap, Shiba Inu holds 1,090,840 wallet addresses, of which 14,645 are active addresses.

The coin is listed on 447 stock exchanges worldwide.

Ethereum reminds GPU miners that the end is near

The final steps required to finally merge the Ethereum network, which will end GPU mining is near.

A new test network has been formally opened, which has the role of testing how everything works and correcting potential problems that may arise when switching from Proof-of-Work (POW) to Proof-of-Stake (POS) concept.

Essentially, this means that players will no longer have to compete with graphics card miners, as they will no longer be needed to maintain a blockchain network.

This year was incredibly favorable for all those who mined Ethereum – CoinMarketCap shows an increase in price from about $730 on January 1, 2021, to about $4,100 at the time of writing.

In addition, the popularity of the NFT concept further pushed the Ethereum hash rate, so miners had their hands full.

The beginning of the end for the miners, the modernization of the network for everyone else

The transition to the Proof-of-Stake model will no longer rely on miners to maintain the integrity of the Ethereum blockchain, although this transition has been moved from the end of 2021 to the first half of 2022.

The aforementioned transition known as the Great Merger(Ethereum 2.0) will be done by the Ethereum Foundation, otherwise responsible for the maintenance and all major changes to this network.

With the opening of the test network, the development team behind the Ethereum Foundation announced that the test network serves so that everyone who uses the Ethereum blockchain can try and get acquainted with the work of the network after the merger.

Once the feedback is incorporated into the client software and specifications, the final test network will be launched.

After all the updates are done and stability is checked, the main Ethereum network will start the transition to the Proof-of-Stake model.

Basically, clients will switch from the existing POW to the POS concept, to determine the validity of the last Ethereum block, but all other functionalities, EVM (Ethereum virtual machines), and the way transactions are executed will remain the same.

After the merger, currently, Eth1 and Eth2 clients become the executive level and the consensus level of the Ethereum blockchain.

The Ethereum Foundation has shared the various tasks that need to be done to get the main network ready for the Great Merger.

Of course, that means there is still a lot of work to do, so miners don’t need to panic yet, but it seems that we are getting closer to the day when enthusiasts and gamers will no longer have to compete with Ethereum miners to buy graphics cards from resellers.

90 percent of the total Bitcoin has already been mined, but the rest will be mined in 120 years

Within 13 years of existence, 90 percent of the 21 million Bitcoins that should arrive have already been excavated.

But a new report now claims it will take 120 years to dig up the remaining 10 percent of Bitcoin tokens.

Currently, 18.9 million Bitcoin tokens are in circulation, and 2.1 million are left for mining.

According to a Blockchain.com report, “bitcoin halving” is the reason why it is predicted that the last 2.1 million Bitcoins will take more than a century to be part of circulation.

Bitcoin halving refers to a pre-programmed event that happens every 210,000 blocks, in the current situation which is approximately four years from today.

This process reduces the Bitcoin inflation rate by half and the speed at which new tokens enter circulation.

“Due to regular halving events, difficulties with self-tuning and other pre-programmed functions, it is estimated that this will take time and that 21 millionth Bitcoin will be created as far back as 2140,” CryptoPotato reported, citing a Blockchain.com report.

The halving of Bitcoin also halves the reward for the block that miners receive.

In 2009, this block award for miners was 50 bitcoins per block.

It has currently fallen to 6.25 Bitcoin.

Satoshi Nakamoto is the pseudonym of an unknown creator of Bitcoin who dug up his first token in 2009.

At the time of the creation of Bitcoin, Nakamoto decided to limit the supply of Bitcoin to 21 million tokens.

Today, Bitcoin has become the largest cryptocurrency with a market value of 922 billion dollars.

According to CoinMarketCap, 39,738,251 crypto wallets contain Bitcoin tokens.

Of these, 963,625 are active wallets.

The first 100 owners own 13.21 percent of Bitcoin’s coins in circulation.

Nakamoto also added a mining difficulty adjustment feature to ensure a stable Bitcoin production rate.

“Essentially, it’s a process that happens every 2,016 blocks(two weeks) that makes it harder or easier for miners to work,” the report added.

As the rewards for the blocks decrease and the adjustment becomes more and more difficult to break, the miners will have to make additional efforts for smaller rewards.

Now, despite the fact that a total of 21 million Bitcoins are expected to be mined in the next century, not all tokens will reach the open market.

So far, over 3.5 million Bitcoins have been “lost” due to lost private keys or even the death of the owner.