Gold Companies are Rushing into Bitcoin
A number of companies specializing in selling, buying, managing or mining gold, with a combined market cap of billions, have recently announced their expansion into the Bitcoin arena through mining, selling, storing or accepting bitcoins for gold. Netagio, founded by GoldMoney which specializes in selling and storing gold with a market cap of approximately two billion dollars, today announced its launch of a new three-way exchange of bitcoin to gold to pounds, allowing users to buy, sell or store either of the three assets or interchange them in a peer to peer exchange. The British based....
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Financial services company Bitreserve, which allows customers to hold funds in U. S. dollars, euros, pounds, yen and yuan, is now presenting gold as a non-fiat currency for users. Bitreserve members now have the option of holding gold through their Bitreserve accounts and exchanging it for bitcoin. Bitreserve's blog recently states: "Today, gold is considered by many to be the safest and most stable store of value... We are reviving gold for the purchase of goods and services. Bitreserve members can convert their bitcoin to bitgold, whose value is substantiated by bullion in our reserve,....
Welcome back to another Bitcoin News in Review, where we feature some of our biggest stories of the week on CCN. This week, we discovered that several gold companies have shown an interest in Bitcoin, that the Mt. Gox saga still isn't over, that Andreas Antonopoulos has left the Bitcoin Foundation, and more. Check out this week's Bitcoin News in Review after the break. Gold Companies are Unsurprisingly Interested in Bitcoin. Is bitcoin the new gold? Bitcoin and gold share many similarities. They are both inherently limited, have to be "mined", are deflationary, and can act as a store of....
PAX Gold did most of the weightlifting in pushing the gold token market cap above the $1 billion-milestone, outperforming Tether Gold. The market capitalization of gold-backed crypto tokens increased by 60% in 2022 to surpass $1 billion for the first time in history, according to Arcane Research in its latest weekly report. Gold shines, Bitcoin disappointsIn 2022, investors have been rushing to the perceived safety of gold-backed crypto assets, whose value is pegged to the price of gold. Namely, PAX Gold (PAXG), Tether Gold (XAUT), and similar precious metal-backed digital assets have been....
Why do ASIC mining hardware manufacturers give their products names like Klondike and GoldStrike? It's because bitcoin mining is like a gold rush. People are rushing to stake a claim to a limited resource, and they need the best equipment that they can to mine it. After GPUs and FPGAs, the rush is on to produce ASIC-based miners that are faster and more power efficient than their predecessors. The market is flooded with vendors promising the next, greatest ASIC hardware. But all that glitters is not gold. Here is a roundup of what's on offer (and what's actually shipping, which isn't....
Although VC funds have been rushing to support various crypto startups, much of that money has not gone to Bitcoin-focused companies.