NFT Collection The Superlative Secret Society Price, Stats, and Review
Peter Schiff Falters Bitcoin “Safe Haven” Illusion, Puts Gold Ahead
Live from TOKEN2049: Telos announces Ethereum Layer 2 partnership with Ponos Technology
Cardano Enters New Era Of Decentralized Governance: Foundation CEO
Simpleminers model innovation: use “one-click investment” to take you into a new era of making money
Analyst Forecast: Litecoin Poised For $250-$300, But Can It Hold?
Merlin Chain Launches MERL: A Major Leap Forward in Bitcoin Layer 2 Solutions
Bitcoin Spot ETFs Register Five-Day Withdrawals Streak Ahead of Halving
Bitcoin Miners Are Better Positioned for the Halving This Time Round: Benchmark
Explore B2Core’s v1.22 Centroid Integration and Brand New IB Module
Nigerian Instagram Celebrity Could Face Jail Time for ‘Spraying’ National Currency
Scammers target Google Ads, promote fake version of OTC crypto platform
Bitcoin Set To Soar To $200,000 Post-Halving: Skybridge Founder
JPMorgan Throws Cold Water On Bitcoin Halving Rally: Price Drop Incoming?
Exec – Bitcoin’s post halving prediction could see BTC’s price hit $200K
XRP Price Soars To $0.50 As Whale Moves 62M Coins, What’s Next?
Dubai Defies Nature’s Fury: Global AI and Blockchain Shows Shine Through Adverse Weather
Toncoin Unleashes DeFi Monster Growth: TVL Soars 300% In A Month
JPMorgan, Deutsche Bank expect no rally for Bitcoin, say halving priced in
Bitcoin Primed To Skyrocket by up to 219%, Predicts Hedge Fund Veteran Anthony Scaramucci – Here’s the Timeline
Polymarket Traders See 32% Chance of No Fed Rate Cuts This Year
Ethereum – A buy opportunity ahead of Bitcoin’s halving could emerge IF…
Ripple’s 3-Year Growth Strategy Unveiled By CEO Garlinghouse
Russian Duma Financial Market Chairman States Digital Financial Assets Might Replace Fiat for International Payments
At Current Rates, Cash App To Buy 16% of New BTC Supply After Halving
Cash App will be buying 16% of Bitcoin’s new supply after the halving if the firm’s buying appetite doesn’t decrease and the asset’s price increase.
Square’s mobile payments application Cash App will be buying 16% of Bitcoin’s (BTC) new supply if the company keeps buying at the same rate after the halfing if the price does not go up.
Twitter account dedicated to Bitcoin Rhythm pointed out in a tweet from Nov. 7 that the company’s Bitcoin buying rate will account for 16% of the total new Bitcoin per quarter after the block reward halving. The event will see the amount of Bitcoin created with each new block cut in half.
Future price changes not taken into accountHe explained that, currently, Cash App is buying 8% of the new supply of Bitcoin per quarter and the production will be cut in half after what he calls “the halvening.” Still, he admits:
“The halvening is NOT priced in.”
What he means with that last sentence is that his prediction does not take the positive effect of a lower supply of Bitcoin on its price which may, in turn, prevent the portion of BTC acquired by the company from becoming 16% of the newly mined coins. The prediction also assumes that Cash App will continue buying the same quantity of BTC in USD until after the halving occurs.
Cash App’s growing interest in BTCAs Cointelegraph reported earlier today, according to its Q3 2019 shareholder letter, Square’s Cash App reported $148 million in Bitcoin revenue. In October, the 18 millionth Bitcoin was mined, leaving only three million more to be created.
