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It is Tuesday; get your coffee ready, stack some sats, and sit down for your daily dose of Bitcoin signal!
Getting educated with bitcoin can be fun — from articles to podcasts, there are multiple ways to get information. Now, we will start focusing on the interactive Twitter Spaces.
Do not miss today's spaces with Aaron van Wirdum at 13:00 EDT discussing Bitcoin in El Salvador.
P.S. We're running a new giveaway to celebrate our 10th Twitter anniversary and we're giving out 10 tickets to Bitcoin 2022. Details below. | | Today's Rundown: - BofA Positive On Bitcoin. BofA sees El Salvador bitcoin's adoption as positive.
- Miners Riggin' Up. Marathon to invest $120 million on new miners.
- Customers Ask For Bitcoin. Square Customers buy $2.72 billion of bitcoin.
Let's do this. | | | Bank Of America Sees Opportunities With El Salvador's Bitcoin Adoption
By Namcios BofA sees four upsides to Bitcoin adoption in El Salvador, including remittances, financial digitalization, and foreign investments.
After years of banks preaching against bitcoin, the tide has been turning. Bank of America had an economic viewpoint report detailing a positive perspective on El Salvador's Bitcoin Law and the effects it could bring to the country.
Bank of America summarizes the positive outcomes for the country by adopting bitcoin technology in four main points: - Reduce remittances fees currently over 10%.
- Democratize access to electronic payments to 70% of unbanked population.
- Bring foreign investment to the country. (i.e Miners and Bitcoin ATMs)
- Give freedom to people to choose their preferred monetary standard
"Using Bitcoin for remittances could potentially reduce transaction costs compared to traditional remittances channels ... If using Bitcoin indeed lowers transaction costs, then for every dollar that the Salvadoran diaspora send home, a greater portion of that dollar could be received by recipients, increasing their disposable income and reducing the proportion of remittances lost to financial intermediaries." - BofA
It is interesting to see a fair analysis that includes the perspective and the potential of the lightning network, as lately "expert opinions" completely disregard this novel technology. | | Marathon To Invest $120 Million In 30,000 New Bitcoin Miners
By Alex Mcshane Marathon Digital Holdings, Inc. announced it will purchase 30,000 additional bitcoin miners for $120.7 million.
Marathon, one of the largest bitcoin mining companies in North America, announced a purchase of 30,000 additional Antminer S19J Pros for $120.7 million. With this purchase, the company is expected to grow its operations by 30%, totaling over 133,000 miners by next year.
"Increasing our percentage of the total network's hash rate increases our probability of earning bitcoin" - Fred Thiel, CEO
The North American mining industry does not cease to amaze. Throughout the last month, we continuously saw different companies investing to build or expand their mining infrastructure. | | Your daily dose of signal:
1. Casa is launching a product allowing users to purchase Bitcoin via automatic bank payments that are then sent straight to a user's multisig wallet.
2. There are various things occurring that many may consider bearish; it appears that bitcoin just doesn't care.
3. NCR Corporation, U.S. financial services firm, has announced an agreement to acquire LibertyX, a Bitcoin ATM operator launched in 2014.
4. Voyager acquired Coinify, but their focus on stablecoins might leave their customers behind while Bitcoin walks toward full monetization.
5. This third edition of Cycling On-Chain takes a closer look at bitcoin's ongoing supply squeeze and recent short squeeze.
6. After arousing confusion with incomplete communication and forced liquidations on lending contracts, Hodl Hodl explains what happened. | | CUSTOMERS ASK FOR BITCOIN | | Square Customers Buy $2.72 Billion Worth Of Bitcoin In Q2
By Alex Mcshane Payments giant Square has revealed its customers bought $2.72 billion worth of bitcoin in the second quarter of 2021.
Square published their quarterly letter to shareholders and revealed they sold $2.72 billion worth of bitcoin to their customers. Cash App, the mobile app where customers buy bitcoin, generated a gross profit of $546 million, up 94% year over year.
Clearly, the company is seeing massive growth in their Bitcoin business, and they continue to make a big bet on it, as they roll out new features and products through the app.
This clearly shows a general picture of the trend: Customers want bitcoin. | | By Bitcoin Magazine
The struggle is real. When you have an asset that has a provable fixed supply of ONLY 21 million, then you know you have to do everything it takes to get ahold of the maximum amount possible.
Just be sure to make peace with your stack, because it is never enough.
Keep stacking! | | | We're excited to be celebrating our 10th Twitter Anniversary in August by giving away 10 Bitcoin2022 Conference Tickets. The giveaway will start Sunday, August 1st at 12:00PM EST and run until August 31st at 12:00PM EST. The winner will be contacted by email on Wednesday, September 1st. To enter, go to: http://www.rafflecopter.com/rafl/display/b28baf753/ | | Today's email was brought to you by Bam and Joe.
Keep on reading, keep on stacking. | | | | |
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