Crypto holders on the hunt for a real property can now spend their digital assets on a 187-year-old estate in a Connecticut town.

According to the propertys listing agent, the seller of a 4.3-acre farmhouse compound in Greenwich is now accepting crypto assets as a form of payment for the $5,995,000 asking price of the property.

The main residence at the heart of the property, known as the Levi Ireland house, was built in 1835 and was designated as a landmark in the wealthy town where homeowners tend to have several other homes for weekend retreats.

The house spans over 4,200 square feet and features five bedrooms, three bedrooms and a powder room. A carriage house with three bedrooms and a one-bedroom guest cottage also lie on the property.

In an interview with CNBC in May, Kevin Sneddon, the propertys listing agent, says that the propertys owner holds a lot of virtual assets and actively trades them. He says the unidentified seller will take top crypto assets Bitcoin (BTC) or Ethereum (ETH) as payment for the home.

Despite the volatile nature of digital assets, the seller has no plans to convert the potential cryptocurrencies received as payment for the home to cash or other assets.

Shes not going to turn it over and convert it to anything else. Shes going to add it to her crypto portfolio.

Featured Image: Shutterstock/Wit Olszewski

Excerpt from:
Got Bitcoin? Sprawling $5,995,000 Connecticut Home for Sale in BTC and Additional Crypto Assets - The Daily Hodl

Larry Fink, chief executive officer of BlackRock Inc., gestures while speaking at the Handelsblatt Banking Summit in Frankfurt, Germany, on Wednesday, Sept. 4, 2019.

Alex Kraus | Bloomberg | Getty Images

BlackRock has launched a private trust offering institutional clients in the U.S. direct exposure to bitcoin.

The largest asset manager in the world revealed the new product in a blog post Thursday, though it was light on detail.

"Despite the steep downturn in the digital asset market,we are still seeing substantial interest from some institutional clients in how to efficiently and cost-effectively access these assets using our technology and product capabilities," the company said in the post.

Bitcoin is still more than 60% below its all-time high of almost $69,000. However, many investors believe it has found a bottom with stocks, with the two asset classes being more correlated to each other this year than ever before, amid 2022's slide in risk assets. On Thursday, the digital currency rose above $24,700 to its highest level since just before it fell to its June low.

"Bitcoin is the oldest, largest, and most liquid cryptoasset, and is currently the primary subject of interest from our clients within the cryptoasset space," the post continued.

The announcement follows CEO Larry Fink saying earlier this year that BlackRock clients had been showing "increasing interest" in digital currencies, including stablecoins and "the underlying technologies" also known as blockchain.

BlackRock on Thursday also highlighted the work of energy nonprofits RMI and EnergyWeb for their work "to bring greater transparency to sustainable energy usage in bitcoin mining," adding the firm "will follow progress around those initiatives."

Institutional investors once hostile toward the crypto industry have changed their tune in the last few years, but environmental concerns around the process of bitcoin mining have continued to be an obstacle for many.

The post said BlackRock has been researching areas with "potential to benefit our clients and capital markets more broadly," including permissioned blockchains, stablecoins, cryptoassets and tokenization.

Thursday's news is the latest in BlackRock's foray into crypto. The company, which has about $8.5 trillion in assets under management, announced recently a partnership with Coinbase that allows its institutional clients to buy crypto, beginning with bitcoin.

This also comes amid frustration by new institutional investors in the market keen to see the Securities and Exchange Commission approve a spot bitcoin exchange-traded fund. So far, only bitcoin futures ETFs have been approved.

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BlackRock launches a private trust to give clients exposure to spot bitcoin - CNBC

The worlds first and largest cryptocurrency is making gallant steps towards the greens in a recent outturn of events. Bitcoin is experiencing a sharp rise in price within its market. Recent trading activities got BTCs price to hit the $24,000 mark. This creates a positive record for the top cryptocurrency across the industry.

Though Bitcoin is making a tremendous improvement in value, its number of active addresses seems to be downtrend.

The sudden growth in price for BTC likely has little connection with the overview of the crypto market. This upward trend occurs due to external pushes that spiked the price. But the irony is that there is no notable rise in the number of its active wallets.

Records from on-chain reports show that Bitcoins number of active wallets is relatively low. Crypto Quant, an on-chain analytics firm, gave its data indicating a downward move for the active addresses. It reports that new contracts are emerging in the futures market as prices keep surging.

This contradicts the current trend in the crypto futures market that depicts increasing momentum. Since the spike is not from an internal influence, the sustainability of the present positive pressure and price rise is quite unclear.

With new contracts opening, the futures market is experiencing higher crypto prices. Also, cryptocurrency short-term investors are taking up positions within the futures market. Such activities are invariably creating spikes in prices. Hence, the significant market price increase is the final outplay of the sudden rise in buying positions.

Additionally, the speculations on the short term in the futures market could make for a fast reversal at any point. Such indications could twist prices in the future in any direction.

The report from analytics firm Crypto Quant also confirms that using directional bets at the moment as it concerns vital macro data poses increasing doom. There are high possibilities of swift directional change in the short term. Hence, the importance of achieving sustainability would depend more on risk management.

Currently, the value of BTC is slightly above $24,000. The impact of macroeconomic activities during the week could trigger volatility in the Bitcoin price. Also, the U.S. inflation data, due on Wednesday, has a role in the overall outcome.

Conversely, there seems to be a more accurate indication of the BTC price forecast for August. According to the community predictions, Bitcoin could hit the $28,000 level by the end of the month.

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Is The Bitcoin Surge Due To An External Reason? What The Data Suggests - NewsBTC

Bitcoin (BTC) has been posting higher lows for the past eight weeks, but during this time, BTC has not been able to flip the $24,000 resistance to support on at least three different opportunities. This is precisely why the $475 million Bitcoin options expiry on Aug. 12 might be a game changer for bulls.

Considering the current regulatory pressures in play, there seems to be a good enough rationale for avoiding bullish bets, especially after the U.S. Securities and Exchange Commission pressed charges against a former Coinbase manager for illegal securities trading on July 21.

The additional impact from the Terra (Luna) now renamed Terra Classic (LUNC) ecosystem imploding and subsequent crypto venture capital firm Three Arrows Capital (3AC) registering for bankruptcy continue to weigh on the markets. The latest victim is crypto lending platform Hodlnaut, which suspended user withdrawals on Aug. 8.

For this reason, most traders are holding back their bets above $24,000, but events outside of the crypto market might have also negatively impacted investors' expectations. For example, according to regulatory filings released on Aug. 9, Elon Musk sold $6.9 billion worth of Tesla stock.

Moreover, on Aug. 8, Ark Investment manager CEO Cathie Wood explained that the 1.41 million Coinbase (COIN) shares sold in July were caused by regulatory uncertainty and its potential impact on the crypto exchange's business model.

Bitcoin's failure to break below $21,000 on July 27 surprised bears because only 8% of the put (sell) options for Aug. 12 have been placed above $23,000. Thus, Bitcoin bulls are better positioned for the $475 million weekly options expiry.

A broader view using the 1.23 call-to-put ratio shows more bullish bets because the call (buy) open interest stands at $262 million against the $212 million put (sell) options. Nevertheless, as Bitcoin currently stands above $23,000, most bearish bets will likely become worthless.

If Bitcoin's price remains above $23,000 at 8:00 am UTC on Aug. 12, only $16 million worth of these put (sell) options will be available. This difference happens because there is no use in the right to sell Bitcoin at $23,000 if it trades above that level on expiry.

Below are the four most likely scenarios based on the current price action. The number of options contracts available on Aug. 12 for call (bull) and put (bear) instruments varies, depending on the expiry price. The imbalance favoring each side constitutes the theoretical profit:

This crude estimate considers the call options used in bullish bets and the put options exclusively in neutral-to-bearish trades. Even so, this oversimplification disregards more complex investment strategies.

Related: Bitcoin braces for US inflation data as CPI nerves halt BTC price gains

Bitcoin bears need to pressure the price below $24,000 on Aug. 12 to balance the scales and avoid a potential $150 million loss. However, Bitcoin bulls got $265 million worth of leverage long futures positions liquidated between Aug. 8 and 9, so they are less inclined to push the price higher in the short term.

With that said, the most probable scenario for Aug. 12 is the $22,000 to $24,000 range, providing a balanced outcome between bulls and bears. Considering Bitcoin's negative 50% performance year-to-date, even a small $90 million win for bulls could be regarded as a victory, but that would require sustaining BTC above $24,000.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph. Every investment and trading move involves risk. You should conduct your own research when making a decision.

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$475M in Bitcoin options expire this week Are bulls or bears poised to win? - Cointelegraph

On-chain data shows the Bitcoin aSOPR indicator has found resistance at the historical junction between bull and bear markets.

As pointed out by an analyst in a CryptoQuant post, the BTC aSOPR has been rejected from the breakeven mark recently.

The Spent Output Profit Ratio (or SOPR in short) is an indicator that tells us whether Bitcoin investors are selling at a loss or at a profit right now.

The metric works by looking at the on-chain history of each coin being sold to see what price it was last moved at.

If the previous selling price of any coin was less than the current value of BTC, then that particular coin has just been sold at a profit. While if its otherwise, then the coin realized some loss.

A modified version of this indicator, the Adjusted SOPR (aSOPR), excludes from its calculations all those coins that were held for less than 1 hour before being sold. The benefit of this modification is that it removes all noise from the data that wouldnt have had any significant implications on the market.

Now, here is a chart that shows the trend in the Bitcoin aSOPR over the past coupe of years:

When the value of the aSOPR is greater than one, it means the average investor is selling at a profit right now. On the other hand, the metric being lesser than the threshold suggests the overall market is moving coins at a loss.

As you can see in the above graph, the analyst has marked the relevant zones of trend for the Bitcoin aSOPR.

It seems like during bull markets, the 1 value of the metric has acted as support, while during bears it has provided resistance.

The significance of this line is that its the breakeven mark for investors as at this value holders are just breaking even on their selling.

During bulls, investors think of this line as a good buying opportunity, but in bears they see it as an ideal selling point.

Recently, the aSOPR attempted a retest of this mark, however, it was rejected back into the loss zone. If the historical pattern is anything to go by, this current trend would mean Bitcoin is still stuck in a bear market.

At the time of writing, Bitcoins price floats around $24.5k, up 7% in the past week.

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Bitcoin aSOPR Fails Retest Of Historical Bull-Bear Junction - NewsBTC

Zug Switzerland, Thursday 11 August 2022: The Bitcoin Association for BSV has appointed Dr Catherine Lephoto as a new BSV Ambassador as part of its global ambassador programme.

Lephotos experience in the blockchain industry has already proven to be a valuable part of the BSV ecosystem and her drive to help increase adoption, awareness, and education of the global enterprise blockchain platform in Africa has been massively influential.

Managing Director of the Bitcoin Association for BSV, Patrick Prinz said: It is an honour to have Catherine Lephoto as an ambassador for the Bitcoin Association. Her industry expertise and support within the EMEA region and specifically Africa has already proven to be helpful. Catherines focus on educating and bringing trusted change to Africa is what makes her stand out to the association as a great ambassador. We look forward to working with Catherine in EMEA and Africa to provide the region with a stable blockchain infrastructure for the future.

Dr Catherine Lephoto, executive sales director at VX Technologies said: I am thrilled for this opportunity to represent the Bitcoin Association in South Africa. My initial focus will be on promoting the knowledge-transfer function of the organisation through the BSV Academy. I am looking forward to discussions with policy and decision-makers in government, business, and academic circles about incorporating blockchain technology in training and skills development programmes across the region. Looking further into the future, I cannot wait to celebrate the achievements of the youth that will graduate from our programmes and equip Africa with change.

About the Bitcoin Association for BSVBitcoin Association is a non-profit association (Verein) in Switzerland, and the global industry organization which advances Bitcoin SV (BSV). It brings together enterprises, start-up ventures, developers, merchants, exchanges, service providers, blockchain transaction processors (miners), and others in the Bitcoin SV ecosystem. The Association supports Bitcoin SV as the original Bitcoin, with a stable protocol and massive scaling roadmap to become the worlds new money and global blockchain for enterprise. The organization seeks to build a regulation-friendly ecosystem that fosters lawful conduct while encouraging digital currency and blockchain innovation.

Lightning Sharks on behalf of Bitcoin Association for BSV Key contact: Haris Khan, PR, and Media Manager Email: [emailprotected] Mobile: +44 (0) 7503 581 563

New to Bitcoin? Check out CoinGeeksBitcoin for Beginnerssection, the ultimate resource guide to learn more about Bitcoinas originally envisioned by Satoshi Nakamotoand blockchain.

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The Bitcoin Association for BSV appoints Dr Catherine Lephoto as a new ambassador in the EMEA region - CoinGeek

A popular crypto analyst is laying out his roadmap for Bitcoin (BTC) and two altcoins, including an Ethereum (ETH) competitor.

Michal van de Poppe tells his 621,800 Twitter followers that Bitcoin is currently consolidating.

He says if BTC does dip in price, it needs to hold a low in the area around $21,323 to avoid a trend switch.

The trend is still upwards, potentially a correction now is taking place due to CPI fears.

Important:Hold above $21,300 to continue the trend.Break above $24,500 to continue to $28,000.

BTC is trading at $23,893 at time of writing. The top-ranked crypto asset by market cap is up more than 3% in the past 24 hours.

Van de Poppe also notes that Ethereum rival Fantom (FTM) could surge all the way to $0.50.

FTM is trading at $0.405308 at time of writing. The 57th-ranked crypto asset by market cap is up nearly 10% in the past 24 hours.

Van de Poppe says Zilliqa (ZIL), a blockchain designed for enterprise solutions, is also consolidating. The trader says ZIL is most likely to take off on a breakout as soon as it jumps above $0.049.

ZIL is trading at $0.045384 at time of writing. The 80th-ranked crypto asset by market cap is up more than 5% in the past day.

Featured Image: Shutterstock/breakermaximus

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Heres Whats Next for Bitcoin, Fantom and One Under-the-Radar Altcoin, According to Top Crypto Trader - The Daily Hodl

Riot Blockchain, a bitcoin mining company based in Texas, was able to completely offset the cost of a month's worth of electricity thanks to a state subsidy. It did so by voluntarily turning off some of its miners during the month of July, thus earning millions in power credits for "contributing to power grid stability in Texas."

The company was able to mine about 318 BTC during the month of July, down 30% from last year, and valued at around $6.88 million. This was in addition to the $9.5 million in power credits awarded to them for not drawing power away from an already strained ERCOT power grid (opens in new tab). This means the company was able to mine almost $7 million in bitcoin for essentially free for an entire month (via Web3isgoinggreat (opens in new tab)).

In a press release, Riot Blockchain CEO Jason Les claims that "when applied to anticipated power costs for the month, the power credits and other benefits are expected to eliminate Riots power costs for July."

This means Riot was still able to mine millions in bitcoin and have the energy bill for July paid for by Texan tax dollars.

In case you're wondering how much power usage was saved by Riot turning off just some of its miners, the company "curtailed a total of 11,717-megawatt hours in July, enough to power 13,121 average homes for one month."

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Meanwhile, according to this report in the Texas Tribune (opens in new tab), Texans are paying at least 50% more in electricity costs this summer as record-breaking temperatures increase demands on the state's energy grid.

"By providing power back into the ERCOT grid during periods of peak demand, the Company estimates that power credits and other benefits from curtailment activities totaled an estimated $9.5 million, significantly outweighing the reduction in BTC mined."

As of 2022, 35% of all bitcoin mining happens in the US, generating about 40 billion pounds of carbon emissions. Estimates say that mining one bitcoin uses the same amount of power consumption as an American household over 50 days (opens in new tab).

In April, the company announced plans to upgrade its Corsicana facility into a 1-gigawatt operation in Navarro County. Riot also has a massive 750MW facility in Rockdale, Texas.

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Texas paid this company to mine bitcoin during an ongoing energy crisis - PC Gamer

What happened: An anonymous Bitcoin BTC/USD whale just transferred $22,986,183 worth of Bitcoin off Coinbase, and the investor then sent these funds to Binance.

You can view more details about the transaction here.

Why it matters: Bitcoin "Whales" (investors who own $10 million or more in BTC) typically send cryptocurrency between exchanges when looking for liquidity. If a whale were to sell all of their Bitcoin on one exchange, there would be a high price impact. That is, the investor would push down the price of Bitcoin on that exchange significantly.

Instead, the whale can distribute the funds across exchanges to be able to have sufficient liquidity. Of course, we don't know for sure whether this Bitcoin wallet is transferring the funds to sell, as this is just speculation. Another reason investors transfer Bitcoin across exchanges is for security preferences.

The best way to secure Bitcoin is through holding it on a hardware wallet, which can't be done through holding digital assets on an exchange. However, certain exchanges, like Coinbase, hold investors' funds in hardware wallets for them, adding an extra level of security for your digital assets.

Price Action: Bitcoin is up 1% in the past 24 hours.

See Also: How To Buy Bitcoin

Public Blockchain data sourced from Whale Alerts Twitter.

This article was generated by Benzinga's automated content engine and reviewed by an editor.

Continued here:
Bitcoin Whale Just Transferred $22M BTC From Coinbase To Binance - Benzinga

The king coin of cryptocurrencies continues to divide opinions among skeptics with its latest movement. After rejecting the $24.2K resistance, BTC prices have crashed below $23,450 at press time according to CoinMarketCap.

This rejection has raised many eyebrows in the community since market conditions have improved of late.

Galaxy Digital CEO Mike Novogratz recently told Bloomberg that he remains doubtful if Bitcoin will push the $30K barrier anytime soon.

Will Bitcoin get through USD 30,000 on this move up? We will see. Im doubtful. I think were going to probably be in this range now. I quite frankly would be happy if were in a USD 20,000, USD 22,000, or USD 30,000 range for a while.

Novogratz further stated, Were not seeing huge institutional flows, to be fair, but were not seeing anyone back away.

That being said, a CryptoQuant insight recent signaled a bullish line across Bitcoin after seeing contract openings in the futures market.

According to the update, expectations of an improvement in macro sentiment lead short-term betters to build positions in the futures market (open interest), betting on the momentum gain that could channel prices higher.

However, it remains to be seen if this futures-led rally can prove to be sustainable. This is true, especially for short-term investors who change positions quickly as they are sensitive to changes in general sentiment.

Another bullish indicator was laid out by prominent trader Tone Vays on his YouTube channel. He shed light on a historically bullish signal that preceded BTCs bottoms in 2015 and 2018 bear markets.

According to Vays, a bullish signal could open up in about three weeks which could be as late as the end of August.

I like the bullish structure here. This is the monthly Heikin-Ashi chart. I would like to see an actual MRI buy. Historically, these MRI buys have been incredible. Back in 2018, we had the perfect buying opportunity, back in 2015 as well. And if the bear market was longer [in 2013], Im sure we could have gotten one back then as well. And here it is: the third ever MRI buy coming up in about three weeks unless the price rallies a lot significantly, which I hope it does, but we will see,

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Bitcoin: Analysts take on where BTC could go next - AMBCrypto News