Humble Bitcoiners!
It's Wednesday! Get your coffee ready, stack some sats and sit down for your daily dose of Bitcoin signal! |
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| Today's Rundown: Changing Lives: El Salvador uses bitcoin profits to build 20 schools. Bitcoin Not ETF: Exposure to bitcoin futures ETF is not the same as holding bitcoin yourself. #PayMeInBitcoin: The mayor of a major U.S. city has committed to taking his next paycheck in bitcoin. Doubling Down: Compass Mining doubles its capacity to 240MW. |
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Does The World Need A Declaration Of Monetary Independence?
By Alex McShane The President of El Salvador, Nayib Bukele has announced the nation will build 20 schools with bitcoin profits. This announcement comes after the president recently announced the construction of a veterinary hospital with profits.
This is all possible due to the country's investment in bitcoin as part of the Salvadoran Trust. Bitcoin's appreciation allows them to use the surplus for the funding of social projects without the need to sell the actual asset, as the fund is composed of both bitcoin and U.S. dollars.
Bitcoin is changing the lives of Salvadorans, as it allows them to build important infrastructure for the development of the country. With all the newly created capital. El Salvador is leading by example. It is only a matter of time before other countries decide to take the step and have a friendlier relationship towards bitcoin. |
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LEARN & EARN FREE BITCOIN |
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If You Want Bitcoin Exposure, Don't Use An ETF, Buy Bitcoin.
By Dominic Frisby Bitcoin has done perfectly well without an ETF for almost 13 years. Does it really need one?
There is a great enthusiasm after the acceptance of the bitcoin futures ETF, but according to the author, the real deal is holding the real asset, and there are dangers for people not knowing the difference.
The bitcoin futures ETF brings validation to the asset class in the eyes of mainstream investors, but at the same time there could be a downside, or, so called by the author "The Curse of the ETF Launch," The launch of GLD had a rally and went into a two and a half months bear market. The launch of Silver ETF was followed by a 40% crash. Bitcoin is different, though — the fact that one could buy the native asset in an easier way than any other ETF in the market, allows people to take self custody because we know it is the scarcest asset on earth. |
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Click the links:
1. FTX leads $150 million fundraise of African fintech, Bitcoin unicorn app at a $2 billion valuation.
2. U.S. Senator Cynthia Lummis (R-WY) shared in an interview with CNBC on Tuesday that she believes bitcoin is a decentralized commodity, and that the other crypto assets behave like securities.
3. Should those who seek influence in the Bitcoin ecosystem feel entitled to compensation for their efforts?
4. Africa is fast becoming a hotspot for growing usage of bitcoin for transactions on a day-to-day basis.
5. Commonwealth Bank, Australian largest bank, will reportedly enable its 6.5 million customers to buy, sell and hold bitcoin in 2022. |
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Miami Mayor To Take Full Paycheck In Bitcoin
By Namcios Miami Mayor Francis Suarez has officially made the ultimate "boss move," according to the city's CIO. The mayor has committed to taking his next paycheck fully in bitcoin, becoming the first U.S, politician to do so.
Mayor Suarez has been laying the grounds to turn Miami into a bitcoin hub, and now it is clear that he is leading by example. The question remains whether he will continue to do so with the following paychecks, or if this was meant to be the only one.
“I’m going to take my next paycheck 100% in bitcoin…problem solved,” tweeted Suarez in response to Anthony Pompliano’s tweet asking who would be the first U.S. politician to accept their salary in BTC. |
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BITCOIN MAGAZINE is back in print! |
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Compass Mining Partners With Red Jar Digital Infrastructure To Pioneer Bitcoin Mining In Ontario Canada
By Jesse Willms Compass Mining, has been gaining popularity lately as they offer both one-stop-shopping online bitcoin miners and hosting services. Yesterday, they announced a partnership with Red Jar Digital Infrastructure to host a new mega facility in Ontario, Canada, which will become the largest amount of power ever allocated to the company's miners at a single facility.
With this strategic partnership, Compass is able to near-double their capacity from 140MW to 240MW, becoming the largest service of its kind in the world. According to the announcement, this new facility will be 95% clean energy, as it is powered mostly with nuclear and hydro, providing energy below 8 cents per kilowatt hour to retail miners. |
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By Stack & Relax
The plebs are together to declare monetary independence. It's us versus the central banks.
We've got this.
Keep stacking! |
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