More than 86,000 Saudi families benefit from Sakani subsidized loans
RIYAD: Following the latest report from the University of Cambridge showing that the United States has the largest share of bitcoin mining globally, Twitter and Square CEO Jack Dorsey has announced that Square is planning to build a custom silicon based bitcoin mining system. .
Dorsey has been a bitcoin supporter for years and recently indicated that Square is building a bitcoin hardware wallet in order to make bitcoin custody more common, he also said bitcoin will be a big part of the future of Twitter.
âSquare plans to create a custom, open source silicon-based bitcoin mining system for individuals and businesses around the world,â Dorsey said. âIf we do this, we will follow our hardware portfolio model: building in the open in collaboration with the community. “
While the first bitcoin futures ETF could start trading as early as next week in the United States, NBA team owner Dallas Mavericks, Mark Cuban shared his thoughts on bitcoin exchange-traded funds (ETFs).
Cuban said in an interview with CNBC that he does not plan to invest in bitcoin-based exchange-traded funds (ETFs) and sees no reason for him to invest in a bitcoin ETF, saying he could buy the cryptocurrency directly.
While bitcoin ETFs based on futures give investors some exposure to the crypto market without owning actual currencies.
Todd Rosenbluth, Director of ETF and Mutual Fund Research at CFRA, explained, âThe price of the ETF will not match the price of bitcoin. As such, it’s probably better for short-term exposure than for a long-term buy and hold investment.
Mexico will not adopt bitcoin as legal tender
Mexican President Andres Manuel Lopez Obrador has denied any interest in adopting cryptocurrencies as legal tender in the country.
“No. We are not going to change on this aspect. We see fit to maintain orthodoxy in the management of finances. We are not going to try to innovate much in the financial system,” he said.
Bitcoin, the main cryptocurrency in international trade, traded lower on Sunday, falling 0.12% to $ 60,928 at 5 p.m. Riyadh time.
Ethereum, the second most traded cryptocurrency, traded at $ 3,857, down 1.51%, according to data from Coindesk.