Snowden believes China’s crypto ban boosted crypto

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Edward Snowden has said he believes China’s crypto ban has been a boon to bitcoin, Decrypt reported.

Snowden said he believes bitcoin should go private by design, according to the report. In March 2020, he posted that it was the first time in a long time that he had wanted to buy bitcoin, as a drop at the time was too much panic and too little reason.

Quoting the tweet now, he added that bitcoin has been up around 10 since then, despite a coordinated global campaign by governments to undermine public understanding and support for the cryptocurrency, according to the report.

In other news, bitcoin is approaching $ 50,000 for the first time since El Salvador made currency legal tender last month, Bloomberg reported.

Bitcoin was previously as low as 3.2% at $ 46,933 in earlier exchanges. But then it edged up 1.6% to $ 49,237 by 2:32 p.m. in New York trading, according to the report.

Bitcoin had previously fallen by around 17% on Sept. 7 when news from El Salvador arrived, with the rollout of that project marred by technical issues, according to the report. The El Salvador test is the largest yet regarding how the worlds are the most popular crypto rates in the real world.

Meanwhile, financial advisers are arguing that cryptocurrency could have a place in investment portfolios or retirement accounts, the Wall Street Journal reported.

The talk to investors is this: You win when bitcoin goes up and you can win when it goes down, according to the report.

According to the report, some personal money manager products now allow investors to purchase their own reserves of various cryptos through their brokerage accounts.

When investing, big losses can follow big gains, and advisers have offered investors a way to buy the crypto through a broker, according to the report. If the crypto drops by a certain amount, the accounts will automatically sell the coins and generate a taxable loss to offset other investment gains.

Then the accounts can redeem the coins a little later for about the same price, according to the report.

Finally, Greenridge, a NASDAQ-listed bitcoin mining company, said it mined $ 34 million worth of bitcoin, or 729 bitcoin, in the third quarter of 2021, The Block reported.

From July 1 to September 30 of this year, Greenridge generated revenue between $ 33 million and $ 37 million, with a net loss of between $ 16 million and $ 19 million, according to the report.

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NEW PYMNTS DATA: TODAY’S SELF-SERVICE PURCHASING JOURNEY – SEPTEMBER 2021

By the way: 80% of consumers want to use non-traditional payment options like self-service, but only 35% were able to use them for their most recent purchases. Today’s Self-Service Shopping Journey, a collaboration between PYMNTS and Toshiba, analyzes over 2,500 responses to find out how merchants can address uptime and perception issues to meet the demand for open kiosks -service.

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