Bitcoin is trading over $ 48,000 ahead of Fed meeting

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Bitcoin Foundation Chairman Brock Pierce explained to Florida Governor DeSantis about the proposal to allow companies to pay state fees in cryptocurrencies and the state of the market.

Bitcoin was trading above the $ 48,000 level on Wednesday morning.

CleanSpark, Inc. posted fourth quarter results below analyst estimates.

The company is a sustainable bitcoin mining and energy technology company.

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The company reported a loss of 15 cents per share, 3 cents lower than the same quarter last year when the company reported a loss of 12 cents. Expectations were for a profit of 7 cents a share, according to the Associated Press.

Ticker Security Last modification Modification% CLSK CLEANSPARK INC 12.11 -0.13 -1.06%

Revenue of $ 27.14 million exceeded the estimate of $ 23.26 million.

Year-over-year, revenue increased to $ 27.14 million from $ 1.96 million in the same quarter last year.

ELON MUSK SAYS TESLA WILL ACCEPT DOGECOIN FOR CERTAIN PRODUCTS

In other cryptocurrency news, Elon Musk said on Tuesday that Tesla will start accepting Dogecoin as a form of payment for some of its goods.

“Tesla will make some products purchasable with Doge and see how that goes,” tweeted the CEO of the electric car maker, pushing the token up by more than 23%.

Musk, who was recently named Time’s Person of the Year for 2021, said the world’s largest cryptocurrency, bitcoin, is basically “not a good substitute for transactional currency.”

“Bitcoin’s transaction volume is low and the cost per transaction is high,” he said, adding that it was better suited as a “store of value”.

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Although it was created as a joke, Musk argues that Dogecoin is “better suited for transactions”, has “much higher potential” when it comes to trading volume per day, and ultimately “encourages people to spend , rather than amassing some sort of store of value. “

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