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Tesla cars can be bought in Bitcoin

Tesla cars can be bought in Bitcoin

Technology
ReutersTesla customers can now buy their car with Bitcoin, company chief Elon Musk has said.Mr Musk, a well known Bitcoin enthusiast, made the unexpected announcement in a tweet.But Bitcoin's value rapidly moves up and down - meaning the real-world price of Teslas bought in the cryptocurrency could change day to day.Tesla has invested heavily in the digital currency, buying $ 1.5bn (£1.1bn) worth of Bitcoin.And that apparent vote in confidence saw Bitcoin's value shoot to a record high.Mr Musk tweeted Tesla would be running its own internal software to handle Bitcoin payments, which "operates Bitcoin nodes directly".Nodes, in this sense, are the computers that process Bitcoin transactions.And in an apparent bid to assuage fears of Bitcoin enthusiasts who want to see the ecosystem thrive, M...
Bitcoin ad banned for ‘misleading pensioners’

Bitcoin ad banned for ‘misleading pensioners’

Technology
Getty ImagesAn ad for a cryptocurrency exchange has been banned for “irresponsibly” promoting investments in Bitcoin.The Advertising Standards Authority (ASA) said the campaign had targeted pensioners who were "unlikely to know" much about the topic.The watchdog drew attention to use of the phrase “there is no point in keeping your money in the bank”.And it said a disclaimer printed in small print was "insufficient to counteract the overall message".'Insulting rates'The full-page spread contained a photograph of a Coinfloor customer with a personal testimony about how she had invested part of her pension into Bitcoin via the platform.“Today there is no point keeping it in the bank – the interest rates are insulting,” it read. “That is why when I received my pension, I put a third of it int...

Bitcoin surpasses $60,000 in record high as rally accelerates

Finance
Representation of the virtual currency Bitcoin is seen on a motherboard in this picture illustration taken April 24, 2020.Dado Ruvic | ReutersBitcoin crossed a record high of $ 60,000 on Saturday morning, continuing its rally as major companies and financial institutions adopt cryptocurrencies.Bitcoin, the world's biggest cryptocurrency, was at $ 60,415.34 as of 7:25 a.m. ET, according to Coinbase, recovering from a dip at the end of February that followed a previous record high that month.The digital currency is up 963% over the last 12 months, according to Coinbase. Its value surpassed $ 1 trillion last week for the second time this year. Bitcoin's rally is driven partly by increased adoption by larger institutional investors and firms and speculative demand. Tesla has purchased $ 1...

Biden SEC pick Gensler grilled over bitcoin, GameStop mania and board diversity

Finance
Gary GenslerAndrew Harrer | Bloomberg | Getty ImagesGary Gensler, President Joe Biden's pick to lead the Securities and Exchange Commission, said he would hope to oversee cryptocurrency regulation, the "gamification" of equity trading and board diversity if confirmed to lead Wall Street's chief regulator.Gensler, who testified before the Senate Banking Committee on Tuesday, was grilled on whether he would scrutinize payment for order flow and game-like tactics used by some online brokerages use to help attract customers to their platforms.Both subjects have received attention on Capitol Hill over the past two months after January's wild trading in GameStop, AMC Entertainment and other stocks.Senators including Massachusetts Democrat Elizabeth Warren asked Gensler in the virtual hearing for...
Bill Gates: Bitcoin not for me, says ex-Microsoft chief

Bill Gates: Bitcoin not for me, says ex-Microsoft chief

Technology
Getty ImagesMicrosoft founder Bill Gates has not invested in Bitcoin, he said in a live chat on the social network Clubhouse.Mr Gates told host Andrew Sorkin that he preferred to invest in companies "that make products", citing malaria and measles vaccines as examples. The billionaire said he did not choose his investments on the basis of whether they would be worth more to others. In an earlier interview he had discussed Tesla founder Elon Musk's enthusiasm for the virtual currency."My general thought would be that if you have less money than Elon, you should probably watch out," he told Bloomberg. "Elon has tonnes of money and he's very sophisticated, so I don't worry that his Bitcoin will sort of randomly go up or down."Bitcoin's value jumped nearly 50% after Tesla revealed it had purch...