Business News Asia
Bitcoin price has risen above $58,000, up 3.25% in the last 24 hours after falling to $54,000, Bitcoin is currently trading at $57,1859.0.
The United States is now officially the number one Bitcoin miner, taking over from China after the Chinese government slapped a ban on cryptocurrencies. Crypto mining companies have subsequently left China to continue in more crypto-friendly areas.
The percentage of Chinese computers connected to global bitcoin networks fell to zero in July, down from 75% in 2019.
Instead, these shares went to the United States, Kazakhstan, and Russia. The United States now accounts for about 35.4% of global bitcoin mining.
China has also banned platforms from continuing to offer their services in China. For example, the crypto exchange Binance had announced to delete the accounts for traders from China. Provider FTX has already moved its headquarters from Hong Kong to the Bahamas.
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Thursday, October 14, 2021