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Bitcoin bubble? Cryptocurrency at a crossroads

By France24
28 June 2021   |   11:19 am
What's up with Bitcoin? It's down, dropping to its lowest level since January after China announced a crackdown on cryptocurrency mining. Is it, as stated, about going green and cooling it in the nation that's home to an estimated two-thirds of the energy-sucking giant computer servers that create virtual currencies? Or is it about reining in a cottage industry that is out of not only Beijing's control, but that of central banks and regulators the world over?

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23 Jun 2021
The price of Bitcoin dropped below the all-important $30,000-mark after China made several moves to rein in the cryptocurrency. The fall could trigger a sell-off, but experts say China isn't as important as it once was.
28 Jun 2021
What's up with Bitcoin? It's down, dropping to its lowest level since January after China announced a crackdown on cryptocurrency mining. Is it, as stated, about going green and cooling it in the nation that's home to an estimated two-thirds of the energy-sucking giant computer servers that create virtual currencies? Or is it about reining in a cottage industry that is out of not only Beijing's control, but that of central banks and regulators the world over?
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Malaysian police have hit on a novel way to dispose of more than 1,000 bitcoin-mining machines seized in raids -- crushing the devices using a steamroller. Authorities on Borneo island discovered the machines, worth an estimated 5.3 million ringgit ($1.25 million), in crackdowns between February and April, and say they were powered using stolen electricity.
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The value of Bitcoin has plunged by more than 10 percent after El Salvador on Tuesday became the first country in the world to accept the cryptocurrency as legal tender. The launch was marred by protests and technical difficulties with the digital wallet app, which had to be taken offline for several hours. Also today, we report on tourism businesses in the southwest of France that have benefitted from the recent spell of good weather, which has prolonged their summer season.
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Narendra Modi, India’s Prime Minister, has warned younger generations about the threat Bitcoin poses. In his keynote address at The Sydney Dialogue, hosted by the Australian Strategic Policy Institute, Modi spoke on the technology development India has experienced and how it could help guide the safety of cryptocurrency.