Here’s what happened this week in Bitcoin in 99 seconds.
Samsung has confirmed that it is providing chips to mine bitcoin, ether and assorted cryptocurrencies for hardware manufacturer Halong Mining.
Halong Mining has remained relatively quiet regarding its new relationship, though its first miner, the Dragonmint T1, is already available for purchase. The T1 is believed to stand among the world’s most efficient miners, purportedly beating out Bitmain’s Antminer S9.
European countries join forces to cooperate on blockchain regulation and education. In a press release issued by the states, it was said that The European Blockchain Partnership “will be a vehicle for cooperation amongst the Member States to exchange experience and expertise in technical and regulatory fields.”
A week after the reserve bank of India banned the Indian banks from extending their services to cryptocurrency exchanges, Indian cryptocurrency exchange Coinsecure has reported that 438.318 Bitcoin, worth $3.5 Mn has been stolen from its platform. The company has halted the exchange operations, as the police seized the company’s servers.
San Francisco-based Pantera Capital Management called $6,500 the probable low for bitcoin in the current bear market. The investment firm also said it was “highly likely” that bitcoin will hit new highs and exceed $20,000 within a year.
On top of that, the famous Bitcoin bull and venture capitalist Tim Draper said at a Blockchain event that he believes Bitcoin will go as high as $250,000 by 2022.
That’s what happened this week in Bitcoin. See you next week.