Bitcoin price – live: Trump calls crypto a ‘scam’ after El Salvador president declares it legal tender

The crypto market is settling down on Monday after a weekend of stage invasions, explicit coins and support from the president of El Salvador.

The past few days saw the staging of Bitcoin 2021 – billing itself as the largest crypto event in history, and welcoming tens of thousands to talk about digital currencies.

Arguably the most significant news was El Salvador President Nayib Bukele’s announcement that bitcoin will be treated as legal tender in the country, pending congressional approval. But one of the most notable events had nothing at all to do with bitcoin, as a stage invader ripped off a layer of his clothes and shouted: “Dogecoin to the Moon!”

The market itself is largely flat on Monday – up slightly as a whole, but only by 0.7 per cent, and with all of the biggest cryptocurrencies seeing largely similar performances.

Here is all the latest news from the crypto markets.

1623097137

NHL’s San Jose Sharks join bitcoin bandwagon

Yet another US sports team has announced payment support for bitcoin and other cryptocurrencies.

From next season, fans of the San Jose Sharks will be able to buy tickets and suite leases using btc, Ethereum (ether) and dogecoin, the president of the NHL franchise announced.

The Sharks have partnered with BitPay in order to process transactions, with PayPal’s recent move into the space acting as the catalyst.

“We’re accepting PayPal, so then by definition, we’re accepting cryptocurrency,” Sharks president Jonathan Becher said. “Why not embrace it and make it more visible as opposed to just doing it through a third party.”

(Twitter)

Anthony Cuthbertson7 June 2021 21:18

1623083389

Bitcoiners look to move to El Salvador

Interest in El Salvador real estate has spiked after President Nayib Bukele declared bitcoin legal tender and detailed the benefits of moving to the country.

“Great weather, world class surfing beaches, beach front properties for sale,” he tweeted.

“No capital gains tax for #Bitcoin, since it will be a legal currency… Immediate permanent residence for crypto entrepreneurs.”

Even Changpeng Zhao (known as CZ), the CEO of Binance, described the offer as “enticing”, while sharing an animated gif of Mickey Mouse frantically packing.

(Google Trends)

Anthony Cuthbertson7 June 2021 17:29

1623075920

Donald Trump calls bitcoin a ‘scam’

Former US president and social media pariah Donald Trump has claimed bitcoin is a “scam”, while simultaneously referring to it as a currency.

“Bitcoin, it just seems like a scam. I was surprised – you know, with us, it was at $6,000 and, much lower,” he told Fox News.

“I don’t like it because it’s another currency competing against the dollar, essentially it’s a currency competing against the dollar. I want the dollar to the currency of the world. That’s what I’ve always said.”

His comments come just a day after the president of El Salvador declared it legal tender in the country, alongside the US dollar.

Anthony Cuthbertson7 June 2021 15:25

1623072115

Bitcoin price to hit $500,000, Winklevoss twin predicts

Among those most consistently bullish about bitcoin’s future have been the Winklevoss twins, who bought into the cryptocurrency back in 2014 after their social network misadventures saw them clash with fellow Harvard student and Facebook co-founder Mark Zuckerberg.

They now own and operate the crypto exchange Gemini and have estimated holdings of around $1.4 billion in bitcoin each.

Speaking at the Bitcoin 2021 conference in Miami, they explained why they believe the price of bitcoin is heading towards $500,000.

“Bitcoin is gold 2.0, it will disrupt gold, so it’s market cap has to be $10 trillion or more because that’s the market cap of gold,” one of the twins said.

“So even at $35,000 it feels like a really good buying opportunity long term, because we think at a $10 trillion market cap, we think one bitcoin will be worth $500,000, and we think that could happen inside this decade.”

Anthony Cuthbertson7 June 2021 14:21

1623070047

Bitcoin investors bullish on price as exchanges empty

The rate at which bitcoins are being removed from crypto exchanges is at its highest since November.

The trend, noted by on-chain analyst William Clemente (@WClementeIII), is viewed by some as a bullish signal for the market.

The price of bitcoin was trading below $20,000 the last time this many bitcoins were being taken off exchanges and put into cold storage. It then proceeded to break its previous all-time high and continued setting new price highs for the next six months, before the subsequent crash.

(Glassnode)

Anthony Cuthbertson7 June 2021 13:47

1623068293

Paraguay to follow El Salvador?

A congressman from Paraguay has followed the lead of El Salvador’s president by adding bitcoin laser eyes to his Twitter profile picture.

Carlitos Rejala posted the updated profile pic alongside the words: “As I was saying a long time ago, our country needs to advance hand in hand with the new generation.

“The moment has come, our moment. This week we start with an important project to innovate Paraguay in front of the world! The real one to the moon #Bitcoin”

Anthony Cuthbertson7 June 2021 13:18

1623057954

Market mostly flat

It’s an uncharacteristically flat day in the markets today: ethereum, which is up 1.42 per cent, is the most volatile of all the big coins. The rest – bitcoin, cardano, even the perennially excitable doge – have all moved about 0.5 per cent or less.

Andrew Griffin7 June 2021 10:25

1623057946

El Salvador president adds laser eyes to his profile picture and declares bitcoin legal tender

The president of El Salvador has declared bitcoin “legal tender”, allowing it to be used as an official form of currency in the country.

President Nayib Bukele is the first world leader to formally adopt bitcoin or any other decentralised cryptocurrency, and emphasised his enthusiasm for the digital currency by adding “laser eyes” to his Twitterprofile picture.

Andrew Griffin7 June 2021 10:25

1623057937

‘A new space race has begun’

Now cryptocurrency exchange Bitmex says it is planning its own moon mission: to put bitcoin there first.

Elon Musk has comented on the plans on Twitter. “A new space race has begun!” he wrote.

Andrew Griffin7 June 2021 10:25