Venezuela broken volume bitcoin’s sales records and its price growed up

Venezuela’s volume amounted $130 billion while USA’s was $ 11 million and China’s was $ 72 million
01 December 2017   1968

The rapid growth of bitcoin over the past week has caused a lot of speculation about the reasons that caused it. One option is the massive demand for bitcoin in Venezuela. Its volume amounted to $130 billion. In comparison with this volume, the other two highest results are frankly small: $ 6 billion in Iran and $ 4.2 billion in Colombia.

There are other hypotheses. For example, there is a version that large investors decided to invest some of their funds in cryptocurrencies as an experiment. After all, the growth of bitcoin began not yesterday, but at the end of the year many investors assess the profitability of their investments. If large financial players invest in bitcoins, this increases confidence and demand for it.

Another reason may be a general increase in the activity of buying or exchanging bitcoins or other cryptocurrencies. Here again the principle works: the greater the demand, the higher the supply. According to this version, the whole thing is in the hype around bitcoin.

There is another version that is relevant, rather, for the US market: some analysts say that the interest and demand for bitcoins and the cryptocurrency market led to Thanksgiving and a holiday weekend, as families gathered and discussed the most important developments and technologies, including bitcoin.

Layer1 to Receive $50M Investments

These investment helped the startup to reach $200M market value and and will be used to enter mining market
16 October 2019   111

Layer1, backed by the Digital Currency Group (DCG) raised $ 50 million from a number of well-known venture capitalists, including PayPal co-founder Peter Thiel.

According to The Block, thanks to the successful closure of the Series A financing round, the company's market value reached $ 200 million.

Initially, the company focused on supporting the ecosystem of confidential cryptocurrency Grin. However, now the San Francisco-based firm intends to focus on bitcoin mining and plans to compete with Chinese miners over time.

We expect our chips to be competitive for at least eight years now...you want to have your own chips in hand. We also have our own electricity substations: effectively that's as close you can get to owning your own power plan.
 

Alexander Liegl

CEO, Layer1

To implement this plan, the company acquired land in Texas for the construction of substations, entered into a partnership with a Beijing manufacturer of semiconductors and built its own infrastructure for cryptocurrency mining. Ligl added that Layer1 intends to become a vertically oriented company that controls every element in the mining business process chain.

The company also intends to enter the lending and crypto derivatives markets.