Tag: Bitcoin

U.S. Government Conducts Test Transfer of Silk Road Bitcoin

The U.S. government tested moving seized Silk Road Bitcoin (0.00000546 BTC) ahead of selling 69,000 BTC worth $6.5B.



The U.S. government just made a tiny Bitcoin move from the FBI-controlled wallet holding Silk Road’s seized stash. On January 10 of this year, a small test transaction of 0.00000546 BTC (around $0.51) popped up on the blockchain, hinting at prep work for bigger moves. It’s basically the government dipping its toes in the water to ensure smooth transfers later.

This wallet isn’t just any wallet—it’s a treasure chest of about 69,000 Bitcoins, valued at a jaw-dropping $6.5 billion. These were confiscated from someone who snagged them from the infamous Silk Road marketplace, a dark web hub for illegal deals back in the day.

Why does this matter? Well, the FBI has the green light to offload these coins. And this test suggests the big sell-off could be just around the corner. When such a massive amount of Bitcoin enters the market, it’s bound to stir things up, potentially shaking Bitcoin’s price.

For now, though, the move is more about logistics than market impact. But keep an eye out—when Uncle Sam starts cashing out billions in Bitcoin, it’s going to be a headline-grabber. For the crypto space, this is a major flex and a moment to watch.

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70-Year-Old Woman Loses Crypto Fortune in LA Wildfire

It has also been one of those really sad twists of fate when a 70-year-old lady from Los Angeles lost her cryptocurrency savings to the ravaging Southern California Wildfires. This is according to the story given by the nephew on X, earlier known as Twitter, where, even though the lady’s Bitcoin wallet was intact, the private key necessary for gaining access to the wallet got lost during the fire.

She had been storing the private key to unlock them on paper, tucked away somewhere in her home-with no backup and no recovery method. Without it, her crypto-she is predominantly holding Bitcoin-was essentially gone forever.

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That loss is another, even more significant, spark for online conversations about cryptocurrency storage security and redundancy. These incidents have experts again encouraging people to consider options ranging from metal backups for private keys and multi-signature wallets to even newer, seedless wallet technologies that afford added layers of security.

The story painfully reminds us of how digital assets can become so vulnerable when natural disasters strike. With the fires still burning across areas such as Malibu and Pasadena, many more are likely to have sustained similar losses, both in their homes and their crypto investments.

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While technology brings great freedom to finances, this incident is a strong reminder of how important planning for the unexpected is.

Thailand Police Bust Bitcoin Mining Operation Stealing Millions in Power

Thailand’s police have raided a large-scale illegal Bitcoin mining facility in Chon Buri, seizing 996 rigs of computer miners and finding the operation siphoning millions of dollars’ worth of electricity. The joint operation by the Crime Suppression Division and Provincial Electricity Authority targeted a facility operated by JIT Co. on January 8.

Authorities said JIT Co tampered with power meters to run the mining rigs without detection, operating on stolen electricity at night and switching to legal power during the day. While the site had solar panels installed, they were not connected to the mining equipment. The stolen electricity is estimated to have cost the state over $2.88 million (hundreds of millions of baht).

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Mining Bitcoin in Thailand is notoriously expensive, with the cost to mine a single Bitcoin coming in at around $17,930 — 825 times the average monthly electricity bill for a Thai household.

Although the Bangkok Post identified JIT Co. as being linked to the operation, investigators have yet to name suspects, adding that arrest warrants are sought, sources said.

There have been various reports of crypto mining crimes across Southeast Asia. Malaysian authorities estimated the value of the electricity used by crypto mining companies to be about $723 million from 2018 until 2023 – equipment seized by the authorities there usually faces a crushing end.

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Meanwhile, Thailand is going another direction. The country tests crypto payments as a pilot in Phuket in hopes of luring back foreign tourists. Former PM Thaksin Shinawatra recently called on the government to open up to cryptocurrency if it wanted to be globally competitive.

$760 Million in Bitcoin Lost Forever in UK Landfill

A UK court has rejected a decade-long quest by a British man to recover a hard drive containing Bitcoin worth over $750 million, in which he asked to excavate a Newport landfill.

James Howells, an IT worker who became a Bitcoin millionaire on paper, accidentally threw it away during one of his office clean-ups in 2013. It was worth a couple of thousand dollars at the time. Fast-forward to today, and that same drive boasts an eye-watering $760 million in value of digital gold, now buried beneath tons of waste.

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Howells suggested a hazardous, $12.3 million excavation plan; he promised that 10% of the funds recovered would be given to the local council and community. However, due to considerable ecological hazards-the possible digging up of the landfill, ecological damage, and breach of laws on the environment-the Newport Council refused to permit the excavation.

Undeterred and frustrated, Howells took the matter to court, requesting either access to the landfill or $608 million in damages. The council said it was right because the hard drive, upon being thrown away, became its property. The court, emphasizing environmental concerns and the rules of ownership for a landfill, sided with them.

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But even then, that did not deter Howells, and he is considering creative options of tokenizing the lost Bitcoin into some new cryptocurrency. The treasure hunt isn’t over just yet for him.

Bitcoin Freedom Act: A Step Toward Payment Flexibility in Oklahoma

Oklahoma State Senator Dusty Deevers has filed the “Bitcoin Freedom Act” in order to make the nascent technology applicable to everyday life. The would-be law, SB 325, if enacted would allow workers in Oklahoma to get paid in Bitcoin and permit businesses to take Bitcoin for payment by customers. Participation would be completely voluntary, making it meet any definitions of free-market principles.

This is a growing trend in the U.S., as states consider the potential of decentralized currencies such as Bitcoin. The bill could mean a way to greater financial flexibility and a signal of Oklahoma’s readiness to adopt modern forms of paying for goods and services.

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Adding a twist to the crypto conversation, the recent victory of Donald Trump brought a whole new angle into discussion. Though Trump personally has been a vocal critic of Bitcoin, his last year campaign proved very open toward innovative financial technologies. This may affect federal policies related to cryptocurrency and probably speed up mainstream Bitcoin adoption once Trump assumes office in 2025.

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As Oklahoma’s state legislature heads into its next session this coming February 2025, the nation will be watching. Should it pass, the Bitcoin Freedom Act could set a national model on how states balance innovation with regulation, further advancing the role of cryptocurrency in the evolving financial landscape.

Mark Cuban Chooses Bitcoin Over Gold as an Economic Hedge

Billionaire entrepreneur and owner of the Dallas Mavericks Mark Cuban once again has come up with a strong endorsement for Bitcoin. While speaking of its value, he confidently stated, “I think it (BTC) has more value,” and made it crystal clear he’d choose Bitcoin over gold during an economic crisis.

That created a new, emergent view: Bitcoin as “digital gold,” or, differently said, the renewed version of this very old metal. Unlike gold-traditional refuge during turbulent times-Bitcoin boasts some extraordinary advantages: it is portable and divisible, and it can be transmitted across borders without storage and physical movement.

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Cuban’s optimism about Bitcoin is not new, though. During the year 2024, he expressed and doubled down on his support for both Bitcoin and Ethereum and strongly and very firmly made other investors aware and warned them off meme coins he called “a game of musical chairs.”

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With more investors looking for alternatives to traditional assets, Cuban’s endorsement points to a way where Bitcoin can reshape the future of finance. Because of its decentralized nature and growing adoption, Bitcoin is rapidly emerging as a cornerstone of a digital and resilient economy.

Thailand Pilots Crypto Payments for Tourists in Phuket

The new bold idea being tried by Thailand: letting tourists pay with cryptocurrency while in Phuket. Led by Deputy Prime Minister Pichai Chunhavajira, this initiative is being taken to make the life of travelers a bit easier while trying to keep the country ahead in this competitive game.

This program is designed such that it still has to follow current Thai law, so no new regulations are required. Tourists will verify their identities through local crypto exchanges, and a system will automatically convert Bitcoin into Thai baht for merchants. “We won’t do anything illegal,” Pichai reassured this while doing a seminar which was organized by the Marketing Association of Thailand.

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Phuket is an ideal place for this experiment because it is a popular tourist destination. It already has a sizeable population of foreign nationals, including refugees from the Russia-Ukraine war. According to Pichai, Bitcoin might be used for large transactions, such as buying real estate, to make things easier for them.

Crypto giant Binance, too, is making big bets on Thailand, praising its friendly regulations as it pushes to make crypto mainstream. But the safety concerns linger. Just this month, a Russian man in Phuket was violently robbed of $20,000 in a crypto-related dispute-a face to the risks tied to digital assets.

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Still, the crypto scene keeps developing in Thailand. Even now, a small town already makes everyday purchases in Bitcoin Lightning in the province of Kalasin-a sure-fire indicator that the future of crypto is bright in Thailand.

Andrew Tate Launches BRUV Party with Bitcoin Agenda

Andrew Tate is proposing a new political party, “Britain Restoring Underlying Values (BRUV),” on the most extreme platform, including blockchain-based voting and the creation of a national Bitcoin reserve. Tate, who has been under house arrest in Romania, took to social media to announce the party and its manifesto, saying his Bitcoin policies would “future-proof Britain’s economy” and insulate it from foreign economic blackmail.



The BRUV manifesto also flaunts far-right controversial policies, including capping non-British residents to 10%, deploying the Royal Navy to block tough immigration, and a ban on LGBTQ+ content in schools. Others include replacing modern art with monuments of British heroes and live-streaming knife crime offenders in solitary confinement-policies that critics have described as unfeasible and bizarre.

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The manifesto, while full of bombastic claims, has been ridiculed for AI-generated visuals, spelling errors, and a lack of sourcing. Tate went so far as to take to social media to back Donald Trump’s suggestion that Greenland join the U.S., calling resistance “insanity.”.

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He is not listed with the UK Electoral Commission and questions have also been raised over how much Tate knows about British politics. The news comes amid personal attacks on the Labour leader, Sir Keir Starmer, from figures on the right – including Elon Musk, who recently made a series of groundless claims about him.

Peter Brandt Predicts a Potential Massive Crypto Crash in 2025

Peter Brandt warns a HUGE 50% Bitcoin crash is coming this year. His predictions include major losses for over-leveraged traders and altcoins.

Peter Brandt, a trader with more than 50 years of experience has raised some serious red flags regarding the current state of the crypto market.Even though last year’s end were Bitcoin’s best days, managing to peak at $108K, Brandt still thinks some correction is to be made and its coming down this year.

He thinks Bitcoin could drop as much as 50%, potentially falling to $50,000. But it’s not just Bitcoin he’s concerned about. Brandt is predicting altcoins will lose up to 90% of their value, and meme coins might lose everything. His biggest piece of advice? Don’t get too caught up in the hype. A lot of newer traders, especially those who’ve gone way too far with leverage, could be in for a brutal wake-up call when the market shifts.

While Brandt is cautious, not everyone agrees with his outlook. Some analysts believe Bitcoin could hit $200,000 by 2026, and others expect a smaller increase to around $120,000 to $125,000 in the short term.

Brandt himself owns both Bitcoin and Solana, but he’s not expecting either to have another explosive run like they did back in the day. He even joked about it casually, comparing his investments to safer, more traditional stocks, like Kimberly-Clark.

What he truly wants everyone to learn is that crypto market is very unpredictable. The recent rally in Bitcoin is exciting, but Brandt warns traders to keep their heads level and be prepared for a correction—because in crypto, anything can happen.

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Ramaswamy’s Strive Asset Management Pushes for Bitcoin Bond ETF

Strive Asset Management, co-founded by Republican figure Vivek Ramaswamy, is doing a great work by filing for a Bitcoin Bond ETF with the U.S. Securities and Exchange Commission (SEC). This bold move coincides with the anticipation of Ramaswamy’s party reclaiming the White House come January 20th.

If greenlit by the SEC, this Bitcoin Bond ETF will hit the trading floor on the New York Stock Exchange (NYSE) which work really well as it offers a fresh avenue for traditional finance institutions to get in on Bitcoin action through bond investments.

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Strive plans to go big, allocating over 80% of the ETF’s assets to Bitcoin-related bonds, derivatives, swaps, and options tied to crypto-heavy companies. What’s cool? Investors could see income distributed weekly—a rare perk in the ETF game.

The company sees Bitcoin as more than just digital gold; it’s a hedge against global economic chaos. Rising inflation, geopolitical drama, and mounting fiat debt are what makes Bitcoin a really vital and important asset in today’s volatile world.

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By rolling out a Bitcoin Bond ETF, Strive isn’t just catching up it’s paving the way for Bitcoin’s full embrace by traditional finance. Think easier trading, live markets, and an open door to institutional crypto adoption.

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