Bitcoin is one of the most popular cryptocurrencies in the world. Its price has been on a roller coaster ride over the past few months, with its 24-hour trading volume recently blasting past $30 billion.
This has led to speculation that Bitcoin could be headed for the moon. Let's take a look at all the fundamentals that are driving the price action of the BTC/USD pair.Blockstream, a provider of digital asset infrastructure, has raised $125 million to fund its Bitcoin mining co-location services, demonstrating the rise in demand for institutional hosting during the bear market.
Blockstream announced on January 24 that the financing was backed by a convertible note and a secured loan. Furthermore, the funds will be used to expand the firm's bitcoin mining operations.
Bitcoin users are financially rewarded for securing the network through mining. Miners use special, energy-intensive technology to create Bitcoin's next block, for which they are rewarded with a fixed amount of Bitcoin.Read more on cryptonews.com