What is American Bitcoin (Real-time Chart of American Bitcoin)

What is American Bitcoin?Editor’s note: This article is from BlockBeats (ID: blockbeats) and authorized to be reproduced by Odaily Star Daily.

American Bitcoin is the world’s first cryptocurrency, but it still has some technical issues – it is not achieved through mining. Its value is issued and controlled by the government, banks, or other financial institutions, and this country has established its own digital asset network.

Why is American Bitcoin considered a legitimate cryptocurrency? Because there is no physical entity that can purchase it, and no one knows the company behind it. So the question is, does the US really have a completely different cryptocurrency, or is it just that an independent country issued this cryptocurrency and disowned it? It is possible, but the US is not the only globally operating company that does this.

If a country’s economy wants to support the development of Bitcoin, it definitely needs to regulate and standardize Bitcoin. American Bitcoin is such a system, where owning a state within the US allows the establishment of its own virtual legal tender.

American Bitcoin was born in the early 1980s and was only officially circulated on March 15, 2008, after being arrested by the US Secret Service for various reasons. The Bitcoin protocol was invented by Leonard Teller, one of the most famous “Satoshi Nakamoto” at the time. Since then, he has served as a member of the Federal Reserve Board and later became a member of the Federal Reserve. At the end of 2019, he became the first presidential candidate to publicly announce the establishment of his own digital USD stable mechanism. At the beginning of 2020, he also served as the chairman of the House Financial Services Committee, which is responsible for handling work reports of several senior officials nominated by President Biden.

By the end of 2020, around the end of February 2021, this former congressman issued a statement saying, “We are at a crucial stage in formulating new laws.” He said, “This provision will bring a lot of risks to people.”

According to him, the US policy environment does not allow the encryption industry to be affected, so they believe that the US will not take measures to ban the use of Bitcoin. However, the US side does not feel worried about this, and some politicians even consider it unsustainable. “What you want to do now is to use your money to buy Bitcoin instead of converting them into cash. I don’t know when I will be able to see it.”

Real-time Chart of American Bitcoin

According to CoinMarketCap data, as of 9:00 am today, Bitcoin is now reported at $8,980 (-4.37%).

In the past 24 hours, the total market value of the global cryptocurrency market was $287.947 billion, a decrease of 14.78% compared to yesterday; the 24-hour trading volume was $39.586 million, with the top five trading volumes being USDT ($8.4941 million), XRP ($0.5401 million), and BCH ($0.6045 million). Real-time chart of American Bitcoin source: Tradingview.com

Note: According to Bitcoinist’s report, ICE, the parent company of the New York Stock Exchange, approved Bakkt’s listing plan in early March.