Hedge fund manager Ray Dalio remains bullish on Bitcoin (BTC) in 2022, listing three primary reasons why Bitcoin is “impressive.” In a recent interview with The Investors Podcast, he talked up gold and BTC as an inflation hedge.

When prompted by interviewer William Green about what a sensible allocation for a layperson would be, Dalio said that he agrees with fellow billionaire Bill Miller’s suggestion that 1%–2% is the right allocation.

He explained that the network has never been hacked; it has no better competitor; and BTC adoption rates would suggest that it could further chip away at gold’s market capitalization:

“Bitcoin now is worth about $1 trillion, whereas gold that is not held by central banks and not used for jewelry is worth about $5 trillion. When I look at that, I keep that in mind because I think, over time, inflation hedge assets are probably likely to do better.”…read more.

Internal government documents show that federal officials are concerned about the economic impact that would result if the Bank of Canada develops its own cryptocurrency.

The Bank of Canada has spent years studying the feasibility of developing a digital currency or virtual dollar, but so far hasn’t seen a need to issue one.

However, internal government documents obtained by the Canadian Press show that federal officials are concerned that the issuance of a digital currency would cause “wide-reaching implications for the economy, the financial system” and the Bank of Canada’s operations.

The documents also show the central bank held a series of meetings with federal officials over the course of 2020 to gauge the implications of a “digital Loonie” on departments and agencies…read more.

The number of Ethereum addresses holding at least 1,000 ETH dropped to a four-year low this week.

Ethereum is having difficulty keeping its richest investors in line as its native token, Ether (ETH), hints at logging more losses in the near term.

Blockchain data analytics service Glassnode revealed that the number of Ethereum addresses holding at least 1,000 ETH dropped to 6,292 this Monday, the lowest reading since April 2017. At its year-to-date peak, the numbers were 7,239 in January.

On-chain analysts typically observe ETH distributions among addresses to realize retail and institutional sentiments. They consider wallets that hold above 1,000 ETH (around $3.92 million at currency exchange rates) as “whales,” primarily for their ability to influence interim market trends via large sell and/or buy orders.

But as the numbers of these so-called whales drop, it reflects an ongoing selling trend among the richest Ethereum wallet owners. For instance, the number of Ethereum addresses that hold at least 10,000 ETH (or around $39.20 million) has also plunged, from 1,208 in June to 1,156 at the time of this writing, marking an almost 4.5% decline…read more.

According to a report by CNBC, bitcoin miners have found ways to keep operating in China despite the country’s comprehensive efforts to crack down on the industry.

China used to be the country with the most significant share of hashrate. But that began to change in May when Chinese authorities began cracking down on Bitcoin and bitcoin mining. The increased regulatory scrutiny led to tangible impacts on BTC miners and exchanges, which started limiting or putting an end to their activities. In under a month, the Chinese crackdown led ASIC maker Bitmain to stop sales, a sharp decline in Bitcoin’s total hash rate, and an “ASIC exodus” to ensue as the bitcoin mining landscape began to change.

By September, China had issued a complete ban on Bitcoin. Despite the prohibition, the peer-to-peer network saw nearly 145 Bitcoin nodes still running on Chinese soil after a few days. According to data from Bitrawr.com, there are currently 125 nodes in the Asian country. Similarly, it appears that not all bitcoin miners have fled China.

Ben, a Chinese miner, told CNBC that he had gone underground, spreading his mining equipment across multiple locations to decrease the chances of being spotted on China’s power grid. He has also taken steps to conceal his digital geographical footprint and go behind the meter, pulling electricity from small power sources unconnected to the country’s larger grid…read more.

A Bitcoin wallet containing millions of dollars worth of Bitcoin has come out of dormancy. For one reason or another, the wallet has not transacted for years despite having what is considered life-changing money.

The wallet had not been used since 2013, barely a few years after the mysterious Bitcoin creator Satoshi Nakamoto disappeared. The wallet currently contains $15 million worth of BTC, and it’s unclear who owns this account or why it was reactivated on Tuesday.

The wallet has 321 BTC. After eight years, the value of this amount has increased from $6,594 to a staggering $15,103,046. By now, the funds in the wallet had appreciated almost 2,300 times.

The Bitcoin community is abuzz with speculation about who owns the wallet and why it has just come out of dormancy. Some believe that it could be a whale — an individual or group with a large stash of Bitcoin — who is about to make a move that will shake up the market…read more.