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Why is Bitcoin Skyrocketing? The Cryptocurrency Hits 2023 Record High
Bitcoin recently saw a big price increase. The cryptocurrency reached $35,150, making it the highest price in 2023. Experts say this jump is partly because people think a new Bitcoin ETF will soon launch in the U.S. Right now, the price of Bitcoin is $34,702, up 13.38% in just one day, according to data from CoinMarketCap.
Since the start of this year, Bitcoin's value has nearly doubled. However, it's still much lower than its all-time high. That was $69,000 back in 2021. People are hopeful that a U.S.-based Bitcoin ETF could bring a lot of money into the market. NYDIG, a finance company, thinks it could be as much as $150 billion.
Lucas Josa, a market analyst, adds more information. He works for Mynt, which is part of BTG Pactual, a financial services company. Josa says the price went above $32,000 when news came out about a possible ETF from BlackRock. BlackRock is a big deal because it's the world's largest manager of assets like stocks and bonds.
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🚜 Farmers are selling their pre-purchased fertilizer at double what they paid instead of planting a crop.
Let that sink in. It is more profitable to sit out the season and flip your input costs than to put seed in the ground.
Soybean farmers lost $100 an acre last year. Corn farmers are looking at $50 to $100 losses this year. So what is the response? Switch from corn to soybeans.
Soybeans make their own nitrogen. They do not need the fertilizer corn demands.
The problem is we are already oversupplied on soybeans. More soybeans on a flooded market just drives prices lower.
Fertilizer prices have gone through the roof. The Strait of Hormuz disruptions made it worse. Farmers who locked in fertilizer early are reselling it instead of using it.
That is how broken the commodity food system has become.
🔗 AcmeAcres.us (@idahobeef)
📞 🇺🇸 👨💻 Two national laboratories on Long Island have successfully used quantum entanglement to transmit information in open air, potentially leading to a revolutionary transformation for communications and information technology.
The FSO link — which includes the Quantum Lighthouse and Quantum Watchtower, along with a third facility under development at Yale University in New Haven, Connecticut — adds a wireless component to the record-setting quantum network currently spanning 161 miles and several institutions across Long Island and the New York metropolitan area.
Using this network, pioneered by Stony Brook and Brookhaven Lab, researchers can transmit entangled photons through commercial fiber. Because the particles remain entangled even when separated by long distances, measuring one photon instantly reveals information about its counterpart. This property, often referred to as “spooky action at a distance,” is key for the future of ultra-secure communications, ...
📞 🇺🇸 👨💻 Two national laboratories on Long Island have successfully used quantum entanglement to transmit information in open air, potentially leading to a revolutionary transformation for communications and information technology.
The FSO link — which includes the Quantum Lighthouse and Quantum Watchtower, along with a third facility under development at Yale University in New Haven, Connecticut — adds a wireless component to the record-setting quantum network currently spanning 161 miles and several institutions across Long Island and the New York metropolitan area.
Using this network, pioneered by Stony Brook and Brookhaven Lab, researchers can transmit entangled photons through commercial fiber. Because the particles remain entangled even when separated by long distances, measuring one photon instantly reveals information about its counterpart. This property, often referred to as “spooky action at a distance,” is key for the future of ultra-secure communications, ...
