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Bitcoin Tuesday aims to raise $1M for good causes today

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Bitcoin Tuesday, a crypto-based charity event hosted by The Giving Block, is looking to raise at least $1 million in donations today and over the rest of the month of December. The fundraising target makes Bitcoin Tuesday one of the largest crypto-based charity events ever. 

The Giving Block has secured partnerships with over 120 nonprofits and 30 blockchain companies to spearhead the charity drive.

Some of the biggest names in crypto will participate, including:

  • Gemini
  • Ledger
  • Blockfolio
  • Maker
  • Celsius Network
  • Flexa
  • 0x

Along with many other blockchain companies, they are stepping up to help charities collect Bitcoin (BTC) and other cryptocurrency donations before the holidays.

The charities accepting donations on Bitcoin Tuesday include:

  • Save The Children
  • American Cancer Society
  • WaterAid America
  • Foundation for Economic Education
  • Stack Up
  • Center for Policing Equity
  • No Kid Hungry

Bitcoiners are committed to social good, and this is one opportunity to make a practical difference beyond the choice to disrupt the financial system. It’s a chance to help Save The Children or to promote justice before the law through the Center for Policing Equity.

Your donation could go toward Trees for the Future, fresh water in Uganda, providing meals for senior citizens or finding homes for pets in rural America. There are over 100 charities participating, any of which will be grateful for your support.

The Giving Block told Cointelegraph that Bitcoin Tuesday 2020 will see “1,000% growth in nonprofits accepting cryptocurrency donations.”

According to The Giving Block:

“All our charities accept more than just Bitcoin. Bitcoin is front and center, but you can donate every crypto currently supported on Gemini.”

They also believe that nonprofits themselves can aid crypto adoption by offering users the opportunity to donate via digital assets:

“Nonprofits adding crypto as an option across their website and platforms, calling for crypto gifts in their communications, posting about crypto on social media. This drives their mainstream audiences into the crypto scene which is invaluable.”

Cointelegraph is also participating in the event and is working with The Giving Block to produce a charity Crypto Trivia quiz featuring top personalities in the blockchain space, to be held on Dec 10.

You can donate crypto to your favorite charity by visiting The Giving Block website. Select the organization you would like to support, and pledge your crypto now for a good cause.

Bitcoin Tuesday aims to raise $1M for good causes today

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BTIG Goes Ultra Bullish ON Bitcoin, Targets $50,000 for 2021

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Strategists at BTIG are convinced that Bitcoin has finally “come off age” and will be making an upward price movement in the future. Now, they are setting a $50,000 price target on the premier cryptocurrency by the end of 2021.

Bitcoin’s journey to the moon

Bitcoin has been reaching new highs towards the end of the year. According to Coin Metrics, the cryptocurrency topped its 2017 highs of $19,000. The price movement of the coin has constantly gone northward. After it reached the $19,000-mark last week, it took a small backward tilt to $17,000 before eventually reaching highs over the weekend.

BTIG Goes Ultra Bullish ON Bitcoin, Targets $50,000 for 2021

However, the 2020 bull market is very different from the 2017 market. The 2017 bull market was a result of frenzied trading as the crypto asset grew into a bubble that eventually popped in 2018. However, this time, the price rise is fueled by increased investments in the cryptocurrency from institutional investors. Moreover, governments and major investors, especially in China, are also showing more interest in the digital coin.

Other bullish predictions

BTIG is not the only bullish prediction in the cryptocurrency space. Other analysts are also giving their bullish predictions about the cryptocurrency for 2021. Citibank analyst Tom Fitzpatrick has an even more mind-boggling view. He recently wrote a note in which he detailed how Bitcoin could hit $318,000 by the end of 2021.

Most predictions are taking better crypto adoption as one of the primary reasons behind this goal. The growing number of crypto transactions on Square and PayPal’s interest in digital currencies is showing a real-world use case for Bitcoin which will make it a part of everyday life. Fitzpatrick also suggests that looking at the movement of Bitcoin between 2010 and 2011, it is possible that the same trajectory repeats in 2021 as well. The impact of the coronavirus and the actions taken by the US Federal Reserve will play an important role in this.

BTIG Goes Ultra Bullish ON Bitcoin, Targets $50,000 for 2021

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Bahrain and Saudi Capital of Riyadh Named as Top Fintech Ecosystems to Watch Closely: Report

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The Kingdom of Bahrain and Saudi Arabia’s capital city Riyadh were recently chosen as the top Fintech ecosystems to watch closely, according to a report from research organization Startup Genome.

The researchers at Startup Genome analyzed the economies and deal activities of several different countries. The research team has prepared their report after carefully looking at factors such as funding, exits, talent, focus, and key ecosystem participants such as company founders and policymakers.

Bahrain and Riyadh were notably the only two GCC members that were named in the report as Fintech markets to keep an eye on, along with Japanese capital city Tokyo, Melbourne in Australia, Frankfurt in Germany, and Cairo in Egypt.

Some of the main benefits offered by these fast-growing Fintech hubs included wage subsidy programs from Bahrain’s Labor Fund (Tamkeen). This fund offers a liberal 0% corporate and personal tax scheme along with the Bahrain government’s $11.3 billion Coronavirus stimulus relief package to support local business during these unprecedented times.

As mentioned in the report, the Saudi capital of Riyadh has been focused on the fast-growing digital commerce space. It’s supported by a tech savvy population and a rapidly evolving logistics industry, which has resulted in Riyadh being listed as a Fintech ecosystem to watch closely in the coming years.

The report states:

“Bahrain ranks first in the MENA region and second globally in terms of Islamic finance regulation according to the Global Islamic Finance Report thanks to its standards on crowdfunding and Open Banking. The Bahraini government has reduced capital startup requirements from $50,000 to $100 for some businesses and introduced a regulatory ‘sandbox’ for Fintech.”

The report from Startup Genome also mentioned that Bahrain, Riyadh, Abu Dhabi and Dubai were named as the top Fintech markets in the Middle East region.

Dr. Ebrahim Janahi, CEO at Labor Fund Tamkeen, stated that Bahrain has managed to establish itself as a fast-growing Fintech hub. He added that within a short period of time, the country has built on its track record as a financial centre, and has adopted progressive regulations. Dr. Janahi also said that Bahrain remains committed to “nurturing new talent for this innovative sector.”

Dalal Buhejji, Director of Business Development for Financial Services at Bahrain Economic Development Board, remarked:

“Our ranking as one of the top Fintech ecosystems to watch is testament to Team Bahrain’s years of hard work building an environment that empowers firms of all sizes to rapidly bring new ideas to market. Our financial services sector is one of the most established in the Gulf region, and we have capitalized on that expertise to enable a shift towards digitalisation – something that has been of particular interest among traditional financial institutions during the global pandemic.”

Bahrain’s Labor Fund Tamkeen is a key source of government funding, which includes financial grants and subsidies. Tamkeen is an important part of Bahrain’s support structure for early-stage firms and includes Startup Bahrain, a community-backed project, local angel networks such as Tenmou, accelerators like Flat6Labs and BRINC, VCs such as Middle East Venture Partners and 500 Start-ups. There’s also a $100 million Fund of Funds, called Al Waha.

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