Bitcoin News Summary – February 25, 2019

Here’s what happened this week in Bitcoin in 99 seconds.

Elon Musk, the tech entrepreneur and CEO stated that he considers Bitcoin’s design to be “quite brilliant” and views it as “a far better way to transfer value than pieces of paper.” Musk denied any plans to involve Tesla in crypto mining.

Last week, it was reported that online retailer Rakuten, considered Japan’s Amazon, may support crypto in its new payment app. The app is scheduled to launch in March.

Coinbase announced its acquisition of Neutrino, an Italian coin tracking startup. Neutrino’s CEO is notorious for having previously sold spyware to governments, police forces, and corporations.

Chinese crypto mining giant, and ASIC producer, Bitmain, revealed a half billion Dollar loss for the third quarter of 2018. Bitmain is revealing its financial state as it attempts to get listed on the Hong Kong stock exchange.

Electronics giant Samsung announced the features for its new S10 phone.  Among them was Samsung Knox, an integrated hardware wallet for the secure storage of crypto private keys.

And finally, Bitcoin’s blockchain is currently processing around 3.8 transactions per second or around 315,000 per day. This is the highest level since the peaks in 2017, when insufficient capacity drove transaction fees to record highs. However, fees currently remain low due to the extra capacity afforded by the SegWit and more efficient blockspace usage.

That’s what happened this week in Bitcoin. See you next week.

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