Billionaire investor Mike Novogratz won half a bitcoin in an election bet, then gave it away through a self-hosted lottery | Currency News | Financial and Business News

  • Billionaire investor Mike Novogratz won half a Bitcoin in an election bet over the weekend, but then hosted a lottery to hand it out to “new Bitcoiners.” 
  • Novogratz, the CEO and founder of crypto-focused merchant bank Galaxy Digital, was expecting Democrats to secure both the White House and the Congress.
  • A Twitter user @Adelgary won the lottery, but others contested the outcome by claiming he already owns Bitcoin and isn’t new to the crypto world.
  • Half a Bitcoin is currently worth $7,726.
  • Visit Business Insider’s homepage for more stories.

Billionaire investor Mike Novogratz said he won half a Bitcoin in an election bet on Saturday, and gave it up in a self-hosted lottery to a Twitter user.

Half a Bitcoin is currently worth $7,726. Bitcoin has risen 10% in the past week, hitting $15,453 as of 10:20 am GMT on Monday. The price has gained almost 60% since

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PayPal cuts ties with domain registrar Epik over digital currency

PayPal has terminated the account of domain registrar and web hosting company Epik for violating its “risk controls,” prompting angry letters and blog posts from Epik alleging conservative bias was to blame, Mashable reported.



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© Illustration by Alex Castro / The Verge


Seattle-based Epik is perhaps best known for its support of right-wing social media site Gab. The site was banned by its hosting company, domain registrar, and PayPal in 2018, after it was discovered that the alleged shooter at a Pittsburgh synagogue had written anti-Semitic tirades on Gab. In a 2018 blog post, Epik CEO Robert Monster criticized what he called the “digital censorship” by other sites.

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According to Mashable, the issue that got Epik kicked off PayPal has to do with Epik’s digital “alternative currency” Masterbucks. It can be used to buy Epik products or converted into US dollars, and Mashable reports Epik did not

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Bitcoin has ‘considerable’ upside as it better competes with gold as alternative currency, JPMorgan says



Reuters / Dado Ruvic


© Reuters / Dado Ruvic
Reuters / Dado Ruvic

  • Bitcoin has “considerable” upside in the long-term as it better competes with gold as an alternative currency, JPMorgan said in a note on Friday.
  • With millenials set to become a more important market participant over the next few decades, their favorability towards bitcoin over gold should set up the cryptocurrency for success, according to JPMorgan.
  • But bitcoin still represents only a paltry sum of the gold market, and the cryptocurrency would have to surge 10x from current levels to match the same value of the physical gold market.
  • “Even a modest crowding out of gold as an ‘alternative’ currency over the longer term would imply doubling or tripling of the bitcoin price from here,” JPMorgan said.
  • Visit Business Insider’s homepage for more stories.

Bitcoin’s 2020 surge could be set to continue as the digital cryptocurrency better competes with gold as an

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Bitcoin has ‘considerable’ upside as it better competes with gold as alternative currency, JPMorgan says | Currency News | Financial and Business News


  • Bitcoin has “considerable” upside in the long-term as it better competes with gold as an alternative currency, JPMorgan said in a note on Friday.
  • With millenials set to become a more important market participant over the next few decades, their favorability towards bitcoin over gold should set up the cryptocurrency for success, according to JPMorgan.
  • But bitcoin still represents only a paltry sum of the gold market, and the cryptocurrency would have to surge 10x from current levels to match the same value of the physical gold market.
  • “Even a modest crowding out of gold as an ‘alternative’ currency over the longer term would imply doubling or tripling of the bitcoin price from here,” JPMorgan said.
  • Visit Business Insider’s homepage for more stories.

Bitcoin’s 2020 surge could be set to continue as the digital cryptocurrency better competes with gold as an “alternative” currency, JPMorgan said

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Woman sues Apple for hosting ‘gambling apps’ after spending thousands on in-game currency

Apple has been hit with a lawsuit alleging that free-to-play games on the App Store that feature in-game currency constitute illegal gambling.

The lawsuit, lodged Thursday in the U.S. District Court for the District of Connecticut, claims that Apple “promotes, enables, and profits” from gambling games on the App Store.

For example, the plaintiff in the case, Karen Workman, says she downloaded an app called “Jackpot Mania” in 2017, and “began purchasing coins through the app so he/she could continue to play for a chance to win free coins that would enable him/her to enjoy the game(s) for a longer period of time.”

In the six months before filing the suit, Workman spent $3,312.19 on in-game coins, the lawsuit adds.

Although gambling apps are banned on the App Store, the complaint argues that apps with in-game currency still fall under the “gambling” category because users “have the ability to win

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