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Bitcoin targeting $200 Billion market cap

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Bitcoin

Current market cap of Bitcoin is hovering around the $196 billion mark and price is targeting $12000, If bitcoin cross the $12000 then total market cap of world’s largest crypto currency will cross $200 billion mark.

According to data compiled by https://coinmarketcap.com/ , current market cap of Bitcoin is standing at $196 billion with price around $11500 at the time we are writing this article.

Bitcoin price and latest market developments

According the latest market developments, US exchanges like CME, CBOE and NASDAQ are launching Btc futures which would be a revolutionary step towards adaptation of crypto currency in biggest economy of the world, US hedge funds are already pouring their money in Bitcoin but that money is nothing in front of potential inflow from US future exchange traders.

BTC dominance in the market is still at 56% making it the most valuable crypto currency in the world, despite of several pull backs and corrections, price of world’s biggest crypto currency is still near all-time high, and inching closer and closer towards the $12000 per BTC market.

Total Market Cap of Crypto Market crossed $35o Billion 

Total Market cap of Crypto currencies crossed $350 billion mark and currently stands at around $352 billion.

According to current Standing, Top 5 crypto currencies are 

  1. Bitcoin: $196 billion
  2. Ethereum: $44 billion
  3. Bitcoin Cash: $26 billion
  4. Ripple: $9.6
  5. IOTA: $8.8

 

 

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Crypto Roundup

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Is Toronto Next to Accept Bitcoin for Property Taxes?

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Toronto is the biggest city of Canada with a population of more than 6 million. It’s also one of the leading global financial centers which makes it an attractive place for investors.

Bitcoin has emerged as the leading cryptocurrency in the world and attracted a lot of attention from financial investors. There are many crypto exchanges and investors in Toronto, which makes it an important destination for crypto startups and investors.

Recently, there has been a surge in usage of Bitcoin in the Real Estate world as lot of companies around the world are now accepting Bitcoin for buying and selling of properties. In April 2019, Innisfil, A town located in Ontario, at a distance of about 1 hour drive from Toronto, announced that they will accept Bitcoin for property taxes at the municipal level. In July this year, Richmond Hill announced that they are ready to accept Bitcoin as a payment method for property taxes.

Evan Kuhn, Co-Founder of a Toronto based crypto exchange Coinberry believes that integration of Bitcoin as a payment method for property taxes in Toronto can reduce cost, not only for tax payers, but for municipalities as well. Kuhn mentioned


“It doesn’t cost homeowners to use the service, and it costs the municipalities far less in processing fees”



“A credit card company charges a 3% fee,” he said. “Our fee is .5%, so that’s a lot more beneficial for the municipalities.” 


He further explained the entire process to make it simple for the users and for the authorities. “When a resident makes a payment through our exchange, the company immediately converts the Bitcoin into Canadian Dollars and pays the relevant authority, so in basic concept this entire process works like a credit card system but with lower fee for both parties”

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Morning Crypto Roundup

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  1. Crypto market entered into a consolidation phase, with market cap at around $265 billion, market is currently trading in a range
  2. Bitcoin stays above $10,000
  3. Gray scale reported in a recent report that there are 7.1 million active Bitcoin users worldwide with more than 32 million Bitcoin wallets.
  4. After Innisfil and Richmond Hills, is Toronto next to explore an opportunity to pay property taxes through Bitcoin?
  5. According to a report from CryptoCompare.com, Untrusted crypto exchanges are dominating the crypto volume with more than 2/3 share

 

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