Bitcoin prices continue to rally as the cryptocurrency traded 0.44 percent higher on Sunday to reach $55,180.85 at 8:41 p.m. Riyadh time.
Its closest rival, Ether was down 2.18 percent at $3,522, according to data from CoinDesk.
Illegal mining
Illegal cryptocurrency mining in Iran risks causing new power cuts this winter, the state electricity company warned on Sunday.
The activity will account for at least “10 percent of electricity outages this winter,” the power company said in a statement.
Such illegal mining was responsible for 20 percent of blackouts over the summer, it added.
Iran was among the first countries in the world to legalize the mining of bitcoin and other cryptocurrencies in September 2018, but it requires miners to have a license.
Animal care
El Salvador will invest some of the $4 million gains it has obtained from its bitcoin operations to build a veterinary hospital, President Nayib Bukele said on Saturday.
The Bitcoin Trust, which Congress authorized in August, with a balance of $150 million, now has a “surplus” of $4 million, Bukele said.
“So we decided to invest a part of that money in this: A veterinary hospital for our furry friends,” Bukele wrote on Twitter.
Bukele said the veterinary hospital would services for basic and emergency care as well as rehabilitation.
Initial steps
In preparation for the regulation of the fintech field, Sri Lankan government has established a special public-private sector commission tasked with formulating the country’s policy on digital banking and crypto-related activities.
Adoption
The pro-bitcoin senator, Cynthia Lummis, revealed her recent bitcoin purchases in a periodic transaction report.
Sen. Lummis revealed her bitcoin purchases, worth between $50,000 and $100,000, as she believes that bitcoin is an excellent store of value and should be in every investment portfolio.