Bitcoin mining in Kazakhstan, Maximalists located in Africa and Wilshire Phoenix files for BTC Fund

Photo by Michael Berdyugin on Unsplash

Kazakhstan Plans to Attract $738 Million for Bitcoin mining

Kazakhstan is making plans to attract 300 billion tenge (US$738.4 million) of investments in the next three years from cryptocurrencies and from investing in digital mining.

This is explained by the Kazakh Minister of Digital Development, Innovation and Aerospace Industry Askar Zhumagaliyev. He addressed this strategy at the 11th of June at a plenary session of the Senate, the upper house of the Kazakh Parliament.

“We studied the experience of other countries, such as the United States, Sweden, and South Korea. We see today that activities such as digital mining and cryptocurrency are part of our everyday lives.”

The document was adopted by the Senate and is now awaiting approval by the Kazakh President.

Source: Astana Times

Search Interest for Bitcoin Highest in Africa and South America

Google Trends data compiled by Blockchaincenter.net shows search interest in Bitcoin is highest in Kenya and Brazil.

The data shows the level of cryptocurrency interest worldwide in an interactive map. It reveals that Bitcoin searches are most concentrated in countries in Africa and South America.

Most of the altcoin believers are from Slovenia, Ireland (both 76%) and Venezuela (75,2%)

Wilshire Phoenix Files With SEC for Publicly Traded Bitcoin-Backed Fund

Investment firm Wilshire Phoenix just filed with the SEC for a tradeable Bitcoin fund. This one is similar to the Grayscale Bitcoin Trust.

To make this happen, Wilshire Phoenix has filed an S-1 registration statement to be in line with regulation. The registration reads:

“The Shares will provide investors with exposure to bitcoin in a manner that is accessible and cost-efficient without the uncertain and often complex requirements relating to acquiring or holding bitcoin.”

The value of the Bitcoin held by Bitcoin Commodity Trust (BCT) will follow a Bitcoin price index listed by the Chicago Mercantile Exchange (CME).

This is known as the CME CF Bitcoin Reference Rate, or BRR, the index tracks Bitcoin’s price across multiple industry exchanges, which is the same rate used by the CME to cash settle its regulated Bitcoin Futures

Source: Cointelegraph

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