The Crypto Feed Daily

November 19th, 2020

Poker site is doing $100 million in bitcoin payouts per month, Taproot support above 50% of network hashrate, and Deutsche Bank research strategist sees more investors viewing bitcoin as credible asset.

According to Bloomberg, Winning Poker Network, which operates multiple sites including AmericasCardRoom.eu, has seen a massive increase in demand for payouts via bitcoin. Winning Poker Network CEO Phil Nagy says the company is having to purchase around $100 million worth of bitcoin per month to keep up with demand.
According to the Taproot Activation web page, three more mining pools are now signalling support for the much-anticipated Bitcoin network improvement. The three pools are F2Pool, AntPool, and Luxor, and they bring the network hashrate's estimated support for Taproot to roughly 54%, according to data from BTC.com.
Over at ZeroHedge, a note from Deutsche Bank Research Strategist Jim Reid stated more investors are starting to see bitcoin as a credible asset to buy and hold. "There also seems to be an increasing demand to use Bitcoin where Gold used to be used to hedge Dollar risk, inflation and other things," added Reid.