Bitcoin Price Smashes $72k as New Crypto Green Bitcoin Tops $3m in ICO

NEW YORK, March 11, 2024 /PRNewswire/ -- The bitcoin price has broken through $72,000 in spectacular fashion, spurring on crypto traders to find the best way to gain exposure to the bull run, which is where Green Bitcoin ($GBTC) comes in after raising $3.2 million in its ICO.

There's a lot of money now sloshing around the market looking for a profitable home, with bitcoin, at the time of writing, priced at an all-time high of  $71,945. Plus there's a wall of new money flooding in too. 

Green Bitcoin token ($GBTC) is perfectly positioned to be a magnet for those funds, speaking as it does to a receptive audience on the hunt for returns as well as an eco-friendly ecosystem.

Forget about Dogwifhat, BONK, MYRO, PEPE and the rest – Green Bitcoin is the grown-up in the room for stellar outperformance.

Those who bought bitcoin at the previous top near $69k on 1 November 2021 have been taking their opportunities to exit the market with small profits after suffering 75% drawdowns at the height of the so-called crypto winter.  

It is not just retail that is jumping into this market. As is now well understood, institutional interest is playing a much larger role in the market, thanks to the entry of the major asset managers like BlackRock and Fidelity through the approval of spot Bitcoin ETFs.

Priced at just $0.8022, $GBTC is racing towards sellout in double-quick time. Prospective buyers will need to do their due diligence before the next staged presale price increase.

Put simply, Green Bitcoin provides the opportunity to buy a crypto cheaply and with the chance of mushrooming in value in the way that bitcoin did. 

It is, perhaps, why YouTubers like Matthew Perry, with $215k subscribers, have noticed that Green Bitcoin is turning heads with its 'predict-to-earn' push:

🚨BRAND NEW PRESALE! Green #Bitcoin Is Turning Heads || Check It Out!!!

More than that, unlike the original bitcoin, Green BTC provides holders with passive rewards from staking. In an early promising sign, already 60% of the sold $GBTC has been staked, for a per-annum reward of 140%.

Fifty percent of the token supply is up for grabs in its open-to-all presale; viral growth of the presale is being driven by token sign-up bonuses up to 20%.

Although it can be argued that the worries about bitcoin devouring the electricity output of the world are overblown, the prodigious power consumption of the mining process is still a legitimate concern. Green Bitcoin, however, runs on the low-power Ethereum blockchain which now uses a proof of stake mechanism for verifying block transactions.

Whereas Green Bitcoin consumes a minimal 34 Wh (Watt-hour) per transaction, for bitcoin it is 1,173,000 Wh and Bitcoin Cash (BCH) 189.75 Wh and Bitcoin SV (BSV) 913 Wh.

Then there's the halving coming up in approximately 36 days. The block rewards for miners will halve from 6.25 to 3.125 bitcoin for each block. Miners compete amongst themselves to see who wins the battle to be selected as the miner to have their 'proof of work' accepted by the consensus protocol. 

Green Bitcoin is synced to coincide with the April 19th bitcoin halving event. All such previous events have seen a run-up in the price around the event, although this time bitcoin has hit an all-time high before the halving has even taken place. No wonder analysts are talking about bitcoin at $100,000 soon, and $250,000 by the end of 2024.

https://x.com/GreenBTCtoken/status/1766890087282016587

On the face of it, an obvious way to secure exposure to the bitcoin price explosion is to buy the shares of publicly traded miners. Yes, rewards are going to halve, but the price appreciation, if past performance is anything to go by, will more than compensate for that.

Still, although the miners approach is a valid strategy, set against Green Bitcoin there is a downside, or at least greater risk. 

First off, miners have a lot of debt hangover from the last bull run. What's more, they are, again, having to spend on capital equipment – ASIC processors that do the computationally expensive math problem-solving – as they compete with each other to be the most efficient miner. Debt plus rising capex equals a drag on profits, so it won't necessarily be all plain sailing for the miners.

Against that backdrop then, Green Bitcoin appeals as a less risky option. It is also likely to lead to a much heftier return on investment as new tokens in presale allow participants to contribute at the earliest stage of a project's life cycle.

And of course, there is no danger of increasing the strain on the aging national grid infrastructure in the US, where the miners seek out low-cost locales such as Texas and states rich in hydroelectric energy resources. 

So what is the value differential of Green Bitcoin? Basically Green Bitcoin is a predictions market, but it is doing things differently with a gamified green staking system. By identifying bitcoin trends and predicting prices, both new and seasoned crypto market participants can benefit from their wisdom and hunches. 

However, the staking aspect brings the possibility of deploying innovative strategies to maximize those rewards. Broadly speaking, Green Bitcoin is a predictions market, but it is one like no other.

The team's initial plans outline weekly challenges in which players stake their $GBTC for a chance of winning, by, for instance, successfully predicting the daily price movements of bitcoin. There will be a schedule of bonuses in place, of up to 100% of the tokens staked in specific challenges. Rewards will be paid out in $GBTC.

Ultimately the Green Bitcoin token derives its value from its role as the native currency of the decentralized predictions market network.

Through its merging of a novel staking system with gamified functionality, Green Bitcoin is setting out to bring together a community of highly engaged users who will keep coming back for more because of the uniqueness of its offering.

There are plenty of coins out there that have pitched themselves to the market as a 'better bitcoin'. There are some like Bitcoin Cash and Bitcoin SV that are forks of the original bitcoin blockchain and seek to solve its transaction bottleneck issues. 

At the other end of the spectrum are coins that lean on the brand name but have little to nothing to offer in the way of product utility, such as is on display with a host of bitcoin derivative tokens that are in essence meme coins. 

One such token is HarryPotterObamaSonic10Inu, which is listed with the $BITCOIN ticker on the Uniswap decentralized exchange. It has grown in value around 200x. If these sorts of low-utility tokens can prosper, then Green Bitcoin certainly can as well.

Buyers are also likely enjoying the welcome enticement of staking rewards for presale buyers. Rewards are emitted at a rate of 1.64 $GBTC per Ethereum block that is mined and will be disbursed over a period of five months. At the end of the distribution, Gamified Green Bitcoin Staking will be launched.

Market participants will want to take a look at a market proposition that has no current competitors and the power of the bitcoin brand name behind it. 

Arguably there is no better time to launch a gamified staking system built around bitcoin than at the beginning of what could be the mother of all crypto bull markets.

Stay in touch with news and developments at Green Bitcoin on X and Telegram.

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