Following are the major Bitcoin news of the day
21 Inc Plans to Distribute Bitcoin Mining Chips
After months of silence, Bitcoin startup 21, Inc. finally revealed its product before the media and the digital currency community. The company said to have been creating micro Bitcoin mining chips — BitShare — that would be incorporated into small devices for individual and corporate use. In a post published on medium.com, 21’s CEO Balaji Srinivasan explained that the chips, in addition to mining, can be used for authentication of devices, as well as to subsidize the distribution of smartphones in developing countries.
AFP Seized $80,000 in Bitcoins from Underground Marketplace
The Australian Federal Police (AFP), recently seized around $80,000 in bitcoins while investigating into an underground marketplace selling illegal weapons. The operation was carried out jointly by the United States Homeland Security Investigations (HSI), the AFP and the Australian Customs and Border Protection Service. In addition to Bitcoin, police also confiscated weapons and armories from the marketplace.
Bitcoin Shop Invests $1.5 Million in Spondoolies-Tech
Transaction verification company Bitcoin Shop, Inc. recently made a whopping $1.5 million investment in Spondoolies-Tech, a Bitcoin mining hardware startup. According to the available information, Bitcoin Shop bought a 6.6% stake of the aforementioned company, following which they would be able to manufacture a Bitcoin transaction verification system.