Is it worth talking about the main news of the week if there is a certain winner in the explosive twist category? Elon Musk has been delighting his fans with news for a few weeks. On Thursday, each of us woke up without an alarm clock, and all the investors in the world froze, waiting for the community’s reaction: A Tesla can be bought with Bitcoin in the US. Unbelievable? Yes. Expected? Definitely.
Traders have already noted that after this news, Tesla shares did not rise, and bitcoin’s price did not break a new historical high. But was that really Elon’s main idea? We dare to assume that the goal was the universal recognition of digital currencies, to which he goes step by step, starting a chain reaction. Next week, we will closely monitor the major companies. Will they follow in Elon’s footsteps, or will they continue to follow the path of less resistance?
By the way, at the time of writing, the price of bitcoin is $53,000 (-9%), Ethereum is $1,600 (-9%). Institutional demand in the US for Bitcoin has plummeted. The total investment in products focused on BTC and other digital currencies for seven days was $99 million — the inflow of investments fell by 59% (from $242 million) compared to the previous week.
The working week closed in the red zone. But let’s see what the upcoming weekend and new week have in store for us. In the meantime, let us tell you about the other main news of this week:
1. Lumi has released updates! Now you can manage your notifications about the status of transactions in ETH and tokens! Steps: 1. Open the app 2. Go to the main settings 2. Push the notifications tab. Now you don’t have to worry about your finances. You have transaction alerts. Get notifications about exchange / purchase transactions.
2. Jordan Belfort, whose story is the basis of the film “The Wolf of Wall Street,” admitted the fallacy of his position about BTC in the past and said that Bitcoin would be worth $100,000.
3. On Monday, there was a massive crash in Android apps due to an error in the Google service. That meant Android phone apps were crashing for many users. There was a massive panic on the web, and the support services of many companies were inundated with angry letters. The culprit was found very quickly. It appears that an update to the Android System WebView, which allows Android apps to display web content, was to blame.
4. The CEO of the Bank for International Settlements (BIS) calls for accelerating global crypto regulation implementation and believes that cryptocurrencies have become tools for criminals who want to circumvent banking legislation. He added that laws against money laundering and the financing of terrorism were “absent in many applications of some cyber currencies.”
Meanwhile, China has proposed international rules for central bank digital currencies (CBDCs).
5. Let’s talk a little about art. Interest in the NFT industry on Google approached a similar level of hype as the ICO had in 2017. According to CryptoSlam, over the past few months, works of art from the cryptocurrency world have been sold for millions of dollars, which had amounted to more than $ 1 billion in sales.
The most high-profile news of the week about NFTs: 1. The NFT-joke from NYT just sold for more than $ 563,000 in 24 hours. 2. The Russian Hermitage Museum will host an exhibition of NFT-Art in 2021. 3. SEC Commissioner Hester Pierce: NFT can be interpreted as investment contracts. Their sale may violate US laws.
6. The New Zealand Pension Fund invests 5% of its assets in Bitcoin. The company bought its first coins in October for $10,000, since then the cryptocurrency has brought the fund a 6-fold profit in just five months. “If you’re happy to invest in gold, you can’t discount bitcoin,” the fund’s investment director said.
Stay tuned to our wallet, enjoy the usable interface and transaction security, and check back for updates and news on Twitter, Telegram, Facebook, Reddit, TikTok, and LinkedIn. Let’s learn the cryptocurrency market together step by step!