This week, the capitalization of the crypto market reached $2 trillion for the first time. It is more than the capitalization of Google, Amazon, and Microsoft. The crypto market is growing every day. After 2017, crypto users expected growth, but no one expected such changes. Every week we see in the news that more and more banks are approving cryptocurrency assets, and celebrities are betting on bitcoin as one a leading investment option. For example, well-known hip-hop star Snoop Dogg says Bitcoin is “here to stay.” Elon Musk and even the group Kiss have publicly announced their investment in bitcoin.
We are currently waiting for a new ATH from bitcoin, but so far, we’re keeping the bar around $58k. There was no correction of Ethereum this week, the feeling that it entered a new height without much enthusiasm. The entire crypto community already expected this.
And now let’s go on to the main news of the outgoing week:
1. Microsoft has patented mining technology using the human body. The article says that the energy generated by our body “can serve as proof of work.”
2. Analysts from the ARK Invest investment fund, which Wall Street veteran Cathie Wood heads, believe that Bitcoin will surpass the capitalization of gold at $10 trillion. In the next few years, it will turn from a minor asset into a major financial instrument.
“The capitalization of Bitcoin is only ten times less than gold, but Bitcoin is a 100 times improved version of the precious metal. That is why there is a high probability that the first cryptocurrency will soon outshine gold, ” the company’s representatives say.
3. Well-known politician and television personality Kevin O’Leary, who in 2019 called Bitcoin a useless currency and “garbage”, said last month that he would allocate 3% of his funds to buy the first cryptocurrency.
But now he added that he would only invest in Bitcoins mined using ” clean energy.” “Bitcoin mined in China is a blood coin,” O’Leary said.
4. In the first quarter of 2021, crypto startups received more funding than in the whole of 2020 ($2.6 billion versus $2.3 billion). In the first quarter, 129 startups focusing on the digital technology known as blockchain raised about $2.6 billion, according to CB Insights.
5. The Sacramento Kings will be the first professional sports club to offer a salary in Bitcoin to all its players and employees. “Any player can convert their income to any crypto they choose,” Cuban told CoinDesk. “Paying in BTC or any crypto doesn’t really do anything. I would rather keep my BTC.”
6. News from the art world. Playboy is creating its online gallery of photos and works of art, where the works will be presented as NFT. Digital art will be available on Nifty Gateway. The first artists are Balake and Slimesunday.
Slimesunday has specifically prepared a truly original work for this event, combining the playboy logo and the stamp on which is the probable founder of BTC, Satoshi Nakamoto.
And Forbes magazine has auctioned a converted NFT cover featuring Cameron and Tyler Winklevoss for $333,333. Photographer Michael Prince created the original cover of the issue, and artist Yoshi Sodeoka turned it into a 15-second piece of digital art for NFT called “Merchants of the Metaverse.” The auction was held on the Nifty Gateway platform. A participant made the maximum bid under the pseudonym mondoir.
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