We close the week in the green zone for cryptocurrencies! It’s not every Friday that you can boast of great news and bullish mood every day. It all started on Monday when bitcoin broke its historical high twice in one day. First, BTC soared to $47,400 and then to $48k. Last week, it became known that the crypto market surpassed Google and Tesla in capitalization. The valuation of the digital money industry has exceeded $1.4 trillion. The rise in the price of the first cryptocurrency pulled Ethereum up to $1800.
Read about this and other news in our summary of the main and current affairs in the cryptocurrency market this week:
1. Tesla bought $1.5 billion worth of Bitcoin (7.7% of the company’s reserves) and said it plans to introduce BTC as a means of payment. Immediately after the news, bitcoin flew to the moon, taking Dogecoin with it. Also, Tesla was added to the first line on CoinMarketCap. Now you can compare the BTC rate and the price of the Model 3.
2. Two more companies are going to join cryptocurrencies: Mastercard and Uber. The philosophy is simple: to enable cryptocurrency holders to use their assets.
More and more companies are noticing the huge potential behind digital assets and publicly recognizing them. In 2021, Mastercard will provide the opportunity to make transactions in Stablecoins and CBDC. Uber has not yet revealed all the goals, but it will accept Bitcoin.
3. On Twitter, there was news about the crypto mayor of Miami. He established the salaries of civil service employees in bitcoins and invested in the bitcoin part of the city treasury. The crypto community is thrilled with the modern mayor. The video of his statement received 1 million views in less than a day.
4. Alice from Lumi spoke about the Dogecoin phenomenon. If you think that Doge is just a meme, then we advise you to read the article. Now, the cryptocurrency is valued no less than Bitcoin, and the huge support among famous people is proof of this.
5. Amazon is preparing to launch its own Digital Currency project. Initially, the project will be developed in Mexico. Amazon has already published a series of vacancies that will ensure the company implements new technologies. The giant in the market plans to start upgrading from emerging economies. So far, the company has not made any explicit comments on the new direction.
6. Rapper Jay-Z and Twitter CEO Jack Dorsey allocated 500 BTC ($23.5 million) to support Bitcoin developers from Africa and India and create a new fund ₿trust. The initiative of the founder of Twitter and Jay-Z caused surprise in the crypto community. Many people wonder why they should allocate investments to regions that are hostile to the cryptocurrency market.
One user under the nickname @DanielRegha noticed: «No disrespect Jack but such 500 BTC new endowment should be set up in places suffering from hyperinflation like Lebanon who need this funds the most cos their banks aren’t favouring them, moreover a lot of African countries are kicking against Bitcoin or anything cryptocurrency.»
In the description of the mission of managing the fund, Jack Dorsey considers bitcoin as the currency of the Internet.
7. Norwegian oil giant Equinor announced that it would be incorporating blockchain technology to drive down costs and promote green practices. The government owns 70 percent of Equinor, so they need to make oil production complement the Scandanavian country’s environmental policy. CEO Anders Opedal aims to make Equinor a carbon-friendly, “net-zero” oil company by 2050.
In 2020, several oil companies already started adopting the technology. The formation of the OOC Oil & Gas Blockchain Consortium is a massive step in this direction. It includes 10 companies, including ConocoPhillips, Equinor, Exxon Mobil Corp, Repsol, and Royal Dutch Shell. The consortium has already tested Data Gumbo’s ability to automate payments for oilfield water-handling.
All information stated above is provided only for general information purposes. We do not promote any cryptocurrency, do not recommend or advise anything. All decisions about investments should be made by yourself. Our team works to satisfy our clients’ needs.
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