Politicians in El Salvador, Paraguay and Panama, are championing for legalization of Bitcoin and cryptocurrencies.
As we are all aware by now, Elon Musk is a man wearing a lot of hats. Aside from being the CEO of multi-billion companies Tesla and SpaceX, he co-founded Paypal, brought Dogecoin to us, and now, unfortunately, he will have no role in the bitcoin mining council; not formally at least.
A month ago, the prices of Bitcoin plunged 30% after renowned Tesla and SpaceX CEO Elon Musk informed his followers that Tesla would stop receiving Bitcoins as payments amidst the growing environmental concerns over Bitcoin mining.
Latin America is actively opening up to cryptocurrency according to the activities of politicians in Paraguay, El Salvador and most recently Panama.
During a planned press conference, Gerry Rice, an IMF spokesperson, said that the use of bitcoin as legal cash creates various financial, macroeconomic, and legal challenges that demand extremely careful examination.
Wang Yongli, a former Deputy Governor of the Bank of China, has opposed El Salvador’s recent decision to award Bitcoin legal currency status.
El Salvador’s President, Nayib Bukele, took to Twitter to announce that LaGeo, a state-owned geothermal power firm, has been tasked with devising a strategy to mine Bitcoin using volcanic energy.
Giant Payment company, Square, announced yesterday its plans to grant $5million to the Black Bitcoin Billionaire group to promote more crypto inclusion and education amongst our society.
All Chinese search engines have apparently stopped providing search results for Huobi, OKEx, and Binance only days after China restricted crypto influencers’ social media accounts.
The Chief Security Officer of the reputable crypto exchange, Coinbase, has come off to publicly refute any claims that the exchange was involved in the seizure of crypto assets relating to the recent Colonial Pipeline ransomware attack.
Tesla’s CEO Elon Musk is nowhere near done with shifting the cryptocurrency market with his tweets, even after wide outrage after Tesla’s unanticipated dumping of Bitcoin.
Data released by the analysts show that in the market currently,32 companies hold about 325,013 bitcoin, which is equivalent to roughly $11.7 billion.
