Date: 05/10/2021
“Bitcoin will be as transformative for money as the Internet was for information. By mid-2028, bitcoin’s market cap will overtake gold’s market cap, demonstrating that it is the best store-of-value asset for a digital-first world.” — Jason Yanowitz
Weekly News Report:
1. Bitcoin could hit $250,000 within the next five years as it approaches the equivalent of gold’s market capitalization, according to Morgan Creek Capital Management’s Mark Yusko. This is a network and networks grow in an exponential way. This is the fastest network in history to a trillion dollars of value.
2. Cryptocurrencies hit a valuation of $2 trillion on April 29, according to The Wall Street Journal. That’s about the same valuation as all US dollars in circulation. However, it has since hit as high as $2.25 trillion — and in the process actually exceeding dollars in circulation.
3. Crypto is booming in Brazil. Its largest crypto exchange, Mercado Bitcoin, has already traded $5 billion in the first quarter of 2021 alone compared to $1.2 billion in all of 2020.
4. SpaceX will launch the “DOGE-1 Mission to the Moon” in the first quarter of next year, with Elon Musk’s commercial rocket company accepting the meme-inspired cryptocurrency dogecoin as payment.
5. Dogecoin has risen 130-fold this year, for a market capitalization of about $80 billion, on par with France’s largest bank. “Call Me the Dogefather,” Elon Musk explains Crypto to SNL’s audience.
6. The number of unique active ether addresses, either as sender or receiver, rose to a record high of 7.94 million on Sunday, topping the previous peak of 7.14 million reached on Jan. 16, 2018, according to data provider Glassnode. The tally has increased by more than 100,000 in the past three days alone, taking the year-to-date growth to 86%.
7. Nobody in the NBA knows crypto better than the Brooklyn Nets’ point guard: Spencer Dinwiddie. Crypto junkies know him as something else entirely: a longtime blockchain innovator who, back in 2019, suggested tokenizing his National Basketball Association contract. “It was to future-proof,” he said. “It was about what was coming.”
8. Tampa Bay Buccaneers quarterback Tom Brady, arguably one of the most talented American football players of all time, has hinted that he’s a Bitcoiner.
9. Ether’s price, already up a dizzying five-fold this year, pushes past $4K for the first time and approaches JPMorgan’s market value.
10. The cryptocurrency community is flexing its generosity amid the latest bull market, as charitable donations continue to grow. Elongate and Munch raise millions for various causes, underscoring the potential of digital assets in aiding mission-based non-profits around the world.
11. Record fundamentals meet $4K Ethereum: 5 things to watch in Bitcoin this week…
‧Dollar down on oil pipeline attack
‧Record hash rate precedes major difficulty boost
‧BTC price on the verge of $60,000 takedown
‧Ether blasts through $4,000
‧Strong hands increase their positions
12. Crypto has made for a genre-defying trove of lyrical content over the years. Here are some key examples of the industry’s musical creativity.
‧Bitcoin pls go to moon
‧Banksters Paradise
‧BLOCKCHAINIAN RHAPSODY
‧Old Town Road (Bitcoin Version)
‧HODL GANG
‧BITCONNECT EDM REMIX
