2010 - No one uses it.
2012 - Only computer fans use it.
2013 - Only drug dealers use it.
2014 - Only money launderers use it.
2017 - Only gamblers use it.
2019 - Only a small part of the population uses it.
2020 - Only small companies use it.
2021 - Only small countries use it.
Weekly News Report:
1. Tesla will resume accepting BTC as payment once the cryptocurrency’s power-hungry miners go halfway green, CEO Elon Musk tweeted Sunday. The news appears to have driven up the price of bitcoin and other cryptocurrencies.
2. Bitcoin tests $40K following positive comments from Tesla’s CEO Elon Musk and hedge fund manager Paul Tudor Jones. BTC by market capitalization is up about 20% over the past seven days and is testing the $40,000 price level for the first time in two weeks.
3. The Purpose Bitcoin exchange-traded fund has been reaccumulating BTC since mid-May, a sign that investors are keen to buy the dip. Demand for BTC among Canadian investors has not wavered amid the latest price correction, offering further evidence that market participants are capitalizing on heavily discounted prices.
4. China debuts blockchain-based digital yuan salary payments in Xiong’an. The People’s Bank of China (PBoC) has successfully completed the nation’s first on-chain wage payouts in the digital yuan.
5. Central American Development Bank will form a technical advisory group to help El Salvador as it implements a law recognizing bitcoin as legal tender.
6. Following the footsteps of the Salvadoran President, Iran is all prepared to legalize cryptocurrency in the country. The President of Iran, Hassan Rouhani announced his wish to legalize cryptocurrency in Iran very soon.
7. After El Salvador’s adoption of bitcoin as legal tender, Tanzania’s president has urged the country’s central bank to prepare for wider adoption of cryptocurrency around the world.
8. The first bitcoin upgrade in four years has just been approved by miners around the world. It’s called Taproot, and it’s due to take effect in November. The upgrade will mean greater transaction privacy and efficiency — and crucially, it will unlock the potential for smart contracts, a key feature of its blockchain technology.
9. As central banks around the world consider digitizing their fiat currencies, the trend could actually push more investors into crypto, the managers from Grayscale and Osprey Funds told CNBC this week.
10. Goldman Sachs plans to offer investors options and futures trading in ETH. In March, the investment bank relaunched its cryptocurrency trading desk after a three-year hiatus.
11. MicroStrategy announced it would use $488 million from the proceeds of a private offering sale to buy Bitcoin, the company said it may also sell up to $1 billion of its stock for the same reason.
12. With the Euro 2020 championship in progress, blockchain-based fantasy soccer game Sorare has announced the licensing agreement for a national sports association to issue nonfungible tokens of its players.
13. Billionaire investor Mark Cuban says “banks should be scared” of cryptocurrency-based DeFi. Despite the risks, DeFi has been particularly buzzy lately. More than $60 billion is currently locked in DeFi protocols.