WageCan Weekly Headlines 2021 W5–1

Date: 02/06/2021

Weekly Headline News

1. Grayscale Reopens Its Ethereum Trust to Investors
Coindesk

2. These Billion Dollar Companies Are Leading In Blockchain And Cryptocurrency In 2021 | Forbes
Forbes

3. Ruffer Turns Bitcoin Investment Into $750M Profit in Under 2 Months
Coindesk

4. Bitcoin an ‘Emerging Competitor’ to Gold, Says CME’s Chief Economist
Coindesk

5. Rare Hashmasks Digital Artwork Sells for $650K in Ether
Coindesk

6. Saylor, MicroStrategy Offer Playbook for Corporate Bitcoin Adoption at Annual Summit
Coindesk

7. Miami Mayor Previews ‘Favorable’ Crypto Policy
Coindesk

8. What Exactly is Elon Musk’s ‘Favorite’ Dogecoin?
Independent

Summary

Grayscale Reopens Its Ethereum Trust to Investors

● Digital asset manager Grayscale Investments said Monday its Ethereum Trust (OTCQX: ETHE) is again open to accredited investors. The company said the private placement of its shares in the trust is periodically offered throughout the year. The Ethereum Trust last closed its doors in late December, along with five other trusts. As of Jan. 29, the Grayscale Ethereum Trust had more than $4 billion in assets under management, the firm said Monday.

These Billion Dollar Companies Are Leading In Blockchain And Cryptocurrency In 2021 | Forbes

● No longer dismissed as a haven for criminals and drug dealers, Bitcoin and blockchain have gone mainstream. Bitcoin’s 2020 surge grabbed the attention of C-suite executives worldwide; not only are companies employing the technology underlying Bitcoin to perform tasks such as reconciling invoices and verifying product provenance, but dozens are now holding Bitcoin as a treasury asset.

● Our third annual Blockchain 50 features companies that lead in employing distributed ledger technology and have revenue or a valuation of at least $1 billion. They take the spots of such U.S. companies as Facebook, Google, Amazon and Ripple, all of whom are still active in blockchain but kept lower profiles in the space over the past 12 months.

Ruffer Turns Bitcoin Investment Into $750M Profit in Under 2 Months

● U.K.-based Ruffer Investment Management has managed to quickly turn its recent bitcoin investment into a $750 million profit. Having bought in November, Ruffer’s investment managers took profits in December and January as the cryptocurrency more than doubled to around $40,000. “We’ve been surprised by how well it has done and how quickly. We did not expect immediate fireworks,” Duncan MacInnes, co-manager of Ruffer Investment told the newspaper.

Bitcoin an ‘Emerging Competitor’ to Gold, Says CME’s Chief Economist

● Bluford Putnam, chief economist and managing director of CME Group, said gold’s ongoing production, likely to increase this year, contrasts with bitcoin’s fixed supply. He believes bitcoin is an “emerging competitor” to gold.

● “In the 2017–2020 period, the mostly ups and occasional downs of the gold price appeared to be directly tied to [U.S. Federal Reserve] policy shifts more than anything else,” the chief economist said. Since equities respond to the same driving force in markets around the world, the gold-equity relationship tends to become tighter, thus weakening gold’s safe-haven appeal.

Rare Hashmasks Digital Artwork Sells for $650K in Ether

● A demonic digital artwork on the Ethereum blockchain has been sold for a small fortune via peer-to-peer marketplace OpenSea. Selling for 420 ETH (roughly $650,000 at the time of purchase on Wednesday), the collectible non-fungible token (NFT)-based artwork is known as a Hashmask. The artwork’s buyer, Danny, said “The piece itself is chaotic, yet ordered. It invokes a concept of biblical dualism with the demon and halo.”

Saylor, MicroStrategy Offer Playbook for Corporate Bitcoin Adoption at Annual Summit

● Michael Saylor, the MicroStrategy CEO-turned-king of bitcoin treasuries, and his MicroStrategists front-ran corporate bitcoin what-abouters at the firm’s detail-heavy annual conference. He called upon fellow business executives Wednesday to avoid the path of financial “serfdom” at his virtual WORLD.NOW bitcoin-themed conference.

● In his solo address, Saylor detailed the cryptocurrency playbook that propelled his three-decade-old data firm to newfound relevance in less than a year. “Every company has to make one of two choices” when faced with a world of belligerent money printing, Saylor said. “You either have to decapitalize, which is kind of like self destruct … or you have to recapitalize with an asset which is going to appreciate faster than the rate of monetary supply expansion. This is where bitcoin comes in.”

Miami Mayor Previews ‘Favorable’ Crypto Policy

● Miami Mayor Francis X. Suarez wants his south Florida city to be a hub for crypto. Following in the footprints of crypto-forward pols in the U.S. states of Wyoming and New York, the Republican mayor is working on an ambitious set of rules and regulations to turn his beachside city into a teeming sandbox. A draft of these new rules could be revealed as early as next week.

● At the city level, Suarez’s ambitions are equally ambitious. He’s “looking at” ways to pay municipal employees a percentage of their salary in bitcoin and allow residents to use bitcoin and other cryptocurrencies for “payments and fees,” including taxes. The city joined dozens of crypto companies and governments in hosting a copy of the Bitcoin white paper.

What Exactly is Elon Musk’s ‘Favorite’ Dogecoin?

● Elon Musk has broken his self-imposed Twitter silence with a host of tweets about the cryptocurrency Dogecoin. While he used his first tweet back to post about the launch of new Starlink satellites, he quickly moved on to endorse Dogecoin, which is both something of a joke and a real and functioning cryptocurrency.

● ”No highs, no lows, only Doge.” He then posted a picture of himself that included the Shiba Inu dog at the center of the doge meme, which is also the logo for the cryptocurrency itself. Dogecoin has had a volatile few days, following the GameStop affair and earlier interest from Mr. Musk. The price surged as much as 800 percent last week.

All you need to know about Blockchain, and occasionally some announcements for WageCan’s services.