Quote of the week:
“Well, I’ve started to question now whether or not cryptocurrency could actually become the reserve currency of the world as more and more people lose confidence in government.” – Senator Rand Paul
Crypto Mass Adoption: Featuring Walmart: Walmart has partnered with coin-cashing machine company Coinstar and crypto-cash exchange Coinme to install Bitcoin ATMs in its stores. Walmart has already installed Bitcoin ATMs in 200 of its stores across the country, with the intention of installing at least 7,800 more. Source: https://cointelegraph.com/news/200-bitcoin-atms-installed-at-walmart-with-plans-for-8000-in-total
Altcoin Update: Shiba Inu and Dogecoin: Dogecoin gained momentum, trying to settle above $0.32 and Shiba Inu has hit all-time highs this week. On Wednesday, October 27, SHIB hit a new record high at $0.0000699.
NFTs on the Rise: Featuring Fast Food: Many fast-food giants, including McDonald’s, Burger King, Pizza Hut, and Taco Bell are entering the NFT space for the opportunities it offers. Some of these opportunities include enabled gamified promotions and further distribution of its products and services. For instance, McDonald’s China is planning on releasing and distributing a set of 188 NFTs to its employees and customers as a giveaway to honor its 31st anniversary. Source:
Regulation: Featuring India: India has been unsure as to how to deal with cryptocurrency; but, recently, India has been taking steps to regulate cryptocurrencies rather than ban it. Over the past year, India’s mass adoption of cryptocurrency has exploded; it is now the largest cryptocurrency market in Central and Southern Asia and Oceania. It does not seem as though India is on the route to ban cryptocurrency as China has done. Source: https://finance.yahoo.com/news/india-ironing-crypto-regulatory-framework-083808117.html
Bitcoin Update: On Thursday, October 28, Bitcoin gained momentum and returned back over $60,000. This increase in value comes after El Salvador President Nayib Bukele tweeted that his government had “bought the dip.” The El Salvador government bought 420 BTC, equivalent to $25 million. Source: https://www.coindesk.com/markets/2021/10/28/bitcoin-back-over-60k-as-el-salvador-buys-420-btc/
And, that’s a wrap!