Quote of the week:
“I wouldn’t convince him [Warren Buffett] to invest in crypto. I think it’s not necessary that everybody has to invest in crypto… My mom doesn’t use the internet that much and that’s fine. The internet is fine. My mom is fine. So I basically think it’s a free world. We don’t have to convince everybody to use crypto, it’s only for the people that want to use crypto.” – Binance CEO & founder Changpeng Zhao
Alpha Sigma Capital Update: In case you missed Enzo Villani, Founder CEO, Alpha Sigma Capital on DiffuseTap discussing Creative Crypto Investments via Multi-Strategy, listen to audio or access transcript here.
International Regulation: featuring India: The India government has proposed a new bill that plans to ban all private cryptocurrencies, with exceptions. As a result of this news, many panicked; on Indian exchanges, Bitcoin dropped by 17% and Ethereum fell by 15%. Sources: https://finance.yahoo.com/
The DAO fails to put a 1st edition print copy of the U.S. Constitution “in the hands of The People”: The online group, ConstitutionDAO failed in its bid to buy the last privately-owned, 1st edition copy of the United States Constitution at Sotheby’s public auction. Instead, the bid was won by an unknown participant for $43.2 million, after auction fees. Source: https://cointelegraph.com/
Mass Adoption of the Metaverse Featuring Nike: Nike has been filing patents to do business in the Metaverse since 2018, which was considered pre-Metaverse time. Nike intends to sell its digital products in the Metaverse and perform digital branding within the Metaverse as well. Nike is very serious about the opportunities the Metaverse offers. Source: https://cointelegraph.
El Salvador Update: El Salvador is in negotiations with the IMF for one of its loans worth $1.3 billion. This week, El Salvador introduced a $1billion “Bitcoin Bond” that could present a partial end-run around the IMF. The “Bitcoin Bond,” in partnership with Blockstream, which is a digital assets infrastructure company, will help to fund a “Bitcoin City” near a volcano that will be funded by the cryptocurrency. Half of the funds from the “Bitcoin Bond” will be used to buy Bitcoin, while the other $500 million will go toward energy and Bitcoin mining infrastructure. Source:
Biden’s Pick as Fed Chair, Jerome Powell: This week, United States president, Joe Biden, selected Jerome Powell to serve another four years as the U.S. Federal Reserve Chair. Although there is overall uncertainty about how the cryptocurrency market will fare, many cryptocurrency investors remain bullish. If Powell is slow to raise interest rates, investors will likely remain enthusiastic. Source: