|Quote of the week: “Bitcoin is at its highest level since May, a notable recovery but the crypto asset has yet to convincingly break through – and most importantly, close above – the $41,000 mark.” – Simon Peters, analyst at eToro|
Crypto & Social Impact New York-based non-profit, Charity: water, has received a total of 32.5949 BTC, which equates to more than $1.3 million in donations to its Bitcoin Water Trust within three weeks of the trust’s launch. The charity provides clean water and sanitation to developing nations. The Bitcoin Water Trust was announced during the Bitcoin 2021 Conference in Miami and is attractive for its “HODL MODL” strategy. The charity states it will not touch the donation until 2025.
South Africa’s policy towards cryptocurrency has been one of wariness and noninterference until now. A strong and growing retail interest in cryptocurrency has led South Africa to rethink its classification and stance on the asset class. South Africa’s financial regulators are now planning for the “phased and structured” regulation of cryptocurrencies.
After Nayib Bukele, president of El Salvador, announced his bill to make Bitcoin a legal tender, the Panamanian congressman Gabriel Silva tweeted that if Panama wanted to become a technology hub it should back cryptocurrencies. Next month, Silva plans to present a bill that could prompt the adoption crypto as a legal tender and establish tax incentives for crypto-involved businesses.
As of Wednesday June 17, Bitcoin was up a total of 20% and had hit the $40,000 price mark. Although Bitcoin has dipped slightly since Wednesday, many are bullish on its momentum upward.
|ETH trends |
Despite the price corrections of Ethereum, interest in the coin has remained high and is growing with the ETH 2.0 development. There have been ample indications that investors are staking tokens in anticipation of ETH 2.0.