Quote of the week: “There are more than 50 million millionaires in the world. Imagine when each one of them decides they should own at least ONE Bitcoin. But there will ever be only 21 million Bitcoin. Not enough for even half of them. A gigantic price increase is just a matter of time” – Nayib Bukele, president of El Salvador. Source: https://cointelegraph.com/news/el-salvador-president-predicts-gigantic-price-increase-for-bitcoin
Alpha Sigma Capital in the News: AirWire and Clarity Games
AirWire is the innovative force behind a patent-pending, free minting, NFT Camera App, and multi-chain NFT Marketplace. Rising visionary, entrepreneur, and music artist Tobe Nwigwe, in partnership with Airwire, minted the 1987 Mercedes Benz 420 SEL V8 and Iconic Clothing Garments as NFTs. Click here here for the press release.
Clarity Games is a blockchain game studio seeking to deliver a new era of blockchain gaming through fresh and innovative mechanics, world-class storytelling, and AAA talent. Clarity recently announced that its first project will be an adaptation of Dante Alighieri’s Divine Comedy, with the working title Inferno. Click here for the press release.
Buying the Dip: During the Bitcoin dip, from December 30, 2021, to January 31, 2022, Microstrategy purchased an additional 660 Bitcoins, worth $25 million. MicroStrategy (MSTR) is a business-intelligence software company that has begun accumulating Bitcoin.
International Regulation Featuring India: On February 1, 2022, India fully acknowledged the country’s cryptocurrency industry when it decided to bring it under the tax net. Finance minister Nirmala Sitharaman declared a 30% tax on any income produced from the transfer of digital assets. Additionally, Sitharaman announced a 1% tax deduction at source (TDS) on payments made for the transfer of digital assets; any loss made on a digital asset transaction will not be able to be set off against a gain. Additionally, it was announced that The Reserve Bank of India plans to introduce and launch its central bank digital currency in the next financial year. Source: https://qz.com/india/2120249/india-budget-2022-whats-in-store-for-indias-crypto-industry/?utm_source=YPL
Metaverse Mass Adoption Featuring Apple: Tim Cook, the CEO of Apple, revealed that the company has been investing in the Metaverse due to its considerable potential. He mentioned that Apple is investing in AR developments on its devices. After Tim Cook mentioned this news, Apple’s stock price increased in the after-hours trading. Source: https://cointelegraph.com/news/apple-stock-jumps-after-ceo-reveals-it-s-investing-in-the-metaverse
Crypto.com Hires LeBron James: Crypto.com has spent more than $1billion on marketing endeavors, including the hiring of Hollywood stars to promote its brand. After partnering with Matt Damon, Crypto.com has decided to partner with LeBron James. Crypto.com announced its multi-year partnership with James’ nonprofit to support education and workforce development opportunities around Web3.0 and blockchain applications. Source: https://finance.yahoo.com/news/crypto-com-hires-lebron-james-201032639.html
Is the FED Creating its Own Digital Coin?: The Federal Reserve recently issued a 35-page paper discussing the creation of its own government-backed digital currency in an effort to secure the U.S. dollar’s dominance. The paper made no conclusions and is going to need support from the White House and Congress before proceeding. The central bank reported many potential benefits that would ensue from a U.S.-backed coin, including an increase in financial inclusion and an improvement in cross-border payments. Source: https://www.bloomberg.com/news/articles/2022-01-20/fed-takes-key-step-forward-in-deciding-on-digital-coin-issuance
And, that’s a wrap!