Quote of the week: “I think when all’s said and done, investors will be given a choice: they have to invest in something, and if rates are rising, blockchain is going to be the most relatively attractive.” – Dan Morehead, CEO of Pantera Capital. Source: https://cointelegraph.com/news/crypto-best-place-to-store-wealth-during-fed-rate-hike-pantera-ceo
Bitcoin Update: Bitcoin’s price has plunged to levels as low as $34,338, which are the lowest levels observed since late January. Bitcoin’s price decrease has come after news that Russia has launched an invasion of Ukraine.
The United States Inflation Update: Could Cryptocurrencies Become a Hedge? Inflation has become a major political problem in the United States and United States citizens are looking for a safe haven for their funds. United States inflation has broken a 40-year record; the United States Bureau of Labor Statistics stated that the Consumer Price Index has increased by 7.5% compared to the same time last year. This percentage increase is the greatest year-on-year increase since 1982. Many wonder now if Bitcoin and other cryptocurrencies can be that safe haven citizens are looking for. Source: https://cointelegraph.com/news/u-s-inflation-breaks-40-year-record-can-bitcoin-serve-as-a-hedge-asset
Metaverse Mass Adoption Continues: Manchester City, Englands’ top soccer team, and its new partner Sony have begun to build a replica of Etihad Stadium in the Metaverse. The team hopes that the stadium in the Metaverse will allow fans to watch games in an immersive setting, during the ongoing pandemic. Source:
Bitcoin Coming Soon to Mexico? Mexican Senator Indira Kempis stated that she would soon be proposing a cryptocurrency law and expressed her plans and opinions about Bitcoin, among other cryptocurrencies. She has plans to make Bitcoin a legal tender, after being impressed by the impact of Bitcoin in El Salvador. Source: https://finance.yahoo.com/news/mexican-senator-proposes-bitcoin-legal-144704146.html
Warner Music Group New Partnership: On February 23, Warner Music Group announced that it had partnered with collectible play-to-earn card game Splinterlands. Last month, Warner Music Group partnered with Metaverse company The Sandbox to offer fans an engagement platform and outlet. Now, with its new partnership with Splinterlands, Warner Music Group hopes to unlock new revenue streams for their artists, while “elevating the role of fandom and community.” Source: https://cointelegraph.com/news/warner-music-group-announces-partnership-with-blockchain-gaming-developer-splinterlands
And, that’s a wrap!