Quote of the week: “As more people pursue and appreciate NFT products, I think it is important we share more in this area, from digital collections and blockchain games to NFT+ to derivatives…There are definitely many opportunities waiting to be discovered in the future.” – Linhan Dong, Researcher, Huobi Research Institute
Elon Musk Buys Twitter for $44 Billion, Crypto Industry Reacts: Following Musk’s bid to buy Twitter, the crypto market reacted. Dogecoin increased more than 17% on Monday, April 25. The Dogecoin community is hoping that Musk will boost its usage after acquiring Twitter. Furthermore, Bitcoin saw a rally after Musk’s bid was released. As news of Twitter’s sale spread, Bitcoin rallied almost 5.72%. Sources: https://www.
Central African Republic Names Bitcoin a Legal Tender: This week, the Central African Republic became the second country in the world to adopt Bitcoin as a legal tender. The president of the country officially announced the news on April 27 and believes that this strategic move will open new opportunities for the country and its people. Source: https://www.fxempire.
Fidelity to Offer Bitcoin in Its 401(k) Plans: Fidelity Investments announced this week that it will allow individuals to allocate a portion of their retirement savings in Bitcoin through their 401(k) investment plans. 401(k) retirement savers will be allowed to allocate up to 20% of their portfolios to Bitcoin, subject to employer approval. Fidelity is the first major retirement plan provider to offer this type of investment. Source: https://www.coindesk.
World’s First ETP Betting on Gold and Bitcoin Has Arrived: The world’s first-ever exchange-traded product that combines gold and Bitcoin has launched in Europe this week. The ETP is set up to rebalance both exposures monthly in inverse, proportional to their risk to manage volatility and increase returns as a result. Source: https://finance.yahoo.
Fort Worth Becomes First in Country to Mine Bitcoin in Pilot Program: Fort Worth, one of the largest cities in Texas, just approved a project, as part of a larger docket of crypto-friendly initiatives, to start mining Bitcoin via a new pilot program. The city has partnered with the Texas Blockchain council for the program. Source:
And, that’s a wrap!