Issue 44.0 / March 30, 2021
I've been on hiatus for several weeks. But The Weekly Summary is back with me guest posting on CoinJoy, a cryptocurrency media platform. CoinJoy is a magazine where you can get daily crypto news and track your portfolio.
Fellow Publish0x blogger @PVMMihalache recommended me recently to CoinJoy to do one of their weekly crypto digests. So I would like to thank Paul for dropping my name to them. The folks at CoinJoy were professional and a pleasure to work with. It was a great experience to share some of my thoughts on cryptocurrency and NFTs!
Here are the CoinJoy stories that I summarized last week:
OKEx Adds Advanced Trading Experience
Unified account management is being offered to traders on OKEx, one of the biggest cryptocurrency exchanges. What was once only available to accredited investors with a net worth north of seven figures, OKEx now enables its customers the leverage to perform advanced portfolio management.
NFTs on Tezos
The NFT universe just got better thanks to Tezos. Digital artists and pixel painters can now create, sell, and collect non-fungible tokens on Tezos with Kalamint. Quality content and plagiarism will be top priorities for this NFT platform. Governance from the community will determine if an artist can post their nifties. And because of the Tezos blockchain’s Proof of Stake (PoS), less electricity will be used to mint NFTs.
NFTs on Cardano? Maybe
Not to be outdone, Charles Hoskinson is in talks with various NFT platforms to transition them to Cardano’s blockchain. Hoskinson wants a piece of the exploding popularity of NFTs. What’s also helping these negotiations is Cardano’s Project Catalyst, currently the “world’s largest decentralized autonomous organization (DAO)”. Six NFT marketplaces are requesting funds on Catalyst, Cardano’s business experiment promoting innovation and collaboration.
Indian Companies to Report Crypto
Similar to Tesla’s recent disclosure to the United States Securities and Exchange Commission of their Bitcoin investment, public companies in India may have to report crypto holdings to the Ministry of Corporate Affairs. India’s central bank is still debating if they will ban crypto as we all wait for these important decisions from its government.
Buy a Tesla with Bitcoin
We know that Elon Musk regularly Tweets about Bitcoin and dogecoin. Musk put his money (or crypto) where his mouth was last week by accepting Bitcoin as a form of payment to purchase an electric car by Tesla. This option is currently available to Tesla customers in the United States. The memelord also tweeted that, “Tesla is using only internal & open source software & operates Bitcoin nodes directly. Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency.”
First Tweet Fetches Millions as NFT
The first ever tweet was minted as an NFT and sold for almost $3 million! Jack Dorsey happens to be a huge Bitcoin advocate, just check out his current Twitter profile. It has one hashtag… #bitcoin. Dorsey is also the CEO and founder of Square, a financial services and mobile payment company. He converted the prize money into 50.8751669 Bitcoin and then donated all of that BTC to the charity GiveDirectly, Africa Response Fund.
Michael Saylor Speaks Bitcoin
One of the biggest bulls and thought leaders on Bitcoin is millionaire Michael Saylor, the CEO of MicroStrategy. There are countless interviews Saylor has given about Bitcoin on YouTube in the past year. His points on BTC’s technology, economics, security, and as a store of value are impressive. So when he says that, “Bitcoin is an idea whose time has come,” everyone needs to listen. MicroStrategy has recently reported owning 90,531 Bitcoins in company reserves.
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Ideas and information presented in my articles are for educational purposes only and not intended to be investment advice. Investments in the stock market and cryptocurrency could be speculative and volatile and result in money loss. Always conduct your own research. You may want to obtain independent legal, financial, taxation, and/or other professional advice with respect to any information from this content. I may mention products or services and some of those products are affiliate links that reward me.