Crypto News RoundUp: Credit Cards Catching onto Crypto While Banks Are Losing Ground, The NBA Becomes a Leader in Adoption
Welcome to your weekly news roundup. As is the case every week, there’s a lot of exciting news going on in crypto. Yes, we could be talking about the small dump happening to altcoins this week, but the fundamental shift happening in the financial space related to cryptocurrency is much more exciting. Banks and ballers are leading the way. Here’s everything you need to know!
Federal Reserve Chairman, Jerome Powell, is officially on the record in saying that Bitcoin is a substitute for gold rather than paper money. That’s not necessarily a total newsflash to you if you hold the same conviction. But the fact that Powell holds a prominent role within the American financial system means his views carry some weight.
There’s been a lot of hype around Non-Fungible Tokens (NFTs) lately. But what is an NFT? Is it a platform? Is it art? Is it money? A technology? In this post, we give you a quick run-down on NFTs – what they are, how they are valued, how they relate to cryptocurrencies and where to buy them.
This week has been huge for the continued blurring of the lines between traditional finance, payment gateways, and cryptocurrencies. Visa and PayPal are revealing bigger plans to get directly involved in cryptocurrency. More billionaires are investing too, and the immediate short-term future looks bullish for the industry as a whole.
This week’s round up features tremendous news for Bitcoin as Turkey and Tesla make it obvious. They plan to capitalize on the future potential of cryptocurrencies in a big way. They are also showing that their faith in stimulus packages and governments is dwindling. Miami is also getting in on the fun as businesses flock to the Sunshine State. It’s time to get you up-to-date!
The new supply of bitcoin entering the market gets cut in half every four years and solving the cryptographic puzzles associated with the halving event becomes increasingly more challenging. More and more energy is required to mine bitcoin, leaving people to ask themselves an important question. Is Bitcoin mining bad for the environment?