Bitcoin Tesla double down

Bitcoin started the week like an average Joe on Mondays. Losing more than 20% of its value to around the US$45k range from the ATH of over US$58k. Healthy correction, healthier time to buy. The drop could be unhealthy to some with Elon Musk losing his title as the world’s richest man, dropping all the way down to… 2nd… The current drop coincides with a rather big pullback on equities as well. Tesla was not spared with a 25% drop from its ATH. Musk getting doubled down.

To capitalize the dip, we need USDT, with Tether finally settling the ongoing legal battle, we can finally transact with confidence. Tether has to pay a fine of US$18.5m and be fully transparent with its reporting. Be unambiguous like blockchain. NFT’s are also making their mark with the ever increasing value of the tokens. An unknown investor has purchased 34 CryptoPunks NFT in a few minutes to the tune of 557.5 eth, or US$1m! Maybe that is why the buyers remain anonymous.

Hodl, yay or nay? Long term is the name, Hodl is the game. Invest wisely, avoid leverage and stay safe.

Elon Musk lost his crown as the world’s richest man after Tesla and Bitcoin slump

Tesla stock began to slide in late January, accelerating after the BTC purchase announcement.

Tesla CEO Elon Musk is no longer the world’s richest man after a sharp correction in Bitcoin (BTC) and a slump in his company’s stock that some analysts believe are correlated. 

Tesla stock (TSLA) has dropped 21% from its high of $890 on January 26, accelerating those losses over the past two days in a fall to $698. Shares of the electric vehicle maker dipped as much as 13% on Tuesday, the stock’s worst day since early September 2020.                

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Tether to report reserves and pay $18.5M penalty after settlement with NYAG

New York City regulatory authorities are requiring Tether to be fully transparent about its books, at the expense of not serving New York City locals.

Bitfinex and also Tether settled with the New York Attorney general of the United States workplace in the landmark case against Tether. New York City authorities affirmed that Tether misstated the level to which Tether (USDT) coins were backed by fiat collateral.

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Single Buyer Splurges $1M in Ether on CryptoPunk Digital Collectibles

The batch of 34 NFTs (known as CryptoPunks) was purchased by a whale who paid 557.5 ETH, or roughly $1 million in just minutes. 

⁩As stated by Larva Labs marketplace, 34 Punks were purchased on Sunday by an unknown investor, who bought the lot for 557.5 Eth – the native cryptocurrency of the ethereum network.          

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Bitcoin drop to $45K in sequel to 20% BTC price crash

A failed rebound above $50,000 looks to flip the level back to resistance as $47,000 becomes a new price focus.

It even spiked below the USD 45,000 support level. The USD 45,000 support holds the key in the short-term

Bitcoin then continued to be in loss on Feb. 23 as selling pressure took markets below $47,000 for the first time in over a week.

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50k shades of bitcoin

New Year, new ATH! Bitcoin reaching higher than US$52k shortly after the Lunar New Year. Reaching ATH 2 days after crossing major psychological barrier of US$50k. The latest bull run perfectly timed to usher in the Year of the Ox! How apt… With all the tools at bitcoin’s disposal, Bosch is partnering with to launch a multi-purpose blockchain network that can advance Web 3.0 capabilities. Warning: AI everywhere.

And speaking of adoption, Akon’s Akoin (AKN) cryptocurrency is set to become the exclusive cryptocurrency of the Mwale Medical and Technology City (MMTC) in Kenya. Over 20k MMTC staff could receive salaries in AKN, smack that! Amen for Akon’s Akoin. Invest wisely, avoid leverage and stay safe.

Bitcoin hit new high at US$52,577

The world’s biggest digital currency, Bitcoin, surged to another new record of US$52,577.50 on Wednesday, two days after virtual currency vaulted to the US$50,000 hurdle, even as analysts warned against the sustainability of such prices amid elevated volatility. The price was last up 6.3 per cent at US$52,233. Despite much acceptance this year, some analysts predicted that bitcoin is still far off from becoming a widely used form of payment.                

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Bosch partner with to launch blockchain to advance Web 3.0 capabilities

Bosch Group, the global technology supplier, is teaming up with to develop practical use cases for blockchain technology to further advance Web 3.0 capabilities - like artificial intelligence and the internet of things. 

The blockchain network, which is in testnet until the end of February, seeks to bring distributed ledger technology to several industries. Specifically, the network is developing machine learning applications for blockchain governance.

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Akoin rolled out in $2B medical metropolis in Kenya

Akon’s Akoin cryptocurrency is set to become the exclusive cryptocurrency of the Mwale Medical and Technology City in Kenya.

Akoin (AKN), the crypto project developed by Senegalese-American singer Akon, has completed the pilot rollout stage of its deployment in the Mwale Medical and Technology City complex in Kenya.                

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The Ox market

Monday blues no more with Tesla revealing that it has US$1.5b worth of bitcoins in its balance sheet. The news instantly pumped up BTC by nearly US$9k, which was the biggest daily gains in its history! My oh my… Twitter is also reportedly thinking likewise in a recent interview with its CFO and going as far paying employees in BTC. Empty leather wallet, full Ledger wallet.

Elon Musk is still not done. Tweeting about his Dogecoin gift for his son recently, giving him an unofficial title of ‘Toddler Hodler’. Starting them young, earning the crypto street cred. He is not alone, Mark Cuban has also bought his son US$5 worth of Dogecoins. A Doge is a man’s best friend.

With Chinese Lunar New Year Coming up, can we have bitcoins in ang paos instead? Hint hint… Happy Lunar New Year to all. Invest wisely, avoid leverage and stay safe.

Bitcoin Market Cap Surpasses Tesla

Bitcoin is unstoppable and over the last year its market cap has doubled and then some. The massive flood of capital has caused the market cap o the scarce cryptocurrency to now surpass many major publicly traded corporations and even fiat currencies.

The most recent wave of buying has been driven by news that Telsa had acquired $1.5 billion worth of BTC, but ironically, the momentum pushed Bitcoin’s market cap beyond that of the Musk-led automaker. Here’s what few companies and assets remain ahead of the first ever cryptocurrency.

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Twitter and GM Are Considering Adding Bitcoin to Their Balance Sheets

Twitter may be pursuing adding Bitcoin to its balance sheet, to follow Square, which is also run by Jack Dorsey. The firm’s chief financial officer Ned Segal indicated in an interview with CNBC that the firm is considering BTC as an asset that it can add to its balance sheet.

This discussion comes after Tesla shocked the world when it was unveiled to have bought a large sum of Bitcoin recently.

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Youngest HODLer ever? Elon Musk buys DOGE for his 9-month-old son

Elon Musk’s child with Canadian musician Claire Elise Boucher, or Grimes, may now be one of the youngest public crypto users on record.

In a tweet today from the Tesla CEO, Musk said his 9-month-old son is now the proud — or maybe just fussy — owner of some Dogecoin (DOGE), referring to him as a "toddler HODLer."

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Mastercard Will Let Merchants Accept Payments in Crypto This Year

Mastercard is planning to give merchants the option to receive payments in cryptocurrency later this year.

According to a source familiar with the matter, the functionality will see Mastercard customers’ digital currency payments settled in crypto at participating merchants, a first for the financial giant. The company has not yet disclosed which digital currencies it intends to support, or where.

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Major milestone for ECXX

The week started on a high for ECXX. We have partnered with a major local broker, UOB Kay Hian, for listings, client onboarding and distribution! The whole nine yards. To compound the good news, BTC began shooting and ETH broke ATH again, gaining over 10% each at time of writing. Oh, what a week…

To keep the high, we need gas with Tifon allowing customers to pay for filling up their tank in crypto. All 46 stations across Croatia will offer this service. Gas fees... PayPal will also be allowing its clients to use crypto as a funding source when spending at any of their 29m merchants. The wave of mass adoption is here.

Last but not least, boomers are having their day with an app specifically dedicated to them. Crypto investment and trading made easy, tapping the richest generation in history. Old is gold, e-gold. Invest wisely, avoid leverage and stay safe.

UOB Kay Hian, ECXX jointly offer Securitised Token Offerings

UOB Kay Hian (UOBKH) investors can look forward to new Securitised Token Offerings (STOs) offered by technology company ECXX Global as part of a collaboration between ECXX and UOBKH, announced on Monday.

Under the new offering, both sides will facilitate tokenisation projects as well as market and distribute tokens to potential investors under UOBKH.

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Electrocoin allows crypto petrol payments in Croatia

One Tifon executive thinks foreign tourists will likely contribute to the development and growth of crypto payments in the country.

As stated by a Croatian news outlet, this partnership allows drivers to pay for a full tank using crypto (BTC, ETH, XLM, XRP, EOS) at any of the 46 Tifon stations in the country. Tifon will integrate PayCek, a crypto payments platform from Electrocoin, into its existing payments system to make this possible.

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PayPal offering crypto payments for merchant and limiting trading on Venmo

Even since their limited crypto trading service exceeded expectations, the company decided to double down on crypto, blockchain and digital currencies this year. 

Paypal CEO (Dan Schulman) said that PayPal is currently working with regulators and central banks to shape the future of a post-physical cash world.

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Baby Boomers Now Have Their Own Crypto App

For years digital currencies have been a game for millennials. But the rules are changing. Older generations show more and more interest in cryptocurrencies and thus form a new niche in the crypto market.

River Financial, a San Francisco-based cryptocurrency trading platform announced the creation of a crypto trading app custom-made especially for the Baby Boomers. The crypto startup focuses exactly on senior digital asset investors.

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In Elon we trust

It has been an uneventful week until Elon Musk changed his Tweeter bio to none other than Bitcoin that we see BTC sky rocket within minutes of his update. BTC has been dragging along lazily moving in a very tight range between US$30k - US$33k, and now shooting through US$36k. All this while Grayscale is buying up more bitcoins than what was mined in 2021! Elon to the rescue. Elon is to crypto what Ronald is to McDonald’s.

Reddit is partnering with Ethereum Foundation to bring Ethereum to "Reddit-scale" production and increase the site’s “commitment to blockchain, accelerating scaling and resources for the Ethereum ecosystem, and bringing the value and independence of blockchain technology to millions of redditors”... TLDR… 1.7b monthly Reddit visits could really set it off. That could be music to Redditors with Monstercat turning to NFT as new revenue streams for artistes. Selling US$180,000 of NFT’s in 2 minutes. Money money money.

It's a market of cryptos, not a crypto market. Invest wisely, avoid leverage and stay safe.

Elon Musk changes his Twitter bio to Bitcoin

Tesla and SpaceX CEO Elon Musk has changed his Twitter bio to mention only Bitcoin.

The move is similar to Twitter CEO Jack Dorsey, who has since long been a bitcoin supporter. The bitcoin mention by Musk means his more than 43 million followers could be keen to learn more about the world's largest cryptocurrency.

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Reddit partners with Eth foundation to increase scaling and resources

The purpose of this partnership is to bring Ethereum to "Reddit-scale" production by increasing the site’s “commitment to blockchain, accelerating scaling and resources for the Eth ecosystem, and bringing the value and independence of blockchain technology to millions of reddit users.” 

Reddit had already started 2 large Eth-Focused projects in 2020. The first is an application called community points, a rewards system that awards redditors with ERC-20 tokens for contributing engaging content to the platform. Reddit then has a competition ‘The Great Reddit Scaling Bake Off’, seeking submission of Eth scaling technology methods that could help applications such as the Community Points progress to mainnet and ultimately scale to all of the network’s 400+ million monthly users. 

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Monstercat dance label sells $180K of musical NFTs in two minutes

Major EDM record label Monstercat sees NFTs as a new way to provide alternative revenue streams.

Major EDM record label Monstercat has highlighted how non-fungible tokens, or NFTs, can be a successful new revenue stream for artists and the music industry, generating $180,000 in the first two minutes of an NFT collection release.

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Grayscale is buying BTC 54% faster than it is mined so far in 2021

Grayscale is continuing its BTC accumulation spree, snapping up more than 40,000 BTC in just 16 days.

Digital asset manager Grayscale is showing little signs of slowing down its Bitcoin accumulation, adding around 40,000 BTC to its stash since January 13. That's around $1.36 billion worth of Bitcoin in just 16 days.

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