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Wesley Messamore



Articles by Wesley Messamore

How Will the Ethereum-Google Blockchain Node Engine Impact Crypto

November 2, 2022

Ethereum (ETH) was on an absolute rampage to finish October with 20% 7D gains and record ETH short liquidations. Adding to the Web3 blockchain’s tailwinds, Alphabet Inc.’s Google just unveiled Blockchain Node Engine with support for Ethereum.
In Blockchain Node Engine, Google boasts a fully managed node-hosting service for Web3 developers. Google Cloud touts Cloud for Web3 as a way for blockchain devs to:
“Build and scale faster with simple, secure tools and infrastructure for Web3. Get co-sell and growth opportunities, like promotion on Marketplace, and support for on- and off-chain governance.”
The power, resources, and reliability of Google Cloud, together with a blockchain dev environment and the host, could prove a potent mix for new Web3 projects.
How Google Cloud

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Bitcoin Links With Gold as Inflation Hedge at 30-Day View

October 17, 2022

The correlation between Bitcoin and stocks may be decoupling. And the original cryptocurrency might be working as advertised as an inflation hedge. With inflation soaring, BTC is tracking more like spot gold than US stocks.
At the 30-day view Sunday, the bitcoin price was down 3.11% for the period at UTC 17:30. Stocks, on the other hand, were facing much steeper losses for the month. The S&P 500 Index was down 6.7% for the 30-day period. High-tech sector losses for the past month were deeper. The NASDAQ 100 was down 8.77%.
BTC-Stock Correlation Drops, Gold Rises
Instead of equities, Bitcoin has been acting more like gold over the 30-day view. With the world economy wobbling, gold is holding up best over this timeframe. Spot gold was only down 1.27% over the same period, to

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Social Security Gets 8% Boost: Why Millennials are Turning to Crypto (Opinion)

October 13, 2022

Consumer price inflation has clocked in above 8% in the latest CPI print. Consumer inflation in the US has remained near or above 8% for the entire year of 2022 so far. It reached its highest point in June, with a 12-month percentage increase above 9%.
The US government sprang into action over the persistence of rising consumer prices, increasing Social Security benefits to keep pace.
Social Security Gets +8% Cost of Living Adjustment
Inflation is a phenomenon with generational, demographic, and cultural effects. It is now leading to an unprecedented COLA (cost of living adjustment) to Social Security, the US pension fund program, and the largest public pension program in the world.
The soaring inflation rate has been rough on the US dollar economy. Higher prices squeeze

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Crypto Stocks Take Steep Hit Compared to Wall Street in End of Week Drawdown

October 8, 2022

Stocks started off the week in a rally, with wide benchmarks like the S&P 500, NASDAQ Composite, and Dow Jones posting gains.
But the rally fell off with a sharp pullback Friday on new worries of increasing Fed rate hikes. The retracement was nearly enough to wipe out the gains from earlier in the week, but not quite.
Stocks Yikes: Strong Jobs Data Could Mean More Fed Rate Hikes
As Joe Rennison and Isabella Simonetti at the New York Times explain, new hires slowed some in September, but not as much as expected.
The strength of the labor markets to add new hires is good economic news, but it could also indicate inflationary Fed lending over the dovish regime is still coursing through the economy. As a result, the Fed is expected, based on the new labor numbers, to continue

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A 10-Year Macro Tailwind: The Long-Term Bull Case for Bitcoin (Opinion)

October 5, 2022

The Bitcoin closed a daily candle above $20,000 on Tuesday, marking the highest daily close in about 24 days. That’s after trading range-bound from the $19K to $20K level for the latter half of September.
Foreign pressure on the Fed to slow rate hikes and a low supply of bitcoin on crypto exchanges rallied the price of BTC.
The Near Term Assessment of Bitcoin Traders
As markets watch the price of BTC move on crypto exchanges this month, traders are assessing bitcoin’s near-term prospects. BTC’s three-months price doldrums represents a market ambivalence caused by a range of determinants of supply and demand. Hashrate is running high, long-term holders aren’t selling, the exchange supply is low, and institutional interest continues to expand cautiously.
In the near term,

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IRS Moving on Crypto Holders Who Skip Taxes: 3 Things to Know

September 25, 2022

The IRS is going after crypto owners who fail to report gains on their taxes. The US tax authority got a court order Thursday enjoining an NYC bank to turn over records on potential crypto tax dodgers.
While crypto markets appear in the throes of “winter” against buys made last November to date, half of the bitcoin holders are holding at a profit. The IRS requires US taxpayers who sell bitcoin or any cryptocurrency at a profit to report it. And it is willing to use all means available to enforce compliance.
The government seized $3.5 billion in crypto last year alone.
Here are three things to know about filing and paying US income taxes on cryptocurrency capital gains.
Cryptocurrency is Considered Property by the IRS
The Internal Revenue Service considers cryptocurrency to

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Three Reasons Bitcoin Is Oversold Like Crazy Right Now (Opinion)

September 25, 2022

Bitcoin price retested the $18K support level Friday. That’s the third time in a week, with the crypto failing to pass resistance at $19.5K twice on the 5-day chart.
The crypto exchange price for a piece of the world’s original blockchain currency continues to consolidate at around $19K. That has been the trend for Bitcoin (BTC) over the month of September.
Over the six-month chart, year-to-date, and one-year view, bitcoin is deeply in the red. It’s the third prolonged capitulation in the crypto’s history, called a “crypto winter” by longtime traders.
Yet despite the deep freeze on prices, here are three reasons why Bitcoin is oversold like crazy right now.
The Bitcoin Hash Rate Hit All-Time High in September
Bearing in mind that exchange market prices are ultimately

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The SEC is Angling to Take Authority Over All Ethereum Transactions in SPRK Suit (Opinion)

September 22, 2022

On Monday, the Securities and Exchange Commission filed a regulatory action against Ian Ballina. The computer engineer and data scientist has appeared prominently on investment programs such as CNBC, Forbes, Business Insider, and Entrepreneur Magazine.
SEC Hammers Sparkster Coin for Improper Disclosures
The SEC filed the civil complaint in Austin, Texas, over the initial coin offering for the Ethereum-based token Sparkster. The commission alleges improper consumer disclosures regarding Ballina’s compensation from the 2018 ICO:
“[Ballina] claimed he could help people ‘make millions with initial coin offerings…’ [Further he] failed to disclose the compensation he received from the issuer while he publicly promoted the tokens. He also failed to file a registration statement

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Can Litecoin Reenergize Users With New MimbleWimble Upgrade? (Opinion)

May 15, 2022

Litecoin has launched the new privacy-focused MimbleWimble upgrade. The changes have proliferated across the network for use by LTC wallets and nodes. Will it bring new enthusiasm to the flagging PoW coin?
Released earlier this month after a majority of nodes approved the MimbleWimble (MWEB) update, the upgraded implementation will be able to transact with new MWEB privacy features. The upgrade was completed at Litecoin block height of 2 million.
Lower Fees, More Privacy, Throughput, and Scalability for LTC
In the wake of MimbleWimble’s release, the update’s lead developer, David Burkett, had an urgent announcement for Litecoin node operators:
“Anyone interested in using the MWEB, and especially those who installed one of the earlier release candidates, should upgrade to

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Warren Buffett’s Advice for Beating Inflation is Actually the Key to Bitcoin’s Success (Opinion)

May 8, 2022

At the annual Berkshire meeting last week, Warren Buffett continued to balk at Bitcoin’s history-making ROI over the last decade. But the investing legend also gave advice to beat inflation which is precisely what makes Bitcoin so valuable.
The investment news world has been filled with responses to Warren Buffett’s latest remarks heaping scorn on Bitcoin. The legendary investor took his notorious “rat poison squared” insult from 2018 a step even further.
From the day Buffett made that joke in May 2018 until this weekend, Bitcoin’s price has returned investors a yield of roughly 300% ROI, even with the market drastically capitulating this year since last November’s all time highs.
Warren Buffett Won’t Buy all BTC for $25
At the 2022 Berkshire Hathaway annual shareholder

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Tether Has No Plans to Go Public: CTO Paolo Ardoino (Exclusive Interview)

May 4, 2022

The leading stablecoin by market capitalization — backed by reserves of cash and money market cash equivalents — USDT has a market cap of approximately $83 billion at the time of this writing.
Paolo Ardoino is the chief technology officer (CTO) for Bitfinex and its stablecoin, Tether (USDT). Paolo is a well-known full-stack programmer with deep experience in the financial sector (FIX protocol, Bloomberg API), he describes himself as an innovative computer scientist and creative geek. He’s been with Bitfinx for nearly eight years.
He’s also a gregarious and vocal proponent of the stablecoin project online, not shying away from fielding questions and criticisms on Twitter.
During the Paris Blockchain Week conference this April, CryptoPotato met up with Ardoino and discussed

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Crypto Companies Amid Earning Season: Numbers to Look Out for (Opinion)

May 3, 2022

Stock traders and investors who actively manage their portfolio are busy anticipating and scanning the quarterly filings every earnings season, beginning about two weeks after the end of each annual quarter.
Crypto stocks, shares in companies built around cryptocurrency, or having high exposure to the digital asset market are no different.
Crypto Companies to Release Earnings Reports
As required by the SEC, corporations with listed stocks publish earnings reports about the previous quarter, projections of future earnings, and guidance about the company’s overall situation and position in the market.
Investopedia explains why it’s important:
“This is a very active time in the market as participants (analysts, traders, and investors) review the earnings reports, which may

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NFTs Will Play a Critical Role and Translate into Transferable Credentials: HBAR’s Alex Russman (Interview)

May 2, 2022

As a part-time philosopher of digital fashion, identity, and ownership, he gave a notable keynote address in 2020 on fashion, gaming, and blockchain while directing business development for Enjin, the team behind the ERC-1155 multi-token smart contract standard.
At the Paris Blockchain Week conference in April, CryptoPotato got the chance to talk to Alex Russman, Director of Hedera’s Consumer Engagement Fund, about the future of Web3, NFTs, HBAR, as well as the growing hype around the metaverse – especially HBAR’s $250M metaverse fund.
Alex Russman Wearing Digital Clothing. Source: TwitterHBAR Modeled After Visa
Hedera Hashgraph is a decentralized Proof of Stake (PoS) network built to power and govern a digital economy of Dapps, with a proprietary underlying technology and

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An Nvidia RTX 3090 Mod Could Reportedly Make GPU Crypto Mining More Efficient

April 17, 2022

A PC gaming electronics researcher made headlines in the PC world this week after finding a way to boost the computational efficiency of the Nvidia RTX 3090 card per kWh. That could save the GPU crypto mining community some coin on the electric bill.
In Chemnitz, Germany, a one-man hobbyist PC gaming researcher by the name of Igor Wallossek recently found a way to cut the power consumption of the Nvidia RTX 3090.
A report about the home lab electronics caper by Hassan Mujtaba for WCCF Tech explains why this is a breakthrough for anyone who uses the GPU:
“NVIDIA’s GeForce RTX 3090 Ti graphics card is without a doubt the most power-hungry graphics card ever launched, sipping over 500 Watts of power and requiring insanely massive GPU cooling solutions to keep the heat in

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These 9 S&P 500 Companies Accept Bitcoin for Payment in 2022

April 17, 2022

Over the week, several major news outlets ran stories covering the basics of cryptocurrencies like Bitcoin.
One by CBS news claimed, “Crypto is not easy to spend.” That might have been true just five years ago, but in 2022, many national chain stores already accept Bitcoin.
Here is a list of nine companies that accept bitcoin for payment today.
Cryptocurrency Payments Infrastructure is Already Here
The following paragraph from the CBS Sunday Morning News article gives the impression that using your bitcoin to buy things people buy every day is some kind of big hassle:
“For now, you’ll have a really hard time spending it! Go to a pet store, a bodega, or a hot dog cart, and you’ll find it very hard to buy something with a cryptocurrency. One of the few stores that accept

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Brazil’s Push to Crypto Adoption and What Does it Mean (Op-Ed)

April 17, 2022

This week lawmakers in Brazil pushed to advance a bill that would legalize and regulate cryptocurrency— the National Congress of Brazil’s House bill 4401/21.
Senator Iraja Abreu, who sponsored a Senate version of the bill (Senate bill 3825/19), dropped his version in favor of the House bill, carrying some provisions over to 4401-21.
Bom Trabalho! (That’s Portuguese for “Good work!”)
Employing some deft parliamentary maneuvering, Abreu advanced the bill through Brazil’s legislative process. That’s because the Chamber of Deputies (Brazil’s lower house) has already approved 4401/21, so now it only needs to make it through the Federal Senate to get the full legislature’s sign-off to become law. (It’s already been approved by the Brazilian Senate’s economic affairs committee).

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The Rise of Bitcoin in El Salvador Portends a New US Foreign Policy Toolkit (Op-Ed)

April 10, 2022

US Rep. Norma Torres (D-CA) introduced the Senate Accountability for Cryptocurrency in El Salvador Act (ACES) Monday. Rep. Rick Crawford (R-AR) co-sponsored the bill.
Rep Torres averred:
“El Salvador’s adoption of Bitcoin is not a thoughtful embrace of innovation, but a careless gamble that is destabilizing the country.”
The bill instructs the State Department and heads of other US federal departments and agencies to study the adoption of bitcoin in the Pacific Central American nation and report to Congress within 60 days of passage.
Credible Concerns
ACES seeks recommendations for cyber and national security and to protect US interests abroad, including the US Dollar’s reserve currency status.
The bill made it to the US House just as Nayib Bukele took drastic measures in

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The First US State to Adopt Bitcoin Will Make Huge Gains (Op-Ed)

April 10, 2022

The United States could lose its preeminent financial and political influence in the world as other sovereign powers make haste to legalize and adopt Bitcoin as their reserve currency.
The threat to America is not merely a matter of leaving an (increasingly plausibly) enormous amount of money on the table. Bitcoin is the largest ever deployment of strong public-key cryptography in history to secure a financial system that is growing parabolically.
The cryptocurrency has innumerable use cases for fundamentally reordering and securing the world’s energy infrastructure. Joining the Bitcoin hashpower and accumulation race is a matter of modern cyber warcraft. Strong cryptography has always in practice been a weapon of warfare and is legally regarded by governments as

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Scientists Finish Sequencing the Human Genome: Here’s How Blockchain Can Fit (Op-Ed)

April 9, 2022

The Human Genome Project started in 1990. By 2003, with 92% of the genome sequenced, the project was declared complete. This year tech advances have finished the other 8%. Blockchain tech like NFTs can use the information from this marvelous project to build new, better biotech products for humanity.
The achievements of the human DNA research were published in the journal Science on Thursday. The UC Santa Cruz-based Telomere-to-Telomere (T2T) Consortium, an open, community-based effort with a team of nearly 100 scientists, announced it is ready to present the complete human genome for the first time in history.
The Connection Between Medial Researchers, Blockchain, DNA
The open, peer-reviewed, project-focused, humanitarian community of scientists has an ethos that many in

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How the $35M Fractal Just Raised Could Rock the NFT Space (Op-Ed)

April 3, 2022

The announcement came on April 1, but it was no joke. Neither was the amount raised, $35 million USD, a tidy sum. Justin Kan dropped a hint of what was ahead for Fractal last month, tweeting, “Yeah, I built Twitch, it has millions of users & gaming NFTs are way bigger.”
Ten days before launching the NFT marketplace on Dec 30 last year, Fractal announced the launch, and by the time it went live, the Fractal Discord had accumulated some 107,000 followers, according to Kan in an interview with GamesBeat.
Paradigm and Multicoin Lead $35M Seed Round
Along with Menlo Park, California-based Andreeson Horowitz, Solana Ventures, Coinbase, Animoca Brands, Play Ventures, Position Ventures, Zynga founder Mark Pincus, Crossover, Shrug Capital, TerraForm CEO Do Kwon, Tim Ferriss, and

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Will Tim Cook’s Apple Pay Push Slow Bitcoin Adoption? (Op-Ed)

April 2, 2022

The California Macintosh and iPhone maker is in the process of ramping up its proprietary financial services technology and increasing Apple’s lending to iPhone users of Apple Pay.
This is according to a Bloomberg report from earlier this week.
The Cupertino high-tech giant sounds serious about the project, dubbing the effort “Breakout” and seeking to replace its fintech partners with in-house solutions and infrastructure to bolster payments processing, credit checks, and other financial services.
Apple CEO Tim Cook Eyes Apple Pay Growth
That could scoop up a tidy sum of future profits from payments alone, as well as greater user enrollment into Apple’s “walled garden” of native apps and products. According to The Verge, there are over 1 billion active users of Apple

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Intel Arc GPU, Moore’s Law, and Crypto Mining in 2022

April 2, 2022

Intel’s new gaming chip is now available on laptops, and it’s being hailed by some in the crypto industry as a major disruptor to the cryptocurrency mining hash race.
Here’s a short primer on Moore’s Law from Intel:
“In 1965, Gordon Moore made a prediction that would set the pace for our modern digital revolution. From careful observation of an emerging trend, Moore extrapolated that computing would dramatically increase in power, and decrease in relative cost, at an exponential pace.”
Will the inexorable march of Moore’s Law lead to swift democratization of hash power on cryptocurrency networks, with home gaming computers and consoles making massive earnings spinning away at SHA-256 questions when they’re not busy creating visually lush, simulated environments for players

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Hedge Fund Chief’s Inflation Prediction And What it Could Mean for Crypto (Opinion)

November 30, 2021

In a CNBC interview over the week, a major hedge fund manager predicted that “massive inflation” will lead the Fed to hike interest rates six times by 2024. Crypto traders are keeping a close watch on the macro-financial environment as they wrap up another volatile month.
Federated Hermes has over $600 billion in assets under management. Phil Orlando, the investment firm’s chief equity strategist, has been a long-time stock market bull but expects the big changes at the Federal Reserve to dampen this year’s surging stock market rally.
Orlando: Big Inflation and Fed’s Actions
Speaking to Stephanie Landsman on CNBC’s “Trading Nation” Wednesday, Orlando projected a slew of rate hikes ahead, but probably not until Q3 of next year:
“Our best guess is that we will see two

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Fed Balance Sheet Hits $8.357 Trillion, Is It Hastening Crypto Adoption? (Opinion)

September 13, 2021

This week the U.S. Federal Reserve’s balance sheet charted another all-time high. At an astounding $8.357 trillion, are the rapidly growing assets of the Fed speeding crypto adoption?
The Federal Reserve publishes updates to its balance sheet numbers every seven days. This week’s report was a doozy, revealing another $8 billion in assets purchased over the period.
The U.S. central bank has been busily hoovering up mortgage-backed securities and Treasury bonds, buying them with new dollars it creates at its own discretion.
Fed Balance Sheet Hits New Record High
The Fed’s balance sheet now stands at an incredible $8.357 trillion. Are we looking at a dollar bubble in the making? “There is no end in sight,” remarked crypto proponent Anthony Pompliano.
Source: Board of

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Bitcoin’s Price Has Correlated With US Stocks for The Last Month

September 11, 2021

Over the last month, Bitcoin’s price (BTC) has correlated tightly with stocks. Here’s what could be causing it.
The last week saw hundreds of billions of dollars wiped from the cryptocurrency industry’s overall market cap. Bitcoin’s price is down 8.8% over the last 7 days. Ethereum’s price (ETH) is down 15.4%. Binance Coin BNB) is down a further 17.9% over the same period. And pity the Dogecoin holder (DOGE) who bought last Saturday for a 20% loss by today.
In fact, all of the top ten cryptocurrencies by market cap, other than Solana (SOL), are in the red for the week.
Why Is Bitcoin’s Price Falling With Good News?
The market route has tempted a central bank governor to issue another one of those Bitcoin obituaries. But cryptocurrency traders could be forgiven for thinking

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El Salvador Officially Becomes First Country to Buy Bitcoin with Initial 200 BTC Purchase

September 6, 2021

President Nayib Bukele announced the milestone on Twitter, telling followers his country “just bought its first 200 coins.”
Bukele noted the Central American nation will be buying more bitcoin as the deadline approaches to make El Salvador the first nation to officially recognize a cryptocurrency as legal tender. The president tweeted early Monday afternoon:

El Salvador has just bought it’s first 200 coins.
Our brokers will be buying a lot more as the deadline approaches.#BitcoinDay #BTC??
— Nayib Bukele ?? (@nayibbukele) September 6, 2021

At the current bitcoin price of $52K for 1 BTC, the purchase is worth approximately $10.4 million.
History Made With 200 BTC Purchase
Bukele also expressed gratitude toward the blockchain technology and Bitcoin industry for the

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COVER Isn’t Covered: Devs Abandoned the DeFi Insurance Protocol, Token Plunged 16%

September 5, 2021

Following the announcement by core contributor “DeFi Ted,” COVER price plummeted 16% as trading volumes soared. Cover Protocol, a DeFi insurance cryptocurrency minted on Ethereum, will no longer receive support and development after engineers in the core team left suddenly.
The insurance coin’s core contributor, “DeFi Ted” announced the project would be shutting down early Sunday morning. COVER had a market cap of around $21 million at the time he made the announcement. Within hours, the price fell over 16%, from $269 to the low $220s as of writing these lines.
24-hour trading volumes surged from below $4 million to nearly $20 million as COVER holders scrambled to exit. DeFi Ted advised coin holders to “withdraw any funds from both protocols asap, as we can no longer

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Vitalik Buterin Tells How Jack Dorsey’s TBD Might Build the Bitcoin DEX

August 31, 2021

The success of DeFi (decentralized finance) blockchain apps has not escaped the notice of Square Payments (NYSE: SQ) CEO Jack Dorsey.
The engineer, businessman, and BTC advocate recently announced that his blockchain project, TBD, will enter the space by creating a Bitcoin DEX.
Vitalik Buterin “Skeptical” About Bitcoin DEX
In a recent interview, Ethereum co-founder Vitalik Buterin told Bloomberg Technology he wasn’t very impressed with the new endeavor.
Buterin thinks it fundamentally lacks a sense of the qualitative difference between Bitcoin and smart contract, Turing-complete chains like Ethereum among a growing field of others continuing to attract millions in capitalization.
Buterin said:

“I’m skeptical about these decentralized, finance-on-top-of-Bitcoin type of

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Not Just MicroStrategy, These Corporations Hodl: Top 10 Stocks With Exposure to Bitcoin

August 29, 2021

Microstrategy just bagged $177M more BTC between July 1st and August 23rd. That brings Michael Saylor’s company’s total hodlings to $5.3 billion USD worth of bitcoin. Other big corporate buyers include Tesla, Square, and Galaxy Digital Holdings.
The business intelligence company can’t get enough bitcoin. And it’s not the only extremely relevant and proactive company in the high tech or investing sector to be this incredibly bullish Bitcoin. In fact, Michael Saylor says he was one of the influences on Elon Musk that led to Tesla piling bitcoin into its balance sheet.
Here are 10 more publicly traded companies that give any investor’s stock portfolio equity exposure to bitcoin’s price growth as well as corporate innovation and enterprise in one instrument:
1. Tesla (NASDAQ:

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How the Life of El Salvador’s People Could Change Following Bitcoin Legalization in 10 days (Opinion)

August 28, 2021

El Salvador will, in ten days, adopt Bitcoin as an official currency. It’s making massive investments in projects to develop end-user products to hold and spend bitcoin. The opportunities of this venture are enormous, though some warn there are risks.
El Salvadorians Will Soon Find Imports Attractive
Because Bitcoin is a deflationary cryptocurrency, and the oldest blockchain with the most of its limited currency already mined, and especially given the history of the BTC price since its inception in 2009, it’s easy to see a future for El Salvador of suddenly increasing purchasing power against other countries’ currencies.
That’s especially so given the rate at which most central banks are devaluing their currency, while Bitcoin’s supply is not only limited, but new coins

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