Tag Archives: Bitcoin Adoption

Townsquare Media (NYSE: TSQ) – a New York-based radio network and media company – revealed that it purchased $5 million in Bitcoin during Q1 2022 in a recent SEC filing. It claims to believe in the “long-term potential” of Bitcoin – despite being down on its current investment. The filing explains that the company had purchased $5 million in Bitcoin before March 31st of 2022. Its coins are secured through third part custodial services. That said, the Townsquare acknowledges...

Many Cubans are now using cryptocurrencies as an alternative means of exchange due to limitations imposed by US sanctions on the country’s traditional payment rails. Over 100,000 Cubans are reportedly using digital assets, largely thanks to mobile internet reaching the country just three years ago.  Cuba’s Crypto Economy NBC News recently interviewed Nelson Rodriguez – a Cuban cafe owner who now accepts both Bitcoin and Ethereum for payments. He said he believes in the...

Italian high-end luxury fashion house Gucci is all set to accept cryptocurrency in five stores in the US later this month. The move comes as the company continues to explore Web 3. Gucci Taps Crypto According to a report by Vogue, Gucci also plans to amplify the pilot to all of its North American stores this summer that the leading luxury brand directly operates. In the beginning, Gucci will accept 12 cryptocurrencies, including Bitcoin, Bitcoin Cash, Ethereum, Wrapped...

After the Central African Republic (CAR) announced adopting Bitcoin as legal tender and legalized the use of cryptocurrencies last month, the International Monetary Fund (IMF) warned that such a move might cause financial instability in the country. The criticism came on the heels of the organization expressing hawkish opinions on multiple occasions against El Salvador’s adoption of Bitcoin and president Nayib Bukele’s ambitious plan to introduce Bitcoin-backed bonds. The...

On May 3, U.S. Senator Cynthia Lummis (R-WY) was interviewed by Axios news media and revealed important details about the crypto bill she hopes to introduce before the end of the year. The bill, Lummis says, adapts the legal framework so that cryptocurrencies and traditional assets fall under similar regulatory categories. “We’ve designed it so it works within the customary framework for managing and regulating traditional assets. So, for example, Bitcoin is a commodity. So...

Billionaire hedge fund manager Paul Tudor Jones explained on Tuesday why he’s still bullish on Bitcoin, despite its flat price over recent months. He believes the crypto ecosystem is part of a broader trend toward a borderless internet and globalized world, and that younger generations will bring it about. Centralization VS Decentralization When speaking with Joe Kernen of Squawk Box, Jones specifically described a “generational” and “digital” divide around Bitcoin. While...

Major Dubai-based real estate developer Damac Properties has revealed that it would receive payment for property in cryptocurrency. Buy Property With Bitcoin and Ether According to Khaleej Times, Damac said it would add payments for any of its properties that can be made in Bitcoin and Ether, the two largest crypto assets by market capitalization. The company noted that enabling such payment will give more options and will be convenient for real estate investors. Also, the...

Renowned fashion designer – Philipp Plein – predicted that more clients will employ cryptocurrencies when purchasing the company’s products this year. He envisioned digital assets to account for between $15.8 million to $21 million of the firm’s 2022 revenue. Crypto to Become a Key Player at Philipp Plein One of the leading fashion companies in Europe – Philipp Plein International AG – jumped into the world of crypto last year by enabling its customers to pay for clothes,...

A research conducted by the aviation company Fast Private Jet estimated that the central European country – Slovenia – is the world’s most crypto-friendly state. Moreover, its capital – Ljubljana – is the most welcoming destination in Europe for digital asset businesses. Central Europe Leads the Way The Italy-based aviation firm – Fast Private Jet – performed a global study to determine which countries have the most venues where cryptocurrencies are accepted as a payment...

The Panamanian Legislative Assembly has passed a bill regulating the commercialization and use of cryptocurrencies. Once signed by the President, it will enable residents of the country to pay their taxes and civil debts using multiple digital assets. A Rival to El Salvador? Gabriel Silva – the 32-year-old Panama congressman behind the bill – announced its passing on Thursday, after it received approval in its third debate. He said the law will help make Panama “a hub for...