Tag Archives: Bitcoin Adoption

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...

According to the American non-profit organization – the National Bureau of Economic Research (NBER) – the majority of El Salvadorans (60%) have not downloaded the Chivo Wallet (a feature that facilitates bitcoin transactions). Additionally, there have been almost no downloads since September 2021, when the country became the first nation to adopt the asset as legal tender. Bitcoin Adoption in El Salvador Not Progressing Last year, the Central American state made the headlines...

The Central African Republic (CAR) has officially become the world’s second country to adopt Bitcoin as legal tender, announced the President’s office on Wednesday. As with El Salvador, the International Monetary Fund (IMF) has heavily criticized the decision. Another Nation Onboards the Bitcoin Standard The news was confirmed by French news agency AFP, following uncertain rumors about legal tender adoption from a standout Forbes report on Saturday. The initial report...

One of the most successful soccer clubs in Mexico – Tigres – partnered with Bitso to enable fans to purchase tickets in bitcoin. The latest cryptocurrency adoption does not end there, as the leading delivery platform in South America – Rappi – and the renowned provider of jewelry and precious metals – SFL Maven – revealed the same intentions. Bitcoin Gets one Step Closer to Mexican Soccer Seven-time champion of Mexico’s premium soccer league – Tigres – disclosed it...

According to a forecast on the crypto industry released on April 20 by research firm Insider Intelligence, nearly 34 million Americans will own cryptocurrency by the end of the year. That equates to around 10% of the population, though the company reported a higher figure of 12.8%, possibly taking the adult population figures into account rather than the total. The researchers predicted that the number of U.S. adults who own and use crypto for payments will double digits by...