Blockchain and Cryptocurrency: People, Culture and Tech
Silvergate, one of the first banks to embrace crypto, has been on tear thanks to its decision to accept cryptocurrency customers when no other banks would.
Bitcoin’s latest surge, which obliterated what used to be major selling pressure close to $50,000, came on the back of news of fresh corporate buy-ins—a classic catalyst for price gains. This time, familiar face MicroStrategy joined a newcomer in the form of German cannabis firm SynBiotic in adding BTC to its treasury. The former will issue $900 million in convertible notes, while the latter purchased an unspecified amount of Bitcoin, becoming the first publicly-traded company to use the cryptocurrency to hedge against euro inflation.
Bitcoin has transformed once again this week — not so much in price as in character — with $50,000 still easily within range. Bitcoin has transformed once again this week — not so much in price as in character — with $50,000 still easily within range.
In a filing with the U.S. Securities and Exchange Commission, the electric vehicle manufacturer also confirmed that it plans to accept BTC as a payment method soon. However, it’s unclear whether or not such payments would be converted into cash immediately afterwards.
