Bitcoin's Real Injection and Facebook's Fictitious Crypto
Meet Facebit, Facechain, and Bob the Facemeister
The big news this week is bitcoin. Tesla announced that is was going to start taking bitcoin for payment and sunk $1.5 billion into BTC. The market reaction was a stunning surge in price that sent bitcoin from roughly $38,000 to over $48,000 in less than a week. I touch on that and other fintech news in my Friday Fintech Roundup:
Facebook, Facebit, Facewhat?
As crazy as it sounds, I wondered what Facebook would look like today if it launched in 2004 with a cryptocurrency. Of course, bitcoin hadn’t been created yet, but the fundamental building blocks of crypto had already been laid. Here’s a sketch of what Facebook might look like today if they had launched with a blockchain.
Other Crypto News Today
Here’s a quick snapshot of some other news going on today:
IOTA is adding smart contracts to its blockchain. I’m waiting for someone to say “ITOLJA.”
XRP bounced 15 percent on the Tesla/Bitcoin news. Ethereum hit a new high.
JD Supra says to assess your risk before getting into crypto. Good advice.
Cardano has over 100 commercial projects lined up.
What you need to know about your 2020 crypto taxes.
Jack Dorsey and Jay Z are going mainstream with a crypto fund.
BlockFi is raising a Series D round at $2.85 billion pre-money valuation.
Mastercard will enable more merchants to accept cryptocurrencies.
Allen Taylor is a veteran award-winning journalist and former newspaper editor. He is a freelance writer focused on fintech, including blockchain and crypto projects, and manages crypto blogs through CryptoBloggers. Let’s connect on Twitter.