Let's Celebrate: Ether, Bitcoin, and the Continued Rise of Crypto
There's a lot to celebrate in crypto this week
Yesterday, I sent the manuscript of my upcoming book Cryptosocial: Is Social Media Ready for Decentralization? to my publisher. It should take about four months before it is released into the wild.
This is cause for celebration.
Let’s see what else we can celebrate about crypto this week, shall we?
Celebrating Ether’s New All-Time High
Let’s start with Ethereum. Ether hit a new all-time high on Thursday when it bounced over $3,500. Founder Vitalik Buterin has now entered the billionaire club at age 27. City A.M. reports the top altcoin is headed toward $5,200. Ben Carlson says there are two reasons why ether is suddenly taking off. Meanwhile, Jim Cramer sold his ether to buy a Hummer and Burnt Finance is betting $3 million that NFTs will move off of the Ethereum blockchain.
A new protocol calling itself Butterfly will allow anyone to sponsor new top-level domain names. If you want to see a decentralized web, this is one giant leap forward.
Fintech app Revolut is launching withdrawals in bitcoin. This is significant because as more popular companies adopt cryptocurrencies, the more valuable the entire crypto space will become and one step closer to mass adoption we get. How about a hand clap for Revolut?
In other bitcoin news, the leading cryptocurrency now accounts for 70 percent of Square’s business revenue. Metromile is the first insurance company to accept bitcoin payments for premiums. Both bitcoin and ether have made S&P Global indices on Wall Street. Bloomberg wants to tell you how to decide whether to invest in bitcoin or ether. But before you do, learn why one bitcoin millionaire doesn’t recommend crypto for new investors. And if your major concern with bitcoin is its high energy use, one cryptocurrency offers an ecofriendly alternative. But will it drive up hard drive prices?
Speaking of new investors, Dogecoin has sparked an interest in cryptocurrencies among newbies.
Despite opening the door for PayPal users to accept crypto payments, PayPal’s CFO says the company won’t be investing in crypto any time soon.
What happens when central banks issue digital currencies? Find out with this special report from The Economist.
A Fed survey indicates that some people view cryptocurrencies as a threat to financial stability.
Will these four dApps dominate the future?
Bitso, a Mexican crypto trading platform, has raised $250 million.
A federal court has authorized the IRS to seek identities of taxpayers who have used cryptocurrencies. However, the IRS has issued guidance on hard forks. Meanwhile, here are five tax tips you should know. And if you’re looking for cheap cryptocurrencies to invest in, here are five you should know about.
Read about cryptocurrency’s climate challenge.
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Don’t look for this every week, but here’s a little preview of the YouTube channel my wife and I set up to catalog our traveling writing/publishing business.
See you next week!
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. He is currently writing a book about where crypto intersects with social media.