2021W47 - WTF has happened in bitcoin this week?
Bitcoin, thank you.
TLDR: Salvador buys the dip, NFL player to get paid in bitcoin, Artist and Cinemas adopting bitcoin, Bitcoin donations, and more.
Hey there niblings, it’s uncle Bam again, with a summary of the most insightful events in the Bitcoin space. Back at it again digesting all the important news for you.
The price has taken a “dip” to prices not seen.. a month ago. At the time of writing the price oscillates around $54,000, prices we only wished to see a year ago.
From the mainstream media side, there seems to be fear in the markets, but honestly I think these are times to be grateful. Hardly anyone who adopted bitcoin as a savings mechanism, would be seeing their investment under the water, so thank you bitcoin.
Although it is true, people enter the market and expect to do crazy profits, as the impression of bitcoin is to be “extremely volatile”, the truth is that bitcoin appreciates in short time spans, and most of the time there is a “boring price action”. So the best strategy is to relax, and stack some sats.
Adoption keeps ramping up, and development continues, from conferences to businesses adopting the bitcoin standard, the only way to accelerate this process of hyperbitcoinization is:
Remind ourselves the constant development. (Gain conviction.)
Share the amazing opportunity with others. (Teach newcomers.)
Rinse and Repeat.
It is not a get rich quick scheme, it is a marathon of appreciating freedom.
The bitcoin network has allowed people to move funds freely without the need of third parties, and it continues to do so and grow year by year. In just over a decade, it has taken third place in volume across all payment processors:
And this is how the week started.
1. El Salvador just bought the dip, adding 100 extra bitcoin to their reserves, amounting a total of 1220 bitcoin.
2. Bukele, the president of El Salvador, will speak at Bitcoin 2022 Conference and share his experience in pursuing a Bitcoin standard while challenging the assumptions of international bodies.
3. Estonia’s largest bank will allow customers to buy Bitcoin directly from their accounts.
4. Square's Bitcoin business TBD released the white paper of its decentralized bitcoin exchange proposal, tbDEX. The protocol aims be a bridge between the fiat and bitcoin world.
5. Swan Bitcoin, the bitcoin-only buying app has raised $8.5 million to date and added Lyn Alden to its board of directors.
6. Odell Beckham Jr, NFL wide receiver, announced that he will take his entire new salary in bitcoin, through a partnership with CashApp. He will also be giving away a total of $1 million in bitcoin to fans through his social media.
7. Regal cinemas will accept Bitcoin for ticket purchases.
8. MercadoPago, Mercado Libre's digital payment app, announced to allow its Brazilian customers to buy, sell, and hold bitcoin.
9. Fold, the bitcoin rewards and payments app, has partnered with Niantic, the company behind Pokémon Go. Together they'll launch a new augmented reality (AR) feature for Fold's app, where users can search and collect real bitcoin prizes around them.
10. Michael Ford, aka Fanquake, is Bitcoin Core’s 5th most prolific contributor and the fourth to be sponsored by Gemini.
11. Ledger has launched the latest version of its Bitcoin application, adding support for partially-signed bitcoin transactions (PSBTs), data Merkleization, and new wallet policies.
12. Singaporean Fintonia Group has launched two bitcoin funds for professional investors.
13. International fair Design Miami to accept bitcoin payments for artwork this year.
14. The Liberland Aid Foundation donated over 1 bitcoin to the Benjamin Bloom National Children's Hospital.
15. OneRepublic became the first major U.S. band to be paid in bitcoin for a live gig.
As a summary note..
It feels like not much happened this week, but looking back there are always new development and players joining the network. In this holiday weekend when banks are not available, just remember bitcoin always is.
Have a great weekend niblings.
Stay humble & stack sats.
How to buy bitcoin? (With Relai through Revolut)
If you are in Europe, I made a pretty simple guide with 3 steps, which avoids you having to set up an account on an exchange, give them all of your personal information, plus custody of your funds.
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