In this issue
- Elon Musk and Tesla skyrocket bitcoin prices to new stratosphere
- First Boulevard neobank soon to offer Visa crypto services
- Chicago Mercantile Exchange launches ETH futures
- DeFi shrugs off YFI attack
- Ripple XRP finds refuge in Japan
- China spreads lunar new year cheer with many more DCEP red packets
From the Editor’s Desk
Kung Hei Fat Choy.
Happy Year of the Ox to one and all, and what a bull run it is to kick off a year of prosperity when it comes to innovation.
If you haven’t heard (yet), Tesla disclosed in an SEC filing this week that it had purchased US$1.5 billion in bitcoin. The move was approved by its board of directors, which consist of names you might know, like Larry Ellison and James Murdoch. More important, you should note the representation of Corporate America that just approved the move into bitcoin, including Oracle, Walgreens, Kellogg, Twenty-First Century Fox, well… you get my point. The signal is clear. Miners are working hard right now to unlock more bitcoin to meet demand. And the demand is increasingly coming from institutions.
Pre-2008, institutional demand for non-fiat digital currency would have been the stuff of fiction. Bitcoin was just a figment of Satoshi Nakamoto’s imagination. But here we are — in 2021, the crypto market value has now surpassed the US$1 trillion mark.
Welcome to the future. It’s here.
Until the next time,
Founder and Editor-in-Chief