Bitcoin falls to $45K in sequel to 20% BTC price crash
A failed rebound above $50,000 looks to flip the level back to resistance as $47,000 becomes a new price focus.
- Published in Uncategorized
State Bank of India joins JPMorgan’s blockchain payments network
A major government-owned bank, the State Bank of India, has become the first Indian bank to join JPMorgan’s blockchain network Liink.
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Thailand Authorities Are Targeting Japanese Crypto Holders to Boost Tourism
Thailand seems to be interested in catching Japanese crypto holders’ attention via tourism. The country wants to establish a crypto-friendly touristic hotspot and the first targeted country is the nation of the rising sun.
Program Aims to Add New Segments With ‘High Spending’
Per Bangkok Post, the Tourism Authority of Thailand (TAT) seeks to put the nation as the first to welcome crypto holders by targeting Japanese tourists in the early stage.
The maneuver is given in the context of the pandemic that hit hard Thai’s tourism. The program looks forward to emphasizing segments with “high spending.”
After holding discussions with the Technology Promotion Association (Thailand-Japan), the TAT determined that such target should be Japanese crypto-asset holders.
They backed their statements by relying on the performance in crypto prices over the last few years. As such, the bull-run is also encouraging the TAT to study the possibility to implement digital currency at tourism hotspots across Thailand.
Yuthasak Supasorn, TAT’s governor, praised the cryptocurrency market and its compatibility with Thailand’s expectations to strengthen tourism in a post-pandemic era:
If we can prepare the country for the cryptocurrency market, it will help attract more opportunities from high-spending tourists, especially the young and wealthy generations.
Even Elon Musk Might Be ‘Interested’ in Visiting Thailand, Says Official
By citing Dalia Research figures, Bangkok Post says 11% of Japanese own cryptocurrencies, higher than the global average of 7%. Such numbers are encouraged in some way by the tourism authorities to target Japan in a first stance.
Supasorn also hinted about the possibility that Tesla’s CEO Elon Musk could even “be interested in visiting Thailand” after launching the program.
This year, the government determined to establish a foreign arrival goal to 8 million tourists, down from 10 million. Still, the TAT expects to deploy a massive sales campaign after April to attract tourists during the third quarter of 2021.
What do you think about implementing a crypto-related strategy to attract crypto holders’ tourists to Thailand? Let us know in the comments section below.
- Published in Uncategorized
Whale who sold Bitcoin before 2020 crash cashed out $156M before this week’s 20% dip
A serial seller with a lot of BTC to their name chose to divest themselves of a large chunk of Bitcoin just before Monday’s crash to $47,400.
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Bank of Korea chief says crypto has no intrinsic value, expects volatility
Bank of Korea Governor Lee Ju-yeol has expressed skepticism over the recent crypto rally, stating that the bank is progressing with a digital currency project.
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Bill Gates warns Bitcoin buyers: If you have less money than Elon Musk — watch out!
The Microsoft founder thinks anyone with less money than the world’s richest man should “watch out” when it comes to Bitcoin.
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PTERIA to Mars Celebrates a New All Time High
While Bitcoin and the greatest part of altcoins are going down, Pteria DAO’s token PTERIA could not be outdone and is currently on Mars, exceeding $40.
The moon is now too close, so Mars is the real new all time high to reach.
However, the token, listed for the first time on decentralized exchanges such as Uniswap and Balancer just a few months ago, today marks its all time high and is now worth over $40, as you can see on Coinmarketcap or Coingecko.
Recently Pteria announced its interesting staking project that offers up to 24% annual reward for those who block its PTERIA tokens and vote for the DAO’s proposals.
Currently, in less than a month, over 2 million tokens have been staked on the platform called Aragon.
Pteria and Wallem
All of this is happening at a time when due to Covid-19 and related worldwide lockdowns and curfews, the Wallem project, the first game to use the PTERIA token, is on a hiatus.
Like Pokémon Go, Wallem allows you to capture discounts and items by going around the city and that’s why, due to the limitations put in place by the governments of almost all countries, the project is in a state of standstill, although from the calendar of events you can see that everything will resume its course on April 9th.
The Pteria DAO, in fact, at the time of its foundation has decided to offer games like Wallem its tokens, becoming the first decentralized autonomous organization to support different games and applications. Wallem is the first in this series but more will be announced in the future.
The burning of PTERIA tokens
Compared to the initial supply of 21 million, the DAO decided to burn most of the total supply and now stands at only 7 million existing tokens in order to create a highly scarce token ecosystem.
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Speechwriter for Former US President George Bush Says BTC Rally Driven by ‘Historically Low Interest Rates’
A speechwriter for former U.S. President George W. Bush and a bitcoin critic, David Frum has claimed that the low-interest rates are fueling the crypto asset’s rally. Frum suggests that the crypto asset might experience a “fast and deep price crash” if and when interest rates start to rise.
Institutional Interest in BTC
In comments made via Twitter, Frum, who regurgitates the BTC mining inefficiency claims, also attacks the crypto asset’s store of the value proposition. He states that of “all the pro-bitcoin arguments, surely the worst is the store against inflation.”
Still, despite this criticism, the crypto asset continues to gain support from institutional investors and large companies. For instance, electric carmaker Tesla, which recently amended its investment policy, revealed it had bought BTC worth $1.5 billion.
Furthermore, according to bitcointreasuries.org, the website that tracks companies or institutions that have exposure to BTC, over 1.3 million coins or 6% of the total circulating supply is held by large corporations.
The True Value of BTC
In the meantime, Frum’s remarks about bitcoin have sparked a debate on Twitter concerning the crypto asset’s true value proposition. For instance, in his response to the remarks, Alex Gladstein, the chief strategy officer with the Human Rights Foundation (HRF), reminds the former speechwriter about BTC’s human rights implications. Gladstein, who recently endorsed the crypto asset, said:
Only 13% of humans live under a liberal democracy with a reserve currency. The other 7 billion+ live under authoritarianism or a weak currency. Bitcoin is a powerful tool for them.
Also, another user named Unfettered Nic Carter shares with Frum the other likely outcome of rising interest rates. The user explains that “if interest rates rise, the corporate sector and the government will be insolvent.” Carter then asks: “What do you think is more likely – we bankrupt everything, or we print our way out?”
Meanwhile, other Twitter users like Lepton939 said they were in agreement with the assertion that BTC provides “immunity from inflation.” Nevertheless, this user expresses concern at the crypto asset’s volatility saying:
“Since the price fluctuates so wildly I’m afraid to hold it. But I’m guessing its real value is the scale of illicit transactions it accommodates.”
Still, other users like Jeffrey Smith are praising Frum for making these remarks about bitcoin. In his tweet, Smith remarks:
Exactly. Zero intrinsic value (which is related to your interest rate observation); 100% speculative value (= bigger fool theory); & environmental mess to mine. What’s not to like?
While Smith suggests that “gold is very similar” he is however quick to explain that unlike BTC, the precious metal can be used for making jewelry. He then concludes by saying: “There’s no Bitcoin jewelry as far as I know.”
Do you agree with Frum’s assertion that BTC value will crash once interest rates start to rise? Tell us what you think in the comments section below.
- Published in Uncategorized
PTERIA to Mars Celebrates a New All Time High
PRESS RELEASE. While Bitcoin and the greatest part of altcoins are going down, Pteria DAO’s token PTERIA could not be outdone and is currently on Mars, exceeding $40.
The moon is now too close, so Mars is the real new all time high to reach.
However, the token, listed for the first time on decentralized exchanges such as Uniswap and Balancer just a few months ago, today marks its all time high and is now worth over $40, as you can see on Coinmarketcap or Coingecko.
Recently Pteria announced its interesting staking project that offers up to 24% annual reward for those who block its PTERIA tokens and vote for the DAO’s proposals.
Currently, in less than a month, over 2 million tokens have been staked on the platform called Aragon.
Pteria and Wallem
All of this is happening at a time when due to Covid-19 and related worldwide lockdowns and curfews, the Wallem project, the first game to use the PTERIA token, is on a hiatus.
Like Pokémon Go, Wallem allows you to capture discounts and items by going around the city and that’s why, due to the limitations put in place by the governments of almost all countries, the project is in a state of standstill, although from the calendar of events you can see that everything will resume its course on April 9th.
The Pteria DAO, in fact, at the time of its foundation has decided to offer games like Wallem its tokens, becoming the first decentralized autonomous organization to support different games and applications. Wallem is the first in this series but more will be announced in the future.
The burning of PTERIA tokens
Compared to the initial supply of 21 million, the DAO decided to burn most of the total supply and now stands at only 7 million existing tokens in order to create a highly scarce token ecosystem.
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
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New report predicts NFTs will explode in popularity during 2021
NFTs are pumping right now, with a new report identifying more NFT sales in the last 24 hours than during the entirety of 2020.
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