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Crypto Top 5 News of the Week

Photo of: Joseph Stone
by Joseph Stone

MicroStrategy is buying more Bitcoin and will continue to do so

The publicly traded IT company MicroStrategy has been making quite a splash lately. Its CEO, Michael Saylor, has become one of the strongest advocates of Bitcoin, which he sees as a real bulwark against inflation, among other things. Microstrategy announced that its “investment plan” for the coming quarter would involve “the use of Bitcoin as a primary cash reserve asset”. The company now owns 38,250 BTC (519 million dollars) and its CEO has tweeted that he has personally more than 17,000. If that’s not faith in Bitcoin…

Trading Amazon and Tesla shares with cryptocurrencies is possible

A few hours ago we learned that it is now possible to trade with cryptocurrencies the shares of large groups such as Tesla, Apple, Google, Amazon, or Netflix. It is the FTX crypto exchange that makes it possible to do so. Concretely, the shares of these companies are found in a fractional form, they are tokenized and integrated into the catalog of trading pairs. So you can exchange Tesla for Bitcoin in just a few clicks. Chances are that FTX will be quickly imitated by its competitors.

Americans are buying more and more Bitcoin… thanks to COVID-19

Americans are buying more and more Bitcoin (BTC) thanks to COVID! This was revealed in a recent survey of 1,000 individual investors in the United States commissioned by Grayscale. The survey found that 63% of the respondents who “invested in Bitcoin in the previous four months said that “COVID-19 influenced their decision”. The dean of cryptocurrencies thus became even “more attractive” during the crisis. According to the survey, nearly 40% of those who expressed an interest in Bitcoin considered it a “safe investment” with a majority in the 35-44 age group. Last interesting figure: 55% are interested in investing in Bitcoin, compared to 36% a year earlier.

JPMorgan has done a 180 on Bitcoin

The least we can say is that the famous investment bank J.P. Morgan has made a big difference in its position on Bitcoin. We’re even talking about a complete turnaround. Three years ago, its CEO called Bitcoin a “fraud” and this week the financial institution stated in a document for its investors that “the long-term upside potential of Bitcoin (BTC) is considerable”. The ugly Bitcoin has magically turned into a nice cryptocurrency with great potential. “Cryptocurrencies have a great use,” said J.P. Morgan, noting that “Bitcoin could appeal to billionaires in the longer term”.