Tesla’s Bitcoin enthusiasm was short-lived as the leading electric car manufacturer suspended the Bitcoin payment option within a month of announcement. Elon Musk, the CEO of the company cited Bitcoin’s rising environmental concern as the key reason behind scraping BTC payment for Tesla cars. However, many pointed that Musk’s claims on Bitcoin don’t add up since Tesla is still holding onto over $1 billion in BTC on its balance sheet.
Israel’s Defense Minister Benny Gantz has ordered the seizure of cryptocurrency funds raised by the Palestinian Islamist movement Hamas. His department has reportedly started taking control over digital wallets used by the terrorist group to collect crypto donations from abroad.
TikTok has joined the defensive forces against crypto due to the concern of rising financial scams. It has announced an updated branded content policy to halt the advertisement of financial services and products worldwide. The short video application has banned all financial promotions by influencers on the platform, be it cryptocurrencies, share trading, pyramid schemes, loans, and credit cards, buy now pay later services, trading platforms, cryptocurrencies, and get rich quick schemes.
As established by Satoshi Nakamoto's Bitcoin (BTC) whitepaper, the core of cryptocurrency is a peer-to-peer electronic cash system that eliminates the need for intermediaries like banks. This spirited independence and scoffing at the hand-holding of traditional banking systems is pervasive across the cryptosphere.
On-chain analyst William Clemente says whales are once again diving into the Bitcoin markets.
In his latest newsletter, Clemente notes that the number of new users on the Bitcoin (BTC) network is at a new all-time high.
The Chinese government is taking its digital yuan test one step further. Now, 10 million users will be able to test and use the currency after applying to join a whitelist in selected state banks. This new phase of the test aims to detect possible problems in a more broad testing environment. China is preparing its user base and its digital yuan technology to be used in the upcoming 2022 Winter Olympics.
Presenting at the Talent Land Jalisco 2021, Apple cofounder Steve Wozniak called bitcoin an “amazing mathematical miracle.” Wozniak said he’s not a bitcoin investor per se, but “believes in it for the future.”