The most important crypto news of the week
Steve Wozniak is establishing a block chain-based platform, China is testing the E-Yuan, Microstrategy is looking to buy new Bitcoin and JPMorgan sees Bitcoin as a serious competitor to Gold. The top crypto news of the week.
Another exciting week in crypto space is drawing to a close. A compact overview of the most important events around Bitcoin and Co.
Apple co-founder Steve Wozniak founded „Efforce“. The platform, based on block chain technology, aims to fundamentally change the energy efficiency market by securitising energy projects. The aim is to make access to energy projects easier for everyone. To this end, the company launched the WOZX token by Bitcoin Up on the stock exchange, whose value immediately went through the roof. Starting at 0.1 US dollars, the price jumped to 2.88 US dollars in a very short time. The token thus recorded an increase of 2,800 percent.
China mixes E-Yuan among the people
A CBDC raffle in the Chinese city of Suzhou ended on 11 December. The citizens of the city had the chance to win 100,000 packages with 200 digital yuan each. Now citizens can spend the currency at the upcoming „Double12“ festival until 27 December. Many shops in the city have already announced that they will accept the e-yuan. One such shop is e-commerce giant JD.com. China has long been testing the introduction of a digital currency. Previously, similar tests had been conducted in the city of Shenzhen.
Microstrategy wants to buy more Bitcoin
The American software manufacturer Microstrategy has once again announced its intention to buy Bitcoin. This is stated in a press release of 7 December. The IT company plans to invest 400 million US dollars. The money is to come from the sale of senior convertible notes to institutional investors. The share price of Microstrategy (MSTR) benefited from the announcement and rose rapidly by 2.5 percent. So far, the US service provider’s strategy of using Bitcoin as its main reserve asset is paying off. In particular, the Bitcoin rally of the past weeks has catapulted Microstrategy’s enterprise value.
JPMorgan sees Bitcoin as a serious competitor to gold
JPMorgan believes that the acceptance of Bitcoin and other crypto currencies by the mainstream financial industry will hurt gold. Just a few weeks ago, JPMorgan attested Bitcoin a bright future and since October, Bitcoin funds have seen huge capital inflows from institutional investors. According to JPMorgan’s quantitative strategist Nikolaos Panigirtzoglou, this trend will continue in the long term and more and more institutions will invest in digital gold. This makes JPMorgan one of the few Wall Street banks to forecast a major shift from gold to crypto currencies.
Airbnb goes public
The Californian accommodation platform Airbnb made its stock market debut on the evening of 9 December. At the time of going to press, the share price was just under 150 US dollars (124 euros). Despite the enormous losses in turnover in the tourism industry, the company decided to go public after several postponements. The issue price was 68 US dollars. In its IPO application, the company also made a positive statement about a possible implementation of crypto currencies. It would therefore hardly be surprising if the company would at least allow the industry leader Bitcoin as a means of payment.