Bitcoin pumps
This past couple of days Bitcoin reached over
$60,000 a coin breaking all time highs. I am sure
those who have held and acquired Bitcoin through the
crash have a lot to celebrate with the current pump of
Bitcoin. At one point Bitcoin hit as low as $40,000.
Some analyst who specialize in watching the market
believe that at the close of the month it may hit over
$63,000.
Bitcoin ETF (Exchange traded fund)
In more Bitcoin news, Bitcoin is now tradable
on the U.S. stock exchanges as an ETF, which will
track the price of Bitcoin futures traded. This ETF
mimics the price of the digital currency; allowing
investors to buy into the ETF without trading Bitcoin
itself. This eliminates concerns investors have held in
regards to Bitcoin being unregulated, which will more
than likely add to the price pump of Bitcoin as new
investors put their money behind the coin directly
using a cryptocurrency exchange or indirectly through
a Bitcoin ETF. In the past, usually when a commodity
is paired with a U.S. ETF, the price of that commodity
sky rockets. For example, back in 2004 of November
when the first gold ETF was launched the price was
just over $400, by 2008 it reach nearly a $1000 and
by 2011 the price was at $1800. Basically after the
Gold ETF was launched, gold went into a 7 year bull
cycle. Without getting into all the math and detailing
percentage increases, I will just express the most
positive projection out of all experts is that Bitcoin will
hit $1,000,000. And if this manifest you can be sure
that the top alternative coins will increase in value,
right behind Bitcoin.
Russia accepts crypto
Russia’s Putin says crypto has value, he believes it is
important, but that it may not be for trading oil. He
says he ultimately accepts crypto’s role for accepting
payments. This eliminates any talks or concern that
Russia may ban crypto. Russia may not use it in all
aspects of day to day life but they will use it. Also, the
U.S. recently has stated they will not ban crypto. This
is major news for the crypto community. Russia and
the U.S. are two of the biggest countries and are
major forces in the world’s commercial activity.
Twitter allows tipping of Bitcoin
Twitter recently added a new feature to their platforms
that allows users to tip their most favored content
providers with Bitcoin. This opens the door for
influencers to earn money from anywhere. This is
another sign that the world of big corporations are
starting to understand that crypto is here to stay.
Although the idea of tipping with Bitcoin is moving
slowly the fact that the big corporations are
incorporating the idea is a major step in the right
direction.
NFTs THE FUTURE OF GAMING?
In a recent zoom conference Stephan Zang
co – founder of the on – chain social app UTU.one
how NFTs will become the fundamental building
blocks of the future of web3 (decentralized apps that
run on the blockchain). I was more fascinated with the
example he used. His example was Loot. ( Loot is an
NFT that is created with a unique list of items that you
can keep in the same wallet such as cryptocurriences
or other digital collectibles.) Using Loot , you will
eventually have an ecosystem of game storylines,
characters, maps, and items on the blockchain as
NFTs that according to the outlook of Stephan Zang,
will eliminate the need of traditional top – to – bottom
game development. If this becomes a reality , game
developers will also not have to worry about acquiring
players because they are there before the game is
even built. This community is already being built
indirectly on the Blockchain by holders of Loot NFTs.
These NFTs have grown incredibly popular, with over
$230,000,000 in Loot sold to date. When you receive
Loot you are free to use it how you choose. With the
data from the Loot NFT they are able to build games,
avatars, storylines, or even an entire metaverse on
top of the NFTs. As the community of Loot holders
grow, so does the value of Loot. And this may be the
reason why NFTs will be the future of gaming.
