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Experts share their views on bitcoin’s price,
Ukraine legalizes crypto
and MetaMask and Bored Apes both eyeing their own tokens.
These stories and more this week in crypto.
Hi, I’m Nate Martin from 99Bitcoins.com,
and here’s what’s happened this week in crypto.
In light of recent macroeconomic trends,
industry experts have shared their views on bitcoin’s future price.
Galaxy Digital CEO Mike Novogratz predicts
that BTC’s price is going to range between $30-50K this year,
but he expects a $500K bitcoin in the next five years
as “Bitcoin is going viral everywhere”.
Mike McGlone, senior commodity strategist at Bloomberg Intelligence
released a bullish report saying
it is unlikely for Bitcoin to stop outperforming gold and the stock market
amid the FED’s new rate-hike cycle”.
Apple co-founder Steve Wozniak said he “feels” Bitcoin is going to reach $100,000
based on all the interest crypto has.
And Arthur Hayes, former CEO of derivatives exchange BitMEX
warned investors that should Bitcoin take a more important role as store of value,
the price of BTC would ultimately soar to over a million dollars.
As millions in cryptocurrency donations continue to pour in,
Ukraine has passed a law to create a legal framework
for the cryptocurrency industry in the country.
The bill was signed into law by President Zelenskyy,
and will allow foreign and Ukrainian cryptocurrency exchanges
to operate legally.
The new legal status also extends to banks being given the green light
to allow crypto services to open accounts.
The most popular Web3 non-custodial browser, MetaMask
will be launching a token.
The team will also reportedly launch
a decentralized autonomous organization (DAO)
for funding the wallet’s growth.
MetaMask has seen tremendous growth as of late,
recently surpassing over 30 million monthly active users.
That’s an increase of over 40% since November
Tesla and SpaceX CEO, Elon Musk,
has revealed that his companies are seeing significant inflation pressure
in terms of “raw materials and logistics.”
Despite the current economic climate,
he is urging people to recognize the value in successful companies
that produce goods and services.
Musk confirmed his cryptocurrency holdings, saying
“I still own & won’t sell my bitcoin, ethereum or doge.”
Do Kwon, the founder of the top ten crypto, Terra,
has outlined plans to accumulate $10 billion worth of Bitcoin
to add to the project’s stablecoin reserves.
Terra is a decentralized blockchain platform
that specializes in stablecoin issuance.
Kwon said the Bitcoin reserves will open a new monetary era of the Bitcoin standard.
Business advisory giant PricewaterhouseCoopers
said that NFTs are set to become
critical pieces of the sports technology infrastructure in the future.
In a report titled 'Sports Outlook 2022'
they described three possible use cases for the assets -
collectibles, gameday and season tickets,
and as access tokens to virtual events.
ApeCoin, a token linked to the highly successful
Bored Ape Yacht Club NFT project,
was released to the open market this week and rose 90% on its second day of trading.
ApeCoin was airdropped to Bored Ape NFT holders
while those without an NFT could get involved by buying ApeCoin upon its launch.
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That’s what’s happened this week in crypto,
see you next week.
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