As bitcoin (BTC) soared over USD 55,000 this week, American politicians engaged in a high-stakes crypto pledge wars, while MicroStrategy raised over USD 1bn for its bitcoin purchases. The world’s largest asset manager, BlackRock, started “to dabble a bit’’ in bitcoin, even though Microsoft said it has no plan to follow in Tesla’s footsteps.
Amongst those who do have a bitcoin strategy was an unlikely duo of German Deutsche Bank and cannabis company SynBiotic, and PwC researchers found that the move also interests several Mexican companies. Lottery Giant 500.com acquired Bitcoin miner BTC.com, while more Chinese non-crypto firms entered Bitcoin and Ethereum mining. Despite the impressive run past USD 51,000, many overexuberant traders got burned as well, as USD 1.9 worth of crypto was liquidated in a day.
Last but not least, Elon Musk once again made headlines concerning Dogecoin ownership and whales, one of which is suspected to be Robinhood trading platform. Already defunct New Zealand cryptocurrency exchange Cryptopia got hacked once again, while Verge (XVG) cryptocurrency suffered yet another attack. Finally, Cardano’s Charles Hoskinson doubled-down on his criticisms of Ethereum, stating that concepts like ‘’the network effect’’ do not exist.
It’s only natural that such a fruitful week has left us with yet another sweet collection of crypto memes.