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Crypto News Today #45

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Bitcoin price kept surging this week and the crypto shillers have started coming out of the woodworks.  

We have seen the gurus who went into hibernation during the Crypto winter are all coming out now with their shill bags.  Please be weary of these shillers or you will lose your shirts.

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MicroStrategy converts $250 Million fiat reserves into Bitcoin reserves

Microstrategy’s stock shot up by $100 Million dollars on the welcoming news that the company after much deliberation and research has converted $250 Million worth of USD into Bitcoin reserve.  The company thinks that Bitcoin is a better hedge in the face of what is going on with the fiats around the world. This marks a new era in Bitcoin adoption as big enterprises are looking for ways to hedge the potential fall of the USD (even if short-term). 

Coinbase to introduce borrowing feature

coinbase best exchangeCoinbase customers can soon be able to take up to 30% of their bitcoin holdings as a loan.  This collateral based loan will mark the entry (albeit silent) of Coinbase into crypto lending (and by that token into DeFi).  This move is going to further cement the revenue streams for Coinbase which is rumored to be preparing for an IPO.  Coinbase has opened the Waitlist for individuals to take advantage of this feature as soon as it is available.

USPS files patent for blockchain based voting system

USPS has filed for a patent for a blockchain based voting system.  The patent documents reveal the details: “A voting system can use the security of blockchain and the mail to provide a reliable voting system. A registered voter receives a computer-readable code in the mail and confirms identity and confirms correct ballot information in an election. The system separates voter identification and votes to ensure vote anonymity, and stores votes on a distributed ledger in a blockchain.” 

Ex-CEO of Prudential votes for Bitcoin

Mainstream adoption is in the works for Bitcoin. A Bitcoin and Blockchain opponent (in his own words), George Ball, Ex-CEO of Prudential has opined that the future of Bitcoin is bright and people will start jumping into bitcoin after the labor day weekend.  

https://www.reuters.com/video/watch/idRCV008LQI

In the video interview posted by Reuters, Ex-CEO of Prudential says “I have been a big blockchain and crypto opponent…,” George clarifies before saying “Bitcoin can be a long term safe-haven or a short-term speculative asset”.

Rumors of Big Mac Coin are afloat

On a lighter note, a Reddit posted purportedly by a McDonald employee is making rounds on Reddit.  The Reddit post claims that “We received a box of these special coins. If you have one of the coins, you can exchange it for a Big Mac.”  Reddit did not miss a beat on the post and users started commenting as to why Big Mac coin is better than USD.   One user, r/amluchon quipped “What if the supply of BigMac coins exceeds the actual number of BigMacs available? You really can’t prevent fractional restaurant reservation banking. Suddenly your BigMac coin is only worth a nugget.”

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