Miami Mayor Wants to Pay Employees in Bitcoin

In a recent interview with Bloomberg, Miami mayor, Francis Suarez, admitted that he wants to pay government employees in Bitcoin. However, regarding the use of cryptocurrencies, he said: “We have to differentiate ourselves as a crypto capital of the United States or of the world.” Earlier this year, Miami introduced a proposal to allow the city’s authorities to invest in Bitcoin. However, the proposal has been stalling since February because Florida doesn't allow investments in volatile assets. Next, Suarez added:…

Jack Mallers Launches “Pay Me In Bitcoin” Service On Strike

Jack Mallers, CEO of Zap Solutions, has developed a new service to streamline the investment process for Bitcoin HODLers. Strike users of his custodial wallet can now opt to convert some or all of their future income into Bitcoin. Mallers explained how this feature works, as well as what makes it so important to society. Mallers: “Pay Me in Bitcoin” is For Savers Jack Mallers announced Strike’s new feature in a blog post earlier today. As the post reads, users…

El Salvador Officially Makes BTC a Legal Tender As the Crypto World Watches Anxiously  

El Salvador is officially the first country to adopt bitcoin as legal tender. The president, Nayib Bukele, commented that the move would see the majority of its citizens access bank services for the first time. Besides, it will save over $400 million in fees on remittances sent home from overseas. Last year alone, remittances to El Salvador came to close to $600 billion. It represents about 23% of its total gross domestic product. It makes it one of the highest…

How Bitcoin Adoption Differs from Most Innovations in History

The fourth industrial revolution has come with consistent growth and adoption of technology in different fields of life. Amidst all this, the most extensive innovation of our century, Bitcoin, also surfaced on the financial markets over ten years ago. Bitcoin is burgeoning. A decade since its inception, the average daily trading of cryptocurrencies has exceeded 1% of trading in Foreign exchange markets. It’s currently the most significant market globally by trading volume. Bitcoin transactions alone have grown by almost 60%…

El Salvador’s Passes the Bill to Take up BTC as a Legal Tender

The Salvadorian Congress garnered 62 out of 84 votes on Wednesday morning to become the first country to recognize bitcoin as a legal tender officially. President Nayib Bukele, who proposed the bill approved by Congress, is set to sign it later today. Making History According to El Salvador'sSalvador's proposed bill, its citizens can now pay bills and taxes in bitcoin. Exchanges within the country's borderline will not be subject to profit tax. Article 7 of the bill states that businesses…

El Salvador’s President Confident Bitcoin Adoption Will Attract Investors

El Salvador's President Nayib Bukele has announced plans for his country to adopt Bitcoin (BTC) as the legal tender. Furthermore, the President affirmed that he would send a bill to the Senate seeking to make BTC the country’s legal means of exchange.  Mr. Bukele’s party and allies hold a majority of 56 out of the total 84 seats in the Senate. Analysts, therefore, suggest that the bill will likely pass. BTC, El Salvador's Optimistic Future  Speaking at the Bitcoin 2021…

Rothschild Corp Invests in Grayscale Bitcoin Trust

According to rumors on Twitter, Rothschild Investment Corp has invested in Grayscale Bitcoin Trust. The investment firm has bought 235,000 shares of GBTC worth $235,000. Although this is not the first time, the investment firm has already bought shares of GBTC earlier in 2017, which was worth $210,00 at that time. The value of GBTC shares is pegged on Bitcoin's price. [caption id="attachment_17109" align="aligncenter" width="828"] Source: Twitter.com[/caption] Grayscale Bitcoin Trust Debuted as Bitcoin Investment Fund in Sept 2013, Grayscale Bitcoin…

Roadblocks to Large Scale Bitcoin Adoption in 2020

A lot has transpired since the world first learned about Bitcoin in 2009. This revolutionary protocol introduced entire industries to the idea of decentralized currencies and blockchain technology. In less than ten years, the blockchain sector has achieved billions in value, with much more yet to come.  There are thousands of cryptocurrencies available to investors currently. Each of these concepts is unique and provides an essential perspective on the market. Notably, all of these projects owe a nod of respect…

Increase in Bitcoin Adoption and Possible Reduction of Bureaucratic Friction in Developing Economies

Several cryptocurrency market participants are clamoring for greater adoption. This is because it will promote the philosophy of cryptocurrencies worldwide. Recently, authorities worldwide took steps to regulate cryptos thereby clearing the way for more adoption. Bitcoin is gaining traction in developing countries worldwide even as numerous individuals consider the leading cryptocurrency as an investment vehicle. Continents that appear to be at the center of the fresh sway of adoption for Bitcoin include Latin America, Africa and Asia. Matt Ahlborg featured…

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