Bitcoin: How the Last Week Treated the Digital Coin?

When November 2021 started, we saw Bitcoin returning to its form. First, it was seen slightly soaring, and then it did witness a good surge when it came. Yet, it is not seen picking up to the next leg as seen in the current bull-run. One can find the recent dip as seen in many big size BTC holders accumulating a good number of coins. On the other hand, we see many large firms holding the coins with the help of mining.

Interestingly, we have seen many things happening in favour of Bitcoin this week. This week, the reports suggest that many top banks in the US are now looking forward to experimenting with Bitcoin. They are now talking about offering people several BTC backed loans. One of the examples comes from Korea based Exchange having its branches in several nations, including the US. This showcases the interest in Bitcoin. 

The MicroStrategy Move This Monday 

Many reports suggest that this week started on a slow note. You can know more about digital currencies and explore it. Now talking about the first day, we saw Thailand revealing the plans that are seen waiving off the taxes over Cryptocurrency for tourists in the nation. On the other side, Twitter CEO has been a Bitcoin supporter, and his resignation made many feel that he has quit only to focus on the digital coin. He has said earlier if he was not on Twitter or Square, he could have remained with Bitcoin. The same day we saw the company MicroStrategy and El Salvador that seemed to be taking a dip in Bitcoin investment. The former procured yet another massive chunk of BTC, reported around 7K of Bitcoins. It made the company now hold around 121K of coins. Now talking about the latter, the nation procured 100 BTCs. It makes the country hold a total of the BTCs of around 1220. We also the year the company launched their first bitcoin-based Exchange.

The Tuesday Talk – ETF 

This Tuesday was somewhat different when we compared it with earlier ones. This day witnessed a little bit of good in perspective of the market rather than the idea of investment. Purpose Investment is coming up with their first even Bitcoin-based Exchange that offers good monthly revenues in Canada. Also, we heard the top man from the FR called J Powel also talking about inflation and how it is rising in the US. He said it is likely to push more and more people into Bitcoin investment. He ended up saying that Bitcoin remains the best hedge when we compare it against inflation. 

Wednesday Brings Back the Retailer Adoption 

As the US government did not nod to several digital currency exchange spots earlier, we see companies like Fidelity now announcing their ETF in Canada. However, it is pending approval in Canada. We have seen Croatia remains the most prominent retailer, and one can see the most significant retail group called Konzum announcing Bitcoin. It claimed that the company will now accept Bitcoin as a payment option from its clients for their online business. On the other hand, we have J Dorsey from Square announcing that they would soon rebrand to Block Inc. Also, they announced that their Bitcoin organ known as Square Crypto, will be soon come up with a new name – Spiral. The company would soon focus on Blockchain technology and have even announced their payment application called CashApp. It will now be going to support all the latest updates of Bitcoin.

The Thursday – Theme Regulations 

Facebook was seen announcing why they would lose the license and ad limitations over different companies promoting Bitcoin exchanges and the wallets. It seemed to have signalled the market’s overall sentiments moving around Bitcoin.

Friday – Freedom Based Loans 

The early hours of Friday reported that the companies like Goldman Sachs and the banks based in Wall Street are now looking for exploring the different possibilities that offered Bitcoin backed loans. It simply means that the individuals are now working on converting the loans that offer Bitcoin like a collateral thing. The companies like Bitcoin miner and the group R Blockchain seemed to have mined around 466 Bitcoin last November, and they now plan to hold it.