We won’t lie – the past week was a pretty sweet one for the market ??. Considering how things have been in the past few weeks, it’s nice to see coin prices looking up again.
But, the market never sleeps. And last week, there was a lot going on . We’ve got the gist ready to go, so strap in! ✈️
Tesla Taps Out ✌️
Last week, Tesla confirmed that it had sold off 75% of its Bitcoin stash for $936 million ?.
There’s a pretty long reason for this. This year, Tesla’s stock is down by 32% so far, and they needed to raise some money to keep operating smoothly ?. So, they decided to simply sell some BTC from their stash.
This is actually good news for Bitcoin. It has proven to be one of the easiest assets to work with. Unlike some other assets, Tesla was able to sell Bitcoin quickly and easily. Even you can buy and sell Bitcoin in a flash – just try vouchers on Quidax and see how easy it is! ?
The Merge Is Coming ⏳
If you’re an Ethereum investor, we’ve got news for you. Last week, Ethereum’s developers confirmed that the blockchain’s Ethereum 2.0 upgrade is coming in September ?️.
Etereum 2.0 will be the biggest upgrade ever for the blockchain. It will move Ethereum to proof-of-stake (PoS), and it could be a huge boost for ETH ?. What do you think about the coin’s chances of hitting a new all-time high soon?
Russia Says “Nyet” ?
Russia and the crypto industry have had a pretty rocky relationship so far. Last week, things got a bit worse when President Putin signed a law banning crypto’s use for payments ?♂️.
Now that the law has been passed, it’s illegal to pay for goods and services using crypto in Russia ?. I’m not sure what the Russian government has in mind, but it’s not looking good.
Where Does Your Country Rank? ?
The second quarter of the year is already over, so it’s time to take stock of which countries have done the most for crypto. Coinhub shared their rankings of the top countries by crypto adoption, and Germany and the United States are sharing the top spot ?. South Africa (28) was the top-ranked African country on the list, while Nigeria ranked in the 39th position. Not bad, right? ?
