Crypto News: Bitcoin ETF 2021, Gold, or Tesla? NFT Tezos News

Crypto News: Bitcoin ETF 2021, Gold, or Tesla? NFT Tezos News
5 min read
27 March 2021

This week it’s all about the big players. We  don’t just mean the big players in crypto,   we mean the biggest financial  juggernaut this planet has ever seen Jerome Powell, chair of the Federal Reserve  has dropped a crypto bombshell and Fidelity,   one of the largest financial institutions in  the world, is taking a crack at a Bitcoin ETF.,   and for you NFT fans Tezos is setting  sail and just what can you buy   with your crypto?

Jerome Powell, head of the  United States Federal Reserve,   briefly mentioned Bitcoin this week. And I quote,  “More a speculative asset. It's  essentially a substitute for   gold rather than for the dollar. The most influential monetary policymaker in the United States has compared Bitcoin   to gold. You’ll notice that he didn’t call  Bitcoin rat poison squared. He didn’t say   it’s a fraud, a ponzi scheme or outright  worthless.We’re really making some progress here! 

However, Jerome did go on to say  that cryptocurrencies are volatile   and not backed by anything. Interesting point,  Jerome, but have you looked at the dollar lately?  It’s backed by, uhhhhhh, what is it??? Oh yeah!  $27 trillion dollars of unpayable  debt. You’ve got to wonder,   would you rather hold a fiat currency “backed”  by tens of trillions of debt, or a cryptocurrency   backed by nothing? Now that’s a question  that we wish someone had asked Mr. Powell. 

The SEC is where Bitcoin  ETF applications go to die. That being said, if ever there was  an ETF that gets approved it could   be the Fidelity application.  Here are four reasons why.  Fidelity is one of the largest and most  trusted financial institutions in the   world. They have awesome name recognition 
 Fidelity has their own custody service.   Having a way to safely custody a  commodity, whether it’s gold or BTC,   is an important part of getting an ETF approved 
 Gary Gensler is the new head of the SEC.  

Before getting into government work he  taught a course on blockchain technology   and cryptocurrencies at MIT. Given  his background we’re all crossing   our fingers that Gary is going to take  a more positive approach to crypto 
  And finally, Canada approved a Bitcoin  ETF last month and Brazil just announced   that they’ll be doing the same 

Not to get too elevated on hopium,   but if there was ever a time for the  SEC to approve a Bitcoin ETF application   it could be now.

NFTs aren’t just for Etherians anymore!  The Tezos network is dipping their toes   in the water. OpenSea, the largest NFT marketplace  in the world, is going to start supporting the   Tezos NFT standard. 

This will provide a much-needed alternative for artists who are paying   exuberant gas fees to mint NFTs and  allow a  whole new cohort of investors to get involved with   Tezos NFTs.

Hopefully it will also encourage  new artists to build on Tezos since they’ll be   able to sell their artwork on the most  liquid NFT marketplace in the world. 

You’ve heard the names before…  The Barclays center, Wrigley  field and MetLife Stadium,   just to name a few. What you  won’t find on that list is a   stadium of any consequence that’s named after  a cryptocurrency or a cryptocurrency company.  I can’t wait for the day when I  can catch a game at Bitcoin field,   but FTX stadium is a step in  the right direction at least. 

The cryptocurrency exchange FTX is reportedly  planning to buy the naming rights to the Miami   Heat stadium. Currently the building  is known as the AmericanAirlines Arena,   but if the deal goes through the  name is going to get a lot shorter.  FTX stadium? FTX arena? The FTX sports zone?  Whatever they end up calling it, this will be  another milestone in cryptocurrency history.   FTX will reportedly pay $90 million over the  course of 19 years for the naming rights. Congrats Sam Bankman-Fried  and the entire FTX team!   

A few months ago we said that Tesla  had bought $1.5 billion worth of BTC   and that they were planning to accept  BTC payments for their cars. Well,   the day has finally come and there’s now  a BTC payment option on the website.   Think it’s just a publicity stunt? Guess again.  Tesla has said that when people pay in Bitcoin   they’re going to keep the BTC on their balance  sheet instead of converting it to dollars.   That’s some Michael Saylor level conviction  right there, kudos to you Tesla! 

What   Else can you buy with your crypto? We’re way  beyond Alpaca socks and Pizza at this point.   Real estate, software, and if  you have a a crypto debit card.   We’ll the sky is the limit. Literally.  Book your next vacay and fly there.

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Alex 9.7K
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