Nation States Adopting Bitcoin Price

Last Week In Bitcoin is a series discussing the events of the previous week that occurred in the Bitcoin industry, covering all the important news and analysis.

Summary of the Week

Last week El Salvador’s official bitcoin rollout began, then Ukraine decided to jump on the bitcoin bandwagon. This week, Laos joined the fray with plans to allow bitcoin mining and trading in the Asian nation, just months after China’s crackdown on crypto.

It would appear as if every week a new country is jumping on the bitcoin bandwagon, billionaires continue to blow the bitcoin bullhorn and the plebs like you and me keep stacking sats. Here’s this week in bitcoin:

Bullish News

The week started off on a good note as Nayib Bukele, El Salvador’s president, announced their bitcoin-friendly drive continues as the country would exempt foreign investors from paying taxes on their bitcoin gains.

Not to let El Salvador take all the glory, MicroStrategy CEO and bitcoin messiah, Michael Saylor, announced on Monday that the firm had acquired an additional 5,050 BTC, bringing the company’s total holdings to 114,042 BTC bought at an average price of $27,713 per bitcoin.

Also on Monday, Professor Mthuli Ncube, the minister of finance in Zimbabwe, said that the country would explore bitcoin adoption in order to cut back on remittance costs and stabilize the country’s economy which has been gutted over the last two decades. Brevan Howard, a $11.4 billion hedge fund, became the latest financial institution to start a bitcoin division, signalling more bullishness from traditional finance.

Source link Bitcoin Magazine

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