The second week of 2020 provided a lot of exciting information from the world of cryptocurrency. Bitcoin showed a 10 percent gain on the week and was valued at $8,160 Saturday evening. Other Altcoins have shown similar increases in value.
Additionally, a number of stories have been published that have the potential to impact the cryptocurrency space over the long term.
Elon Musk Mentions Bitcoin on twitter
Tesla and SpaceX CEO Elon Musk joked on Twitter that Bitcoin is not his “safe word.” The statement went viral despite the fact that Twitter followers of Musk cannot be sure exactly what the statement meant.
It is not the first time Musk has made a statement in jest on Twitter regarding cryptocurrency. Musk joked last April Fool’s Day that he was the CEO of Dogecoin.
Japanese Companies Decides to Mine Cryptocurrency
Reports out of Tokyo is that SBI Holdings GMO Internet has both been involved with the mining of cryptocurrency for some time now. Additionally, both companies have entered recent agreements with Whinstone Inc., a Bitcoin AG subsidiary that has agreed to allow the companies to use their Rockdale, Texas facilities for Bitcoin mining. Northern Bitcoin, the parent company of Whitstone, says their Rockdale facility is expected to produce a record 1 gigawatt of Bitcoin and other cryptocurrencies in 2020.
Large Tech Company in China Prepares Cryptocurrency Release
Baidu is a Japanese company that is considered the Google of China. Baidu released a beta version of its own cryptocurrency that will be known as Xuperchain. The cryptocurrency is intended mostly for small businesses to strengthen their operations.
Launch Near for Bitcoin CME Options
A launch by CME is planned for Monday, January 13 that will include a derivative market for Bitcoin options. Analysts say the options will provide large institutions with the ability to hedge risk while investing in the market.
NBA Player Chooses Ethereum
Spencer Dinwiddie is the Brooklyn Nets Player who is entering a partnership with Securitize that will result in a blockchain-based bond being released in his image on the Ethereum network.
