Discover the top news in crypto for the week!
You can now buy real estate with crypto without converting it to fiat currencies amid new regulations in Portugal. Meanwhile, the UK is outlining a new crypto strategy to boost adoption, while other countries, like Singapore, are following a similar path. Find out the top 5 crypto news of this week.
Warren Buffett-backed digital bank Nubank buys bitcoin, adds trading in app
Bitcoin’s institutional adoption continues despite the recent market performance. More companies across the globe are taking the opportunity and accumulating bitcoin. This week, NY-based Townsquare Media announced it purchased $5 million worth of bitcoin, given its potential. Meanwhile, Brazil-based Nubank announced it added 1 percent of its portfolio to bitcoin amid launching BTC trading on its app. Read more
NFT market well-positioned to grow 35 percent into a $13.6B industry by 2027
The current NFT market is around $3 billion, with new research estimating that it can grow to over $13 billion by 2027. NFTs are experiencing a tremendous surge, with major brands incorporating it. Recently, Meta’s Instagram announced a future integration for NFTs on Ethereum, Polygon, Solana, and Flow. The same research points out ‘mainstream influencers, gaming communities, and the rising demand for digital artworks’ as key factors behind NFT adoption. Read more
El Salvador buys the bitcoin dip, adding 500 coins to its balance sheet
Crypto markets are facing a correction, but big players are buying the dip. That’s El Salvador’s case, the bitcoin pioneer. Amid the recent dip, El Salvador’s president announced the purchase of an additional 500 coins worth over $15 million. The country is the largest governmental bitcoin adopter, having started to buy BTC for its balance sheet in September 2021. Read more
Apartment sold for bitcoin in Portugal after new regulation allows property deals in crypto
Portugal just registered its first apartment sale with bitcoin after new property regulations came into effect. The apartment in the city of Braga was sold for 3 BTC (around €110,000), with the buyer not needing to convert bitcoin to fiat. Recently, Portugal introduced new regulations for inventors who want to buy real estate with crypto with more background checks but with the possibility of not converting it to fiat. Read more
UK outlines plans to support crypto adoption, create more powers to seize and recover digital assets
The UK is expanding its efforts to boost crypto adoption as part of a larger plan to improve the economy while also working on new plans to recover digital assets. The UK is not alone in the pursuit of a crypto strategy, with countries like Singapore having the goal of becoming a global crypto hub. The EU, alongside the UK, is also going in the same direction regarding new regulations, increasing oversight on DeFi and crypto. Read mre
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