Daily Crypto NewsEDITION #180, 25 March 2021

Nikola Tesla would be happy

Hey #Moni Maker 👍

Today, in 1997, treasure hunters discovered the Spanish galleon La Capitana, sunk in 1654 off the coast of Ecuador with a cargo of gold and silver. This is, perhaps, the only superiority of precious metals over crypto - treasure hunters can’t benefit from crypto HODLers’ boating accidents. The moral is simple: keep your private keys away from water reservoirs and don't forget about backups!

Buying Tesla with BTC will be available outside the U.S. later this year.

Tesla uses only internal open-source software and operates directly on the Bitcoin network nodes.

The BTC paid by Tesla will be saved, not converted to fiat currency.

So what?

Paid for Tesla with Bitcoin, ordered burgers made from 3D printer-grown meat through UberEats, paying with Stablecoins. Ah, Cyberpunk!

In fact, a clever move: Tesla invests without investing. Musk is a smart guy.

The bank has filed paperwork with the SEC for an ETF that "may have access to cryptocurrency."

But this news is not as bullish as you could think.

The documents indicate that the access to cryptocurrency will be indirect, for example through trusts like Greyscale - companies that invest in crypto like Microstrategy or mining companies. Or Coinbase, which goes on the Nasdaq.

Direct purchase of Bitcoin or customer access to it is out of the question.

So what?

So, a banker enters a Telegram cryptocurrency chat room and writes: "Hello, fellow kids!”

In March 2020, Tether had a market capitalization of $4 billion only, and just one year later it is already 40. Thus, in one year, the capitalization of the largest stabelcoin increased 10 times.

Typically, crypto investors use stablecoins to minimize risk and fix profits. This recent growth in the stablecoins popularity may be due to the large number of new investors coming to the market.

— Elrond has launched a $5,000 contest;

— Binance has launched trading of perpetual DENT/USDT futures contracts with up to 25x leverage today at 07:00 Kiev 08:00 Moscow time.

And you...buy Bitcoin!