After the FED made a statement, the crypto market went up. Tesla will accept Dogecoin, and you can give crypto as a gift this holiday season. These crypto updates and more are in this week’s crypto updates.
After the FED made a statement, the crypto market briefly rose but fell back down again.
Immediately after the Federal Reserve said it would speed up the process of cutting back on asset purchases, crypto prices rose for a short time. This could have been because traders were worried about an even more aggressive policy change.
Jerome Powell, the head of the Federal Reserve, said that he is not worried about crypto from a financial stability point of view. However, he also said that he thinks stablecoins could be helpful if properly regulated.
Elon Musk Moves Dogecoin Price
The price of Dogecoin rose by 28% in an hour after a tweet from Elon Musk said that Tesla would accept Dogecoin for merchandise.
The news came just one day after Time Magazine named Elon Musk its Person of the Year. Musk said that Dogecoin is better for transactions than bitcoin.
For more information on dogecoin, you can look into our articles right here:
90% of Bitcoins have been mined.
As of last week, 90% of all bitcoins have been mined, so some are still left. However, coins from the maximum supply of 21 million are now used. 18.9 million of them are currently in use. The first milestone was reached just 12 years after the first bitcoins were mined. However, because of the bitcoin halving schedule, it will be another 100 years before the rest of the bitcoins can be mined.
The governor of Florida wants to use crypto payments.
People in the state of Florida will be able to pay their taxes and other fees with crypto through a new department that will be set up. This is what the governor of the state, Ron DeSantis, said.
He said that he wants Florida to be a place where people can do business with cryptocurrencies, which he thinks will help the state grow economically down the road.
The mayor of Miami switched his 401(k) to crypto.
Francis Suarez, the mayor of Miami, said that he plans to put some of his 401k money in Bitcoin.
A public advocate for bitcoin has been Mayor Suarez this year. Suarez is working to make it possible for the city’s municipal workers to be paid in bitcoin.
Kraken wants to build an NFT marketplace.
The crypto exchange Kraken has said that soon, it will be able to accept non-fungible tokens. This will give investors a chance to invest in the growing NFT market.
Not all of Kraken’s NFT services are known, but it will help move some NFT activity off the blockchain, which will help keep both minting and transaction fees low for both NFTs and other coins.
Amazon has bought a stake in NFT Collectibles from the company.
Recently, Amazon bought a sports trading card market called Dibbs. The platform lets people list collectible trading cards and then mint them into NFTs that can be bought and sold in small amounts on the Wax blockchain. This is how much Amazon has invested, but how much money they have isn’t clear.
Millennial Millionaires Heavily Invest in Crypto
A new CNBC survey found that 83 percent of millennial millionaires have much money in crypto and plan to keep investing in crypto in 2022.
This is very different from the baby boomer millionaires who were surveyed. Only 4% of them own any cryptocurrency.
Christmas is coming, and you can give cryptocurrency as a gift.
If you want to give someone the gift of crypto this holiday season, you can do it through Coinbase’s digital gifting service. Your unique gift is sent through the digital card with the crypto of your choice and an NFT-themed piece of art by a tan up-and-coming artist. But, of course, because the best gift is one they can keep for longer-term/HODL.
Conclusion on this week Crypto Updates
That’s what happened this week in crypto. We’ll see you next week. Thanks for coming by. To ensure you don’t miss a review or news update about Bitcoin or cryptocurrencies, sign up for our cryptocurrencysimple.com newsletter. Happy Holidays to you, too, Mom!