One Bitcoin could buy a Lambo this year, and a Bugatti next year, VISA will begin using stablecoins, and mining Bitcoin with an old Game Boy? These stories and more, this week in crypto.
Jesse Powell, the CEO of the US cryptocurrency exchange, Kraken offered a vehicle-related price prediction for Bitcoin. The Kraken CEO said that 1 BTC currently equals the price of a Tesla Model 3, however, he expects one BTC to be able to buy a Lamborghini this year and next year a Bugatti. For reference, the cheapest Lamborghini costs $180,000 while a Bugatti is priced at almost $3 million dollars.
Visa announced that payment settlements will soon be done using USDC Coin, an Ethereum based stablecoin that is pegged to the US Dollar. The news was well-received by industry analysts and has caused heavy spikes in the prices of both Bitcoin and Ethereum.
After delaying its public listing from March to April, the leading US-based cryptocurrency exchange, Coinbase, has provided an exact date for the listing of its Class A common stock on the Nasdaq. The IPO will launch on April 14th and Coinbase will be listed under the ticker symbol COIN.
Finance giant Goldman Sachs says it’s hoping to offer crypto investment opportunities to its wealthiest clients by the second quarter of this year. The firm says its customers have shown a growing interest in digital assets so the bank is preparing to offer a “full-spectrum” of digital asset investments, including the tokens themselves, as well as derivatives and traditional investment vehicles.
In its ongoing effort to create the ultimate crypto payment platform, PayPal is now permitting people to purchase goods with bitcoin. Along with Bitcoin, the company’s 29 million users will also be able to pay for items using Bitcoin Cash, Ethereum and Litecoin in the coming months.
Institutional crypto trading platform Bakkt unveiled a new wallet that consolidates all of a user’s digital assets into one account, providing them with easy and quick access. The wallet is not just limited to cryptocurrencies, though: customers can also store rewards points, gift cards and even frequent flyer miles with the product.
Popular restaurant chain Chipotle announced a $100,000 Bitcoin giveaway in honor of National Burrito Day. Participants had the chance to enter through their website by guessing a six-digit code. The three people with the closest guesses would each win $25K in Bitcoin, while 50 others would take home $500 in BTC.
A YouTuber has converted an old Game Boy console into a bitcoin miner. As the product was developed in the late 1980s, the Game Boy needs some technical assistance to run a bitcoin node but eventually, it can mine digital assets.
That’s what’s happened this week in crypto. See you next week.