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Bitcoin Banned in Turkey | This Week in Crypto – Apr 19, 2021

Turkey bans cryptocurrencies, the Rothschilds are betting on cryptos and are the Simpsons predicting Bitcoin’s price? These stories and more, this week in crypto.

Bitcoin reached a new all-time high around $65000 along with thriving altcoins. Ethereum and Binance Coin both up by double digits, Ripple spiked by 60%, but the show was stolen by the one and only meme coin – DOGE, which exploded over 500% this week.

The price of bitcoin descended from record highs following a decision by Turkey’s central bank to ban cryptocurrencies.  The central bank said the ban was motivated by a lack of central authority regulation and that payments could undermine the confidence in current payment methods.

Coinbase, one of the largest cryptocurrency exchanges in the world—has officially gone public, when the exchange began trading on the Nasdaq on April 14. The share price shot to over $400 on the first day, briefly giving Coinbase a valuation of more than $110 billion.

Crypto bull firm, MicroStrategy says board directors will now receive their salaries in bitcoin rather than cash. The company issued a statement claiming that the move is all part of its ongoing “commitment to bitcoin.”

HSBC—one of the U.S.’s largest banks—is preventing its customers from buying stocks in companies deeply tied to bitcoin and other cryptocurrencies. While customers who have already purchased MicroStrategy shares in the bank may continue to store their shares with HSBC, future buys will not be permitted.

Rothschild Investment purchased almost $5 million in Grayscale Ethereum Trust Shares, a SEC filing revealed. The investment adds to an existing portfolio of the Grayscale Bitcoin Trust that the Rothschild Investment firm holds, but this is the first time the firm has invested in Ethereum.

TIME Magazine has partnered with Grayscale to create a new educational crypto video series this summer. TIME has agreed to be paid in Bitcoin for the project, and the company will continue to hold BTC on its balance sheet – taking their example from Tesla and MicroStrategy.

Galaxy Digital—a hedge fund run by billionaire investor Mike Novogratz—has become the ninth company to apply for a bitcoin ETF with the Securities and Exchange Commission. The firm is looking to have the product trade on the New York Stock Exchange and is already an advisor to one of Canada’s crypto ETFs.

$6 billion worth of gold will be used to back a new stablecoin project called DIGau, a crypto token supported and tied to the precious metal. The project was founded by NYC real estate mogul, Kent Swig who decided to enter the industry after learning about it from his teenage son.

A new episode of the popular The Simpsons TV Show is all-around bitcoin and stock trading hints. The Simpson’s bitcoin price prediction showed that bitcoin will go to infinity along with GameStop shares fluctuating heavily in the future. The episode also poked fun at Tesla’s high price explaining, “If you have to ask, you can’t afford it.”

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