Here’s what happened this week in Bitcoin in 99 seconds.
Twitter and Square CEO, Jack Dorsey stated that “Bitcoin will become the world’s single currency in 10 years or fewer”. Dorsey and the companies he heads have reflected positive sentiments on Bitcoin in the past – with the full roll-out of bitcoin purchases on the Square Cash app.
The new head of China’s central bank (PBoC), Yi Gang, has stated that “Bitcoin is a currency that provides freedom to anyone that uses it”. Although these statements were issued in 2013, when Yi Gang was the Head of State Administration of Foreign Exchange, having the PBoC operating under Yi Gang’s leadership could spell a change in policy for China’s fairly strict approach to cryptocurrency up until now.
In a series of Medium posts, CoinMarketCap – the Number 1 website in the crypto-currency industry, is accused of showing massively fraudulent and scam information (on purpose) to its users. Allegations also claim that there is massive insider trading going on with the employees, owners, and others involved with CoinMarketCap.
Finally, G20 Argentina concluded that calls for a “clampdown on Bitcoin” from the Bank for International Settlements (BIS) and finance ministers from France and Germany are currently unwarranted. France and Germany, as well as the BIS, are represented in and fall under the G20’s jurisdiction, and they have been effectively overruled with the conclusion.
A special thanks to 21mil’s Cryptoinsider for this week’s news summary. That’s what happened this week in Bitcoin. See you next week.