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Visa Sees Bitcoin as Digital Gold | This Week in Crypto – May 3, 2021

Tesla selling Bitcoin, Visa seeing Bitcoin as digital gold and 10 years have passed since we’ve last heard from Satoshi These stories and more, this week in crypto.

In an earnings call, Tesla stated that it sold $272 million worth of bitcoin in the first quarter which represented 10% of its holdings. The idea behind the move was to prove the market’s liquidity, and they’ve taken a definitive stance that they are overall bullish on Bitcoin for the long run.

The world’s leading payment processor, Visa wants to push the boundaries between legacy finance and crypto. During Visa’s earnings call, the company CEO said they consider Bitcoin to be digital gold and will work hard to integrate crypto into its infrastructure with direct cryptocurrency purchases, conversions and stablecoin settlements.

Vebitcoin—a cryptocurrency exchange based in Turkey—has gone completely offline. The company has claimed financial hardship as the reason for ceasing all activity as well as having lost all access to all of its traditional bank accounts. Just a few days earlier, another crypto trading platform in Turkey, Thodex allegedly closed for the same reasons.

Venture capital firm Andreessen Horowitz is planning to launch a new crypto fund. The VC will put between $800 million and $1 billion toward crypto and crypto startups. It will be the company’s third crypto fund, riding high in the wake of the success of their most prominent investment, the direct listing of Coinbase.

Japanese online game provider Nexon bought $100 million worth of Bitcoin, joining a list of exchange listed tech companies embracing the digital currency. The purchase represents less than 2% of Nexon’s total cash and the company said it reflects a disciplined strategy for protecting shareholder value and for maintaining the purchasing power of its assets.

Binance, the world’s largest digital currency exchange is looking to launch an NFT marketplace in the coming months. Binance says that the platform will be perfect for crypto developers looking to establish their own tradeable tokens and other virtual collector’s items.

The Gemini Exchange in New York has partnered with Mastercard to offer clients a crypto-based credit card that allows users to garner bitcoin and crypto rewards on various purchases. Users will have a choice of which cryptocurrency they want to receive and will have access to other Mastercard benefits.

This week saw the ten-year anniversary of the final message of Satoshi Nakamoto, the creator of Bitcoin. In an email sent to Bitcoin developers, he stated he was now “moving onto other projects” and that his days in the BTC field were likely over. To this day, Nakamoto’s real identity has never been uncovered.

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