đź”´ Bitcoin Achieving MASSIVE Global Recognition | This Week in Crypto – Feb 22, 2021

Bitcoin blasts through a trillion dollars
in market cap, MicroStrategy borrows big
for more Bitcoin, and how many financial executives
view Bitcoin as a valid investment? These stories and more,
this week in crypto. Special thanks to eToro
for sponsoring this video. Connect with other traders
and copy their moves, check the link in the description
for more information. Hi, I’m Nate Martin
from 99Bitcoins.com, and here’s what’s happened
this week in crypto. For the first time ever, Bitcoin’s market capitalization
surpassed $1 trillion following the price
surging well over the $50000 mark. The altcoin market has also enjoyed
remarkable gains with Ethereum over $2000 and Binance’s BNB coin
up by more than 100% this week.

Business intelligence company MicroStrategy has completed a $1.05 billion debt offering
to spend that on buying more Bitcoin. The company first began
buying the digital currency in August of last year when it was trading
for around $12,000 per unit and has purchased
more than 70000 coins so far. BlackRock, the world’s largest
asset management firm, when asked about bitcoin, said that
they’ve “started to dabble a bit into it”, but refused to divulge a target allocation. BlackRock just allowed two of its funds
to invest in Bitcoin futures last month and confirmed that the company is currently
sitting on a lot more cash than they historically have
because traditional hedges don’t work. Elon Musk, the ever-active on social media platforms
CEO of Tesla and SpaceX has updated his Twitter profile
with an avatar of Bitcoin.

Furthermore, he stated that owning bitcoin
is “adventurous enough for an S&P500 company” because the asset is “simply a less dumb
form of liquidity than cash.” A new survey suggests that despite MicroStrategy’s and Tesla’s
strong positioning on Bitcoin, still nearly 85 percent
of financial executives say that they will never consider Bitcoin
a valid investment. Many of those interviewed claimed
that bitcoin cannot be taken seriously thanks to its ongoing bouts of volatility
and its concerns about cybersecurity issues. Hester Peirce, “Crypto Mom”
of the Securities and Exchange Commission is calling for clearer regulation
in the world of cryptocurrencies. Peirce said that with major companies
purchasing heavy amounts of BTC, it is time for a stronger
and more clarified legislation as she doesn’t want to see these companies invest in assets they potentially
don’t understand.

With Bitcoin’s price on the rise, Coinbase—one of the largest and most powerful
digital trading platforms — is now worth roughly $77 billion
according to the latest valuation. Should this momentum hold
once the company goes public, the trading firm is set to become larger
than the Intercontinental Exchange. Canaan Creative—one of the largest
crypto mining firms listed on the NASDAQ, saw the price of its stock
rise by more than 40 percent. This brings the company’s stock increases
to more than 770 percent in the past six months alone – despite recently reporting a heavy
shortage of mining equipment. Finally, our very own 99Bitcoins
recently took over the dead coins project. Dead Coins was founded in 2017 to keep track
of all of the cryptocurrencies that are no longer in use
or aren’t actively maintained. The project lists over 1500 altcoins and every day new coins are added to the list
through the help of the crypto community. Have a coin you think is no longer active? Head over to deadcoins.com
and send it our way.

That’s what’s happened
this week in crypto. See you next week. If you've enjoyed this video,
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