🔴 Cuba Recognizes Cryptocurrencies | This Week in Crypto – Aug 30, 2021

MicroStrategy buys more bitcoin, Cuba recognizes cryptocurrencies and free BTC for everybody in town… but which town? These stories and more
this week in crypto. Hi, I’m Nate Martin
from 99Bitcoins.com, and here’s what’s happened
this week in crypto. NASDAQ-listed business intelligence
company MicroStrategy announced yet another substantial
purchase of Bitcoin, this time worth nearly
$200 million. The firm added 3,907 bitcoin
to its stash, at an average price of just
over $45000 per coin bringing its total holdings
to nearly 109,000 bitcoins.

Cuba will recognize and regulate
cryptocurrencies citing “reasons of socio
economic interest.” The central bank will set new rules for how to deal with digital
currencies in the country. Commercial providers
of crypto related services will now need a license
from the central bank to continue operations. Digital payments platform PayPal is extending its cryptocurrency
support to customers in the United Kingdom. Traders in the U.K. can purchase
and sell mainstream crypto assets including BTC, bitcoin cash,
Ether, and Litecoin using connected bank accounts
or debit cards.

The company first rolled out support
for cryptocurrency in the U.S. last fall. Content platform Substack
will give users who agree to pay for
their subscriptions with bitcoin special access to unique content
offered on the site. Readers paying with crypto
will be privy to items like the Willy Woo newsletter,
“The Bitcoin Forecast,” and Dan Held’s “The Held Report”. One of the US’s largest financial
institutions, Morgan Stanley, has revealed this week, they own more than 900,000 shares
of Grayscale Bitcoin Trust. According to recent SEC filings, various Morgan Stanley funds
made indirect investments in Bitcoin in the form of those shares, which have a total value
of over $27 million. A scammer has allegedly managed
to steal over $100 million from investors in Turkey. Police identified the online
pseudonym “Turgut V”, who gathered investors at meetings
at luxury locations, convinced them to buy Dogecoin and then to hand them over to invest
in mining technology with the promise of huge returns. Turgut managed to collect
nearly 350 million Dogecoin before disappearing. Two years ago, an unnamed drug
dealer was taken into custody and his bitcoin stash seized
by the Swedish Enforcement Authority. While the authority initially seized
36 bitcoin, the courts ruled that the government
was only entitled to three bitcoins, meaning the rest must be
returned to him, having an estimated value
of around 1.5 million dollars; ten times the value
as when he was arrested.

The mayor of a small US town wants to give all his residents
$1,000 in BTC. Cool Valley, Missouri is considering
a bitcoin giveaway for its nearly 1,500 residents with a requirement that they hold
their crypto stashes for a vesting period in anticipation
of price appreciation which would benefit everyone
in the city. That’s what’s happened
this week in crypto, see you next week. If you've enjoyed this video,
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