🔴 Dogecoin to the Moon and Back | This Week in Crypto – May 10, 2021

Buying Bitcoin from banks,
eBay accepting crypto payments and Dogecoin going to the moon? 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. Altcoins are on the rise, as Ethereum and Dogecoin have shot up
to new highs this week. ETH was trading above $3,500, while Dogecoin has come closer
to trading at $1 than ever before in anticipation of Elon Musk’s stint
as guest host of “Saturday Night Live”. U.S. banks are ready to offer crypto services
to their customers thanks to partnerships
with digital asset fund manager NYDIG.

Hundreds of banks are already enrolled
in the program, where customers will soon be able to buy,
hold and sell bitcoin through their existing accounts. Popular auction platform eBay is now
looking into allowing crypto payments. While no official decision
has yet been made, eBay’s CEO Jamie Iannone says
that his company prides itself on permitting new forms of payment, and that crypto presents
several new opportunities for both eBay and its customers. S&P Dow Jones Indices has launched
three new cryptocurrency indices. The S&P Bitcoin, Ethereum
and Crypto Mega Cap Index will allow retail traders to easily
gain exposure to the largest cryptocurrencies, while the indices can also be used
to track crypto prices in the legacy finance world. Payment app Square has reported its first
quarter income with record revenue. The company brought in 266 percent
more revenue than it did during the first quarter
of last year, claiming this is largely due to massive
jumps in bitcoin’s price.

European banking app Revolut
will permit its crypto investors to move their digital assets
to other platforms or wallets. Currently, Revolut, much like PayPal
and Robinhood prevents its users from taking the bitcoin
bought on their platform and moving it elsewhere. Barry Silbert’s Digital Currency Group
will now buy up to $750 million in Grayscale’s GBTC shares. That’s a $500 million increase from the crypto
giant’s announcement in March, and the boost comes as the largest crypto
fund remains mired in a steep discount to the underlying Bitcoin it holds. Berkshire Hathaway
Vice Chairman Charlie Munger called bitcoin “disgusting and contrary
to the interests of civilization” at the company’s annual shareholder meeting.

The 97-year-old Munger together
with legendary investor Warren Buffet have long criticized bitcoin
for its extreme volatility and lack of regulation. That’s what’s happened this week in crypto. See you next week. If you've enjoyed this video,
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