🔴 Tesla Accepts Bitcoins and Keeps Them All | This Week in Crypto – Mar 29, 2021

Tesla accepts Bitcoin payments, Coinbase is issued a penalty, and a retirement fund buys BTC. 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. American car buyers can now purchase
Tesla vehicles with Bitcoin according to a recent announcement
by the CEO of Tesla. Elon Musk also stated that none of the BTC revenues
the company receives will be converted to US dollars, but will rather be stored away
and kept in the company’s reserves. The Commodity Futures
Trading Commission (CFTC) has fined popular crypto exchange Coinbase
$6.5 million for failing to engage
in proper reporting practices.

Two programs on Coinbase Pro
allegedly inflated trading volumes for both Bitcoin and Litecoin. Despite the hefty fine, the CFTC believes that the inaccurately
reported data was more a result of “carelessness”
than of malintent. KiwiSaver Growth Strategy, a $350 million retirement plan operated by New Zealand Wealth
Funds Management, has allocated 5% of its assets to Bitcoin. Bitcoin’s striking similarities to gold were cited as one of the biggest reasons for the retirement fund
to enter into the trade. Fidelity, Goldman Sachs
and SkyBridge Capital are all in the rush for launching
the first Bitcoin ETF in the US. Fidelity Investments, one of the first asset managers
to engage with cryptocurrencies, and Anthony Scaramucci
of SkyBridge Capital have each filed applications with the SEC
to launch a Bitcoin ETF. At the same time, Goldman Sachs is seeking approval
from the SEC to launch notes linked
to the ARK Innovation ETF, a fund that could also offer exposure
to bitcoin.

Popular trading app Robinhood is looking to expand its crypto department
tenfold in the coming months. The company acknowledges the growing
popularity of crypto trading and is working hard to ensure
the firm is prepared with new hires. While the app does not give crypto investors
access to their private keys, the CEO says this could change in the future. Crypto.com launched its NFT platform
on Friday with content from Snoop Dogg
and Lionel Ritchie claiming it will be the "world's largest
and most user-friendly NFT platform.". The platform will be invite-only and will feature collaborations
between mainstream and digital artists. Time Magazine is looking for a new
chief financial officer and the magazine wants that person
to feel “comfortable with bitcoin”. The news suggests that bitcoin
and digital currencies are becoming more mainstream and are likely penetrating the job world in ways nobody thought possible
only a few years ago. That’s what’s happened
this week in crypto. See you next week. If you've enjoyed this video,
leave us a thumbs up and make sure to subscribe
and click the notification bell so you don't miss a review,
news update or the clearest information about Bitcoin
and cryptocurrencies anywhere.

You May Also Like