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

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MicroStrategy buys extra bitcoin, Cuba acknowledges cryptocurrencies and free BTC for everyone on the town…however which city? These tales and extra this week in crypto.

NASDAQ-listed enterprise intelligence firm MicroStrategy introduced one more substantial buy of Bitcoin, this time value almost $200 million. The agency added 3,907 bitcoin to its stash, at a median worth of simply over $45000 per coin bringing its whole holdings to just about 109,000 bitcoins.
Cuba will acknowledge and regulate cryptocurrencies citing “causes of socio-economic curiosity.” The central financial institution will set new guidelines for learn how to take care of digital currencies within the nation. Business suppliers of crypto-related companies will now want a license from the central financial institution to proceed operations.
Digital funds platform PayPal is extending its cryptocurrency assist to prospects in the UK. Merchants within the U.Ok. can buy and promote mainstream crypto belongings together with BTC, bitcoin money, Ether, and Litecoin utilizing related financial institution accounts or debit playing cards. The corporate first rolled out assist for cryptocurrency within the U.S. final fall.
Content material platform Substack will give customers who comply with pay for his or her subscriptions with bitcoin particular entry to distinctive content material supplied on the location. Readers paying with crypto can be aware about gadgets just like the Willy Woo e-newsletter, “The Bitcoin Forecast,” and Dan Held’s “The Held Report”.
One of many US’s largest monetary establishments, Morgan Stanley, has revealed this week, they personal greater than 900,000 shares of Grayscale Bitcoin Belief. In keeping with current SEC filings, numerous Morgan Stanley funds made oblique investments in Bitcoin within the type of these shares, which have a complete worth of over $27 million.
A scammer has allegedly managed to steal over $100 million from buyers in Turkey. Police recognized the web pseudonym “Turgut V”, who gathered buyers at conferences at luxurious areas, satisfied them to purchase Dogecoin after which handy them over to put money into mining expertise with the promise of giant returns. Turgut managed to gather almost 350 million Dogecoin earlier than disappearing.
Two years in the past, an unnamed drug supplier was taken into custody and his bitcoin stash seized by the Swedish Enforcement Authority. Whereas the authority initially seized 36 bitcoin, the courts dominated that the federal government was solely entitled to a few bitcoins, that means the remainder should be returned to him, having an estimated worth of round 1.5 million {dollars}; ten instances the worth as when he was arrested.
The mayor of a small US city needs to provide all his residents $1,000 in BTC. Cool Valley, Missouri is contemplating a bitcoin giveaway for its almost 1,500 residents with a requirement that they maintain their crypto stashes for a vesting interval in anticipation of worth appreciation which might profit everybody within the metropolis.
That’s what’s occurred this week in crypto, see you subsequent week.

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