BitcoinBites: 5 BTC stories you should know – November 24th, 2021
NFL star Odell Beckham Jr. to take full salary in Bitcoin
National Football League (NFL) wide receiver Odell Beckham Jr. will take his entire new salary in bitcoin through a partnership with Cash App, the athlete announced on Twitter. Beckham recently left the Cleveland Browns for the Los Angeles Rams.
"It's a NEW ERA & to kick that off I'm hyped to announce that I'm taking my new salary in bitcoin thanks to CashApp," Beckham tweeted. He added that he is also giving away a total of $1 million in BTC to fans who post their Cash App usernames in the announcement’s comments section.
The receiver is the latest NFL athlete to announce being paid in bitcoin, a move that could make him up to $4.5 million in BTC in one year. Earlier this month, Green Bay Packers legend quarterback Aaron Rodgers shared that he would take a portion of his salary in BTC through a partnership with Cash App. Rodgers reportedly earns a salary of $33.5 million, and his 4-year contract with the Packers is worth $134 million.
This analyst believes Bitcoin will amount to 5-7% of world economy soon
The crypto king has witnessed an large number of developments since its inception. Different comparisons, FUDs, regulatory pressure, and whatnot. All these can amount to either a surge or a setback to Bitcoin and its price.
Microstrategy CEO Michael Saylor put forward his narrative in a CNBC interview. He touches upon different aspects concerning BTC. According to him, the flagship token prevails as the winner irrespective of the opposing party in question.
MicroStrategy, a software-based company is the largest Bitcoin HODLer at press time. It holds more than 114k BTC, amounting to o.54% of the total BTC supply. That’s not it. Saylor added, ‘We are going to keep stacking forever.”
Morgan Stanley funds adding to Bitcoin exposure, SEC filings show
In new filings with the U.S. Securities and Exchange Commission (SEC), banking giant Morgan Stanley has revealed some of its funds added Bitcoin exposure in Q3.
For the period ending September 30, Morgan Stanley’s Growth Portfolio Fund, for example, added 1.5 million shares of the Grayscale Bitcoin Trust (GBTC). Similarly, its Insight Fund added nearly 600,000 shares over the period.
Other Morgan Stanely funds added exposure as well, suggesting that Morgan Stanley fund managers are becoming more comfortable adding Bitcoin to their portfolios.
Square releases white paper for decentralized Bitcoin Exchange
Square, the financial services company helmed by Twitter's Jack Dorsey, wants to do more with Bitcoin than just allow people to buy it on its Cash App. It's working on a way to let people trade BTC and fiat on the type of decentralized exchange (DEX) that's common to Ethereum.
Square's TBD division, first announced in July, today released a white paper presenting tbDEX.
The white paper claims tbDEX is a "protocol for discovering liquidity and exchanging assets (such as bitcoin, fiat money, or real world goods)" safely without knowing the identity of other parties. Moreover, it says the protocol goes around financial intermediaries and other gatekeepers (such as centralized exchanges) that guard the borders between fiat and digital currencies.
Stripe considers reenabling Bitcoin services, says CEO
Three years after halting bitcoin payments, citing enhanced volatility and lack of efficiency, the financial services, and software giant Stripe could soon resume its support for cryptocurrencies.
During a CNBC-moderated panel at the Fintech Abu Dhabi festival on Tuesday, John Collison – the CEO of Stripe – spoke about the possibilities of his company reenabling digital asset services.
Although he failed to provide a conclusive response, Collison said the firm has not ruled out such a possibility. More precisely, he said Stripe doesn’t allow crypto payments yet, but “I think it’s not implausible that we would.”
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