Retail giant [Walmart](https://www.walmart.com/) announces plans to roll out 200 Bitcoin ATMs across their United States stores.

Walmart plans to install Bitcoin ATMs across 200 of their stores allowing customers to exchange physical cash for bitcoin.

Working in partnership with ATM manufacturer Coinstar and crypto wallet Coinme, Walmart aim to speed crypto adoption and make it easier for the public to purchase bitcoin with physical cash, lowering the barrier to crypto entry.

Director of Communications at Walmart Molly Blakeman said: ‘Coinstar, in partnership with Coinme, have launched a pilot that allows its customers to use cash to purchase bitcoin. There are 200 Coinstar kiosks located inside Walmart stores across the United States that are part of this pilot.’

With 25,000 terminals already installed across the US, Bitcoin ATMs are nothing new, however many view Walmart’s involvement as an encouraging signal for widespread crypto adoption, especially for those in the lower income bracket.

## Coinme

Coinme describe themselves as a bitcoin wallet provider making it ‘easy to purchase bitcoin at participating Coinstar and Moneygram locations’.

Users simply have to download the wallet app for iOS or Android, create an account and verify their identity before finding a physical location to purchase their bitcoin. The simple to use mobile application will appeal to those who are put off buying crypto through complicated centralised exchanges.

## Coinstar

Coinstar is an established American owned ‘coin-cashing machine company’ which was founded in 1991 and taken over by Apollo Global Management in 2016. Its primary business model focuses on the conversion of loose change into paper currency, donations and gift cards via their coin-counter kiosks. Branching into cryptocurrency seems like the logical next step.

The purchase process has been designed to be accessible and simple.

Bitcoin buyers simply insert physical money into the coin-counter kiosk, state how much bitcoin they would like to buy and receive a voucher with a unique redemption code. Purchasers then redeem their bitcoin by logging in to their Coinme wallet and inputting the specified code.

The initial pilot is for 200 Bitcoin ATMs through Walmart’s biggest stores with plans for a further 8,000 to be rolled out if the pilot proves popular.

However, many people were quick to criticise the high fees involved with the ATMs. With 4% added as a ‘trade fee’ and a further 7% added as a ‘cash transaction fee’ many people labelled the ATMs a ‘rip off’.

Whether the Bitcoin ATMs prove to be a hit remains to be seen, however what the pilot clearly shows is that retail giants such as Walmart have a strong interest in providing crypto accessibility to all corners of society.

Bitcoin ATMs to be Rolled Out by Walmart

What can we expect from the Ethereum price prediction for 2022?

[Ethereum](/coins/eth) holders have enjoyed a rollercoaster year, to say the least.

The prized crypto asset commenced the year at less than $800 apiece, rose to over $4,300 (its all-time high at the time) in May, fell to less than $1,900 in July following China’s crypto ban and broke its all-time high in October, after the launch of a ProShares futures-based Bitcoin ETF product (BITO).

The Valkyrie futures-based Bitcoin ETF was launched within a week of BITO’s approval. To put it into perspective, Ethereum has grown 956,745.2% in roughly six years! Ethereum will be the next crypto asset to surpass $10,000 in valuation. The question is, will the crypto token cross $10k in 2022? I believe so.

## What does 2022 hold in store for Ethereum?

2022 will be a HUGE year for Ethereum enthusiasts. While I understand the hype surrounding bitcoin breaking its all-time high this month, Ethereum is set to the top three crypto asset which will have the best time in 2022. Yes, bitcoin will breach the $100,000 barrier, but the launch of Ethereum 2.0 is what the world should be excited about.

Ethereum 2.0 will enhance the network’s transaction processing speed considerably, from a miserly 15 transactions per second (TPS) to an enormous 100,000 TPS, thanks to sharding technology and a transition from Proof-of-Work (PoW) to Proof-of-Stake (PoS). This will place Ethereum as the fastest blockchain in the world, followed by Solana at 50,000 TPS.

Other benefits of Ethereum 2.0 include greater security and sustainability. The transition to Ethereum 2.0 will solve many existing problems and may lead to the wide-scale adoption of the crypto asset.

I believe that Ethereum will not only cross $10,000 in 2022 but also reach $15,000 (potentially). I will not be surprised if El Salvador or any other country for that matter adopts Ethereum as a legal tender next year.


 Ethereum Price Prediction in 2022

The excitement caused by the launch of the world’s first Bitcoin exchange traded fund (ETF) earlier this week is raging on.

Cryptocurrency enthusiasts and investors championed the eagerly anticipated launch on social media, while commentators were quick to analyse the implications.

Coined the [ProShares Bitcoin Strategy ETF](https://money.cnn.com/quote/quote.html?symb=BITO), trading of the revolutionary fund kicked off at $40 a share under the ticker symbol BITO and headed upward, closing out the day up 5%.

## "Investment Vehicle"

According to ProShares, their Bitcoin exchange traded fund is an investment vehicle that tracks BTC futures contracts. A representative for the company commented that the new ETF boasted first day trading volume of some 29 million shares and has, so far, banked assets of over $1 billion.

The successful launch of the first cryptocurrency-based ETF is considered by many to be, for now, _the_ watershed moment in terms of legitimising these digital assets as a genuine investment vehicle for anyone.

The financial brain trust has been trying for years to launch an ETF that exposes investors to bitcoin and while megabanks like JP Morgan and Wells Fargo have allowed specific segments of their client rosters the option of investing in certain types of cryptocurrency, none of those banks, before _this_ week, could offer their clients an ETF to invest in.

That’s all changed now.

## ETFs Gaining Popularity

Crypto-ETFs are expected to gain popularity, and accelerate interest, among traditional investors as a one of the simplest options for getting a bit of exposure to cryptocurrency without having to deal with the enigmatic intricacies of cryptocurrency exchanges in order to buy the digital assets.

And wouldn’t you know it? More players are joining the party.

Specialised alternative asset management firm, Valkyrie Investments, also got the green light from the SEC not long ago to launch their own version of the _next_ bitcoin futures ETF. Valkyrie’s new ETF is on par to begin trading on Nasdaq today. The fund will trade under the ticker BTF, but we can’t help but mention the storyline behind Valkyrie’s brief plan to designate a familiar acronym to the fund: BTFD.

Did you miss it?

It’s okay. I did too.

## The Cryptoverse

Valkyrie took a swing at a brilliant marketing strategy, and almost got away with it. The temporary ticker symbol of BTFD was purported to be an acronym that stood for ‘buy the {expletive} dip,’ which is a heavily promoted maxim for a certain trading strategy in the cryptoverse that has yielded hefty returns for the traders who have adopted the strategy. The SEC, no doubt, had their reservations and now it appears the fund will start trading under the original ticker symbol of BTF.

Whatever the ticker symbol, it is undeniable that cryptocurrency has now achieved a ‘stamp of approval’ from both regulatory and traditional sceptics and the market’s evolutionary pace now includes the ETF market. The cryptocurrency market continued its moonshot trajectory achieving a value of over $2.6 trillion earlier this week, after bitcoin hit record highs of more than $66,000.

Bitcoin ETF Mania Rages on

Electric car-maker [Tesla](https://www.tesla.com/en_GB/) yesterday reported record revenue and profits for the third quarter of the year.

However, Tesla's accounts also record a $51 million impairment charge relating to its bitcoin investment.

The company, led by CEO Elon Musk, reported no new purchases or sales of digital assets in its Q3 accounts, just like in Q2. However, under accounting rules for digital assets a company must record an impairment charge if the value of an asset it holds falls during the quarter it is reporting on. Any increase in value is not reported as a gain on the accounts.

## Tesla Purchased 41.5 billion Bitcoin

It is reported that because Tesla holds crypto as an 'indefinite-lived intangible asset' the company is required by accountancy rules to record the value of bitcoin at the time of purchase. If the BTC value falls well below the price at the time of purchase, Tesla must write down the value of its holdings as an impairment charge. 

It was announced in February that Tesla had purchases $1.5 billion-worth of bitcoin and sales of around 10% of that holding saw Tesla's balance sheet later boosted by some $272 million.

Plans to allow the purchase of Tesla vehicles with bitcoin were suspended in May, amid apparent concerns about the environmental impact of the cryptocurrency. However, over the summer, Musk stated that the plan could 'likely' be resurrected if ecological concerns were addressed.

More [Bitcoin news](/news/category/bitcoin-news).

Tesla Records $51m Bitcoin Impairment Charge

So, the Bitcoin ETF launch happened in New York, and attracted a lot of attention. You've heard about it, but what does it mean?

The first futures-based Bitcoin Exchange Traded Fund (ETF) finally launched on the New York Stock Exchange amid a fanfare in what many are calling a watershed moment not just for Bitcoin but for the cryptocurrency industry as a whole.

After years of rejected applications and many a false dawn, the world’s first futures based Bitcoin ETF became available to investors yesterday.

The ‘ProShares Bitcoin Futures ETF’ will provide investors with exposure to Bitcoin without having to personally hold the asset themselves. Investment brokers will be able to purchase and trade shares in the fund which will give their customers exposure to the world’s premier cryptocurrency.

## Crypto Legitimacy

The sanction and launch of the latest financial product added legitimacy to Bitcoin and cryptocurrency with many people viewing the event as a watershed moment for the entire industry.

Whilst crypto industry milestones have historically led to massive sell-off’s many industry experts are expecting prices to soar to new all time highs as a professional and licenced ETF will provide a legitimate avenue for institutional capital to enter the industry.

Michael Spahir, CEO of ProShares told the New York Times that '2021 will be remembered for this milestone' as traditional investors want 'convenient access to Bitcoin in a wrapper that has market integrity'.

## Only futures for now

While the ProShares ETF is a purely futures based product, meaning buyers can only trade contracts based on the speculation of the future price of Bitcoin, many experts agree that this is a step in the right direction for those institutional clients looking for Bitcoin exposure.

Michael Saylor, CEO of MicroStrategy, announced in September that “When we have a Bitcoin ETF in the US, billions and billions of dollars will flow into Bitcoin that under no circumstances would have found their way into Bitcoin otherwise”.

With a Bitcoin price of just over $63,000 the future remains to be seen but with market sentiment riding high many are expecting today’s milestone to be the catalyst the market has been waiting for.


What Does the Bitcoin ETF Launch Mean?

Positivity around the approval of United States Bitcoin ETF products by the SEC has propelled the value of vitcoin beyond $60,000 for the first time since March 2021. The U.S ETF industry is enormous – the industry is worth an astounding $6.7 trillion and we may see the approval of not one but up to four products, including a ProShares product later in October.

The culmination of eight years of anticipation may be a watershed moment for the crypto industry. Proposals from ProShares and Invesco are for futures-based Bitcoin ETFs, filed under The Investment Company Act of 1940 – this will allow more protection for investors.

There are several other factors that have led to the current bullish sentiment around the value of bitcoin, including El Salvador's goodwill gesture with regards to The Bitcoin Trust, India's emergence as the world's largest crypto user base, the US's emergence as the world's leading Bitcoin mining hub and the disappointment of China's definitive crypto ban being put behind the public.

## Can the Value of Bitcoin reach $80,000 in 2021?

Realistically, the answer is no. While US Bitcoin ETF approval is around the corner, you never know when a setback to growth may appear. Yes, the value of bitcoin will surpass its all-time high and perhaps even cross $72,500 but it is difficult to see the prized crypto asset crossing the $80,000 mark even if the current bullish trend continues into November. That said, bitcoin could very much reach $100,000 in 2022.

The whole industry is likely to benefit from current value of bitcoin positivity and it is only a matter of time before altcoins like Ether and Cardano pick up (rapid) pace as well. 2022 is likely to be one of the most important years in recent crypto history, as CBDCs are poised to play a prominent role in global finance.

More [Bitcoin news](/news/category/bitcoin-news).

Bitcoin Future Value Prediction by the end of 2021

Polkadot has had approval from blockchain's on-chain governance to debut parachain auctions from the 11th of November, that will run until the 9th of December.

This will enable the fast deployment of parachain operators, which are key to Polkadot's scaling capacity.

## What are Parachains?

Parachains are intended as a solution to one of blockchain technology's biggest problems; scalability. Most blockchains either limit the number of transactions they can process (Bitcoin) or charge increasingly high fees (Ethereum). 

The Polkadot parachain auctions will run for five consecutive weeks, and the initial bidding period will be two days long, followed by a five-day ending period. This intentionally limits the amount of time available to make bids, which is intended to counteract any large bidders camping out on the auction and forcing smaller participants to pay inflated prices.

More [Altcoin news](/news/category/altcoin-news) 

Parachain Auctions Approved for Polkadot

Since becoming the darling of investment communities worldwide, Bitcoin has spawned an entirely new class of digital assets called “altcoins.”  Seeking to replicate the success of the world’s first digital currency, the rapidly expanding cryptocurrency market continues yielding swaths of newer coins that are all designed with the intention of upending Bitcoin as the heavyweight king of crypto.

With well over 9,000 new altcoins to choose from, here’s what you need to know:

## What are altcoins?
------------------

Altcoin is short for "alternative coin.”  Quite simply, these digital assets are alternative cryptocurrencies to Bitcoin.

Bitcoin will forever be universally hailed as a “first of its kind” asset and newer cryptocurrencies developed after the fact are viewed as alternative coins, or altcoins. The first altcoins started showing up back in 2011 and they were designed to be more advanced than Bitcoin in terms of technology.  For example, quicker transaction speeds than what Bitcoin could offer. 

To get an idea of how altcoins work, all you need to do is look at blockchain technology – the environment where all cryptocurrencies “live.”  A blockchain is an _electronic ledger_ that records cryptocurrency transactions and this ledger is maintained across computers that are linked across a distributed network.  What investors finds so intriguing about cryptocurrency is that they operate on a decentralized, trustless, P2P payment network that functions without a central authority or overseer to facilitate transactions. 

It is truly _decentralised_. 

Many of the altcoins that you can invest in are, in fact, technologically superior to Bitcoin.  They’re just not as popular…yet. 

Here are three altcoins with an especially promising future:

### [Chainlink (LINK)](/coins/link)
---------------------------------------------------------------------

Chainlink's price has more than doubled in 2021, and they’ve recently announced a partnership to provide data for what are called “smart contracts” - programs used to automate the execution of an agreement so that all parties are held accountable for a desired outcome.  Chainlink is building a great reputation for being able to translate real-world data into something that these smart contracts can immediately interpret and act upon.  In a nutshell, Chainlink is offering capabilities that are very desirable in the cryptoverse, making Chainlink one of the top altcoins to watch.

### [Polkadot (DOT)](https://polkadot.network/)
-------------------------------------------------------------

Much of the ballyhoo surrounding this altcoin is that it’s promoted as “one of the most highly anticipated next generation blockchains.”  Polkadot lets developers _build their own_ blockchains and then connect them with each other, overcoming major scalability issues.  Much of the cryptocurrency brain trust has gone so far as to say that Polkadot is the future of decentralized applications.  Time will tell, but this altcoin is certainly off to an incredibly searing start.  

### [Stellar (XLM)](https://www.stellar.org/)
----------------------------------------------------------------

Stellar was created by one of the co-founders of another popular altcoin called “Ripple” and was designed with a focus on the people that are living in developing countries.  These are places where traditional banking services may not always be immediately available and Stellar is designed to be the “peoples” resource.  This altcoin offers the best in terms of real-world application.  For those who’ve worked in a business operating internationally, Stellar could be a _very_ big deal.

## Altcoin Price Volatility
------------------------

As altcoins got their start, the cryptocurrency market would move in unison with the performance of Bitcoin.  As Bitcoin went up, so did the market.  It was the same if Bitcoin trended downward.  Maybe not perfectly aligned, but about 70% and more was what we could expect.  Now, as altcoins demonstrate their usefulness, and independence from Bitcoin, there has been a break in the correlation. 

I think this is the sign of a healthy cryptocurrency market that is gaining strength, and another sign that now is the time to start looking seriously at cryptocurrencies, or altcoins, _not_ named Bitcoin.

Altcoins Continue Upward

Harmony One is a well-kept secret that won’t be a secret much longer. The coin has seen a recent surge in price and no doubt a surge in attention.

When Ethereum launched on July 30, 2015, as another decentralised open-source blockchain cryptocurrency playing little brother to Bitcoin- they knew they had something different. Ethereum has the functionality of Smart Contracts. A way to further extend the utility of cryptocurrencies in ways that can potentially change the way the world works.

Just like Bitcoin has spawned many copycat coins, Ethereum has given birth to so many amazing projects that are built based on the Ethereum smart contract model. Harmony is most certainly one of the more efficient and affordable coins to transact with.

## About Harmony

[Harmony Mainnet](https://www.harmony.one/) was launched in June 2019. Our network has produced 30M+ blocks with 450k+ transactions in publicly traded, native ONE tokens. Harmony’s bridges can connect any Proof-of-Work and Proof-of-Stake chains. Their FlyClient architecture is fully trustless and highly gas-efficient. Currently, their bridges for Ethereum and Binance Smart Chain secure tens of millions of cross-chain assets.

Developers simply change Chain ID and enjoy faster EVM executions identical at the bytecode level. They can use their familiar and standard Web3 tooling to easily migrate to Harmony.

As far as users they can continue to use MetaMask or Ledger — but now pay minimal fees. Any Ethereum wallets or portals can work on Harmony without code changes or new installs — they are fully compatible for both transaction messages and execution environments.

## What is harmony one used for?

The One token is used as a stake in the consensus model used with Harmony. The holders can earn block rewards and are incentivised to keep the system healthy. The tokens are used to pay for various fees, including transaction fees, storage fees, and gas fees.

Speed kills, in a good way.

Harmony One is well known for its amazingly fast transaction times and very low fees.

Transaction times of 2 seconds at 1 block and fees of $0.000·001 USD are superb when compared to Ethereum at 6 minutes/25 blocks and fees that are continuously making holders very upset. 

## The Price is Right?

Just to place things in perspective: On Aug 31, 2015 [Bitcoin (BTC)](/coins/btc) was valued at $227.18 and [Ethereum (ETH)](/coins/eth) was $1.25.

On January 28 2020 Harmony was priced at $0.00502 with a market cap of $18.3 million- at the time of writing (October 7th, 2021) its priced at $0.219 with a market cap of $2.43 billion, yes billion with a B. A significant increase in that span of time.

Harmony One seems to have a very bright future and at this price, it’s still a great time to jump on the bandwagon- I certainly am.

Crypto Spotlight: Harmony ONE

Ethereum is the heir apparent to the cryptocurrency throne. [Bitcoin](/coins/btc) is the king of cryptocurrencies and will continue to capture the interest of all investor classes for several years. El Salvador became the first country to accept Bitcoin as legal tender in early September 2021.

The country hopes to utilise Bitcoin as a mode to facilitate cross-country payments and save millions in fees levied by financial institutions. Several businesses have included Bitcoin as a payment option globally. That said, Bitcoin has no real applications – any cryptocurrency can be used to suffice the mentioned purposes and in fact, most will fare better.

## Popular cryptocurrency transaction speeds compared

To put it into perspective, Bitcoin can process up to 7 transactions per second (TPS). Neo on the other hand can process up to 10,000 TPS and Ripple can support 1,500 TPS. While Ethereum can only handle up to 15 TPS at the moment, Ethereum 2.0 is the answer – Ethereum 2.0 promises up to 100,000 TPS!

## Why Ethereum and Ethereum 2.0, in particular, is the real deal

The rollout of Ethereum 2.0 not only promises quicker transaction speeds than are currently available but also a plethora of other improvements to the Ethereum blockchain. Ethereum serves a variety of use cases already which makes it the most important crypto asset in the crypto sphere. The key benefits of Ethereum 2.0 include:

*   A switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS) for quicker transactions and lower fees.
*   Ethereum holders will be able to earn rewards from staking.
*   The implementation of sharding for higher TPS.
*   More practical for average users. 

We must accredit Bitcoin as the pioneer of the crypto industry and the most important component in the worldwide acceptance of cryptocurrencies but Ethereum is the crypto asset of the present and the future.

Ethereum Prediction: Prince of Cryptocurrencies

## Who is Celer?

Celer (CELR) token is part of the Celer Network which is a layer-2 scaling platform that brings fast, secure, and low-cost blockchain applications on Ethereum, Polkadot, and other blockchains to mass adoption.

Celer launched the world’s first Generalized State Channel Network and continues to push the frontier of layer2 scaling with advanced Rollup technology. Core applications and middlewares like cBridge, layer2.finance and more ecosystem applications built on Celer have attracted more large audiences in DeFi, blockchain interoperability, and gaming space.

## cBridge History

Celer rolled out the first version of its cross-chain network dubbed cBridge 1.0 on the mainnet in July 2021.

The bridge allows users to transfer assets between several blockchains including Ethereum, Binance Smart Chain, Polygon, and Arbitrum at a fraction of the cost, within minutes instead of having to wait for several days.

Other partnerships include Dfinity, Ankr, Chainlink and Maker among others.

New updates have brought attention to the project and it has been reflected in recent price action, and many are reaping the benefits.

### cBridge 2.0

Only two months after launching the first version, Celer released cBridge 2.0 as an “innovation-packed major upgrade” to introduce deep liquidity for users.

Announced on September 22, the blockchain project noted that the cBridge 2.0 features other improvements for all participants, including users, stakers, and developers.

Users will enjoy more simplicity, native gas token unwrapping, access to more tokens and chains, and an Insured bridge node Service Level. At the same time, Liquidity Providers are no longer required to run a cBridge node and will enjoy simpler experiences, high liquidity efficiency, incentivized liquidity rebalance, and high quality-of-service node scheduling.

Stakers and validators, on the other hand, will directly capture the value of the cBridge through rewards and will also be able to participate in governance while developers will access white-label frontend SDK, cross-chain messaging for NFT, and more.

Very promising news for the future of Celer with more improvements surely to come.

## Celer Updates

As of the time of this writing (October 2, 2021), the price of Celer Network has fallen by 15.87% in the past 7 days. The price increased by 5.32% in the last 24 hours.

The current price is $0.149014 per CELR. Celer Network is 25.49% below the all-time high of $0.20.

The current circulating supply is 5,981,936,992.598 CELR.

Crypto Spotlight: Celer (CELR)

Revolut, a London based FinTech company has recently announced expansion of the firm as there are plans to launch its own cryptocurrency token that would initially be available to European and other US markets to begin with.

According to the reports coming from Revolut, they are planning to bring out a cryptocurrency token of their own and this would be available initially in London and US markets. The token is dubbed as "Revolut coin" and will be usable on the platform for free services like payment transfers and ATM withdrawals.

Token holders will be able to have premium access to features such as discounts, rewards and other benefits within the platform.

The company started providing cryptocurrency buying and selling services in 2017. But it started expanding its crypto offerings this year, increasing its crypto-asset offerings to 53.

Revolut to Launch its Own Crypto Token

In an effort to be ‘maximally compliant with regulatory requirements’ the world’s second largest [Ethereum](/coins/eth) mining pool announced today that all operations are to halt at the end of the month.

Hangzhou based SparkPool released the information yesterday confirming all activities were to cease by Thursday 30th September.

This announcement closely follows Friday’s decision that all new users were banned from registering with SparkPool with immediate effect.

## SparkPool Contribute 22% of Hash Rate

Since its inception in 2016, SparkPool has evolved to become the world’s second largest Ethereum mining operation by hash rate closely behind industry behemoth Ethermine. SparkPool currently contribute 22% of the entire Ethereum hash rate with a whopping 142 terra-hash per second.

SparkPool’s announcement follows a call from the State Council of China in May this year for local authorities to crack down on crypto mining activities and, while this had been somewhat of a success, a number of stealth mining operations have been slowly resuming work over the last few months.

## China's Decision May Have an Impact

Many people believe the announcement was heavily influenced by the Chinese Central Government’s recent decision to declare all crypto related activity illegal with immediate effect (Thursday 23rd September).

Following the initial country wide clampdown in May this year, Bitcoin miners Poolin and BIT Mining have been looking for new premises and had ear marked North America and Central Asia as possible new sites.

While SparkPool could also have circumnavigated the ban by taking their mining operation overseas they evidently have chosen not to.

Global mining outfit, Huobi, declared on Sunday September 26th that all China based users will be unable to access their services by the end of the year.

The news did not come as a huge surprise to many industry leaders as China continue to crackdown on the cryptocurrency eco-system within the country. Consequently, SparkPool seem to have made the decision with the purpose of protecting client assets.  
  
The impact on Ethereum network performance and price is yet to be seen.

Many proponents view the China ban as bullish for crypto as pushback from China has historically been good for the rest of the Western world. In 2009, China banned Facebook and YouTube from its shores closely followed Google and Wikipedia. All went on to see massive success in other markets.  
  
SparkPool have not released any further information regarding their future plans at this point however given Ethereum’s continued port to a Proof of Stake non-mining mechanism SparkPool’s decision may be rather telling.



Ethereum’s Second Largest Mining Operation to Close

Dutch football team, PSV, has announced that it is now holding Bitcoin (BTC) on its balance sheet following partnership with Bitcoin exchange, Anycoin Direct, in August earlier this year.

## Cryptocurrencies 'Fit Well'

When the sponsorship agreement was signed, commercial director of PSV Frans Janssen said "The possibilities and the future that the world of cryptocurrency offers is very promising, as a club in the heart of the Brainport region, we are always innovating, and cryptocurrency fits well into this picture."

PSV Football Team to Hold Bitcoin on Balance Sheet

It looks like Elon Musk has done it again. A seemingly innocuous three-word tweet from the Tesla and SpaceX founder saw a spike in the value of little-known Floki.

Musk simply shared a picture of his new Shiba Inu puppy with the caption “Floki has arrived”. Sweet sentiment, but the tweet went viral and spikes in the value of cryptocurrency with similar names were soon recorded.

The biggest winner was Shiba Floki which saw a 958.09% surge within one day of the tweet, according to reports.

## Floki Token Increase

Floki Inu witnesses increases in excess of 59% in a 24-hour period. Others, including Floki Shiba and Super Floki, also saw value rises.

It is not the first time a tweet from Musk has apparently impacted on markets; comments around Dogecoin and Bitcoin have seen values change.

Dogecoin prices also seemed to be affected by the Floki tweet. Perhaps this is unsurprising as the tweet featured a picture of a Shiba Inu dog. Dogecoin gained by 0.36% following the latest post from Musk, while Baby Doge Coin saw a 24-hour surge of 45.3%

## Shiba Inu Rises

Previous tweets from Musk have had a similar impact on Floki-related cryptocurrencies. Last month, when he said he would name his new pet Floki, Shiba Inu saw a 16% price rise.



Floki Crypto Surges After Elon Musk Tweet

El Salvador has upped its investment in [bitcoin (BTC)](/coins/btc) following a 5% last week. The country, the first to make BTC a legal tender, took advantage of the fall to increase its position. El Salvador President Nayib Bukele, on Twitter, said the country has bought an additional 150 BTC worth $6.8 million. 

## President Advises Buying the Dip

That brings El Salvador’s holding to 700 BTC, just two weeks after starting to buy. Interestingly, the President advised people that they should buy during dips, rather than worrying about the price fall. In June, El Salvador passed the Bitcoin bill, making BTC legal tender from September 12. This prompted warnings from, among others, the World Bank and IMF that there could be disastrous economic impact. 

They also refused to help the country in the technical integration of BTC as legal tender and several rating agencies, like Fitch and Moody’s, downgraded Salvador’s credit rating. In El Salvador the move prompted protests, some violent. 

## Could Other Countries Follow?

Yet the President maintains most of the population support the move and use BTC for daily needs. He also pointed to the success of the official bitcoin wallet app, [Chivo](https://marketrealist.com/p/chivo-wallet-explained/), which was downloaded more than 500,000 times in two weeks. Other countries could follow the lead of El Salvador, with Cuba and Panama among those looking at bitcoin to assist in economic revival.

El Salvador Increases Bitcoin Position

Crypto Coin News

Crypto coins or tokens are representations of values stored on the blockchain. Cryptocurrencies, literally cryptographic currencies, are simply the digital, blockchain-based equivalent of our normal or 'fiat' currencies. The most famous (and first) crypto coin is Bitcoin. 

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Crypto Coin News | Page 21