Bitcoin Plummets Below $20,000 for First Time Since November 2020

Bitcoin Plummets Below $20,000 for First Time Since November 2020

Square, another payment company, bought the $ 50 million bitcoin and blocked its name to mark its work with blockchain technology. Tesla bought ڈالر 1.5 billion of that. Venture capital firm Anderson Horowitz raised 4. 4.5 billion for a fourth cryptocurrency focused fund, doubling its previous fund.

Excitement peaked in April last year when Coinbase, a cryptocurrency exchange, went public with a valuation of $ 85 billion. Incoming party for industry. Bitcoin tops $ 60,000 for the first time.

Last summer, El Salvador announced that it would become the first country to classify the US dollar as well as the bitcoin as a legal tender. The country’s president has updated his Twitter profile picture to include laser eyes, a calling card for bitcoin adherents. El Salvador has invested 10 105 million in bitcoin. Cut in half As the price has fallen.

Senators and mayors from around the United States began to promote cryptocurrency as an industry. Spent too much on lobbying. New York Mayor Eric Adams, who was elected in November, said he would take his first three paychecks in bitcoin. Senators Cynthia Looms, Republican of Wyoming, and Kirsten Glebrand, Democrat of New York, proposed legislation that would create a regulatory framework for the industry, giving the Commodity Futures Trading Commission more authority, an agency that Corrupt companies have openly cooperated.

Through obsession, celebrities vented fear of getting lost, flogged their NFTs on talk shows and talked about blockchain projects on social media. This year, the Super Bowl Highlights Four commercials for corrupt companies, including Matt Damon, warn viewers that “luck favors the brave.”

The stock market is falling this spring, rising inflation and The dismissals affected the tech sector.. As investors began to lose confidence in their corrupt investments, the money shifted to less risky assets. Many high profile projects crashed on the way back. TerraForm Labs, which created TerraUSD, a so-called stablecoin, and Celsius, an experimental cryptocurrency bank, both collapsed, costing billions and sending the wider market into a tailspin.

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