Top Five Stories from The Last Week
Fundstrat's Tom Lee: Current Bitcoin Misery Index Never Been Reported in Bear Market
What is this all about?
Fundstrat Global Advisors founder Tom Lee pointed out that the value currently reported by his company's bitcoin sentiment indicator, the Bitcoin Misery Index, has never been seen in a bear market.
What does it mean?
Lee noted that through 2018, the BMI has not been over 50, while it now recently touched a value of 89. According to Lee, values over 67 have never taken place in a bear market. He concluded: "It means that a bull market is likely starting."
Read more here.
Official Chinese Currency Renminbi to Become Cryptocurrency, Expert Says
What is this all about?
Donald Tapscott, executive chairman of the Blockchain Research Institute, stated that the official Chinese currency, the renminbi (RMB), will become a cryptocurrency.
What is this for?
Speaking about the government's ban on cryptocurrency exchanges, Tapscott outlined: "It's not really necessary to do that [to ban exchanges and mining] because in 20 years we are not going to be using bitcoin in China. Chinese people will use the RMB, only the RMB will become a cryptocurrency. The central bank of China will turn it into a digital currency."
Read more here.
Forbes Releases List of Billion-Dollar Companies Using Blockchain
What happened?
Financial news outlet Forbes released their "Blockchain's Billion Dollar Babies," a list of companies implementing blockchain technology that have minimum revenues or valuations of $1 billion.
Who is on the list?
The list contains such household names as Amazon, Walmart, Facebook, ING, Mastercard, Microsoft and Nestle, as well as U.S.-based cryptocurrency exchange Coinbase, European mining and hardware firm Bitfury, and blockchain-based financial services network and XRP token creator Ripple.
Read more here.
French Gov't Minister Open to Enabling Crypto Donations for Notre Dame
What happened?
Cédric O, France's Minister of State for the Digital Sector, said this week that he is open to accepting cryptocurrency donations for the reconstruction of the Notre Dame Cathedral, which experienced a debilitating fire last week.
How would it work?
The donations for the medieval cathedral's reconstruction have already reached over $1 billion, while not yet allowing for donations in crypto. The official fundraising site is linked to four approved organizations, with Cédric O noting that the government is open to discussion on how to accept crypto to drive up the fundraising.
Details here.
Craig Wright Continues to Chase His Critics as Major Crypto Platforms Boycott His Cryptocurrency, BSV
What is this all about?
After Binance, one of the world's largest crypto exchanges, decided to delist bitcoin SV (BSV) amid Craig Wright's campaign to deanonymize one of his critics, other major platforms — including ShapeShift and Kraken — followed suit.
What are the consequences?
The price of BSV tanked, while Wright and his team have purportedly served some of their critics with court documents, demanding public apologies.
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