The CEO of Microstrategy, Michael Saylor says that his business intelligence firm plans to hold Bitcoin for the next 100 years. He also adds that he has no intention of selling it.
Saylor believes that the king cryptocurrency is the world’s best collateral and that it does not even compare to gold or other commodities.
“Bitcoin, if it’s not a hundred times better than gold, it is a million times better than gold, and there is nothing close to it.”
The bold assertions made by the seasoned business executive have been backed by even bolder actions. On August 11, the firm purchased 21,454 BTC worth $250 million. The investment is now worth well over $278 million.
In an interview with Real Vision CEO Raoul Paul, Saylor says that the decision to invest $250 million was influenced by the board of directors, executives, investors, and the firm’s auditor.
It continues to increase its holdings. More reports reveal that it now holds $425 million worth of Bitcoin, an eye-watering amount for any private entity.
According to Saylor, Bitcoin is evolving. Over the years, it has become more resilient. He describes BTC as a hive of “cybernetic hornets protected by a wall of encrypted energy”.
Other top tech executives share similar sentiments to Saylor on Bitcoin. Twitter CEO, Dorsey is reported to have bought $50 million worth of Bitcoin, joining a growing list of CEOs leading their companies to acquire cryptocurrency.
In a short space of time, the number of companies holding Bitcoin (and their reserves) have grown significantly, exceeding previous expectations for Bitcoin adoption among private entities. On October 10, 13 companies listed with a combined total of 598,237 BTC ($7.6B) or 2.85% of the total supply. Now, there are 23 firms on the Bitcoin treasury list with much higher reserves (785,999 BTC) worth approximately 3.74% of Bitcoin’s 21 million capped supply.
Twitter CEO, Jack Dorsey has called for Bitcoin donations to be made to support the efforts of people protesting for police reforms in Nigeria.
Around the world, more people have joined the movement for police reforms in Nigeria, including Twitter’s CEO, Jack Dorsey. In a tweet, he tells followers to donate via Bitcoin to support the movement. His tweet included a link to a censorship-resistant cryptocurrency donation site which is run by a group of feminists, many of whom had their bank accounts frozen or closed during the protests.
Thousands of Nigerians have taken to the streets with thousands more joining them across the globe to call for police reforms. The nation is crying for change and the world is hearing its cries.
The ripple effects of the youths’ freedom of expression can be felt across the globe as the winds of change create waves of revolution. While some may believe that it is too early to tell, this is a moment in history that will change the path of Africa’s most populous nation in more ways than one.
Protestors complain of police brutality by a unit of the police force, SARS and the thousands of cases where claims of assault by victims have gone unanswered. Every day, innocent men, women, and children across the nation fall victim to abuse of power by bad eggs in the SARS unit of the police force. Even during the protests, unarmed men and women have been shot or assaulted, reminding Nigerians that there is still much work to be done to protect fundamental human rights in the nation.
The presidential panel on the reform of the special anti-robbery squad (SARS) accepted the five-point demand of the #EndSARS protesters. The demands included calls for:
• Immediate release of all arrested protestors
• Justice for deceased victims of police brutality and appropriate compensation for all their families
• Setting up an independent body to oversee the investigation and prosecution of all reports of police misconduct
• In-line with the new police act, psychological evaluation & retraining of all disbanded SARS officers before they can be redeployed
• Increase police salary so that they are adequately compensated for protecting the lives and property of citizens.
It remains to be seen exactly how the government and police of the Federal Republic of Nigeria will implement the solutions demanded by protestors but with each new day, hope grows for all sides to benefit from a new path in the nation.
350 members of Spain’s lower house of Congress each received 1 euro in crypto through emails as part of an attempt to raise awareness about the future role of cryptocurrencies in societies.
Education startup, Tutellus helped to orchestrate the awareness exercise. The tokenization-focused startup is keen to raise awareness about the future role of cryptocurrencies in society.
According to Tutellus,
“We have explained to your honorable members that we are in a time of profound change in the use of money, in addition to highlighting the important role that cryptocurrencies have today.”
Miguel Caballero, founder of Tutellus says the transfers are “not a donation”. Some congress members may not be familiar with cryptocurrency. With the transferred cryptocurrencies, they have an opportunity to learn more.
Over the years, Spain has become more aware of cryptocurrencies and their use across the nation. In more recent times, it has doubled down on taxation. Notices were sent to 66,000 owners of cryptocurrency in the country, representing an increase from the 15,700 tax letters the agency sent to cryptocurrency owners in the previous year.
Spanish tax authority, the Agencia Estatal de Administracion Tributaria says it plans to quadruple notices to taxpayers with cryptocurrency going from 14,700 notices
“Going from 14,700 notices last year to about 66,000 in the campaign that started this Wednesday.”
The rise in tax notices could be considered as a reflection of how much cryptocurrency activity has increased in the nation where banking giant Santander has been able to use tokenization such as Ripple to enhance its operations.
Lawmakers in other nations have also received transactions. Decrypt reported that the political action committee (PAC) of the Chamber of Digital Commerce sent $50 Bitcoin to all 541 members of Congress in October. The transactions were made with the hopes of helping more people get a better working knowledge of cryptocurrency technology.
Cryptocurrency analytics firm, Chainalysis, and forensics firm Integra have sealed a one-year contract with America’s Inland Revenue Service (IRS) to find out how to trace wallet addresses and payments of privacy coins such as Monero.
The award notice for the engagement was given in September. Both firms were given $500,000 each to create tracing tools. They have been given eight months to give a working submission and will receive $125,000 if their solutions are successful and approved.
The IRS aims for the firms to create solutions that track transactions to a specific user, identify specific transaction details and provide specific information on network activity.
“IRS-CI is seeking a solution with one or more contractors to provide innovative solutions for tracing and attribution of privacy coins, such as expert tools, data, source code, algorithms, and software development services.”
While the feat may seem impossible, Chainalysis previously said that it could track 99% of transactions involving Zcash and almost all of Dash’s coins- coins that are considered to be untraceable.
Chainalysis is one of the top firms in the cryptocurrency analytics space with a track record of providing different government agencies insights on the cryptocurrency sector. Integra, the lesser-known firm also has a track record of successful contracts in the cryptocurrency space with big names such as the Securities and Exchange Commission.
The spread of cryptocurrency awareness among government agencies over the years has enabled more agencies to create new strategies to get tax revenues from cryptocurrency users and organizations. While many of their attempts have fallen short, they continue to collaborate with private firms to deepen their influence in the landscape.
Fortunately for organizations and users in the cryptocurrency space, there are opportunities to legally save on taxes. Organizations and individuals have been able to register entities in different nations in order to legally save money on taxes.
Crypto software firm Zabo has announced its successful seed funding round. The company, based in Dallas, Texas has been able to raise a staggering $2.5 million.
The software-as-a-service startup was able to raise the money in a funding round led by Moonshots Capital. Investors such as Blockchange Ventures, Digital Currency Group, CoinShares, and Tezos Foundation were present at the event.
Zabo creates technology for financial services, both centralised and decentralised. It expects to grow its customer base with the funding provided. It also plans to increase its work force and number of partners.
According to partner at Moonshots Capital, Craig Cummings,
“Zabo has put together an impressive team and have been experts in the cryptocurrency and blockchain space for years. They have built an incredibly important piece of technical infrastructure that will enable cryptocurrency financial services to touch billions of people. We’re excited to support the team to bring cryptocurrency to mainstream financial services,”
According to Zabo co-founder, Christopher Brown
“Despite being on a path to touch billions of customers and be an asset class measuring in the trillions of dollars, cryptocurrency is very underserved relative to other financial services. This is partly because connecting cryptocurrencies, wallets, and exchanges to the traditional financial system is highly technical and complicated.”
Zabo launched in September 2019 with the intention of solving issues related to infrastructure gaps in the financial sector. It also began raising for funding during the same period.
Investors’ appetite for cryptocurrency firms is growing steadily. More organizations recognise the need to innovate or die in the blockchain space. A report by Reuters suggests that JPMorgan could soon add more members to its 25 strong blockchain entity, Quorum. JPMorgan Chase & Co is in talks to merge its blockchain unit with Brooklyn-based startup ConsenSys.
It’s Christmas again and shoppers in Nigeria and globally are buying gifts and household items for the season.
While many use e-commerce platforms such as Jumia and Amazon which have made online purchases easier, these platforms do not offer the cryptocurrency alternative for an increasing number of millennial shoppers who seek to buy items using bitcoin or other cryptocurrencies.
It is a well known fact that during the yuletide season, shoppers have a hard time with fiat payments as most financial institutions are closed for holidays and banking services hence become very slow.
This is in contrast to crypto which offers 365/24/7 utility to users globally and is devoid of the banking delays and payment hurdles.
Bitcoin/crypto payments aid speedy transactions, no charge backs, no third party delays, and offer cheaper fees than fiat payments.
A setback to the acceptance of crypto payments by many retailers and stores has been the issue of ‘volatility’. However, with the current fundamentals and growing technology of the 10-yer old crypto industry championed by Bitcoin, there is room for solutions to this setback.
Now, let’s see top websites that accept bitcoin payments for choice items and travelling needs this holiday season.
Overstock.com ranks as a top choice shopping platform for Bitcoiners especially this Christmas season. It’s customers are offered a wide range of items to purchase including: TV sets, furniture, gift items, sports gear and more; using crypto as payment method.
The BTC payment process on overstock is simple: Select the “Pay with Bitcoin” option and follow the instructions.
Overstock.com does not support BTC payments on its mobile site, so you’ll need a PC. In cases of refund, Overstock pays the exact amount of crypto paid at the time of the transaction.
And yeah Overstock ships to Nigeria.
Newegg is the perfect platform for tech savvy bitcoin holders. Bitcoiners who seek to purchase latest electronics this Christmas will find the platform’s wide range of gadgets and brands very handy.
Items from personal computers, desktops, sound sytems, high-end gaming devices and more are available on Newegg.
Here, users can make BTC payment by choosing the product and scanning the provided QR code, then proceed to send the amount in bitcoin to the given address. After the funds have been sent, users receive a confirmation email containing purchase and delivery details. Easyyyyyyyyy.
Intrestingly, Newegg ships to Nigeria, and 7 other African countries.
There seems to be a crypto shopping website for everyone. At Olodolo, fashion lovers are served the latest clothing, jewelry and cosmetic items.
Olodolo specifically helps people buy items on Aliexpress using any of these 3 cryptocurrencies – Bitcoin (BTC), Litecoin (LTC) and Ethereum (ETH).
Delivery is available to a large number of countries worldwide; with the total to be paid including shipping and related tax specified on each order.
The Christmas season comes with lots of travel, as bitcoiners link up with family and loved ones after a good trading year. LOL.
CheapAir is the perfect choice for discounted flight tickets to choice destinations worldwide.
The platform features an easy process to book flights and complete payment using Bitcoin. The rate of BTC exchange is based on the value of the digital currency at the time of booking.
A great choice for travelers.
For people looking to send gift cards to their loved ones this Christmas, eGifter does the work.
eGifter enables customers to buy a wide range of gift cards from the choicest brands such as Amazon, Apple store, Adidas, Steam and GameStop gift cards.
Giftcards can be purchased here using digital currencies like Bitcoin, Dash, LTC and ETH.
On payment completion, the user receives the choice giftcard in either physical or digital e-code.
eGifter also offers regular customer discounts through a points system which on accumulation allows the user enjoy numerous benefits.
There’s so much more!!!
Note: This publication is simply a Guide not an endorsement of the retailer’s services. See reviews and policies applicable to your country before placing any orders.
Did you know? Nigeria’s Premier Bitcoin exchange- NairaEx has launched a new service named ‘NairaEx Pay‘ – a platform that allows you integrate and instantly process Bitcoin payments to Naira on your online retail store. See full details here.
Found this helpful? Like, Share, Comment and Shop.☺️☺️ Merry Christmas ⛄☃️