Crypto News Recap: Tesla Offers Bitcoin As Payment Option, NFT Mania Might be Getting out of Hand

Published March 29th, 2021 - 07:00 GMT
Crypto News Recap: Tesla Offers Bitcoin As Payment Option, NFT Mania Might be Getting out of Hands
The Technoking of Tesla announced on Twitter that fractions of bitcoin can be used to buy Tesla’s cars. (Shutterstock)
Highlights
Can't understand price charts📈? You know the drill... We've got you covered💃! Here is a brief recap of all major Bitcoin and cryptocurrency news events of the past week.

This week in the crypto world the NFT mania seems to be getting a bit out of hand as everyone, including journalists, wants to join the NFT party because why NOT.  Also, The one and only Techno King of Tesla made a hotly anticipated announcement after teasing us a couple of months ago when the biggest EV company revealed investing $1.5 billion in the world’s first truly digital currency.

Still not sure what an NFT is? Check out our crypto glossary 📖.

Ready? Let's talk crypto, cars, NFTs, and charts 📈, shall we?

Crypto Charts: Bitcoin

Bitcoin (trading $55,398 at press time) is undergoing a corrective movement and slumped 3.87% throughout the week despite all the good adoption news from Tesla. 

bitcoin

Source: coinmarketcap.com

According to Cointelegraph, YouTuber and derivatives trader Tone Vays also believes the best is yet to come, saying: “While it is still possible for Bitcoin to make a lower low for the month in the $48,000 range, I believe we will go up to above $70,000 before June.”

Crypto Charts: Altcoins

crypto market

Source: coinmarketcap.com

Big News: Tesla now Accepts Bitcoin Payments

Last Wednesday, The Technoking of Tesla announced on Twitter that fractions of bitcoin can be used to buy Tesla’s cars.

In a series of following replies, Musk added that "Tesla is using only internal & open source software & operates Bitcoin nodes directly,". Also, he noted that "Bitcoin paid to Tesla will be retained as Bitcoin, not converted to fiat currency."

Tesla bitcoin

Bitcoin payment method of Tesla's Model Y/The Block

However, For the time being, only US-based customers will be able to pay for Tesla vehicles with bitcoin. But don’t worry dear readers, Musk tweeted this payment option to be available worldwide later this year.

Following this announcement, BTC's price soared above $55,000.

Twitter’s Jack Dorsey Sells his first Ever Tweet NFT for $2.9 Million

Crypto advocate and Twitter CEO Jack Dorsey has sold a NFT of the first-ever tweet for $2.9 million to an investor dubbed as @sinaEstavi.

Earlier, Dorsey said that he’s going to donate the money to GiveDirectly, a  COVID relief in Kenya, Rwanda, Liberia, Malawi, DRC, Togo.

The New York Times is Offering articles as NFTs!

Who said that journalists can’t participate in NFTs mania? NYT has entered the game and even sold an article for more than half a million dollars! 

 Kevin Roose decided to turn a column about NFTs that is  into an NFT and put it up for auction. That’s not everything, also NYT sweetened the deal with a dedicated follow-up article that will include a congratulatory voice memo from the host of The Daily podcast, alongside mentioning buyer’s name, your affiliation and a family-friendly image of their choice.

US: Kentucky Governor Approves Bills Providing Tax, Energy Incentives for Crypto Miners

Finally, Kentucky governor, Andy Beshear, approved the 2 proposed bills a week after the states' legislature suggested them. These bills aim to attract crypto mining companies to the state by introducing energy and tax breaks mining operations.

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Events to Keep An Eye On:

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Disclaimer: The Cryptocurrency market is considered highly speculative, risky, and largely unregulated. Anyone mulling investing in it, should be aware there's a risk of losing their entire investment.


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