We are in a booming age of technology. Five billion people currently use the internet creating about 400 exabytes of data and, by 2030, it is projected that there will be about 500 billion individual devices connected to the internet. Needless to say, there are lots of new technologies on the horizon.
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FTX and Crypto.com at the Super Bowl fifty-four.
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Visa, a global payments technology company, has reported on March 29th that the company will begin to accept USD Coin to settle transactions in this payment network. This was the latest sign of acceptance expanding since the first introduction of digital currencies by mainstream financial industries.
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Last Tuesday, Tesla CEO Elon Musk announced that it is now possible to purchase Tesla vehicles with Bitcoin in the U.S. The self-proclaimed “Technoking” revealed this news through Twitter and tweeted, “You can now buy a Tesla with Bitcoin.” The payment procedures have also been updated on the support page on Tesla’s website with further information on the transaction.
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Major indexes faltered this week while Treasury Yields soared. The 10Y Treasury yield has passed 1.3%. In theory, these two should move in the same direction. Treasury yields rise because investors are rotating out of them and into riskier assets like equities. This is known as risk-on.
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The digital payment giant PayPal (PYPL) announced on October 21st that it is expanding its market by allowing its 346 million worldwide users to use their digital wallet to buy, hold, and sell Bitcoin and other cryptocurrencies. Starting in 2021, PayPal users will also use their cryptocurrency as a payment method to PayPal’s 26 million merchants.
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