The most outstanding news of the week occurred within the framework of the Bitcoin Conference 2022, an event that took place from April 6 to 8 in the city of Miami, United States, where an important group of personalities from the ecosystem met. There, a “Declaration of Monetary Independence” was presented, with 27 statements about the current monetary situation and 29 distinctive properties of Bitcoin, which was signed by the attendees.
Meanwhile, the bitcoin price managed to hold above $45,000 in the early days of the week, though it did dip slightly afterwards. The weekly rise of the cryptocurrency is estimated at 7%. At the time of this writing, the cryptocurrency is trading at USD 41,128, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.
These are the most important news:
- CriptoNoticias was present at the Miami Beach Convention Center, where the Bitcoin 2022 Conference was held. There, a gigantography surprised visitors. This is a “Declaration of Monetary Independence” presented by Mark Maraia, Mike Hobart and Ulric Pattillo, contributors to Bitcoin Magazine. The initiative revealed the sentiment of many bitcoiners: “that central banks and governments around the world have abused their exorbitant privilege to print money.” They propose a new way of doing things without it spelling the end of the US dollar.
- One of the most anticipated participations in the conference was that of the president of El Salvador, Nayib Bukele. However, the president he suspended his assistance at the last minute due to “unforeseen circumstances” that required his “full-time” presence in his nation. On the other hand, it was also learned that a small private city called Próspera, in Honduran territory, adopted bitcoin as legal tender, in what represents another step in the irruption of the first cryptocurrency in the monetary system of the countries. Joel Bomgar, president of the company Honduras Próspera Inc., is carrying out the project.
- Investor and entrepreneur Peter Thiel, co-founder of Paypal and member of the board of directors of Facebook, said that it is always difficult to know where the price of bitcoin is going, but what he can see is that it is the most honest market in the world. This is because its supply and demand is controlled by the users themselves, and not by a central entity. “Central banks are bankrupt and we are at the end of the fiat currency regime,” he said. Meanwhile, the US SEC announced the approval of Teucrium’s Bitcoin Futures Exchange Traded Fund (BTC ETF) on NYSE Arca. The fact has given reason to think that a spot or cash ETF could be approved soon.
- In Russia, the first deputy chairwoman of the Central Bank, Ksenia Yudaeva, rejected the proposal of Anton Gorelkin, a State Duma deputy from the ruling United Russia party, of using bitcoin and other cryptocurrencies to evade the sanctions imposed on the country. The official assures that transfers of large amounts of money in cryptocurrencies by Russian companies would not be possible due to the surveillance established by Western countries. And just in that sense the European Commission ruled, which this week launched another package of measures prohibiting “providing high-value cryptoactive services to Russia.”
- From the beginning of 2021 to date, bitcoins locked in decentralized finance (DeFi) protocols have tripled. Information portal data defillama.com show that the value locked on the Bitcoin RSK, Stacks, and DeFiChain side networks exceeds $1.35 billion. These figures are striking considering that, so far, Ethereum dominates the field of DeFi. Meanwhile, in a Bloomberg report, technology specialist Olga Kharif talks about how vulnerability to 51% attacks and voluntary and involuntary forks could be the biggest evils affecting Ethereum when the date approaches the merger to 2.0.
- Blockstream announced its partnership with Tesla, Elon Musk’s company, so that this provide solar power to your Bitcoin mining farm. The plant will be installed in the United States with the help of Jack Dorsey’s Block Inc. The idea is to mine the cryptocurrency with renewable energy on US soil. For this, the company of the tycoon Elon Musk will be in charge of supplying the Tesla Solar PV solar panels.
If you want to know the meaning of several words of the terminology of the crypto world, you can consult them in the extensive Glossary of CriptoNoticias. Here’s a little sneak peek with the word ROMO.
Weak Hands: literally, “Weak Hands”. It refers to a cryptocurrency investor who is carried away by emotion or panic when buying and selling, easily getting rid of his holdings.