Although the current fair price of Bitcoin is $38.000, according to JP Morgan, its analysts also point to $150.000 for this cryptocurrency in the long term. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies and altcoins
📍JP Morgan believes Bitcoin price will hit $150.000 USD in the long term. Financial firm JP Morgan has released new predictions on the future price of Bitcoin, noting that the cryptocurrency could reach $150.000 per unit in the long term. However, JP Morgan's cryptocurrency team points to $38.000 as a fair current price for BTC, considering its volatility. This would be about 16% lower than its current price of $XNUMX per unit. $44.050.
At the end of 2021, JP Morgan analysts pointed out that the price of Bitcoin could reach $146.000 per unit, so the current long-term prediction is almost 3% higher than the one made last year.
Bitcoin and Blockchain Adoption
📍El Salvador to launch $1.000 billion Bitcoin Bond next month Alejandro Zelaya, El Salvador's finance minister, confirmed that the $1.000 billion Bitcoin Bond will be issued between March 15 and 20 of this year. During a interview In the program Face to Face, Zelaya specified that the Bitcoin Bonus is a form of collective financing without intermediaries with which the construction of the Bitcoin City will be financed. The president of the country, Nayib Bukele, announced by the end of 2021, El Salvador will build a metropolis for cryptocurrency development, boosting hyperbitcoinization and the technological development of El Salvador.
Earlier this year, Bukele presented a total of 20 bills supporting the issuance and negotiation of the $1.000 billion Bitcoin Bond. According to Zelaya, the issuance of this bond could reach up to $1.500 billion, with an overbought amount of $500 million due to the optimism of the crypto industry in the country.
Metaverse, NFT and DeFi
📍The United Nations (UN) headquarters in New York will exhibit NFTs to celebrate International Women's Day. March 8th of this year, International Women's Day, will be commemorated with an NFT collection created by the Boss Beautie organization. The NFT collection will be the first to be exhibited from the UN headquarters in New York City. Boss Beautie's NFTs are available on the Opensea market, where they are traded for a minimum value of 2,29 ethers; about $7.400 at the time of this writing.
📍AssangeDAO DAO wins $53.000 billion Pak NFT auction AssangeDAO, a decentralized autonomous organization that was created just a week ago, managed to raise 17.422 ethers (about $56,3 million today) to defend the freedom of WikiLeaks founder Julian Assange.
With the money raised by its members, AssangeDAO acquired the NFT Clock, from the Censored collection created by Julian together with the anonymous digital artist Pak, which sold for 53 million dollars during the online auction. Clock is an NFT clock that is counting down the days that the Australian programmer has been in prison, accused of 18 counts of espionage and conspiracy against the United States. The DAO reported that the profits generated by the sale of the NFT will be used for Assange's legal defense.
📍Gucci buys virtual land in The Sandbox. Italian luxury fashion brand Gucci is making its entrance into the blockchain metaverse, just days away from creating an entire NFT collection in collaboration with the brand SuperPlastic. Gucci has purchased a plot of virtual land on The Sandbox, one of the most popular Ethereum-based metaverses currently, to build its own virtual world, according to a report by the blockchain developer. reported Vogue publication.
In 2021, the Italian firm collaborated with Christie's to auction its first NFT, created by its creative designer Alessandro Michele, inspired by its Fall/Winter 2021 collection and the 4-minute production AIR which opened the show. Gucci also launched digital items on the non-blockchain metaverse Roblox, where it has sold virtual handbags for as much as $4.100.
Rules and Regulations
📍Russia has plans to legalize bitcoin as a currency in the country. According to report posted by Kommersant, the Russian government and the Central Bank have agreed to regulate Bitcoin to allow its circulation as a currency and boost crypto mining in the country. The government will present a bill next week on the circulation of cryptocurrencies within the territory of the Russian Federation.
Russia plans to recognize cryptocurrencies, such as Bitcoin, as assets analogous to currencies, although it will not recognize them as digital financial assets (DFA). On the other hand, the country will implement a complex regulatory framework to ensure the security of users and investors and minimize the risks of crime and tax evasion. According to the media, cryptocurrency transactions equivalent to more than 600.000 rubles (about $8.000) must be declared compulsorily. Failure to do so will make such transactions a criminal offense, the agency said. Kommersant. Russian citizens would also only be able to access and trade cryptocurrencies through government-authorized agents, such as banks and financial institutions.
Although the Bank of Russia expressed its desire to ban cryptocurrencies and related trading and investment operations last January, the country's president, Vladimir Putin, he asked regulators to work in consensus to regulate the crypto industry, without forgetting the competitive advantages that the country has to lead Bitcoin mining.
Continue reading: US seizes over 94.000 BTC linked to Bitfinex hack thanks to blockchain transparency
