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(SnapBots News Review) Top Cryto News of the Week

Here is a summary of this week’s news.

1) After a 5-Day Losing Streak, Bitcoin Spikes to over $52k

After a sharp drop that shocked the entire cryptocurrency market, Bitcoin rose for the first time in six days. Since then, the crypto market also started to flourish, a series of other cryptocurrencies also reversed with an average increase of 3.7% during the day. Read more.

2) Tesla Sold a Portion Of Its Bitcoin (BTC) and Noted a $101 Million Profit

Tesla Motors sold a portion of its Bitcoin (BTC) holdings in the first quarter of 2021, generating net proceeds of $272 million, accompanying its quarterly financial results. Elon Musk, early-stage investor, CEO, and product architect of Tesla, Inc, says Tesla sold bitcoin to prove liquidity as cash alternative. Read more.

3) Iran Allows Officially Mined Crypto to Pay for Imports.

The Central Bank of Iran is authorizing banks and currency exchanges to use cryptocurrency to pay for imports. Licensed crypto miners are required to sell their coins directly to the central bank. Read more.

4) 3 Things You Should Be Aware of Derivatives Exchanges

There are three things that any crypto trader should be aware of when it comes to derivatives exchanges. Read more.


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Relatively new crypto-enthusiast | Exploring the world of altcoins, blockchains, and trading | Not a financial advisor | Follow me on Twitter: @crypton15610517

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