Weekly News Roundup (09/11/19)
Welcome to our Snowball cryptocurrency media digest. Here we will provide you with regular updates on trending news from the blockchain and crypto space.
Major Corporations Continue To Adopt Bitcoin
Reports have surfaced recently that Burger King started accepting Bitcoin for online orders in Germany. This obviously got Bitcoin enthusiasts excited, but it was a timely reminder that the list of companies accepting the digital currency continues to get longer and longer.
Here is the latest list we could find (from June 2019):
→ Wikipedia, Microsoft, Expedia, KFC, Burger King, Overstock, Playboy, Subway, Virgin Galatic, Namecheap, CheapAir, Gyft, NewEgg, The Internet Archive, 4chan, Mega.nz, ExpressVPN, AT&T, Benfica.
These nineteen names are just major corporations. There are hundreds of other small businesses, both online and offline, that willingly accept Bitcoin as a payment option alongside cash and credit.
This week in crypto
Apple exec: ‘We’re Watching Cryptocurrency:’ Apple may not be fully on the crypto bandwagon like other tech companies, but it is keeping an eye on digital currency. “We’re watching cryptocurrency,” Jennifer Bailey, vice president of Apple Pay, recently told CNN’s Chief Business Correspondent Christine Romans at a private event in San Francisco. “We think it’s interesting. We think it has interesting long-term potential.” Read more.
Trump’s Trade War May Be Driving Chinese Investors to Bitcoin: Bitcoin is increasingly moving in an opposite direction to China’s currency — suggesting it may have become a refuge for people hedging the yuan’s depreciation. The biggest digital coin reached a record inverse relationship in the past week, according to a Bloomberg analysis of their 30-day correlation. Read more.
Jack Dorsey Says He Won’t Release a Twitter currency: Twitter founder Jack Dorsey has declared he has no interest in creating a digital currency similar to Facebook’s Libra, instead promoting the use of traditional cryptocurrency Bitcoin. Dorsey, who has long been a vocal Bitcoin supporter, said he believed the cryptocurrency pioneer was still the “best bet” to be the internet’s native currency. “I think open internet standards serve every person better than ones controlled or started by companies,” Dorsey said. Read more.
Facebook Libra Is Seeking to Register as a Payment System in Switzerland: The company set up to run Facebook’s Libra cryptocurrency project is seeking to apply for licensing as a payment system in Switzerland. Swiss financial regulator FINMA confirmed in a guidance note on stablecoins Wednesday that it had received a request for an assessment of how it would classify the Libra project as currently planned. The agency added that range of services projected by the Libra Association would need extra oversight. Read more.
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