Adoption Friday: Hottest Blockchain News of the Week
Hey everyone,
Welcome back to Adoption Friday with adoption news from around the world. In this week’s batch:
- 🌐 Gen Z & Alpha open to crypto pensions
- 🇺🇸 Wyoming proposes Bitcoin reserve
- 🌐 BlackRock CEO predicts $700k Bitcoin
- 🌐 Binance’s P2P remittances hit $26B
- 🇺🇸 Memecoin ETFs on the horizon
🌐 Gen Z & Alpha open to crypto pensions
A report by Bitget Research found that 20% of Generation Z and Alpha are open to receiving pensions in cryptocurrency, with 40% of these age groups already investing in cryptocurrency. This reflects a shift in how younger generations view financial planning, showing a preference for decentralized finance and blockchain-based solutions. However, the report also acknowledged obstacles to widespread crypto adoption, including price volatility, regulatory uncertainty, and cybersecurity threats. Despite the interest in crypto, industry insiders are optimistic about growing adoption among institutional and retail investors due to increasing regulatory clarity and soaring cryptocurrency valuations.
Our take: The younger crowd is warming up to crypto in a big way but those regulatory hurdles need tackling first.
Read more here.
🇺🇸 Wyoming proposes Bitcoin reserve
Wyoming has proposed a bill to create a Strategic Bitcoin Reserve, allowing the state to invest a portion of its funds in Bitcoin. This move is led by Senator Cynthia Lummis, an advocate for Bitcoin, and it follows similar proposals in other US states. The bill specifies that no more than 3% of certain state funds can be allocated to Bitcoin, and if the value exceeds this limit, sales are not required. This development coincides with speculation about the potential for a national Bitcoin reserve under the new presidential administration.
Our take: Wyoming’s going all in on Bitcoin. It’s an exciting step that could set off a wave of similar moves by other states!
Read more here.
🌐 BlackRock CEO predicts $700k Bitcoin
BlackRock CEO Larry Fink believes that Bitcoin’s value could reach $700,000 due to global economic and political instability. He stated that sovereign wealth funds are considering allocating 2% to 5% in Bitcoin. BlackRock has also reported increasing interest in Bitcoin and has seen significant growth in its Bitcoin-related investments. Other industry figures believe that Bitcoin’s value could potentially reach “multiple millions” if it becomes a new global standard.
Our take: Fink’s bold call on Bitcoin’s future makes you sit up and listen. It could signal a massive shift in how Bitcoin is perceived on the world stage.
Read more here.
🌐 Binance’s P2P remittances hit $26B
Binance facilitated $26 billion in peer-to-peer remittances over two years, saving users $1.75 billion in fees. Binance Pay, the platform’s fee-free crypto transfer feature, has revolutionized global remittances and empowered over 500,000 women worldwide. This has greatly reduced the costs associated with traditional remittance methods and provided efficient and affordable ways for migrant workers to send money home.
Our take: Binance is totally changing the remittance game, making transfers easier and more cost-effective for millions. It’s a win-win for users worldwide.
Read more here.
🇺🇸 Memecoin ETFs on the horizon
The departure of former SEC chair Gary Gensler makes it more likely for memecoin ETFs like TRUMP, DOGE, and BONK to be approved. New SEC leadership could bring more liquidity and mainstream acceptance to memecoins, but experts caution about the high volatility and speculative nature of these tokens. Despite the potential for institutional investment, investing in memecoin ETFs poses significant risks for investors. The price performance of these coins is largely dependent on cultural participation and retail speculation.
Our take: Memecoins are inching closer to the ETF world, but tread carefully — these wild cards depend heavily on pop culture buzz and can be risky business!
Read more here.
And that’s it! What do you think about this week’s adoption news? Let us know in the comments!
