Tesla sells $272 million of Bitcoin, but Elon Musk is still HODLing

The global crypto market cap is $2.07 trillion with a 24-hour volume of $152.56 billion. The price of Bitcoin is $54,925.79 and the BTC dominance is at 49.5%.

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by Shaurya Malwa

American electric vehicle and clean energy company Tesla has sold nearly $275 million worth of Bitcoin months after a landmark $1.5 billion investment, it revealed in a filing yesterday.

The sale meant Tesla cut its position by 10%, adding over $101 million to its revenues in total.

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Gemini and Mastercard to launch crypto rewards credit card this summer

Crypto exchange Gemini has partnered with payments giant Mastercard as the exclusive card network for the platform’s upcoming “first-of-a-kind” cryptocurrency rewards credit card, according to an announcement published today.

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XRP pumps 22% in a single day as sentiment continues to grow

XRP, the world’s fourth-largest cryptocurrency by market cap, surged by 22% today on the back of positive sentiment relating to an ongoing case with the US Securities and Exchange Commission (SEC), data from multiple sources showed.

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Korea’s financial watchdog orders employees to disclose crypto holdings

The chairman of South Korea’s Financial Services Commission (FSC), Eun Sung-soo, has ordered the regulator’s employees involved in digital assets-related policymaking to disclose their crypto holdings by May 7, local outlet The Korea Times reported today.

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YouHodler is giving away a 2021 Tesla Model Y in honor of Bitcoin pizza day

In honor of the upcoming Bitcoin Pizza Day on May 22nd, and inspired by Tesla CEO Elon Musk’s recent crypto investment, YouHodler is giving away one brand new Tesla Model Y to one lucky client for just $1,000.

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Americans say cryptocurrencies have a ‘negative’ impact on their relationships

In a recent survey, 60% of US investors reported a decline in the quality of their personal relationships after being involved in the crypto sector, a report on Bloomberg pointed out Sunday.

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San Francisco Sheriff’s Department bought the recent Bitcoin dip

Bitcoin’s mainstream adoption is picking up fast.

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Ad: Losing track of daily crypto developments? Enter Coin News, a one-stop mobile app

Cryptocurrencies are infamously notorious for several reasons. There’s the scams, the politics, the in-fighting, the regulations, the pump and dumps, and the myriad other things that occur within the sector on a daily basis.

But one reason remains understated—that of the steady pace of developments and new technological advancements introduced seemingly every hour. There are new yield farms to dip toes into, new coins to ape into, new research to ponder upon, and new ecosystems to consider about.

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OG Bitcoiner disses ‘legal tender’ and shares why NFTs are never going away

Most people forget that “money” started out as stones and rocks, to seashells and salt, whenever it was initially conceptualized thousands of years ago. It was only a few hundred years ago that ‘paper’ money and government-issued tender became commonplace for the transfer of value.

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Disclaimer: None of the content in this newsletter is meant to be financial advice. Please do your own due diligence before taking any action related to the content within this article.