El Bitcoin, Supportive Lawmakers, FUDy Seizures and 20 Crypto Jokes

What a week! The El Salvador President unveiled plans to give bitcoin the status of legal tender, and quickly the news shook the Cryptoverse that that will indeed officially happen in just 90 days, with lawmakers across Latin America expressing their support for bitcoin adoption, including the Ecuadorian Vice Minister of Economic Inclusion – with all this raising some existential BTC questions. Meanwhile, the Cryptoverse went fighting some major FUD after millions is BTC was seized, and after a US Senator made some BTC-related statements. Though Solana rallied on the news that the team had raised USD 314m, many crypto market indicators turned bearish, and while newcomers were selling, hodlers were accumulating. Kraken said bitcoin could consolidate or go lower while the bull’s resting, as ethereum remained in a “bullish uptrend,” MicroStrategy is testing the markets as they are raising more money for some BTC shopping, receiving some USD 1.6bn in orders, and US crypto investors raked in USD 4bn in realized BTC gains in 2020, more than 3x that of Chinese investors.

In Russia, a political insider wants the Parliament to discuss how Moscow could use cryptos to bypass Western sanctions, and senior lawmakers want a new law that would allow citizens to inherit crypto. South Korea is set to launch a fines system for insider trading and block exchange staff from using their own platforms for crypto trades, while the country’s police recovered ETH 1,360 stolen from an exchange in 2018. Meanwhile, the rainy season will test just how watertight China’s bitcoin mining ban really is, and Hester Peirce opposed her fellow regulators’ efforts to enforce strict regulation on crypto instead of promoting self-regulation, as Fed may have indirectly invested in MicroStrategy’s BTC drive. Meanwhile, six Coinbase users sued the exchange, seeking more than USD 5m in compensation, Bithumb is still up for sale but the recent market crash slashed its value by over 50%, and Ledger said it has “ambitious plans” in DeFi as it raised USD 380m, valuing the company at USD 1.5bn. And as this was all happening, the Seoul Arts Center employee was secretly mining ETH in the basement – until he was caught, that is.

And now is that special time of the week: jokes of the crypto variety.

__________

Heey, CT! How are you these days?

Caloric restriction and intermittent fasting are two longevity hacks that have the strongest scientific evidence.… https://t.co/SUkFBo1KfH
— Qiao Wang (@QwQiao)

Let’s see how our newest members are doing.

# “I started trading Crypto in January, and it’s been a very steep learning curve”
— PiQ (@PriapusIQ)

Market analysis.

@NeerajKA people are buying bitcoin because people are selling bitcoin because they think someone hacked bitcoin
— Andrew M. Bailey (@resistancemoney)

But there’s euphoria!

Wait, no worries, there’s a solution to this in the next entry.