Bitcoin reaching the highest value since 2018, congressmen wanting to ban bitcoins, fall in Dow Jones stock exchange, new retailers who accept cryptocurrencies, interview with the man who spent US$ 800 million in two pizzas. Check out the most shared news about cryptocurrencies in May:
Bitcoin threatens to “seize power” of the United States Federal Reserve
The bitcoin had presented again a strong rise and has been seen as a threat to the existing financial system and central banks. The proof lies in the recent news about the Democratic Congressman Brad Sherman in the US. He urged other lawmakers to consider the prohibition of bitcoins and cryptocurrencies in the country. According to Sherman, the assets present risks to the international financial power of the country. Additionally, Sherman claims that the currency can reduce the strength of the dollar as a standard unit of transactions and international finance.
Bitcoin arrives at Whole Food, a large food retailer
Since its launching on the market, ten years ago, the cryptocurrencies have been struggling to enter the traditional trading. However, this may soon change, thanks to a new initiative. Some well-known retailers – including Crate and Barrel, Nordstrom and Whole Foods, from Amazon – began to accept bitcoin and three other types of digital currencies. The retail initiative comes through a partnership between the payment startup Flexa and Gemini.
Meet the guy who spent US$ 800 million in Bitcoin in 2010 on two pizzas
As the bitcoin is a recent currency and still in the expansion phase, many people have already mixed up by the time they needed to perform bitcoins transactions. Laszlo Hanyecz – or better known as “the Bitcoin pizza guy”, is one of them. In 2010, by the time the cryptocurrency was still in the initial stage, he decided to buy two pizzas for 10,000 bitcoins. He was the first person to make the purchase of an asset with the coin. At the time, the value was corresponding unless a penny. However, almost 10 years later, the amount would be equivalent to US$ 800 million. Hanyecz gave his first TV interview since the incident and it was highlighted in the media.
Microsoft launches decentralized identity tool on blockchain of the bitcoin
Microsoft has announced the launch of the first decentralized and scalable identifier system in blockchain of the bitcoin. Thus, the structure will allow users to manage their own credentials, independent of any company. Called ION, the program is still in the testing phase. According to the company, the system will allow the users to have full control of their data.
Trade war and cryptocurrencies among the most shared news in May
On May 13, the rate of the bitcoin exceeded US$ 8.000,00 reaching the highest value since July 2018. According to Reuters, there is no foundational explanation for the currency rising. However, some analysts pointed out that the recovery of the bitcoin overlapped with the escalating trade war between the United States and China, which undermined the overall sense of market risk.