“I still own my Bitcoin, and I'm not going to sell it,” says Elon Musk, a signal for holding assets in high inflation times. MicroStrategy CEO Michael Saylor says “weak currencies will collapse”, referring to high inflation levels. Musk also stated that he included Ethereum and Dogecoin among his investments.
G7 Countries Implement New Crypto Sanctions Against Russia
The G7 countries are joining forces to ensure its effectiveness, with the Biden administration leading the economic sanctions against Russia for its invasion of Ukraine. Russia reportedly uses cryptocurrencies to maintain access to foreign capital and to evade and balance international “punishment”. However, the G7 countries are committed to taking measures to ensure that economic reflections are felt by Russia through "restrictive measures, breaking smuggling and closing gaps".
Bitcoin Owners Break All Time Record With Almost 40 Million Addresses
Although the price of Bitcoin has been slightly downhill since the beginning of the year, it has recently reached a new record of all time in terms of the number of addresses holding Bitcoin. As of March 14, nearly 40 million addresses have kept Bitcoin in their balance, IntoTheBlock announced on Twitter.
Austin to Support Texas Blockchain and Web 3.0 Technologies
According to an official government document, the Austin Mayor has directed the city manager to help create an effective government and community environment that supports new technologies such as Blockchain and Web 3.0.
European Parliament Votes Against Proof of Work Ban
The European Parliament's Committee on Economic and Monetary Affairs voted against a regulatory provision that could lead to a ban on Proof-of-Work mining. This provision was part of the regulatory framework surrounding cryptocurrencies in the European Union.
Digital Assets See Outflows This Week
Digital asset investment products saw a US $110 million outflow last week after a 7-week cash inflow. The highest outflow took place in Bitcoin with $56.9 million.
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