“While 2020 and 2021 are considered the years of bitcoin’s institutional adoption, in a new report Fidelity Digital Assets wrote that 2022 might be the era of adoption of bitcoin by sovereigns.
As more countries adopt bitcoin, other countries will be forced to as well even if they don’t believe in the investment thesis or adoption of bitcoin.
An outright ban will be difficult to achieve at best, and if successful, will lead to a significant loss of wealth and opportunity.
We also think there is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers.”
“Walmart filed seven trademarks at the end of December that signal its plan to make and sell virtual goods in the metaverse.
According to one of those filings, the big-box retailer also is exploring whether to offer users a cryptocurrency along with NFTs.”
“While the bitcoin options market has recently shed its bearish bias, some analysts remain unconvinced about the strength of the move owing to weak institutional demand and the cryptocurrency’s sensitivity to macro factors.
A good barometer is always the asset under management and inflows into crypto exchange-traded products and ETFs. So far we have recovered only $1 billion of inflows versus $4 billion that has left these products alone in January.
Amber Group said a continued rise in real or inflation-adjusted interest rates poses the biggest downside risk to bitcoin and risk assets, in general.”
“The firm is eyeing mobile gaming as the industry’s next big area of growth, hiring Steve Cho as its latest partner to help lead the fund in the right direction. Cho joins Mechanism Capital from Apple, where he led business efforts “to better understand NFTs and blockchain gaming” for the App Store.
Originally founded with a focus on decentralized finance (DeFi) in August 2020, the firm pivoted to blockchain-based gaming after a slew of home run investments in the sector, including metaverse platform Star Atlas, play-to-earn Ember Sword and guild giant Yield Guild Games.”
“Arif Alvi, currently serving as the president of Pakistan, called for additional training in emerging technologies including blockchain, artificial intelligence and cybersecurity while meeting with a delegation of blockchain technology experts.
In a Monday announcement, Alvi said Pakistan’s talent pool should be ready to meet the needs of the Fourth Industrial Revolution, which includes utilizing blockchain technology in the public and private sectors.
Pakistan’s federal ministries of finance and law have not legislated on a potential blanket ban of cryptocurrencies in the country, but the State Bank of Pakistan has reportedly argued cryptocurrencies like Bitcoin (BTC) are illegal and cannot be used for trading.
A report released by crypto analytics firm Chainalysis in October 2021 showed that Pakistan had the third-highest rate of crypto adoption behind Vietnam and India.”