Bitcoin bonds in El Salvador, Morgan Stanley buys more BTC and Stripe considers accepting crypto

Photo by Executium on Unsplash

First Bitcoin bonds ever: $1 billion in El Salvador

He said the bonds will be available in 2022. He estimates the city’s public infrastructure would total about 300,000 BTC (worth about $16.8 billion at the time of writing).

The proposed city would not charge residents or businesses income tax, capital gain taxes, property tax or payroll tax. Instead, it would levy a 10% value-added tax on purchases to pay for city upkeep.

Source: The Block

Stripe considering crypto payments

Stripe ended support for Bitcoin payments in 2018, citing extreme volatility and a lack of efficiency in making day-to-day payments as reasons for dropping the top cryptocurrency.

Now he mentioned that blockchains like Solana and innovations such as Bitcoin’s Lightning Network have the potential to fulfil the role of scalable, low-cost crypto transactions.

Morgan Stanley funds increase Bitcoin exposure

For the period ending September 30, Morgan Stanley’s Growth Portfolio Fund, for example, added 1.5 million shares of the Grayscale Bitcoin Trust (GBTC). Similarly, its Insight Fund added nearly 600,000 shares over the period.

Other Morgan Stanely funds added exposure as well, suggesting that Morgan Stanley fund managers are becoming more comfortable adding Bitcoin to their portfolios.

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