Tesla starts accepting Bitcoin, Jerome Powell about BTC and ETF in Brazil
Tesla begins accepting Bitcoin
Tesla has started accepting bitcoin payments. Musk, whose title is now Technoking of Tesla, also confirmed that all “Bitcoin paid to Tesla will be retained as bitcoin, not converted to fiat currency.”
Musk further tweeted that the “pay by bitcoin capability” will be available outside the U.S. “later this year.” In addition, he also noted that his company “is using only internal & open source software & operates bitcoin notes directly.”
Tesla first revealed its plans to accept bitcoin payments in a filing with the U.S. Securities and Exchange Commission (SEC) last month, when it also informed the regulator that it had purchased bitcoin worth $1.5 billion.
Jerome Powell: “Bitcoin replaces gold, not the dollar”
Federal Reserve chair Jerome Powell said he sees Bitcoin and other cryptocurrencies more as gold replacements than something that could take the place of the dollar.
Powell said Bitcoin and other cryptocurrencies were volatile and speculative assets that served to replace another speculative asset: gold. He said that they weren’t useful stores of value or used in payments.
“Crypto assets are highly volatile — see Bitcoin — and therefore not very useful as a store of value, and they’re not backed by anything.”
Powell made the remarks at a conference organized by the Bank for International Settlements, known as the central bank for central banks.
Source: The Street
First Bitcoin ETF in Latin America
Brazil’s first Bitcoin ETF is looking to raise some $90 million to buy BTC in anticipation of the official launch of the product.
QR Capital made history after Brazil’s Securities and Exchange Commission (CVM) approved its application for a Bitcoin ETF, becoming the first of such in Latin America. The 100% Bitcoin ETF would trade on the Sao Paulo stock exchange, B3, under the ticker QBTC 11.
While trading is scheduled to commence in June 2021, the company behind the Bitcoin ETF stated that it was aiming to raise 500 million BRL ($90 million) to acquire bitcoin, according to a Forbes report.
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