Welcome to the Uphold Update. Weekly top stories all about what's happening in the crypto market and at Uphold.
The crypto market moves fast and at Uphold we know how important it is for our users to stay on the pulse of shifting trends and market changes. The last few weeks have seen shifts in how companies integrate cryptocurrency into their business plan as coins like bitcoin start to increase again in value.
Here’s a recap of what happened this week:
Bitcoin Climbing Back Up
Bitcoin has been seeing an upswing over the last few days. With increased trading volumes and stronger rallies around the crypto, Bitcoin is expected to reach over $11K this week. (In fact, while this is being published the value exceeded $11,158 via to Coin Market Share.)
New Cryptocurrency for Amazon Shoppers?
Amazon has been exploring cryptocurrency interest in their current user base. According to a recent survey of 1,000 Amazon customers, more than half of the (51%) respondents were happy with the idea of an Amazon-created cryptocurrency. There was very little opposition: only 1 in 5 opposed the idea. For Prime users enjoying 2-day shipping and digital content, 58.7% want a cryptocurrency integration.
Real Estate In Southern California Selling With Bitcoin
It’s been over a year since the first purchase of a home for bitcoin happened in Southern California, and the trend is on the rise. Why? Cryptocurrency allows people to send large amounts of money without the middlemen, and accepting bitcoin offers a new marketing advantage for real estate agents. Plus, the risks of changing values--both for the cryptocurrency and for the property--make it an equal risk transaction for buyers and sellers.
Predictions for the Future of Cryptocurrency
It’s no surprise that leaders in tech, engineering, and futurism have different philosophies on how the cryptocurrency craze will evolve. Bill Gates, former CEO of Microsoft, made comments on Reddit this week that cryptocurrency is “super risky” in the long term. His concern with Bitcoin’s history of illegal activity without any middleman institution to regulate make him unsure of how it could stabilize in the future.
However, many on social media--including top crypto experts--were quick to correct Gates’s assumptions. In a separate interview, futurist and author Thomas Frey said the lack of a middleman is exactly what is appealing to investors. Frey predicts, “cryptocurrencies are going to displace roughly 25% of national currencies by 2030. They’re...much more efficient, the way they run.”