Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Stock-to-flow creator doesn’t think Bitcoin’s bull market is done
Bitcoin’s price seems to have stalled below $60,000 after surging to all-time highs earlier in March. But on the bright side, Friday’s $6-billion expiration of options — a record-breaking sum — didn’t deliver the slump that some were dreading.
The ever-optimistic PlanB says that we are “nowhere near the end” of the bull run, tweeting: “Bitcoin is just getting started.”
YouTuber and derivatives trader Tone Vays also believes the best is yet to come, telling Cointelegraph: “While it is still possible for Bitcoin to make a lower low for the month in the $48,000 range, I believe we will go up to above $70,000 before June.”
In recent days, BTC plunged to depths of $51,212.85 — the lowest price seen in two weeks. Soon afterward, Michaël van de Poppe warned that BTC needed to regain the $53,200–$53,800 area to revive bullish momentum in the near term, or else more downside was possible. So far this weekend, that threat appears to have been averted.
Elon Musk says Tesla now accepts Bitcoin from U.S. customers
With tech stocks also taking a hammering at certain points this week, even Elon Musk’s announcement that Tesla now accepts Bitcoin from U.S. customers only delivered a temporary boost to BTC’s price.
The billionaire CEO and “Technoking” said that the electric vehicle manufacturer would hold on to the Bitcoin it accumulates through sales rather than convert it into fiat. He also confirmed that support for crypto payments would be rolled out internationally later this year.
Tesla’s decision to shun “fork products” such as Bitcoin Cash proved calamitous for BCH, which tumbled to new all-time lows against BTC.
But some experts have warned that snapping up a Tesla using crypto might not be a smart move… for now, at least. Ark Invest founder Cathie Wood has urged investors not to use their BTC for purchases until the Internal Revenue Service introduces some more sensible tax policies on crypto assets.
The U.S. currently regards Bitcoin as property rather than currency. This means that irrespective of whether you sell BTC for profit or use it to buy a shiny car, it’s considered to be a taxable event.
The NFT of record: New York Times raises $500,000 for charity in NFT column sale
It’s now time for our whistle-stop tour of NFT news. You ready? Here goes.
First up, a New York Times reporter got a pleasant surprise when he decided to try and auction off one of his articles as an NFT. Just one day later, it sold for 350 ETH (worth almost $600,000 as of Saturday) — with the proceeds going to charity.
Another big sale came when Twitter CEO Jack Dorsey sold a tokenized…