This week was a rollercoaster ride in the world of cryptocurrency and NFTs. From Michael Saylor and Kevin O’Leary sharing their insights on Bitcoin, to the surprising performance of XRP ETFs and SpaceX revealing its Bitcoin holdings ahead of its IPO. Not to forget, the popular NFT brand Pudgy Penguins is extending its partnership with Manchester City Soccer Club.
Let’s dive into the details.
Michael Saylor’s Bitcoin Perspective
Michael Saylor, CEO of MicroStrategy Inc., stated that Bitcoin would have been trading between $40,000 and $50,000 without his company’s involvement. MicroStrategy is the world’s largest corporate holder of Bitcoin, owning approximately 818,000 units. Saylor believes that even without his company, Bitcoin would have found success, but MicroStrategy’s involvement accelerated its price appreciation.
Kevin O’Leary’s Take On Bitcoin
Kevin O’Leary, the “Shark Tank” star, emphasized the need for a crypto bill to pass for Bitcoin and tokenization to move beyond the fringes for major institutional players. He believes that global compliance within the SEC through the passage of a bill will change everything. With the midterms approaching in November, O’Leary sees the present as the perfect opportunity to pass this bill.
XRP ETFs Vs Bitcoin ETFs
While Bitcoin ETFs saw a loss of $1.4 billion, XRP-linked funds attracted $42 million. This stark contrast in performance has left many wondering about the future of these cryptocurrencies. XRP held near $1.37, down 1% on the day.
SpaceX’s Bitcoin Holdings
SpaceX, led by Elon Musk, revealed that it holds more than $1 billion in Bitcoin on its balance sheet. The company disclosed 18,712 BTC on hand as of March 31, recognized at a fair value of $1.29 billion. At current prices, this stash would be worth $1.45 billion.
Pudgy Penguins And Manchester City
The popular NFT brand Pudgy Penguins announced the extension of its collaboration with English soccer club Manchester City. This follows the successful launch of a limited-edition collectible and hoodie earlier this year. The brand promises to create exciting experiences at the intersection of physical and digital, bringing Pengu and Pudgy Penguins to City fans worldwide.
Binance In The Eye Of The Storm
Reports emerged over the week linking Binance to a covert payment network allegedly established by Iranian billionaire financier Babak Zanjani to fund Iran’s military forces. The company, however, has categorically denied these allegations. According to the report, Binance’s internal investigators concluded that the accounts in question were part of a money-laundering network designed to fund the Iranian regime. The company, however, has rejected these claims, stating that the report is inaccurate.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image via Shutterstock
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