The price of bitcoin is now $8,656.00 That’s right. 1 Bitcoin equals approximately $8,656.00 at the time of this writing. The price of bitcoin continues to stay volatile but is expected to stay within its current range over the course of the upcoming week.
The cryptocurrency community is still here and continues to find ways to bring more value by tapping into this technology.
Market sentiment continues to remain bullish.
Let’s look at some of the interesting events that took place within the past week.
Jack Dorsey On GlobalCoin and Bitcoin
Dorsey reiterated his support for bitcoin in a recent interview.
When asked about GlobalCoin, he insisted that he would need to see the result prior to commenting further. In addition, Dorsey stated that it is necessary to have “a currency for the internet, the internet being an entity that isn’t controlled by any company or any one government, that is for the world for the people of the world”.
This is in line with the disintermediation ethos of the bitcoin whitepaper and speaks volumes as to why many are a fan of the Square Crypto Initiative and use the Square app to purchase their bitcoin.
Nevada Passes Blockchain and Digital Asset Bills
Forward thinking states such as Nevada are leading the way with blockchain related bills.
The state is vying to be one of several states to be a leader in the blockchain sector, helping to spur the economy and bring about further gains in productivity.
Indeed, it will take further incentives and clarity from the state for more companies and customers to get involved with the blockchain and digital assets in general.
The state passed bills such as SB161, SB162, SB163, and SB164.
All of these bills relate financial innovation and the emergence of the blockchain. The bills include the creation of a regulatory sandbox through a partnership with the Department of Business and Industry. The legislation includes, clarity in describing a public blockchain and how agencies should interact with this new technology, and clarifies that virtual currencies are intangible personal property, giving them personal property tax exemption.
While this is yet another small step by state governments, it is necessary for further progress in blockchain and virtual asset adoption.
Rhode Island and Blockchain
The northeastern state, Rhode Island recently announced its investigation into the utilization of the blockchain for increasing efficiency and overall effectiveness.
The state has also provided blockchain businesses with more clarity in regard to tokens in a few use cases.