This is our weekly blog going through all major news that happened during the previous week. Here is the main news of the week:
Price last week: $6200 US
Price this week: $6400 US, up 3%
The price increased by $200 dollars, a 3% increase in value from the $6200 US of last week. The price increase is not a very significant price change and can be considered a regular price fluctuation.
While everybody is waiting for the Bitcoin ETF to be approved, a Swedish company listed the Bitcoin Tracker One (CXBFT), an exchange traded note (ETN) that can now be also traded in America.
An ETN is slightly different from an ETF, but they both allow trading of an underlying asset. These financial instruments can allow large funds to buy bitcoins in a legally compliant way.
Square Cash Opens Bitcoin Buying and Selling in all 50 States
Square Cash, an app that lets you pay friends instantly, has been slowly allowing users in the United States to buy bitcoin. This week the company announced that buying and selling bitcoin would be allowed in all 50 states.
The company’s CEO, Jack Dorsey, also founder of Twitter, has shown his positive views about Bitcoin in the past, and stated that he believes that the internet will only have one currency and that he believes it will be bitcoin.
Bitcoin Accepted for Bail in San Francisco
The U.S. Attorney Office ordered a man who was charged with hacking to pay bail in Bitcoin. The man got charged for hacking Electronic Arts was arrested at the San Francisco Airport on August 8th and was ordered to pay $750.000 US in Bitcoin or any other cryptocurrency for bail.