Back to all blog posts

This is our weekly blog going through all major news that happened during the previous week. Here are the main news of the week:

The Price

Price last week: $8100 US

Price this week: $7000 US, down 13.5%

The price decreased by $1100 dollars, a 13.5% decrease in value from the $8100 US of last week. The price dropped after two weeks of rising. Almost bringing the price back to the level it was at three weeks ago.

Bitcoin ETFs

The Bitcoin ETF proposed by the Winklevoss brothers had been rejected by the Securities Exchange Commission for the second time two weeks ago, but last week one of the SEC commissioners stated that there is no reason to not allow the Bitcoin ETF to go ahead.

This news would make it seem likely for one of the many proposed ETF’s to be approved in the near future.

Starbucks Accepting Bitcoin

Starbucks Accepting Bitcoin

Starbucks is working alongside Microsoft on a technology that would allow them to accept bitcoins as a payment.

The partnership that would make this possible is between Starbucks, Microsoft, Intercontinental Exchange, and BCG; the new company created by the partnership will be called Bakkt. The company would allow individuals and institutions buy, sell, store, and spend bitcoins. The expected launch date is November 2018.

Owner of NYSE Starting Bitcoin Exchange

The owner of the New York Stock Exchange (NYSE) is launching a Bitcoin Company and future contracts based on the Bitcoin.  Intercontinental Exchange (ICE), the company that owns the NYSE, claims that it aims to transform bitcoin into a trusted global currency with broad usage.

The goal is to enable companies to offer Bitcoin mutual funds, pension funds, and ETFs, as highly regulated investments.

Sources:

http://fortune.com/2018/08/03/starbucks-accept-bitcoin/

http://fortune.com/longform/nyse-owner-bitcoin-exchange-startup/