Global Bitcoin Adoption News

Global bitcoin adoption news weekly updated

Global Bitcoin Adoption News
February 9, 2024
Marius

Bitcoin circular economy

Feedback Adopting Bitcoin Cape Town and Bitcon Ekasi Fundraising

January 26-27, the first Adopting Bitcoin outside of El Salvador took place in Africa, more precisely in Cape Town South Africa. Together with Machankura, Bitcoin Ekasi and the support of the very vibrant South African Bitcoin community and Blink, we organized the first Bitcoin-only conference in South Africa with about 300 participants and speakers from all over the world. I myself was there for 10 days, my first time in Africa, and am still flashed by the trip and processing it. That will take a while yet. The whole conference was recorded and the videos of the Machankura Stage are on the Adopting Bitcoin channel on Youtube - if you want to watch it, I highly recommend it.Β 

After the conference, we visited the Circular Bitcoin economies Bitcoin Ekasi and Witsand. Bitcoin Ekasi is in Mossel Bay and was inspired by Bitcoin Beach. Similar to the Hope House in El Zonte, the Surfer Kids project has been running in Mossel Bay for over 14 years, since 2010, where Hermann Vivier, his wife Jenya and the Surfer Kids team have been teaching children from the township in Mossel Bay how to surf. But what many people don't know is that the Ekasi team also acts as a father figure for many children. 90% of children who grow up in townships grow up without a father or male caregiver. At school, these children are very often recognized by their performance, as they fall far behind those who grew up with an intact family including a male caregiver. So Surfer Kids is about much more than just a sports club.

In August 2021, the charitable project was expanded with Bitcoin and Bitcoin Ekasi was created. Children from the township learn surfing and Bitcoin, teachers receive their salaries in Bitcoin. Merchants in the township accept Bitcoin - closing the circle, similar to Bitcoin Beach. A really great project. I visited it myself for 3 days and took part in surfing and Bitcoin lessons and talked to mothers and children. Bitcoin Ekasi and Surfer Kids are a ray of hope in the midst of heartbreaking poverty. Now a piece of land has been found that belongs to the city council, right next to the world-famous Bitcoin Shacks where the twenty-one logo is emblazoned. The city seems willing to donate the piece of land to Ekasi so that a proper Bitcoin Community Center can be built there, as the current one is tiny and doesn't offer enough space. So we already have the land, now we need sats to build the community center. That's why the Bitcoin Ekasi crowdfunding went live yesterday to raise funds for the construction of the Bitcoin Community Center. If you would like to donate, you can do so at support.bitcoinekasi.com - every Satoshi donated does a tremendous amount of work here.

And if you want to experience an Adopting Bitcoin conference, you can do so for the first time in Europe on May 25, because the oldest Bitcoin Circular Economy in the world, Bitcoinstad in Arnhem, is celebrating its 10th anniversary - around 80 stores there accept Bitcoin, and have been doing so since 2014 - on this occasion, Adopting Bitcoin Arnhem will take place in the Netherlands. More information can be found at adoptingbitcoinarnhem.com

Fundraising link : https://support.bitcoinekasi.com/

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πŸ‡ΈπŸ‡» Nayib Bukele reelected president of El Salvador with 80%

Nayib Bukele, the incumbent president of El Salvador, secures a landslide victory with over 85% of the votes in the presidential elections. His party, Nuevas Ideas, also announces parliamentary dominance. Bukele, known for his authoritarianism and controversial security policies, still enjoys strong popularity due to the dramatic decrease in crime rates. In 2023, El Salvador recorded only 2.5 homicides per 100,000 inhabitants, down from 51 in 2018. However, his stringent measures have also drawn criticism over human rights and accusations of arbitrary arrests. Bukele's initiative to legalize Bitcoin has divided opinions, with mixed adoption in the country.

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πŸ‡ΏπŸ‡² Bitcoin Victoria Falls initiates fundraising campaign for Bitcoin education in Zambia πŸ“šπŸ‡ΏπŸ‡²

Novembre 24th 2023 - Bitcoin Victoria Falls, a project aimed at promoting Bitcoin education and adoption in Livingstone, Zambia, has launched a fundraising campaign to support its mission. πŸš€ The project, initiated by Adam Cowperthwait, plans to provide Mi Primer Bitcoin classes to University and High School students, as well as the general public, starting in early 2024. πŸ“† The funds raised will be used to pay teachersπŸ‘©β€πŸ«, print workbooksπŸ“š, host Bitcoin meetups, and facilitate various educational activities to promote Bitcoin knowledge and usage in the region. πŸ’±

Bitcoin Victoria Falls raised over 450 000 sats (200 dollars) 🌟

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Only 12% Used BTC in 2023 πŸ‡ΈπŸ‡»

January 17th 2024 - A study by the Central American University JosΓ© SimeΓ³n CaΓ±as revealed a significant decline in Bitcoin adoption in El SalvadorπŸ“‰, with only 12% of Salvadorans using it in 2023, compared to 24.4% in 2022. Issues with the government-promoted Chivo Wallet πŸ“±, including technical malfunctions and lack of user education about Bitcoin, are cited as major factors hindering adoptionπŸ› οΈ. Additionally, the study highlights a general mistrust and lack of motivation among Salvadorans to use BitcoinπŸ€·β€β™‚οΈ, despite various applications like purchasing food πŸ›’ and paying monthly bills πŸ“†

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What’s building on Bitcoin

Breez introduces FiatLink πŸš€

January 8th 2024 - Breez has launched a new tool called FiatLink πŸ’±, designed to make it easier for people to use fiat currencies in Lightning wallets and apps, which are used for Bitcoin transactions. πŸ“² Basically, this tool helps app developers to easily connect their apps to different money exchange services, making everything work together more smoothly. 🀝 For users, this means more payment options, simpler and faster transactions while still following important financial rules. πŸ’³

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Bitcoin finance

Bitwise becomes the first issuer to reveal its wallet address πŸ”

Bitwise has become the first issuer of spot Bitcoin ETFs to disclose its wallet address 🌐 (1CKVszDdUp4ymGceAZpGzYEFr4RPNHYqaM). Currently, they hold over 15,000 BTC, equivalent to $645 million πŸ’°. This move aims to enhance investor confidence by leveraging the full auditability and transparency features of the Bitcoin blockchain πŸ“Š.

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πŸ—½The United States is preparing to sell $130 million worth of Bitcoin (BTC)

πŸ‡ΊπŸ‡Έ The US government plans to sell $130 million worth of Bitcoin (BTC) seized from individuals involved in illegal activities, attempting to launder money through Bitcoin.

πŸ‘‰ The US government holds approximately 194,000 BTC, equivalent to $8 billion. This sale could signal a broader liquidation, potentially impacting the Bitcoin market. πŸ’°

πŸ” Bitcoin operates as a pseudonymous and traceable network, making seizures easier, contrary to frequent accusations of criminal use.

According to Chainalysis, only 0.34% of cryptocurrency transactions in 2023 were linked to illegal activities. In contrast, between 2.3% and 5.5% of the global GDP in fiat currencies is involved in illegal activities every year. πŸŒπŸ’ΈΒ 

βž• Know more about it in our article – Is Bitcoin for criminals?

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Core Scientific, a major player in Bitcoin mining, exits bankruptcy πŸš€

January 17th 2024 - Texas-based bitcoin mining company Core Scientific has announced its return to Nasdaq trading after a restructuring process following its 2022 bankruptcy. πŸ“ˆ The company plans to increase its mining capacity by over 50% within the next four years, πŸ’ͺ having reduced its debt by $400 million through debt-to-equity conversions. πŸ’° Core Scientific, operating mining facilities with 724 megawatts of power across five U.S. states, filed for bankruptcy protection in December 2022 amid crypto price drops and market failures. πŸ˜“πŸ“‰

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Spot Bitcoin ETFs Surpass Silver ETFs in Terms of Assets Under Management in the U.S.

January 19th 2024 - Bitcoin ETFs, upon approval by the U.S. Securities and Exchange Commission, immediately exceeded the assets of silver ETFs, hodling nearly $30 billion compared to silver's $11 billion, mostly because of the GBTC from Grayscale. πŸš€ This rapid accumulation positioned Bitcoin ETFs as the second most popular commodity-focused ETFs in the U.S., trailing only behind gold ETFs, which hold approximately $95 billion. πŸͺ™

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Spot Bitcoin ETF is approved, it might also impact Asia market πŸ‡­πŸ‡°

January 11th 2024 - The U.S. Securities and Exchange Commission's (SEC) approval of the first spot Bitcoin ETFs marks a historic milestone✨, signaling a major shift in the integration of Bitcoin into traditional financial markets. This move is expected to catalyze a significant influx of institutional investment into BitcoinπŸ’°, potentially elevating its market value and legitimacy as an asset class. The impact of this decision is anticipated to extend to Asian markets, particularly Hong Kong πŸ‡­πŸ‡°, which may follow suit in introducing similar spot crypto ETFs. This development represents a pivotal moment⏱️ in the broader acceptance and integration of Bitcoin within global financial systems. 🌍

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Bitwise has pledged to donate 10% of profits from their spot Bitcoin ETF to support Bitcoin open-source development. πŸŒŸπŸ’Έ

January 11th 2024 - πŸ’ΈBitwise Asset Management has pledged to donate 10% of profits from the Bitwise Bitcoin ETF (BITB) to support Bitcoin open-source development through non-profit organizations, CEO Hunter Horsley recognizes Bitcoin's "unsung heroes," the core developers who have maintained the cryptocurrency for 15 years, and emphasizes the importance of their continuous support. πŸ‘ This commitment, lasting at least 10 years, aims to provide consistent funding for the dedicated open-source developers enhancing Bitcoin's security, scalability, and usability. πŸ“ˆ

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