News Roundup: What a Day to Shoot for $70k

Bitcoin is having a way better year than a lot of people could have hoped for and we’re living for it. Sometimes, there can be a lot of anxiety when you hold BTC for long but things always stabilise and pan out nicely. Without wasting any time, here’s what Bitcoin and the rest of the crypto world have been up to: 

$61,000 off the Bucket List 

Bitcoin keeps shooting through these milestones and it’s wild because we celebrated 6 million late last year, and now, we’re at ₦36 million. Looks like those Bitcoin predictions weren’t crazy after all 😂. So what next? A cool ₦40 million (around $70,000) would bang right now, so let’s see how it goes. 

The Bitcoin 10-Year Sprint

No surprise there, but Bitcoin is the highest performing asset in the last 10 years with an average annual return of 230.6%. To blow your mind even more, Bitcoin has had a cumulative return of about 20,000,000% in that period. To compare, the Nasdaq 100 which falls in second place has had an average annual return of 20% in the last 10 years and a cumulative return of 541.3%. So yeah, Bitcoin is nobody’s mate. 

Crypto Adventures of Sophia the Robot 

Non-Fungible Tokens (NFT’s) are the thing many don’t understand, but are suddenly taking the world by storm. From football clubs creating their own NFTs to artists selling their art and music as crypto tokens on a blockchain. This week, we have a new contender. Remember Sophia the robot, the world’s first robot citizen? Well, it’s selling its own NFT. If this isn’t straight out of a Harry Harrison dystopian novel, then I don’t know what is 🚀. 

A $69 Million NFT???

Even though NFTs have been around since as far back as 2018 when Cryptokitties collectibles were selling for $100,000, they just went mainstream. While some people have seen some success, some others are the true whales in this NFT game. One such person is Mike Winklemann, also known as Beeple, a US-based graphics designer who recently sold ‘everydays’, a beast of an NFT for $69 million. One of the best parts of this is that this sale has made his other art pieces more valuable. So people who bought his art earlier can sell it for millions. 

Are Things Going South?

There’s a crypto awakening happening globally and South African crypto firms want in. As companies in other countries demand proper regulation that increases customer trust in them, South African companies are pushing for the same. Some have threatened to take their business abroad if the government doesn’t do anything about the regulatory issues. Read more here.

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Quidax is an African focused cryptocurrency exchange that provides a simple platform for you to send, receive, store, buy and sell digital currencies. Our aim is to educate you about cryptocurrency. It should not be considered as financial advice. We recommend conducting your own research before deciding to buy, sell or hold any cryptocurrency.