BTC Officially Becomes Legal Tender In El Salvador – September 7

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $51,097

Bitcoin price managed to creep as high as $52,919 overnight, however has retreated back to the $51,000 mark to begin Tuesday.

Top-20 altcoins have taken a hit over the last 24 hours, as Ethereum falls 5%, Cardano tumbles 8%, but Solana surges a significant 29%.

Top Stories for September 7, 2021 πŸ”₯

πŸ‘‰ BTC Officially Becomes Legal Tender In El Salvador

El Salvador has officially become the first country to adopt Bitcoin as legal tender, three months after its Bitcoin bill was passed in June.

Bitcoin will run in parallel with the US dollar, enabling anyone in the country to pay for goods, services and even taxes with the cryptocurrency.

The country’s government purchased its first 200 Bitcoins earlier this week, with president Bukele stating that many more purchases are yet to follow.

πŸ‘‰ New $25M Metaverse Fund Receives Backing From Huobi Ventures And The Chainsmokers

A new $25 million metaverse fund, OP Crypto Capital Management, has received backing from notable names including Huobi Ventures and even music group “The Chainsmokers”.

The fund seeks to invest exclusively in the nascent metaverse niche – an online world where users can buy virtual goods such as realestate, tracked on the blockchain.

πŸ‘‰ Kim Kardashian Criticized By FCA For “EthereumMax” Promotion

Celebrity Kim Kardashian has been criticized by the Financial Conduct Authority (FCA) for her promotion of a high risk spin-off of Ethereum, called “EthereumMax”.

FCA chairman Charles Randell explained that Kardashian did not disclose the speculative nature of the cryptocurrency, nor being clear enough that the promotion was a sponsored advertisement.