Elon Musk Reveals He Owns ETH, SpaceX Holds BTC – July 22

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $31,907

Bitcoin price briefly broke through the $32,000 mark overnight, as the asset continued a strong recovery from its recent dive.

Top-20 altcoins have also continued to bounce back, as Ethereum gained 4%, XRP rose 3% and Stellar charges ahead with a 13% jump.

Top Stories for July 22, 2021 πŸ”₯

πŸ‘‰ Elon Musk Reveals He Owns ETH, SpaceX Holds BTC

Elon Musk has confirmed that he personally owns Ethereum, Bitcoin and Dogecoin in a discussion held at The B Word panel today.

He also revealed that SpaceX holds Bitcoin too, however did not disclose the amount of Bitcoin on the company’s balance sheet.

Musk added that Bitcoin had the potential to be the monetary system of the world if second layer systems are implemented correctly, and that SpaceX is “playing a role in this”.

πŸ‘‰ Bank Of Russia Advises Stock Exchanges To Avoid Crypto-Related Listings

The Bank of Russia has issued a formal recommendation to local stock exchanges, advising that they should not list crypto-related companies.

The letter elaborated that the guidance especially applies to stocks which rely heavily on cryptocurrency market prices, crypto funds or crypto derivatives.

πŸ‘‰ Paxos Reveals Stablecoin Reserves, Outshines USDT And USDC

Paxos has become the latest company to break down its stablecoin reserves, which include PAX and Binance’s BUSD.

The breakdown consisted solely of cash and cash equivalents (96%), while the remaining 4% is invested in US Treasury bills. The disclosure outshone both Tether’s USDT and Circle’s USDC, whose reserves contained a much smaller proportion of cash-equivalent assets – despite both companies previously claiming a 1:1 backing with US dollars.