This Week in Crypto: 23.02.2024

MXC Official
3 min readFeb 23, 2024

Hey there, crypto enthusiasts! Welcome back to This Week in Crypto, your ultimate source for the latest buzz in the world of cryptocurrency and blockchain technology. Get ready to dive into the hottest updates shaping the landscape of digital assets.

1- Maximizing Returns: Crypto Take-Profit Strategies & MicroStrategy’s Bitcoin Commitment
2- Visa and Mastercard: A Boon for Wallet Holders, a Threat to Crypto Exchanges?
3- Reddit Converts Excess Cash into Bitcoin and Ethereum
4- Exciting News from ETHDenver 2024 from MXC!

1- “MicroStrategy’s Michael Saylor: Bitcoin as the Ultimate Exit Strategy”

Michael Saylor, the Executive Chairman of MicroStrategy, reaffirms the company’s unwavering commitment to Bitcoin, despite its soaring valuation. With MicroStrategy’s substantial holdings of 190,000 bitcoins, valued at around $10 billion, Saylor emphasizes that Bitcoin remains the ultimate exit strategy for the company. He highlights the pivotal role of spot ETFs in driving institutional capital into the cryptocurrency ecosystem, positioning Bitcoin as a superior asset class compared to traditional investments like gold and real estate. Saylor’s steadfast belief in Bitcoin’s technical superiority underscores MicroStrategy’s transformative journey into becoming a ‘bitcoin development company,’ solidifying its dedication to the cryptocurrency.

2- Visa and Mastercard: A Boon for Wallet Holders, a Threat to Crypto Exchanges?

The recent collaboration between Web3 infrastructure firm Transak and credit card giants Visa and Mastercard marks a significant milestone in the crypto-fiat conversion landscape. This partnership enables users of crypto wallets like MetaMask, Ledger, and Trust Wallet to convert 40 cryptocurrencies into local fiat currency at over 130 million Visa merchant locations across 145 countries. While this development is hailed as a boon for crypto wallet holders, it poses a potential threat to centralized crypto exchanges (CEXs). Visa and Mastercard’s involvement in decentralized finance (DeFi) could reshape the crypto ecosystem, promoting broader adoption. However, CEXs still play a vital role in providing reliability, accessibility, and security, especially for novice users.

3- Reddit Converts Excess Cash into Bitcoin and Ethereum

In a surprising move, social news network Reddit has disclosed its strategy of allocating excess cash reserves to Bitcoin and Ethereum since 2022. While the amounts held are described as “immaterial,” this move underscores Reddit’s belief in the significant potential of crypto and blockchain technologies. Furthermore, Reddit has been experimenting with blockchain technology by purchasing Ether and Polygon’s MATIC as a form of payment for certain virtual goods. Despite concerns about security, loss of privacy, and financial centralization, Reddit’s foray into crypto signals a broader acceptance and integration of digital assets into mainstream platforms.

4- Exciting News from ETHDenver 2024!

Get ready for some thrilling news from ETHDenver 2024! We’re excited to announce that our very own Core Developer, Sheen, will be attending this prestigious event, which stands as the world’s largest Ethereum meetup. Mark your calendars for February 26th and join us for a day filled with invaluable insights from Sheen and ample opportunities to network and connect with fellow enthusiasts. Don’t miss out on this chance to delve deeper into the Ethereum ecosystem and be a part of the vibrant community at ETHDenver 2024!

Stay ahead of the curve as you immerse yourself in these groundbreaking updates. Remember to stay tuned for next week’s edition of This Week in Crypto. We’ll continue to bring you the latest insights and trends shaping the future of cryptocurrency and blockchain technology. Stay informed, stay empowered, and stay ahead of the curve with This Week in Crypto! 🚀

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MXC Official

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