Crypto Weekly: Entering unknown territory

Miners seem positive on Bitcoin upon the highest revenue recorded

Last month, Bitcoin miners recorded their best month in terms of revenue. The surge in miner revenue comes upon a higher Bitcoin price and an increasing amount of transactions on the network. In conjunction with a shortage in mining equipment, it has made Bitcoin mining increasingly profitable. The increasing profitability has made miners able to hold more Bitcoins on their balance sheet instead of having to sell them to fund their operation. There are strong indications that miners have taken advantage of this, as they are presently keeping a larger portion of their newly mined Bitcoins themselves. Bitcoins held in wallets associated with miners have increased by 4,435 Bitcoins in the past 2 weeks. Miners seem thus more positive on Bitcoin’s price movements. The question which should be raised in this context is what happens the day the table turns, and miners start selling their increased Bitcoin position.

The New York Stock Exchange releases NFTs

The New York Stock Exchange owned by Intercontinental Exchange joined Forbes, the Weekend, and Time Magazine the other day by releasing several non-fungible tokens, known as NFTs. The stock exchange released six respective NFTs, each symbolizing the first publicly trades of Spotify, Snowflake, Unity, DoorDash, Roblox, and Coupang on the New York Stock Exchange. NYSE President Stacey Cunningham said in a LinkedIn post: “At the NYSE, we love to celebrate moments. It seems fitting to launch our own NYSE First Trade NFTs as a new, fun way to mark the moment a company joins the NYSE”.

MicroStrategy to pay its board of directors in Bitcoin