3 min read

Bitcoin/Crypto September Update

Up to date news on Bitcoin and Cryptocurrency for September.
Published on
October 4, 2022
Contributor
Cryptoveritas
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Even thought things seem bleak in the crypto world there is always a lot going on behind the scenes to help the adoption of Bitcoin/crypto. When the time comes the people will have a choice as to what financial system they want to choose and it will be easier then ever transfer money/stocks from fiat to Bitcoin/crypto. A lot of people see the negative side of crypto from the news and are nervous about the regulations and user information governments are trying to seek out through exchanges but there are faa US judge just passed an order against the IRS to allow users to sue them for collecting data on their exchange trades. 


One of the main ways the masses will flood into crypto is through their investments. A lot of investment companies/exchanges such as Blackrock and Nasdaq are opening the doors for investors to move assets into Bitcoin or crypto. Another way investors will be able to move assets to crypto is through the Retirement Savings Modernization Act which allows Americans to invest in crypto through their 401k.

There are some people who will need to see approval or interest from governments and government agencies before they jump in but that is also happening. The Netherlands for example just allowed regulatory compliance to one of the biggest exchanges in the world Coinbase. Also in Colorado residents can now pay state taxes in Bitcoin although I don’t know why anyone would want to give up their BTC. 


  We are starting to see more and more countries jump on the train as well. For instance Israel just granted its first trading license for Bitcoin to a local exchange. I know it seems like a small feat but more and more countries are enabling their citizens to buy crypto making adoption easier. Eventually more countries will start to follow countries like Russia where they are going to accept cross border payments using crypto. The end goal of each country is to be like El Salvador and Central African Republic where they have made Bitcoin legal tender in their country allowing their country to purchase everything with BTC. 


What about how bad Bitcoin is for the environment from mining? Well more and more we are finding out that this is bogus. Mining companies are either using green energy such as geo thermal from volcanos, hydro from massive waterfalls, or tidal from coastal areas just to name a few. Russia has just set to allow regions with hydroelectric and Nuclear Power to mine cryptos. Mining companies are also using the methane from natural gas emissions to power their mining operations.


The most telling sign of where we are right now in the markets and that their will definitely be greener days ahead is when you see the wallets who hold lot of Bitcoin/Crypto continue to accumulate large amounts whenever the markets dip usually due to outside news such as rate hikes from the federal reserve. We are definitely in an exciting time where we are witnessing the end of the financial legacy system and the birth of a new financial system which looks to be more on the side of financial freedom and individual sovereignty.

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