The Wild West Crypto Show got off to a rollicking start with the news that the markets are up — and so they are, as the major indices indicate. The S&P 500 and the Dow are still climbing from their lows in March, and precious metals, particularly gold and silver, continue their ascent, albeit with some correction. Cryptos are up too. Notably, Bitcoin’s rising trajectory continues. After “air-kissing” $12,000, the price of the premier cryptocurrency has dipped but is still well above March’s nadir.
This week show hosts Drew Taylor and Brent Bates brought in Bo Polny to liven up their Daily Country Mile update. The crypto seer did not disappoint. He unveiled the seven-year Gold Cycle and Noah’s New Era Timeline, which, he informed viewers, were both written by God. This segment of the show was followed by the rather secular Weekly News Update, presented from the newly refurbished studios of Investor Brand Network by Jonathan Keim, communications director of CryptoCurrencyWire.
Keim kicked off his report with the eye-catching news that Grayscale was debuting a new TV campaign focusing on the history of money (http://nnw.fm/lwCDB). Grayscale Investments, reportedly the world’s largest digital currency asset manager, is launching an advertising “blitzkrieg” to raise awareness of its products. The company provides a suite of investment products based on crypto assets that includes Bitcoin Trust, Bitcoin Cash Trust, Ethereum Trust, Ethereum Classic Trust, Horizen Trust, Litecoin Trust, Stellar Lumens Trust, XRP Trust, Zcash Trust and Grayscale Digital Large Cap Fund. The campaign will “illustrate how money has evolved over thousands of years” as well as how “we’ve ‘proceeded to wave goodbye to value, printing unlimited amounts of money.’”
Next up, was the news that Coinbase now allows Bitcoin, Ethereum, and XRP holders to pay for goods directly from their accounts (http://nnw.fm/zo4s5). Coinbase, a large cryptocurrency exchange, has partnered with BitPay, the Bitcoin payment service provider, to allow crypto holders to become crypto consumers. The integration of the two companies’ APIs will allow Coinbase users to “spend bitcoin, ether, XRP, USD Coin and other major cryptocurrencies to pay for goods offered by BitPay-supported merchants, which include Microsoft, Twitch and the Dallas Mavericks.”
Keim’s final feature showed that transacting in Bitcoin has become part and parcel of everyday life: one million Bitcoin wallets are now being used every day (http://nnw.fm/0mYzg). It appears that Bitcoin use has risen, once again, to levels not seen since late 2017. At that time, the cryptocurrency was trading at around $20,000. Bitcoin transaction levels tend to correlate positively with its price, but only since 2018, says Glassnode, the Bitcoin analytics firm that examined the data. Other factors — including increasing awareness and the potential to be a hedge against inflation — have historically influenced transaction volume, as indicated by the number of active addresses.
To view the most recent episode of the Wild West Crypto Show, now on TV in 45 cities across the nation, including its ongoing segment from CryptoCurrencyWire featuring the latest news from around the world, visit http://nnw.fm/nhGE1
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