Satoshi Summary is a Cryptobellum exclusive named in honor of the pseudonymous creator of Bitcoin. It provides a weekly summary of the most noteworthy developments in the blockchain and cryptocurrency space.
The Bears Have Insomnia
Bitcoin has lost 40 percent of its value in the last two weeks
A dramatic turnaround from 2017’s gains
This is what the cryptocurrency market looked like this past week according to an article on CoinGape. It was overwhelmingly a sea of red.
Despite the recent significant market downturn, progress in the cryptosphere is moving forward. Bakkt will continue trading a bitcoin futures contract in January. Also, Bakkt’s plans with Starbucks to build an ecosystem for digital assets is still on track.
According to a recent article in Entrepreneur, investment firm, Temasek is looking to explore opportunities in both AI and blockchain, and recently they invested in Blockchain Software Company and enterprise blockchain software firm, R3.
In an unprecendented move, Ohio becomes the first state to allow businesses to pay their taxes in bitcoin. The bitcoin program was spearheaded by Ohio state treasurer, Josh Mandel. Apparently, Ohio is attempting to make itself more tech-friendly. Perhaps, the state will eventually be known as The Buckeye and Bitcoin state.
Arwa Mahdawi bitshamed herself for buying bitcoin late last year in this opinion piece for The Guardian Despite her frustration, she would do well to remember that Hal Finney, the very first person in the entire world to receive bitcoin in a transaction, speculated that the price of bitcoin could one day reach $10 million.