News of the week: WallStreetBets causes a stir and BBVA starts buying and selling Bitcoin

This week the most outstanding information has to do with the repercussions and the movement generated around the WallStreetBets case, a group of small investors grouped in Reddit who decided to challenge large Wall Street companies by buying the shares of the chain of GameStop video game stores.

Bitcoin, for its part, experienced a series of ups and downs that caused its price to fluctuate between $ 30,000 and $ 37,000 . On average it loses 0.7% of its value in these seven days. At the time of writing this article, BTC is trading at USD 33,285, as reflected in the market price of Latin America and Spain, according to the CriptoNoticias price calculator.

With CriptoNoticias, Those interested can keep up to date on the changes in the market prices of bitcoin and ether in relation to their local currency. To do this, they can visit the BTC and ETH Prices section, which has a calculator to make conversions quickly and easily to their national currency.

These are the most outstanding news:

  • The chain of video game stores GameStop served as a reason for the confrontation between large financial companies of Wall Street and a group of retail investors. After it looked destined for bankruptcy from 2020, big investors bet the price would drop further by the end of January. But a coordinated effort by users of the reddit forum r / WallStreetBets who started buying the shares caused large investors to post losses on the order of $ 4.2 billion . By January 28, Wall Street fights back. The companies Robinhood, Interactive Brokers and TD Ameritrade, intermediaries for the sale of shares, announced that the acquisition of titles for GameStop was suspended until further notice. A representative of the WallStreetBets group published an open letter and made a declaration of principles before investment funds and traditional media, as well as inviting to reject the manipulation of the economy and finances by traditional institutions.
  • The exchange for bitcoin and other cryptocurrencies, Bittrex, announced the inclusion of the trading of the assets that were removed from Robinhood and other platforms, after the shares of GameStop soared. “We will continue to list additional stocks as other firms announce a delisting from their platforms,” ​​the company said. All this, while the SEC and even the White House promised to investigate the case. Simultaneously, new Telegram channels and hundreds of Twitter accounts were created, related to the decentralized forum that caused chaos on Wall Street. Jaime Rogozinski, founder of the famous WallStreetBets group, said in an interview that he never imagined that a case like GameStop would reach the White House. Meanwhile, groups of retail investors linked to the group bet on the increase in the price of Ripple’s Dogecoin and XRP cryptocurrencies, generating substantial increases in their prices.
  • Visa announced its plans to start working with exchanges and bitcoin wallets. According to its CEO, Alfred Kelly, the multinational is interested in offering its payment network for the cryptocurrency market. For its part, the Spanish bank BBVA, in communication with CriptoNoticias, reported that the operations of its service for the sale of bitcoin in its subsidiary in Switzerland is gradually being launched . Alicia Pertusa, BBVA’s head of Client Solutions strategy, highlighted that one of the bank’s priorities is to give its clients access to new cryptocurrency markets.
  • Amid the debate over the WallStreetBets case, billionaire Anthony Scaramucci, founder of investment firm SkyBridge Capital said the move with GameStop shares is a claim about decentralized finance and a proof of concept that Bitcoin is going to work . The position of the Governor of the Bank of England, Andrew Bailey, is different. In his opinion, innovation in digital payments is here to stay as a response to a global need, but he believes that this is not the case for cryptocurrencies. Meanwhile, a massive Bitcoin (BTC) dissemination campaign was launched simultaneously in Argentina, Chile, Colombia and Mexico this week. With the name It’s time for Bitcoin billboards are displayed on the streets and in public means of transport in order to arouse interest in people.
  • In the context of the claims that Craig Wright (self-proclaimed Satoshi Nakamoto) has been making, demanding copyright on the Bitcoin white paper, the document was hosted on the website of the e-Residence program from Estonia. The gesture has been replicated in other countries. In Colombia, Jehudi Castro, former Deputy Minister of Digital Economy, announced on Twitter that he published a link through the website of the government of that country, which redirects to the Bitcoin white paper. The government of the city of Miami, in the United States, also joined the wave of support for the free dissemination of the white paper . The same have been done by institutions that defend cryptocurrencies and recognized industry developers, who are sharing the text in PDF format.
  • The International Air Transport Association (IATA) revealed on January 25 that its platform blockchain would be ready for use from next March . He noted that he has developed a mobile application that will help passengers store their coronavirus tests and vaccine certifications. The tool, called Travel Pass , will digitally store the health information of each passenger , facilitating the verification of the data at the time of boarding.

If you want to know the meaning of several words of the crypto world terminology, you can consult them in the extensive Glossary of CriptoNoticias.

ELI5 (Explain it Like I’m 5): acronym in English for “Explain it as if I were 5 years old”. It is especially said when someone introduces a new technology or cryptocurrency to indicate that they must describe it in a much easier way.

Crypto tutorial of the week:

Phoenix is ​​a Bitcoin wallet that manages to integrate a fairly simple and intuitive user experience in a non-custodial Lightning wallet, which also allows managing funds within the Bitcoin blockchain. This makes it easy to interact with the Lightning Network payment channel network. This wallet is a real Lightning node that runs on your device. However, to make this possible, ACINQ developed a series of tools. In this tutorial we will focus on using Phoenix, from how to download and install such a wallet, to how to send and receive payments; either through the Lightning network, or within the Bitcoin blockchain.

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