Week in review: June 11, 2021 - Largest crypto real estate purchase

A luxury penthouse in Miami has just been bought for $22.5 million using cryptocurrency. The transaction was closed weeks after the developer announced it would accept digital assets as payments. El Salvador has approved a bill proposed by President Nayib Bukele to recognize Bitcoin as legal tender in the country. Read the weekly round up below.

A Luxury $22.5 Million Miami Penthouse Was Sold in The Largest Crypto Real Estate Purchase To Date

Business Insider: June 8, 2021

A luxury penthouse in Miami was purchased for $22.5 million using cryptocurrency in what was considered to be the largest known cryptocurrency real estate purchase to date. The 5,067-square-foot unit comprises the entire ninth floor and offers a 360-degree view of Miami's ocean, shoreline, and cityscape.

El Salvador Looks To Become The World’s First Country to Adopt Bitcoin as Legal Tender

CNBC: June 7, 2021

El Salvador is looking to introduce legislation that will make it the world’s first sovereign nation to adopt bitcoin as legal tender, alongside the U.S. dollar.

Bukele broadcast his intentions on a video at the Bitcoin 2021 conference in Miami.

El Salvador Passes Law to Make Bitcoin Legal Tender

Decrypt: June 9, 2021

With 62 favorable votes, the Legislative Assembly of El Salvador has approved a bill proposed by President Nayib Bukele to recognize Bitcoin as legal tender in the country.

JPMorgan Sees Signal of Coming Bear Market in Bitcoin

BNN Bloomberg: June 10, 2021

The cryptocurrency’s share of overall crypto market value is about 42 per cent currently, down from roughly 70 per cent at the start of the year, according to data from tracker CoinGecko. For some analysts, that’s in part a sign of retail-driven investor froth lifting other coins.

Bitcoin Traders Eye ‘Crucial’ $38K Level as BTC Price Action Consolidates Higher

Cointelegraph: June 11, 2021

Bitcoin (BTC) traded in a higher range on Friday, with analysts keen to see which critical levels would fall next. A push higher had taken the pair to $39,000 before the consolidation phase began, but overall, Bitcoin was yet to make a decisive move up or down on longer timeframes.

Warren Buffett's Berkshire Hathaway Invests in Bitcoin-Friendly Digital Bank

Bitcoin.com: June 9, 2021

Warren Buffett’s Berkshire Hathaway Inc. has invested $500 million in the parent company of Nubank, a Brazil-based bitcoin-friendly digital bank, the South American company announced Tuesday. This is part of the bank’s Series G funding round which began in January.

Jack Dorsey Is All In on Bitcoin: Ethereum, Dogecoin and Other Coins 'Don't Factor In at All'

Decrypt: June 4, 2021

Twitter and Square CEO Jack Dorsey is a dyed-in-the-wool Bitcoiner—a man who has described the cryptocurrency whitepaper as “poetry,” who has a Bitcoin clock in his home, and has donated ample funds to accelerate Bitcoin adoption and development.

Bitcoin ETF Approval Is More Likely in 2022 Despite New Guard at SEC, Cryptocurrency Fund Manager Says

CNBC: June 10, 2021

The first exchange-traded fund based on the flagship cryptocurrency may not see approval for another two years despite what many saw as a favorable changing of the guard at the Securities and Exchange Commission, Osprey Funds founder and CEO Greg King told CNBC on Monday.

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ALT 5 Sigma covers fintech, blockchain, Bitcoin and cryptocurrencies bringing you the latest news and analysis on the future of money.