Welcome to the second edition of “The Past Week in Crypto Adoption," a weekly recap of companies, institutions, organizations and individuals who are beginning to adopt crypto as a payment/work platform. With the crypto industry becoming more and more dynamic, this weekly report is meant to help you stay in the loop. The last few days saw crypto becoming more mainstream and being implemented by some of the world’s most prominent organizations across different industries.
The Past Week in Crypto Adoption: September 1st to September 8th
1) Steph Curry buys his first NFT
2) Twitter will reportedly allow users to add their Bitcoin and Ethereum addresses to their profile
3) Dolce and Gabbana prepares to release luxury NFT
4) El Salvador prepares to accept Bitcoin as legal tender
5) Bitcoin miners meet with oil and gas executives in Houston to power mining rigs with natural gas
After China banned mining Bitcoin, all those miners had to go somewhere to compensate for their losses and start somewhere new—with profitability in mind. Cheap energy is the number one factor miners look for, and they might have found just that by solving another problem in the meantime. Bitcoin miners held a meeting with energy executives, explaining to them how—instead of wasting the natural gas they find, and risk letting it become an environmental hazard—they can use that gas to power Bitcoin mining rigs. This solution solves two issues at the same time. Texas is seen as a key player in the mining industry after the China ban, and with its pro-crypto regulation and loose legislation on energy, it is poised to become a leader.
6) Twitter starts using the Lightning Network for “Tips”.
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