The new cryptocurrency policy was released in many places, and the average daily transaction volume of Bitcoin exceeded that of Apple

Release time:2022-03-13 09:12 source: 1274 views Mining

As cryptocurrencies become more widely accepted, many governments have issued many new policies.

After becoming the first country to adopt bitcoin as legal tender in the world last year, El Salvador last month announced the issuance of a $1 billion bond, half of which will be converted into bitcoin and the other half will be used for infrastructure and mining. The government of El Salvador hopes the bond will help create a "Bitcoin City."

El Salvador's finance minister said that the government is currently moving forward with legislation, and about 20 bills will be submitted to Congress to start the process. The bill will provide legal support for everyone who buys bitcoin bonds. He also believes that March 15-20 could be a good time to issue bitcoin sovereign bonds.

Zapala, Argentina will also provide new opportunities for Bitcoin miners. Zapala will receive a $20 million investment in bitcoin mining operations. This is the first bitcoin mining-related investment in the region, which aims to have 114 megawatts of installed capacity by 2023 to transform the region into a bitcoin mining hub. As we all know, the main cost of mining bitcoin is electricity, and Argentina's main selling point is to reduce the cost of electricity for mining bitcoin.

On March 11, the Bank of Israel also released draft guidelines for cryptocurrency deposits, requiring banks to conduct risk assessments on cryptocurrency-related businesses and formulate policies for the transfer of funds related to cryptocurrencies. If a service provider has obtained a license to service financial assets from capital markets, insurance and regulators, banks are not allowed to refuse it without reason, but should review it. In addition, the draft amendments will be finalized as guidance following input from the Banking Advisory Committee and public comments.

As cryptocurrencies become more widely accepted and driven by policy changes, Bitcoin’s trading volume has grown significantly recently, with its daily average trading volume nearly 60% higher than Apple’s. According to the data, the average daily trading volume of Apple stock reached 94 million shares, and its 30-day average price was $166.07. As of March 9, 2022, the observed average daily trading volume of Apple stock over the 30-day period was $15.6 billion. In comparison, Bitcoin’s average daily trading volume over the 30-day period was $24.73 billion, which means Bitcoin’s average daily trading volume is 58.42% higher than Apple’s.

Some experts predict that the price of Bitcoin will reach $ 100,000, "people's interest in cryptocurrencies is very high." Some people may initially invest in Bitcoin just for fun, but in the end, many people realize their dream of wealth through Bitcoin.

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