This week was an astonishing one in the cryptosphere — and just about everywhere else. With both good news and bad news making top headlines, cryptos kept holding steady. The good news featured the stock market indices, which continued their climb for the 11th straight week in a row. The DJIA now floats high above 27,000, while the S&P 500 is running in the 3200s.
The bad news centered on George Floyd’s death as well as the vandalism that marred the protests that followed it. But the Wild West Crypto Show must go on, and it did, with hosts Drew Taylor and Brent Bates welcoming regular contributors Manny Alicandro, a New York City-based attorney who specializes in compliance, regulation and governance, and Jonathan Keim, communications director of CryptoCurrencyWire.
Keim started his trio of notable press reports with the news that Bitcoin IRA has released a new infographic to coincide with Bitcoin’s halving in May (http://ccw.fm/Vfm45). Founded in 2015, Bitcoin IRA acts as a custodian for Bitcoin held in self-directed Individual Retirement Accounts (IRA’s). Investor interest in adding Bitcoin (“BTC”) to IRA and 401(k) accounts has been on the increase, particularly in April and May as the cryptocurrency approached and underwent halving.
The infographic published by Bitcoin IRA shows why. After previous halvings, BTC has appreciated markedly. After the first halving in 2012, BTC price rose by 8,189%; in 2016, following the second halving, the value rose by an another 2,237%. Despite the uncertainty of present economics, many investors expect that the value of BTC will once again increase after the latest halving.
Next on Keim’s agenda was the headline that OKEx expects to double its employee count over the next two years (http://ccw.fm/Cy3lM). OKEx is said to be the largest and most diverse cryptocurrency marketplace in the world, offering facilities to trade spot in major cryptocurrencies, as well as in a range of crypto derivatives that include futures and options. The company is also launching a mentorship program in Europe. Christened the OKEx Beacon Program, the scheme will enlist six persons for a one-month exclusive mentorship with CEO Jay Hao and director of financial markets Lennix Lai.
Finally, International Spirits & Wellness Holdings (OTC: ISWH), a global brand-management holdings company, has announced it’s getting into the cryptocurrency mining business (http://ccw.fm/51sIs). The company is joined forces with Bit5ive LLC, a global leader in cryptocurrency mining and innovative turnkey mining solutions. The two companies are eyeing the Bitcoin technology market, valued at $293.66 million in 2019 and expected to reach $477 million by 2025.
For the latest episode of the Wild West Crypto Show, which includes CryptoCurrencyWire’s ongoing segment featuring the most recent news from around the world, visit http://ccw.fm/nMDe9.
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