Elon Musk says BTC ‘will make it’ — 5 things to know in Bitcoin this week

Cryptocurrency Codex

This week in Bitcoin was pretty eventful. We had Elon Musk saying BTC ‘will make it’, a new report from Grayscale, and more. Here’s what you need to know.

The Best Bitcoin News

1. Elon Musk says BTC ‘will make it’

In a recent interview with Ark Invest, Tesla CEO Elon Musk said that he thinks Bitcoin is “on the verge” of becoming widely accepted. He also said that he thinks Ethereum is “promising”, but needs more development before it can scale.

2. Grayscale’s Q2 report shows strong institutional interest in crypto

According to a new report from Grayscale, institutional investors are still very interested in cryptocurrency. In the second quarter of 2020, Grayscale saw inflows of $905 million, which is nearly double the amount they saw in the first quarter.

3. A new study shows that most people still don’t understand Bitcoin

A new study from the University of Cambridge shows that only around 2% of the world’s population currently owns any Bitcoin. The study also found that most people still don’t really understand how Bitcoin works.

4. The US government is selling $50 million worth of Bitcoin seized from Silk Road

The US government is selling off about $50 million worth of Bitcoin that was seized from Silk Road, an online marketplace for illegal drugs. The auction will be held on August 22nd.

5. TRON Foundation acquires BitTorrent for $140 million

TRON Foundation has acquired BitTorrent, a popular file-sharing protocol, for $140 million. TRON plans to use BitTorrent to help build a decentralized internet.

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