According to data from Glassnode, a company that monitors the cryptocurrency market, the number of Bitcoin wallets holding at least one whole Bitcoin has crossed the million mark. This growth was most pronounced during the financial crashes last year, when investors bought Bitcoin en masse at a time when its price plunged by more than 65%.
Glassnode co-founder Negentropic said in his Twitter comments that the best time to buy Bitcoin is when "blood is flowing in the streets." He made this statement against the backdrop of a number of major bank failures in the US and the expectation that the US Federal Reserve (Fed) could pause interest rate hikes in the coming months.
It is important to note that one Bitcoin address does not always mean one person. Many crypto investors have multiple Bitcoin addresses, and some addresses belong to large institutions such as cryptocurrency exchanges and investment firms that own large amounts of Bitcoin.
UAE infrastructure for crypto is more ‘business-friendly’ than the US
Saqr Ereiqat, co-founder of Crypto Oasis, emphasized at the Dubai FinTech Summit that the infrastructure of the United Arab Emirates (UAE) is "ideal" for crypto businesses. Ereiqat claims that the UAE provides a favorable regulatory framework, advanced digital infrastructure, and has the ability to attract talents from around the world. In addition, he mentioned that there is significant capital available in the region, which could help crypto businesses in raising funds for their projects.
Ereiqat also pointed out the growing interest in the crypto sector in the UAE. The latest data shows that there are already more than 1,800 Web3 organizations in the region, with more than 8,000 individuals already working in the crypto sector.
Similar views were expressed by the CEO of Coinbase, Brian Armstrong, and the CEO of Ripple, Brad Garlinghouse, at the Dubai FinTech Summit. Both expressed their frustrations and concerns about regulations in the USA.
China launches national blockchain center to train half a million specialists
China recently launched a national blockchain centre with the ambitious goal of training more than half a million specialists in the use of distributed ledger technology (DLT). The initiative, which was officially unveiled on May 10, is called the National Center for Innovation in Blockchain Technology and will be based in China's capital, Beijing. The centre plans to collaborate with local universities, think tanks and blockchain businesses to develop the technology in the country.
The lead institution for the new centre is the Beijing Academy for Blockchain and "edge" computing, which has developed a blockchain called ChainMaker. This homegrown blockchain serves as a model for further development within the centre. ChainMaker has already gained the support of 50 domestic enterprises, most of which are state-owned organizations, including well-known names such as China Construction Bank and China Unicom.
Despite the ongoing ban on cryptocurrencies, China is actively exploring the possibilities of the digital economy. The country is also moving forward with its central bank digital currency (CBDC) project. The launch of the National Blockchain Center and its efforts to train more than half a million professionals in distributed ledger technologies are bringing new possibilities and opportunities in the digital world. Technology leaders and experts expect this initiative to provide further impetus for development in the blockchain field.