The Bitbuy Brief: Elon's Back?

Issue 152: Elon’s Back?

October 1st, 2021

Weekly Market Recap

Bitcoin and other major coins have rallied in the past 24 hours, seeing gains of 6-10% across the board. Over the 7-day period, coins are slightly down, in the ranges of 3-5%. This caps off an up and down week, after last week’s China ban confusion. If you are looking to buy or sell the market move, you can access your account.

Other Headlines & News

Cardano Partners With Chainlink to Drive Smart Contract Development for DeFi Applications- FX Street

Cryptocurrency Exchanges Scramble to Drop Chinese users After Beijing’s Ban- Reuters

Africa’s Fastest Growing Crypto Exchange, Yellow Card, Raises $15M Series A Funding- Newswire

Morgan Stanley Launches Cryptocurrency Research Team- CoinTelepgraph

Side-eyeing Chloe’ Clem to Sell Iconic Meme as NFT- BBC News

He’s Back: Elon Musk’s Latest Crypto Takes

It seems it’s been a while since we’ve heard from our favourite crypto-adjacent billionaire, Elon Musk.

The Tesla CEO was back in the news this past week, when he made several comments on cryptocurrency, in an interview at The Los Angeles Code Conference. Perhaps his most poignant comments, were about what he believes the US government should do about regulating the cryptocurrency space.

“I would do nothing,” he said. “Just let it fly”.

His reasoning for this was more around his concerns that over regulating the up-and-coming industry, could stifle innovation and move it offshore. He went on to say “It’s not possible to, I think, destroy crypto, but it is possible for governments to slow down its advancement”.

This seems to directly contradict the US government’s actual plans, as Gary Gensler, chair the SEC has recently been pushing for greater oversight.

Elon also shared his thoughts on China recently declaring crypto-related transactions illegal. He said, “It would appear they don’t love cryptocurrency. I suppose cryptocurrency is fundamentally aimed at reducing the power of a centralized government, and they don’t like that.”

Many experts pointed to China’s ongoing energy crisis as potential reasoning for the decision, but Musk believes it’s more about the power dynamics of an alternate financial system.

Finally, Elon commented on the fact that his tweets seem to move crypto markets. When asked if his tweeting about crypto was overall “a good thing”, he said, “If it goes up, I suppose it is”.

NFT Artist of The Week: D-Snow

Diogo Neves, most commonly know by his artist name, D-Snow, is from Toronto, Ontario. Born and raised in São Paulo, Brazil, Snow started his artistic career as early as a teen. With graffiti growing into his passion, he learned that his main source of inspiration was from art on the streets. This early influence has developed his style to become a mix of urban, and modern. His calibre has further expanded his portfolio to now include sculptures, cars, murals, boats and elaborate canvases. Snow uses a variety of materials to bring his work to life. These materials can range from spray paints and acrylics to diamond dust, and resin; elements that make his paintings unique and bold.

Snow’s rise to fame began when an owner of Luxury Real Estate commissioned him in early 2019 to paint a mural inside the Picasso mansion in Miami. The mural was amplified even further when it got featured in Tory Lanez’ music video. This snow-balled to him being chosen by Universal Music to create a tribute mural for Juice WRLD. Since then, Snow has created murals throughout Toronto, in collaboration with artist Daniel Mazzone. Snow was also the first artist to spray-paint a Ferrari in Canada.

D-Snow has worked with a ton of artists with most notable being Drake, Fetty Wap, Sean Paul, Bad Bunny, Justin and Hailey Bieber.

D-Snow is notably known in the NFT space for his Silver, and Gold Snow Bear collection, featuring a spray canister and floating Bitcoin. The collection can be interpreted as a tribute to D-Snow’s passion for graffiti, and cryptocurrency.

Wondering how to buy NFTs in Canada? Check out the Ultimate NFT Guide.

Refer Your Friends To Bitbuy, And Win Merch!

For a limited time, we’re giving away Bitbuy merch like hoodies, hats, t-shirts and more!

Just refer three friends using your regular referral link found in your profile, and you’ll automatically qualify for our draw to win a merch prize pack!

Here’s how it works:

1) Refer 3 friends to Bitbuy between now and October 31st, 2021

2) Once your referrals sign up and make their first deposit of $250 or more, you’ll both earn $20!

3) Once you make your third successful referral, you’ll be automatically entered to win a Bitbuy merch package.

We’ll be giving away one prize pack per week from now until the end of October!

Balancing Your Crypto Portfolio With Passiv

We’re happy to announce that Passiv has integrated with Bitbuy to make portfolio rebalancing easier. Check out our Support page for more info on the integration.

Clients can now build their own personalized crypto indexes and seamlessly manage them using Passiv. With Passiv, you can:

  • Set a target allocation for each coin in your portfolio
  • Allocate cash and rebalance your portfolio in one-click*
  • Exclude coins from your target portfolio
  • Get notified whenever your portfolio drifts

More information on the integration here.

Bitbuy Is Hiring!

Here at Bitbuy, we’re always looking for talented people to join the rocket ship!

If you know any qualified candidates, please encourage them to apply for the following job postings:

Intermediate Java Developer

Intermediate Mobile Developer

Email Marketing Specialist

Data Analyst

Visit this our website to see what positions we are actively recruiting.