China launches NFT marketplace, Microstrategy increases bitcoin holdings and strong crypto adoption in 2022

December 30, 2022

Crypto Market Update 30-12-22

Hello everyone and welcome to our last weekly recap of the year 🥳

As a New Year approaches, this is the time when most people think about changing something important in their lives in the hope of a better year, but… research shows ( that 80% of people abandon their New Year’s resolutions by February. As the saying goes, everyone's a millionaire where promises are concerned. 😁

At least we for now continue to keep our promise to give you the best news from space each week. Enjoy, you never know if next year we'll be those fake millionaires 😅

To business, this week with lots of interesting data 💼💵

🔴 China is launching its first state-backed NFT marketplace.

Xi Jinping's executive is not wavering on the global adoption of blockchain technology. Having long ago started trials in some of its major cities with a state currency issued on blockchain, now the world's second largest economy has taken another huge step in adopting the technology with the launch of the first state-backed NFT marketplace (more info). The marketplace, whose name translates to “China Digital Asset Trading Platform,” will be used to trade not only digital artworks, but also digital copyrights and property rights along with collectibles. 🇨🇳

🟡 MicroStrategy increases bitcoin holdings.

The North American software company, which is valued at 1.6 billion on the NASDAQ exchange, this week reinforced its place as the company with the world's largest bitcoin holdings following the latest acquisition of 2,500 BTC (more info), now holding a total of 132,500 BTC. It is not by accident that its founder Michael J. Saylor is said to be one of the most feared bitcoin bulls 🐂

🟢 Crypto adoption continues strong in 2022.

Despite challenging macro conditions, crypto adoption growth remained strong in 2022. As of November 2022, the number of crypto owners crossed the 400 million milestone, reaching 402 million. Determining causes for this adoption is the growing political and monetary instability in Latin American countries (more info), as well as other emerging economies. The lack of trust in people in power was actually the main inspiration for Satoshi Nakamoto to create bitcoin: “we have proposed a system for electronic transactions without relying on trust”. ✍️

And that's all for this year, in the hope that 2023 will bring remarkable developments to the space that will definitely affirm blockchain technology and crypto assets as added value in human interaction at a social, economic and financial level. 🍀

Wishing you all a prosperous and Happy New Year 🎉

See you in 2023 👋


Great job on learning something new today 🎉