Square and MicroStrategy Undaunted by Elon Musk’s Comments

Yesterday we reported from CryptoTrend that Elon Musk, CEO of Telsa, would have withdrawn his plans in favor of Bitcoin in the face of environmental concerns. The comment became one of the downward catalysts for the crypto leader, yet Square and MicroStrategy are not pulling out.

Square and MicroStrategy respond to crypto panic

Over the past 7 days, the leading crypto has declined by 13%, positioning itself below $ 50,000. Even though Bitcoin had been having a few rough weeks, it all broke loose on Wednesday afternoon, coinciding with Elon Musk’s comment.

As we previously reported, Musk reported that Tesla would stop accepting Bitcoin as a payment method given environmental concerns. Some in the crypto community called the CEO of Tesla a hypocrite after backing a Square study which claimed that, in fact, Bitcoin incentivizes renewable energy.

In this regard, Square’s CFO Amrita Ahuja assured the Financial News earlier today that the company currently has no plans to buy more Bitcoin at this time. However, they also have no plans to reassess where we are from a treasury standpoint.

Also, and as expected, Michael Saylor, CEO of MicroStrategy, took the opportunity to acquire more of the leading crypto.

Increase crypto regulation in Argentina

Local news outlet Buenos Aires Economico reported this week that Argentina’s Federal Administration of Public Revenues, or AFIP, ordered crypto exchanges and crypto firms to provide monthly reports of operations.

Therefore, anyone who provides a service linked to crypto must maintain periodic lists of all user accounts and identity checks of customers, as well as their income, expenses and monthly balance.

Azure Blockchain will disappear

Microsoft very quietly announced that it will deactivate its corporate Azure Blockchain service on September 10 and will not accept new implementations with immediate effect, without an official explanation.

It is worth mentioning that some of the customers using Azure Blockchain are Starbucks, Xbox, and even JP Morgan.

In a few lines …

DBS Group, the largest bank in Southeast Asia, announced that it will offer trust services for Bitcoin and other cryptos. Cara Delevingne has decided to create an NFT that celebrates her ownership over her vagina with the aim of raising money in her organization’s fight for women’s empowerment and LGBTQIA + organizations.

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