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Why Bitcoin’s popularity could soon fade away

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Bitcoin's popularity could soon fade away

Bitcoin’s smaller rivals are eroding its share of the $2 trillion digital currency market

Of the dozens snapping at its heels, most alternative coins have little use beyond financial trading, but very few investors seem bothered.

It’s led to analysts to raise a question “could bitcoin die” ?

Rise of alt-coins and more hate from Musk?

As the rise of Shib Coin, Dogecoin and Ethereum continue at rapid speeds, and Elon Musk swings some hate for Bitcoin’s environmental impact, the number one crypto could become a memory.

Ethereum, the worlds second largest digital currency has risen to all time highs over recent months, as investors gain momentum behind the crypto created by Vitalik Buterin.

Ether – as it’s also known by, has risen beyond $4,000 USD.

According to Forbes, an expert panel of crypto investors has predicted that the world’s second-largest crypto will rise to $20,000 by 2025.

The prediction comes due to the “major upgrades” that are set to be made to the Ether network potentially pushing it higher.

The rise of Shib Inu Coin

The “Shiba Inu coin” also known as SHIB coin or $SHIB is rising in popularity. Much like Dogecoin – it started out as a meme, but now crypto investors are seeing some potential.

Shiba was founded by the mysterious Ryoshi, in 2020. 

Shibu Inu coin can be bought as tokens directly from their website, or through popular third parties like the Uni-swap platform.

What about Dogecoin?

Doge took a hit in recent weeks after Tesla CEO Elon Musk referred to it as a ‘hustle’ on live TV.

At the same time however, the billionaire has been vocal with his support of the crypto, going as far as tweeting a poll if Tesla should accept Doge as a payment method.

“Do you want Tesla to accept Doge?” 

– Elon Musk tweeted

Anthony Lucas is reporter, presenter and social media producer with ticker News. Anthony holds a Bachelor of Professional Communication, with a major in Journalism from RMIT University as well as a Diploma of Arts and Entertainment journalism from Collarts. He’s previously worked for 9 News, ONE FM Radio and Southern Cross Austerio’s Hit Radio Network. 

Crypto

Gucci goes big in metaverse with new Vault Art Space

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Forward thinkers who love fashion, this exhibit is for you

Luxury brand Gucci has opened a Vault Art Space as it continues to explore the art world and the metaverse

Gucci inaugurated the gallery in a partnership with NFT marketplace SuperRare

The debut exhibit is titled “The Next 100 Years of Gucci”

Spring Cry by Alanna Vanacore

Keep your eye out for a special selection of NFT artworks, each a collectible fragment of Gucci’s heritage.

The artworks are showcased and auctioned off directly on Vault’s website in three drops between now and the end of July.

All sales will be in Ethereum.

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Crypto

Ethereum to finally undergo shift to new energy model

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Ethereum is about to undergo its long awaited makeover, which will see the company shift from its energy intensive model.

The crypto has been working to shift from its proof-of-work method to a proof-of-stake model, which requires far less power than mining.

Crypto currencies have been criticised for their mining processes to generate new coins. But this new method will be eco-friendly and lead to faster transactions.

The transition has been repeatedly pushed back because of major flaws.

But developers reportedly say the latest test run was very smooth.

The price of Ethereum has lost nearly half its value this year and is trading at just over $1,800 USD.

Investors will continue to keep an eye out on what will come out of this upgrade.

Meanwhile, Bitcoin investors can enjoy a sigh of relief as the cryptocurrency bounces back after months of turbulence.

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Business

Luxury watchmaker accepts bitcoin for limited edition collection

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They say cash is king and some call crypto a waste of time, but one company is proving to customers, that its not an old-timer

Luxury watchmaker Hublot is accepting bitcoin as payment for a limited-edition watch collection.

While the release begins with this limited-edition collection, the addition of bitcoin to the platform will not be going away for the United States eBoutique

Hublot partnered with BitPay to accept bitcoin and will continue to accept bitcoin through this outlet.

In order to secure one of the watches from this collection, customers will be paying just over 21 thousand or slightly more than the current price of 1 bitcoin.

The Swiss-based company joins other high end brands like Gucci and Balenciaga in accepting bitcoin as legitimate payment.

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