This Week In Crypto | 19 - 25 January



Jan 24, 2022


El Salvador Buys 410 More Bitcoins as Prices Drop to Lowest Level

Bulgaria is Exploring Crypto Payments, Says It’s Finance Minister

Twitter Blue Launches NFT Profile Pictures For iOS Users

Survey Says More Than 60% Americans May Buy Crypto in 2022

Google Hires Former PayPal Executive to Push Crypto Payments 


The crypto prices are tumbling, but it hasn't led to any reduction in exciting instances in the crypto industry.  Social media giant Twitter rolls out a new feature that allows Twitter Blue subscribers with Apple phones to set an NFT as a profile picture. Also, as we saw in 2021, more and more Americans are buying crypto, and the trend is likely to continue in 2022. Google, the search giant, seems to be making headway into the digital assets space, as they recently roped in PayPal's crypto executive. Now, let’s dive straight into the news now.


Bulgaria Exploring Crypto Payments, Says It’s Finance Minister

Assen Vassilev, the deputy prime minister for EU Funds and finance minister of Bulgaria, has said that the country is exploring options to implement a crypto payment system. 

He said that the government was in talks with the Bulgarian National Bank and other industry players to explore crypto payments in the short to medium term. But he added that the country was unlikely to become a major destination for crypto mining as several miners are considering leaving Kazakhstan amid political unrest and internet outages.

While Bulgaria is a member of the European Union, it is one of the only eight nations that has not accepted the Euro. Back in June 2021, the government and the Bulgarian National Bank announced that they are planning to adopt the euro in 2024.

As such, the country would not get benefitted from the adoption of a digital euro among participating central banks.


Twitter Blue Launches NFT Profile Pictures For iOS Users

Twitter's subscription service Twitter Blue has launched a new feature that will allow users to show off their non-fungible tokens (NFTs) on their profile pictures.

As of now, the feature is only available to paid subscribers of Twitter Blue using iOS, costing $2.99 per month. However, the company has said that the feature will be rolled out on Android and web devices as it continues to further develop the feature.

To select their NFT of choice, users need to head to their profile picture and change their picture as they normally would. The feature allows users can connect their crypto wallets like Coinbase, MetaMask, Trust Wallet, Argent, etc., and set it as their profile picture.

Moreover, the feature also allows users to learn more about each other's NFT avatars, such as their creators, owners, description of the series, and also verify their authenticity on third-party platforms like OpenSea or other marketplaces.


Survey Says More Than 60% Americans May Buy Crypto in 2022

According to a new survey report published by cryptocurrency platform Voyager Digital, 61% of individuals that participated in the survey are likely to buy some form of cryptocurrency this year.

Although Voyage Digital did not reveal the exact number of participants polled, the survey results show a massive percentage increase when compared to 2021's survey that found only 27% of Americans planning to invest in cryptocurrency throughout 2021.

The recent survey also found that individuals would prioritize buying digital assets over traveling on a plane, buying a new car, purchasing mutual funds, buying a house, or even starting a romantic relationship.

Further findings from the survey showed that 66% of survey participants believed that cryptocurrency should be taught in schools and be a part of the educational system. 33% of survey participants believe that cryptocurrency education should begin in middle school or before.


Google Hires Former PayPal Executive to Push Crypto Payments 

Google has recruited Arnold Goldberg, a former PayPal executive, to head its payments division as part of a company-wide push into financial services, including crypto.

Goldberg has been hired by the company to become the vice president and general manager for the payments and emerging market efforts — an initiative the company calls Next Billion Users, or NBU.

As of now, Google has not confirmed its plans to support cryptocurrencies in Google Pay, its digital wallet app. But the company's president of commerce, Bill Ready, while speaking about the new hiring decision said, “Crypto is something we pay a lot of attention to. As user demand and merchant demand evolves, we’ll evolve with it.”

This statement from Ready suggests that the tech giant may include support for cryptocurrencies in their wallet if the crypto market evolves and demand for crypto payments rises.