Good morning. Welcome to Saturday Sats, part of our new series: BitPinas Daily. We will look at the price of Bitcoin, Ethereum and the major cryptocurrencies. Crypto is global, but sometimes news that matters happens while we sleep. So we bring to you what’s happening in our space here and abroad.
Market Price as of March 13, 2021:
Bitcoin closed March 12, 2021, at $57,354 per BTC. We’re up 15% in the last 7 days and up 95% since the year began. This is also 2% below the all-time high of $58,640, which was hit on Feb. 21, 2021.
Bitcoin’s market capitalization stands today at $1,056,406,703,054 which is 60% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $1,750,870,778,529 (-0.9%).
On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.
Who Was The Successful Bidder
Yesterday, Beeple’s “Everydays: The First 5000 Days” was sold at legendary auction house Christie’s for roughly $70 million, making this thet third most expensive auction by a living artist.
Initially everyone thought it was Justin Sun of Tron who won the bid. Today we found out who it is:
Metakovan and the Metapurse Fund, incidentally, is also the owner of 20 1/1 Beeple artworks. This is what Metakovan has to say about his bid:
“When you think of high-valued NFTs, this one is going to be pretty hard to beat. And here’s why – it represents 13 years of everyday work. Techniques are replicable and skill is surpassable, but the only thing you can’t hack digitally is time.”
“This is the crown jewel, the most valuable piece of art for this generation. It is worth $1 billion.”
Check out the BitPinas article on NFTS here: Non-Fungible Tokens – NFT 101 – Why People are Spending Millions of Dollars for Crypto Art and Digital Items
THEY JUST KEEP BUYING BITCOIN
Here’s a chart from The Block:
Lawmaker Signs Petition to Allow France’s Central Bank to Buy Bitcoin
As per The Block:
“So far, the petition has received 322 signatures. The petition will be active until September 5. Among its signatories is Jean-Michel Mis, a member of the National Assembly since 2017 who serves on the Committee of Legal Affairs.”
“However, for that to happen, France’s legislature would need to update the monetary and financial code to enable the central bank to actually undertake such activities.”
What else is happening
- Associated Press NFT Artwork Sells for $180K in Ether
- Buterin helping to strategize against Ethereum 51% attack possibility
- No, Chinese Ethereum miners didn’t crack Nvidia’s GPU hash rate limiter
This article is published on BitPinas: Who Bought the NFT Art For $69 Million (March 13, 2021)