A Chinese Angel Investor Gathered 10k Bitcoins During The Market Slump

Cai Wansheng, An angel investor from China was able to accumulate 10,000 BTC during the bearish market months.

He is the founder of Selfie touch-up app called Meitu that is very popular in China.

The billionaire is worth $1.5 Billion USD.

He said that he started gathering bitcoin when he realize the potential of bitcoin and distributed ledger technology which he set a personal goal of 10,000 BTC.

He was able to hit his target in just under four months.

Cai compares the current state of cryptocurrencies to the early stage of dotcom boom in which we see a lot of them faded away but those that survive had unimaginable returns.

Cryptocurrency Betting On the Rise

The international online horse racing news service US Racing has reported that there is a “non-insignificant” trend in using cryptocurrencies to wager on Kentucky Derby.

This derby is the most famous horse race in the United States which is held in Louisville once a year.

It is expected that it will top the $100 million dollars wagered last year as there are private international gaming companies that will accept cryptocurrencies such as bitcoin, bitcoin cash and litecoin to make deposits and bet on the said event.

Hollywood Producer Launches Blockchain-Powered Social Entertainment Platform

Hollywood producer Andrea Lervolino is said to be launching a new Blockchain-based platform TaTaTu.

This one of its kind platform seeks to intertwine social media activity with entertainment viewing.

The platform seeks to protect content creators, brand names and companies by ensuring that they will receive a fair distribution of revenues from production and distribution.

With said platforms users receive rewards from consuming contents and as well as from the consumption of their friends.

South Korea To Legalize ICOs Soon

Hong Eui-rak, Representative of the ruling Democratic party of Korea has obtained the support of 10 lawmakers to challenge the current band on domestic ICOs.

There could be no better time for reinstating the legality of ICOs in the country at time when peaceful agreement between the two Koreas seems to be attainable.

Economic boom is expected in the region as both countries reopen ties as a result from the dedication of both country’s leaders of finding a peaceful solution in the peninsula.

Rep. Hong Eui-rak said that the primary purpose of the bill is to legalize ICOs under the government’s supervision removing uncertainties and other risk associated with Blockchain-related businesses.

Cryptocurrency Village

The residence of a small village in Ukraine has all become owners of cryptocurrencies according to its local village chairman, Maxim Golosnoy.

This was made possible by a small investment he made on Cardano last month amounting to 13,000 hryvnias which is roughly around US$494 which appreciated to 39,000 hryvnias or US$$1480).

The investment was his personal money and have taken out his initial investment and allocated the rest of the earnings to the 1,500 villagers.

This self-funded initiative is show his fellow government that cryptocurrencies are viable investments in which they can get additional revenues if they are willing to invest government money into it.

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