Salvadoran President Nayib Bukele bought the dip again, investing more than $5 million into Bitcoin as the price dropped under $54,000 Friday.
In a Friday tweet, El Salvador's president said he had purchased 100 Bitcoin (BTC) following a global market sell-off in response to a new COVID-19 variant discovered in South Africa. According to data from Cointelegraph Markets Pro, since reaching an all-time price of $69,000 on Nov. 10, Bitcoin has fallen more than 20% to reach $54,343 at the time of publication, an 8% drop in less than 24 hours.
Bukele first announced El Salvador would be making a major BTC purchase on the eve of the country’s Bitcoin Law going into effect on Sept. 7, buying 200 BTC when the price was roughly $52,000. He has tweeted each time that the government purchased coins during a price dip, with the country holding 1,120 BTC before the latest buy. With the addition of the 100 coins on Nov. 26, El Salvador holds BTC worth roughly $66.3 million at the time of publication.
Almost half of retail investors in Russia believe that cryptocurrencies like Bitcoin (BTC) are a hedging asset associated with stable income, according to a new survey. Financial publication Investing.com has polled 1,000 Russian retail investors to find out the most requested types of alternative investments.
According to a survey of 1,000 Russian retail investors by Investing.com, as many as 46% of respondents viewed cryptocurrencies as a potential defensive asset allowing them to hedge against financial risks at times of an economic crisis. Russian retail investors favored crypto more than real estate as just 37% of respondents investing in alternative assets considered buying real estate an effective investment instrument.
Real estate was historically the top hedging asset in Russia, according to Anastasia Kosheleva, the head of Investing.com’s Russian division. She noted that cryptocurrencies have emerged as the biggest investment trend in 2021 as they outstripped other traditional assets including foreign exchange currencies and stocks.
Out of many cryptocurrencies, Bitcoin is apparently the most popular alternative investment for Russians. According to a study by the big data platform Brand Analytics, Bitcoin was the most popular cryptocurrency in Russia in October, outpacing coins like Tether (USDT) and Litecoin (LTC) in terms of social media mentions.
Cryptocurrencies have been growing increasingly popular among Russian investors in recent years, with 77% of Russian investors preferring Bitcoin to gold in a survey last year.
AMC Theatres is planning a NFT promotion to celebrate the opening day of Sony Pictures’ Spider-Man: No Way Home at cinemas across the United States.
The company is offering a limited number of up to 86,000 Spider-Man NFTs for members of its “AMC Stubs Premiere & A-List” and “AMC Investor Connect” subscriptions. Those who purchase an advance ticket for the Dec. 16 showing of the latest Spider-Man movie will be eligible for the airdrop.
More than 100 NFT designs will be available created by Cub Studios, a BAFTA award-winning animation studio. The tokens will be redeemable on the WAX platform, a carbon-neutral blockchain running on proof-of-stake consensus.
The hotly anticipated movie is the third in the Spider-Man Hero franchise and the sequel to Spider-Man: Far From Home which grossed $1.13 billion globally.
Damien Hirst giveaway
Renowned British NFT artist Damien Hirst has airdropped 10,000 NFTs to those who had previously purchased artwork from his “The Currency” collection.
The giveaway is from the new NFT collection “Great Expectations” which is a series that contains 10,000 images based on his Certified Lover Boy artwork.
(1/10) Everything done well is art. With Drake’s support and blessing, I’ve created this free Thanksgiving gift for all currency NFT holders; it’s loosely based on the album cover I made for Drake. pic.twitter.com/IlB0EjpGrg November 25, 2021
The collection is based on the artwork for the cover of “Certified Lover Boy”, the sixth studio album by Canadian rapper Drake. On Nov. 26, Hirst commented:
“I tried to create an image that sums up the powerful hope filled love, humor & daring truth in the music of Drake for his album cover and now my hope is that with this free gift you can all share and feel the excitement I feel about NFTS and the digital world.”
3D NFTs on ICP
Dfinity’s Internet Computer Network (ICP) is launching NFT Studio, a 3D and interactive NFT platform enabling creators to design, mint, and stake regular and interactive 3D NFTs.
The platform includes a 3D voxel engine and a pixel engine which allows users to create 3D models that can be converted into NFTs and used in video games.
Lukas Merville, founder and team lead at NFT Studio, said that 3D creators are often limited on networks such as Ethereum or Solana which cannot handle large files sizes, before adding “3D NFTs sounded like fiction — well beyond the current state of blockchain technology. But we have made them possible on-chain thanks to the Internet Computer.”
There are a number of NFT collections already running on the ICP such as ICPunks, ICPuppies, and ICKitties.
Other Nifty News
A rare plot of digital land in the Axie Infinity game sold for 550 ETH on Nov. 25, or roughly $2.5 million. There are just 220 "Genesis plots" in existence making it one of the rarest in the game.
Axie is not the only notable virtual land sale as some plots have been fetching big bucks recently. As reported by Cointelegraph, the Decentraland-based Metaverse Group purchased 116 parcels of land in a prime location in the Metaverse for 618,000 MANA tokens worth roughly $2.5 million.
This Daily Dose was brought to you by Cointelegraph.