Great Lakes Science Center is the new museum that is now viral in today’s crypto news, mostly because of its recent decision to start accepting payments in crypto. Based in Cleveland, Ohio, this museum is a large educational facility that will begin accepting Bitcoin as a payment method starting November 13th.
The CEO of the Great Lakes Science Center, Kirsten Ellenbogen, said that the institution decided to accept crypto in order to boost the growth of the local blockchain ecosystem. As she noted:
“There is a lot of excitement around the conference. Accepting bitcoin is just a small part of the momentum to grow a blockchain ecosystem in Cleveland.”
The Museum of the Coastal Bend in Texas as well as the St. Petersburg Museum of History in Florida have both been accepting BTC for quite some time, which makes the Great Lakes Science Center officially the third museum in the US to start accepting crypto as a payment method.
With this, it is easy to see that Bitcoin has become a major store of value. The $110 billion in circulation are acknowledged as a proper asset by many large scale institutions, some of which include ICE, Fidelity, Nasdaq and the New York Stock Exchange.
This integration comes after Hublot, which is a Swiss luxury watchmaker, successfully integrated Bitcoin in order to sell 210 pieces of its limited edition Bitcoin-themed sports watch for $25,000 a piece, generating more than $5 million in revenue purely through these sales.
Bitcoin In Myanmar No More: CBM Sees It As Liability
“Before making crypto illegal, its impact on the local currency and compatibility with existing policies should first be analyzed and discussed.’’
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“DySP [Deputy Superintendent of Police] had come to my house to invest in five bitcoins. After incurring a loss due to slide in their value, Chirag and his brother Montu were demanding 11.575 bitcoins. I am distraught due to the recovery they are claiming. My life is not worth living. DySP Chirag Savani came to my house and threatened me to return the amount they had invested. I have been forced to commit suicide. The two brothers are responsible for my act.”The brothers demanded more than double of the bitcoin they invested as compensation. At the current prices, 11 bitcoin is worth about $92,000. According to Patel’s wife Usha, the bitcoin trader from India tried to reason with the brothers and make them accept the payment in installments. However, they wanted cash. Both of the brothers were demanding interest on the payment but the suicide note did not reveal the rate. After the slump of the crypto prices, the suicide rate became a huge issue in the sector. There has been a number of deaths related to suicide after losing an investment made in bitcoin. This is not surprising since this happens in the traditional financial markets as well. Suicides tend to grow when the market crashes. According to research that we read in the best cryptocurrency news sites, about 6,000 suicides are linked to the market crash especially the one ten years ago.
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“Hell of a bullish weekly close on #Bitcoin with near record breaking volume, solidifying the strength and validity of this rally.”Right now, Bitcoin looks like it is retracing below $8,000. However, this may be a short correction before a new upswing. Its dominance now sits at 57% and the total market cap is $244 billion.
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- Bitcoin In Myanmar No More: CBM Sees It As Liability
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- Tom Lee Thinks That Bitcoin’s $8,000 Upswing Confirms End Of Crypto Winter
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