On June 24th, Citigroup, the third-largest banking institution in the United States, officially launched a digital asset unit within its wealth management division, according to The Block. The new unit called Digital Assets Group aims at helping Citigroup\u2019s clients invest in cryptocurrencies, stablecoins, non-fungible tokens (NFTs), and central bank digital currencies (CBDCs).On the same day, Andreessen Horowitz, one of the leading venture capital firms in Silicon Valley, California, announced \u2018Crypto Fund III\u2019 \u2014 a new $2.2 billion fund for investing in crypto networks and blockchain projects and teams. That is the biggest crypto fund the investment company has launched since 2018.However, the positive news related to crypto adoption from this past week is not only on institutional investors\u2019 level. On June 25th, President of El Salvador Nayib Bukele announced that in an attempt to promote Bitcoin as a means of payment, each adult citizen would be eligible to receive $30 in free Bitcoin if they download and register a government-developed crypto wallet.Source: TwitterThe crypto community praised the news from El Salvador. Binance\u2019s CEO Changpeng Zhao (CZ) highlighted that this is another step towards mass adoption of Bitcoin:Source: TwitterMoreover, CZ underlined that this is hard money and not printed out of thin air.Source: TwitterAs the mass adoption of Bitcoin is on the way, former New York Stock Exchange president Thomas Farley said in an interview with CNBC that \u201cin order for Bitcoin to one day exceed gold, it\u2019ll have to be more of an accepted form of currency.\u201d\u201cI have no doubt [Bitcoin] it\u2019ll go up, it\u2019ll go down over the long term \u2014 I still think it\u2019s a lower left to upper right trend, and I think we\u2019re going to see that play out over five years,\u201d he added.After a week of consolidation, the Monday market starts with a solid intraday\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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