Skip to main content

The Year That Was: 3 Stories That Shaped Cryptocurrency in 2021

Author:
Publish date:
Video Rating:
TV-G
Video Duration:
1:44

The Crypto Minute broke down the year that was in cryptocurrency with the stories and trends that stuck with us in the video above. Did your favorite crypto headline make the cut? 

Transcript: 

TheStreet's Crypto Minute is brought to you by Blockchain.com.

Some cryptocurrency investors tried to channel their inner Nicolas Cage. ConstitutionDAO, an internet collective, crowdfunded $47 million in ether to purchase an original copy of the constitution. DAO stands for decentralized autonomous organization. The group had hoped that "we the people" could literally own a piece of the history that started the United States, but their dreams were squashed by Citadel's billionaire executive Ken Griffin, who spent $43 million to buy the constitution for his son.

Tesla  (TSLA) - Get Tesla Inc Report added Bitcoin to the balance sheet...you can't forget this story. Back in February, Tesla announced that it had bought $1.5 billion worth of bitcoin and said that it would accept bitcoin as a payment method for products. But, that didn't last long, because CEO Elon Musk announced that the company would stop accepting bitcoin as a payment. However,  he then took to Twitter to say that Tesla could resume bitcoin transactions when and if the bitcoin miners increase the use of renewable energy sources.

Back in September, El Salvador declared bitcoin legal tender, the first country in the world to do so. And El Salvador's president Nayib Bukele has been taking advantage of the ongoing volatility in bitcoin to buy more of the crypto for the country. While historic, polls run within the country showed that not everyone agreed with the decision. But, even with technical issues and identity thefts, the use of bitcoin did grow earlier this fall.

Related Videos