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Crypto Minute 12/9: Crypto Heads to Congress, MicroStrategy Buys More Bitcoin

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Introducing TheStreet's Crypto Minute, bringing you the latest news in bitcoin and cryptocurrency. 

In our debut episode, we head to Capitol Hill and review what top crypto executives told Congress, discuss MicroStrategy's  (MSTR) - Get MicroStrategy Incorporated Class A Report latest bitcoin purchases and talk who's who in cryptocurrency following the release of CoinDesk's 2021 "Most Influential."


Was 2021 the year of bitcoin? MicroStrategy seems to think so, and crypto execs had their moment in the sun in D.C. yesterday.

I’m Natalie Brunell, let's break down the biggest cryptocurrency stories on Thursday, Dec. 9

Tread lightly.... That was the message major crypto executives delivered to congress Wednesday when leaders from Coinbase, Circle, FTX and more appeared before the House Financial Services Committee.

While most of the executives were in support of clearer rules, some including Alesia Haas, CFO of Coinbase, warned a regulatory overstep could have a "chilling" effect on crypto and push business and innovation outside the U.S.

Did you spend 2021 mining for "digital gold?” A study released by Grayscale Investments found Americans are increasingly accepting bitcoin as part of their investment portfolios.

A survey of 1,000 people in the U.S. aged between 25 and 64 found more than a quarter of participants already owned bitcoin. Most notably, 55% of holders picked up the digital asset in 2021.

The American investor wasn't the only one buying bitcoin. MicroStrategy led by bitcoin bull Michael Saylor bought 1,434 bitcoins between November 29 and December 8, bringing its total bitcoin stash to 122,478 as of December 8.

In a statement, the company said it paid about $82.4 million in cash at an average price of $57,477 per bitcoin. MicroStrategy said it funded the purchase by selling shares

CoinDesk released its annual 'most influential,' detailing the who's who of cryptocurrency in a list of 50 top influencers, artists, politicians and business leaders. among 2021's biggest names were SEC chair Gary Gensler, Senator Cynthia Lummis, Tesla CEO Elon Musk, Strike CEO Jack Mallers and bitcoin's Taproot developers

To commemorate the moment, CoinDesk commissioned 10 artists to profile the top 10 names on the list....and yes, in the true spirit of 2021, NFTs are available, with up to 20% of any proceeds going to charities of the artists' choice. 

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