The Latest Crypto Adoption: Buyers Can Pay in Bitcoin for Manhattan Retail Properties

The New York-based property management company – Magnum Real Estate Group – would accept Bitcoin (BTC) as a payment method for the sale of three ground-level shops worth nearly $30 million located in Manhattan.

In addition, the Autism Science Foundation (ASF) announced it would allow people to make cryptocurrency donations. Initially, the non-profit organization would accept the following digital assets: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Bitcoin Cash (BCH), USD Coin (USDC), and Dai (DAI).

BTC Invading The Real Estate Industry

According to a recent report, one of the leading American property management firms – Magnum Real Estate Group – would enable buyers to use bitcoin for the purchase of three ground-level shops worth $29 million. BitPay – a bitcoin payment service provider – would process the future cryptocurrency transactions.

The shopping center, also known as CODA, is located on the luxurious part of Manhattan – 385 First Avenue. It covers over 9,000 square feet of space and consists of M&T Bank, clinic ProHEALTH Urgent Care, and restaurant Mighty Pita.

Ben Shaoul – Managing Partner of Magnum Real Estate – pointed out that his firm has experience with digital assets as it has previously sold apartments using this payment method.


In his turn, Sonny Singh – Chief Commercial Officer of BitPay – explained that potential buyers from every part of the globe, including those from Hong Kong or mainland China, can use bitcoin to purchase the property:

“The beauty of crypto is that it is a global digital asset. The buyer simply scans a QR code to pay.”

If someone pays the $29 million in BTC, the deal would mark the most expensive transaction in the real estate industry purchased with crypto. As of the moment, the record belongs to a deluxe penthouse in Miami Beach. In June this year, an anonymous buyer paid a whopping $22.5 million in digital assets to acquire the oceanfront condo.

New York City. Source: Street Easy
New York City. Source: Street Easy

ASF Accepts Crypto Donations

Another example of cryptocurrency adoption came from the Autism Science Foundation. The non-profit organization that supports the lives of children and adults suffering from the disease announced that it now accepts donations for its cause in seven different digital assets. Namely, those are Bitcoin, Ethereum, Litecoin, Dogecoin, Bitcoin Cash, USD Coin, and Dai.

Alison Singer – Co-Founder and President of the ASF – raised hopes that the new opportunity could turn to be highly beneficial for the people in need:

“We are thrilled to expand our fundraising mechanisms to now include cryptocurrency, which allows both individuals and corporations yet another way to make a meaningful difference in the lives of people with autism.”

She also mentioned the Wall Street Rides FAR (WSRF) fundraiser. Many prominent crypto companies such as Gemini, BlockFi, FTX, Paxos, and Fireblocks have vowed to sponsor the upcoming annual charity cycling and walking event that has raised more than $2 million for the ASF to date.


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Just 10 Days After El Salvador’s “Bitcoin Day”, President Bukele Confirms 1.1 Million Citizens Have Chivo Wallet

El Salvador has now marked its 10th day of bitcoin being legal tender in the country. This is a huge milestone that could not have been predicted to happen this soon. But as with bitcoin, everything is happening on an accelerated timeline. The country had introduced its own government-backed crypto wallet named Chivo in order to enable its citizenry to spend bitcoin in the country.

The adoption of this wallet was incentivized by the El Salvadoran government, which said that it was giving away $30 in BTC to every citizen 14 and above who downloaded the Chivo app. This announcement had come about a month before the law went into full effect and as of September 7th, El Salvador became the first sovereign nation to accept a cryptocurrency as legal tender.

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One important point remained if the citizens of the country would actually assimilate into using bitcoin as a way of buying and selling. This is because BTC is not the only legal tender in the country. It operates alongside the U.S. dollar, which is already familiar to the residents. According to a recent tweet by President Nayib Bukele, it looks like El Salvadorans are adapting to using the crypto as legal tender just fine.

17% Of El Salvadorans Have Downloaded Chivo Wallet

The president took to his Twitter account to announce that 17% of the country had now downloaded the government-backed Chivo wallet. This number translated to about 1.1 million citizens who have already downloaded the wallet.

This comes only 10 days after the country had officially started using BTC as legal tender. The president added that this number was despite the fact that 65% of all of the smartphones in the country do not support the wallet. Yet they were recording an impressive number of downloads.

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Related Reading | While Broader Crypto Market Holds Its Collective Breath, Whales Are Loading Up On Bitcoin

El Salvador might not be seeing the smoothest transition to using BTC as a legal form of currency in the country but the current numbers show that its citizens are adjusting to the new normal. The $30 incentive for downloading the wallet is paid after a user registers and confirms their identity on the app.

Paying With Bitcoin

Paying with bitcoin in El Salvador is getting easier as outlets implement bitcoin payments. Big franchises like McDonald’s and Starbucks have already begun accepting bitcoin payments on “Bitcoin Day.”

Another interesting fact about using BTC in the country has to do with the number of crypto ATMs currently installed. Data shows that just behind the United States and Canada, El Salvador now ranks third in the highest number of crypto ATMs installed. The government had installed crypto ATMs across the nation to facilitate ease of use.

Bitcoin price chart from

Bitcoin price chart from

BTC trading north of $47K | Source: BTCUSD on
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Ethereum Above $10,000 Is Already ‘Programmed Into the Matrix,’ Says Crypto Trader Lark Davis

Cryptocurrency trader and YouTube influencer Lark Davis says Ethereum (ETH) is poised for a 190% rally en route to hitting a five-figure price.

In a new video, Davis tells his 431,000 YouTube subscribers that the second-largest crypto asset by market cap is preparing to appreciate to above $10,000 based on key fundamental factors.



Davis says one of the reasons why Ethereum is set to more than double in price is its falling supply in exchanges.

According to Davis, the supply of the leading smart contract platform in exchanges is in a strong downtrend over the past year as holders either lock their Ethereum in decentralized finance (DeFi) protocols or use their ETH to buy non-fungible tokens (NFTs).

With the supply mechanics working as they are, it’s only a matter of time before the Ethereum supply crisis ends up jacking up the price in a serious way.”

Davis also cites a tweet by blockchain intelligence platform IntoTheBlock, which says that the net amount of Ethereum exiting crypto exchanges recently reached a new record high.

“The net amount of Ethereum leaving exchanges just hit a new record. Over $1.2 billion worth of Ethereum left centralized exchanges yesterday. That is a mind-blowing number.”

The crypto trader adds that when Ethereum worth over a billion dollars previously left centralized exchanges, the price of the second-largest crypto rose by double-digit percentage points within around four weeks.

“And what’s interesting, as IntoTheBlock points out, the last time that a billion dollars or more of Ethereum left centralized exchanges, Ethereum increased by 60% within 30 days.”

Davis also says cites research by blockchain analytics firm Glassnode, which shows that a huge chunk of Ethereum’s supply has not moved within the last 90 days.

“87% of Ethereum supply has not moved on-chain for three months or longer. 87% of the supply! That is insanity”



The crypto trader says that the lack of movement is an indication that Ethereum holders are “waiting for higher prices,” driven by among other factors, the burning of Ethereum transaction fees.

“People are holding for higher prices, they’re not selling below the previous all-time high. They know a new all-time high is coming. They know price discovery’s coming. They’re watching and seeing what is happening economically with Ethereum right now. They’re seeing how much, for example, Ethereum is being burned at the moment…

We have now had $1.1 billion worth of Ethereum burned away – 309,500 Ethereum at the time recording this video.”

Davis also says the proliferation of scaling solutions, known as layer-2 protocols, is also bullish for the second-largest crypto asset as they boost demand for Ethereum.

“We’re also seeing Ethereum layer-2s taking off now. In order to use Ethereum layer-2, you need to have Ethereum. Plain and simple. You have to have ETH to pay the gas fees on Ethereum layer-2.”

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Cardano price dips after smart contract launch, Walmart working with Litecoin is fake news, Coinbase raises $2B from junk-bond sale: Hodler’s Digest, Sept. 12-18

Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.

Top Stories This Week

Cardano launches smart contracts after successful hard fork

After years of anticipation, Charles Hoskinson’s brainchild, Cardano, finally launched its smart contract functionality via the Alonzo hard fork on Monday. You’d think the result of this would be some bullish price action for ADA but, alas, its price dropped 10% following the rollout. 

While Cardano was keen to celebrate the milestone, it also emphasized in a blog post that it’s still in the “early days” of the project, adding that now is when “the mission truly begins.”

The team also urged its community to not be overzealous in boarding the hype train just yet, and to be patient with the smart contract functionality in its formative stages: 

“There are high expectations resting on this upgrade. Some unreasonably so. Cardano watchers may be expecting a sophisticated ecosystem of consumer-ready DApps available immediately after the upgrade. Expectations need to be managed here.”

Fake news: Litecoin price surges 35% following Walmart adoption hoax

While real news made the price of ADA drop, fake news made the price of Litecoin (LTC) pump this week.

Numerous publications reported Monday that Walmart planned to have a “pay with Litecoin option” for its e-commerce websites starting on Oct. 1 as part of a partnership with the Litecoin Foundation. Following the spread of the fake report, the price of LTC surged 35% before sharply falling within hours. 

A spokesperson from Walmart confirmed that the news was fake within an hour, while the Litecoin Foundation’s director of marketing, Jay Milla, also told Cointelegraph that the announcement did not come from Litcecoin’s side of things.  

“The Litecoin Foundation has yet to enter into a partnership with Walmart,” said Milla.

Vitalik Buterin makes list of Time magazine’s 100 most influential people in 2021

Ethereum co-founder Vitalik Buterin was named by Time Magazine as one of the 100 most influential people of this year, joining the likes of Naomi Osaka, Britney Spears, Xi Jinping and Elon Musk. 

Buterin was featured in the “Innovators” section of the Time 100 list, with Reddit co-founder Alexis Ohanian authoring his profile. Ohanian highlighted Buterin’s work in building the Ethereum network and encouraging the development of decentralized apps and NFTs.

“No one person could’ve possibly come up with all of the uses for Ethereum, but it did take one person’s idea to get it started,” Ohanian said. “From there, a new world has opened up, and given rise to new ways of leveraging blockchain technology.”

Coinbase increases junk-bond offering to $2B after investors swarm

After seeing enormous demand for its $1.5 billion junk-bond offering that was announced on Monday, Coinbase reportedly increased the size of the sale to $2 billion. 

According to a report from The Economic Times, there was at least $7 billion worth of orders that were placed in competition for seven- and 10-year bonds offering interest rates of 3.375% and 3.625%, respectively.

Coinbase stated on Monday that the raised funds will be put towards “continued investments in product developments” and “potential investments in or acquisitions of other companies, products, or technologies” in the future. 

The funds might also come in handy when the U.S. Securities and Exchange Commission, or SEC, comes knocking on the door with a lawsuit if the USD coin lending program is actually launched.

US lawmakers propose adding digital assets to ‘wash sale’ rule and raising capital gains tax

Reports surfaced this week that Democrats in the U.S. House of Representatives proposed tax initiatives that could swipe some extra profits from the gains of “certain high-income” crypto users. 

According to a document released by the House Committee on Ways and Means on Monday, the proposal would increase the tax rate on long-term capital gains from the existing 20% to 25%. 

On the same day, President Joe Biden said he planned to nominate acting chairman of the Commodity Futures Trading Commission, Rostin Behnam, to assume the role permanently, while also naming Kristin Johnson and Christy Goldsmith Romero to fill two other vacant commissioner seats. 

In a private meeting held on Sept. 8 between Fidelity Digital Assets President Tom Jessop, six of the firm’s executives and several SEC officials, the executives outlined a number of reasons why the enforcer should finally approve the Bitcoin (BTC) exchange-traded fund. 

These examples included increased demand for digital assets, the prevalence of similar funds in other countries, and the rise of Bitcoin adoption — all of which sound like reasons that would fall on deaf ears for the SEC.

Winners and Losers

At the end of the week, Bitcoin is at $46,951, Ether at $3,376 and XRP at $1.07. The total market cap is at $2.11 trillion, according to CoinMarketCap.

Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Curve DAO Token (CRV) at 41.73%, Hedera Hashgraph (HBAR) at 41.16% and Avalanche (AVAX) at 33.23%. 

The top three altcoin losers of the week are Arweave (AR) at -19.24%, Solana (SOL) at -21.27% and Revain (REV) at -17.11%.

For more info on crypto prices, make sure to read Cointelegraph’s market analysis.

Most Memorable Quotations

“Many platforms have dozens or hundreds of tokens on them. While each token’s legal status depends on its own facts and circumstances, the probability is quite remote that, with 50, 100, or 1,000 tokens, any given platform has zero securities.”

Gary Gensler, U.S. Securities and Exchange Commission chairman

“One can even see an inscription about the regulator’s obligations on the banknotes, while cryptocurrency is not backed by anything.”

Behzod Khamraev, Central Bank of Uzbekistan deputy chairman

“Advocates say crypto markets are all about financial inclusion, but the people who are most economically vulnerable are the ones who are most likely to have to withdraw their money the fastest when the market drops. […] High, unpredictable fees can make crypto trading really dangerous for people who aren’t rich.”

Elizabeth Warren, U.S. senator

“Rising valuations across asset classes, massive price swings in cryptoassets and event-driven risks observed in 1H21 amid elevated trading volumes raise questions about increased risk-taking behaviour and possible market exuberance.”

The European Securities and Markets Authority

“It’s a no-brainer that your crypto earnings are taxable like other income and should be declared in the Income Tax Returns. As of now, it is not clear whether the GST would be applied on the amount of cryptocurrency bought or on the transaction fees paid by the user.”

Nischal Shetty, WazirX CEO

“If a person has assets in Bitcoin and makes high profits, there will be no tax. This is done obviously to encourage foreign investment.”

Javier Argueta, legal adviser to El Salvador’s president, Nayib Bukele

“While it might be helpful for the SEC to provide advisory guidance to companies, it has no obligation to do so.”

Marc Powers, former SEC Division of Enforcement officer

“In a situation where the relevant taxation infrastructure is not sufficiently established, the deferral of taxation on virtual assets is not an option, but an inevitable situation.”

Noh Woong-rae, South Korea National Assembly member

Prediction of the Week 

New Bitcoin price model suggests BTC won’t go below $39K again

Analyst William Clemente came up with a new metric for Bitcoin price boundary forecasts, posting the tool on Twitter this week. Called the “Illiquid Supply Floor,” the chart merges PlanB’s stock-to-flow metric and on-chain Bitcoin supply data from Glassnode. The result? A chart showing Bitcoin’s current price against the backdrop of possible upper and lower price range boundaries. 

Bitcoin’s price rallied this week, showing recovery after the asset took a sizable dive down to the $43,000 range during the week of Sept. 7

According to Clemente’s chart, the $39,000 price range could be the current bottom limit for Bitcoin’s price should it drop once again, given “a price floor based on Bitcoin’s real-time scarcity” — Clemente’s description of the lower limit on the chart.  

FUD of the Week 

Solana and Arbitrum knocked offline, while Ethereum evades attack

The recent Solana-rama was temporarily brought to a halt this week after the supposed “ETH killer” suffered a denial-of-service disruption for around 45 minutes.

Twitter account Solana Status explained that a large increase in transaction load to 400,000 per second overwhelmed the network, creating the denial-of-service and causing the network to start forking. The incident appears to have slightly damped enthusiasm in SOL, as the price is down 26% over the past seven days. 

Ethereum layer-two rollup network Arbitrum One also reported its sequencer had gone offline for roughly 45 minutes this week, while Ethereum was also the subject of an unsuccessful node attack from an unknown identity.

OpenSea exec used the platform’s influence to pump his own NFTs

Earlier this week, OpenSea head of product Nathan Chastain was named and shamed after he was outed for hyping NFTs he purchased and then featuring them on the homepage of the popular marketplace.

While being bullish on NFTs is nothing new, getting caught for tokenized insider trading is — and Nathan Chastain is estimated to have earned at least 18.875 Ether (ETH), $65,700 at time of writing, from his antics.   

OpenSea officially confirmed the accusations on Wednesday, noting that it was “incredibly disappointing,” and emphasized that the behavior did not represent the firm’s values. Chastain then proceeded to hand in his resignation the following day with his tail between his legs.

Protesters burn Bitcoin ATM as part of demonstration against El Salvador president

Anti-Bitcoiners and protesters of El Savador President Nayib Bukele’s policies destroyed a BTC ATM in the nation’s capital city on Wednesday. 

Local news outlets shared images of the ATM burning in San Salvador within a crowd of journalists and protesters. The booth hosting the BTC ATM was defaced with anti-BTC graffiti and a sign saying “democracy is not for sale.”

Despite maintaining a strong approval rating, Bukele appears to have caused a stir with his forceful approach to politics. There have now been multiple protests in El Salvador regarding adoption of BTC, with activists taking the streets as early as July to voice their concerns.

Best Cointelegraph Features

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Thanks to El Salvador’s daring move, digital money looms large on global policymakers’ radars.

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3 Reasons Why Bitcoin Can Reach $100K This Year, According to Bloomberg Senior Analyst

The number of people believing that bitcoin could top $100,000 by the end of the year continues to grow, with the latest being Bloomberg’s Senior Commodity Strategist – Mike McGlone. By outlining the growing mass adoption, declining active supply, among other reasons, McGlone predicted that BTC could more than double its value in the next three months.

BTC to $100K: Bloomberg

This year has already been a wild roller-coaster when it comes down to BTC’s price as it surged from below $30,000 to above $60,000 for a new all-time high in a few months before crumbling back down to its 2021 entry-level.

Since those dark days in July, it has gained roughly $20,000 and currently stands just below $50,000. And, although there’re less than four months left until the end of the year, the predictions envisioning a more than 100% increase against the dollar within that time frame continue to amass.

Bloomberg’s Mike McGlone has also joined this bandwagon by outlining a few reasons. Firstly, he touched upon historical BTC trading trends before broaching the decreasing supply of the primary cryptocurrency.

Bitcoin Price Chart. Source: Bloomberg
Bitcoin Price Chart. Source: Bloomberg

This could be regarded from a number of viewpoints. The speed of creation of new bitcoins reduces every four years after an event called the halving. After the latest (third) one in 2020, the rate is now down to 6.25 BTC per block.


We can also add the three million coins considered lost and unaccessible to this. Additionally, long-term holders seem determined to retain their bitcoin holdings and refuse to sell even when the price tumbles as it did earlier this month.

This also coincides to a large extent with the stock-to-flow model. By reviewing the stock as the size of existing reserves (or stockpiles) and the flow as the annual supply of BTC on the market, the S2F also envisions a $100,000 price tag per coin by the end of the year.

Adoption Has a Role Too

McGlone’s third reasoning – increasing adoption – works jointly with the decreasing supply. Basic economic principles dictate that if the supply of an asset declines, while the demand stays the same or goes higher, the price should, in theory, rise as well.

And, the demand for the primary cryptocurrency has indeed been growing lately. We have giant companies allocating billions of dollars in it, some of which pledged not to sell any portions.

Institutional investors continue to pressure large banks to provide them with regulated venues where they can receive BTC exposure. The AUM in Grayscale’s Bitcoin Trust has multiplied 10-fold since late 2019.

As such, it’s not that big of a surprise that so many different people – from Jordan Belfort, Adam Back, Tom Lee to Chainalysis’ CEO believe that bitcoin could indeed go into a six-digit price territory by the end of 2021.


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Bitcoin is great, but real crypto innovation has moved elsewhere

Something is brewing, and those with finely tuned noses can smell it. As traders have come to expect, Bitcoin (BTC) is doing “Bitcoin things” by bouncing around between the usual “key” support and resistance levels, and to be honest, it’s all starting to feel a bit boomerish.

Bitcoin’s long-awaited “moon” depended on institutional investor buy-in, breaking the previous all-time high at $19,000, and a set of other firmly held beliefs. Well, all that happened, and the run to $64,900 exceeded many investors’ wildest dreams. But despite this, the entire BTC situation just feels predictable and boring if you are of the opinion that the top-ranked cryptocurrency will eventually top out around $100,000 in the current bull market.

So, back to what else is brewing…

Decentralized autonomous organizations (DAOs) are hot, nonfungible tokens (NFTs) are hot, play-to-earn gaming is hot and the Metaverse is hot.

This is where the real heads are right now — speculating, building, pondering, networking and doing shit that actually matters. And what is unique about those who are really putting in work in the trenches of crypto is that this grassroots approach and bottom-up building trend is leading to some of the space’s most groundbreaking projects.

Take Dom Hofmann’s “Loot” project as an example, or the recent Good Bridging and BridgeLoot drops in the Avalanche ecosystem.

Rather than putting on a suit, throwing together some c-suite-friendly presentation and chasing after venture capital dollars, Loot was minted for free by interested participants willing to pay the gas costs, and the community ascribed value to the NFTs via OpenSea sales.

The value of new ideas was agreed upon by a flurry of discussions in Discord, and anyone with an idea was free to launch their own derivative contract where Loot holders could then replicate the minting and listing cycle again.

Will Papper’s airdrop of 10,000 Adventure Gold (AGLD) to Loot NFT holders, soon became worth over $50,000 and catapulted the entire project to stardom and into the history books. It was essentially the “YFI” of NFTs, some would say.

There’s a seismic shift at hand

What’s unique and intriguing about Loot is that it has set the precedent for what is becoming a new drop model in the space. The process involves creating a product (whether it be an NFT or a protocol), mentioning it to an interested community, and allowing them to mint tokens for free within the 7,777 to 10,000 supply range. After that, creators let the community, speculators, believers and OpenSea do the rest.

Hofmann encouraged the entire fam to do what they wanted with the project — he essentially said, “This is yours! Go and build, my children!” The anon genius behind the Good Bridging (GB) token drop also did the same but with even less guidance.

Basically, 16,000 early users of Avalanche’s Ethereum-to-Avalanche bridge got an 895 GB token airdrop, which at its peak price of $2.60 per GB was worth about $2,300. Not too shabby, eh?

To add to this, GB holders who didn’t immediately liquidate the drop were eligible to mint a gasless BridgeLoot NFT as a reward, and a few hours later, the Avalanche-based NFT marketplace Snowflake verified and listed BridgeLoot, where many holders listed their NFTs for 20 to 100 AVAX.

From a markets perspective, money chases after money. Investors chase after liquidity, and that’s part of what drives price action within markets.

We see this happening with all the layer-one incentive launches where hundreds of millions of dollars are shifting from ETH to Fantom, or ETH to Arbitrum, or ETH to AVAX, or ETH to LUNA, or ETH and USDC to Web3-based decentralized exchanges like dYdX and GMX.

The point is that crypto is driven by liquidity and trends. The whole Loot phenomenon let the cat out of the bag and enlightened builders on a feature that has always been present but only recently uncovered.

Bottom-up fundraises, NFTs with utility in the Metaverse, DAOs and the great liquidity suck into layer-2 ecosystem are here to stay.

The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Every investment and trading move involves risk, you should conduct your own research when making a decision.