Crypto Scoop: Bitcoin Scales Past $50,000 resistance As El Salvador Buys 21 Bitcoins To Celebrate December 21st.

On this week's scoop, we bring you the trendiest news about cryptocurrencies:

• Bitcoin Scales past $50,000 resistance
• El Salvador buys 21 Bitcoin to celebrate Dec. 21, 2021
• Elon Musk expresses his disapproval of the metaverse.
• Visa partners with 60 cryptocurrency platforms to allow customers to spend digital currency at more than 80 million merchants.

Bitcoin Scales past $50,000 resistance

With Christmas in just a few hours, Bitcoin's price has finally been able to break past the $50,000 and was seen trading at $51,000. While Bitcoin managed to scale past the $50k resistance, Cryptorank reports that there is just 1.3 million Bitcoin left circulating on crypto exchanges. According to the data, exchange wallets own 6.3 percent of the total Bitcoin supply.

Flori Marquez, the co-founder of cryptocurrency custodian BlockFi, reports that upward price action, new talent, and regulatory clarification will combine to create a simmering FOMO (Fear Of Missing Out) atmosphere for crypto adoption in 2022. With the reduced circulation of bitcoin in crypto exchanges, the demand for cryptocurrencies would get higher. CEO Michael Saylor also noted that Bitcoin's price will surpass $6 million and eventually replace gold.

Read also: Is It Too Late To Buy Bitcoin?

El Salvador buys 21 Bitcoin to celebrate Dec. 21, 2021

Purchasing Bitcoin is becoming a popular way for El Salvador to celebrate special milestones or experiment with noteworthy figures. El Salvador's government continues to celebrate significant days by purchasing more Bitcoin (BTC), with President Nayib Bukele announcing a new 21-BTC purchase on Tuesday. El Salvador's latest BTC investment is to honor the "final 21st day of the year 21 of the twenty-first century" and the scarcity of Bitcoin, which is restricted to 21 million units, according to Bukele.

On the other hand, El Salvador has received criticism from some of its inhabitants over the crypto wallet's operation. Locals in El Salvador complain that their Bitcoin has disappeared from their accounts. President Bukele is still yet to make a public statement on the issue.

President Bukele, on the other hand, responded to critics of El Salvador’s crypto adoption. On Thursday, Salvadoran President Nayib Bukele reinforced his conviction in Bitcoin (BTC) supremacy on Twitter, saying that "it's game over for currency" once widespread acceptance occurs. President Bukele retorted to his critics, claiming that although the rest of the world saw El Salvador as a "Bitcoin experiment," the country was revolutionizing its economy due to widespread Bitcoin usage. El Salvador will be considered the spark that initiates the real revolution, according to Bukele, when fiat is no longer a priority compared to BTC's domination.

Elon Musk expresses his disapproval of the metaverse.

Elon Musk, the CEO of Tesla and SpaceX, expressed his disapproval of the metaverse and Web 3.0 ecosystems, dismissing them as buzz words used as marketing tactics. When questioned about his thoughts on the metaverse ecology, Musk replied in an interview with The Babylon Bee, "I don't see someone strapping a friggin' screen to their face all day." "I'm not sure if I believe in this metaverse stuff, even if a lot of people tell me they do." When discussing the metaverse and virtual reality (VR), Musk stated that he does not anticipate a future in which people will have to abandon the physical world to live in a virtual one.

Citing a Firsthand experience with VR headsets, he noted that they caused motion sickness and ultimately affected eye sight. He, however, recommended Neuralink as a better alternative. Elon Musk is the founder of Neuralink, a sophisticated invention which he argued would plunge you into the virtual world. Musk launched Neuralink, a neurotechnology business whose primary goal is to implant brain implants in humans to restore and enhance physical abilities using computers. Concluding his argument, Elon Musk notes, “I don't think we're on the verge of slipping into the metaverse; this just sounds like a buzzword."

Visa partners with 60 cryptocurrency platforms to allow customers to spend digital currency at more than 80 million merchants.

Cuy Sheffield, Visa's head of crypto, stated that payments giant, Visa has worked with over 60 prominent crypto platforms "to create card programs that make it easy for consumers to convert and spend digital currency at 80 million merchant locations across the world." "We've gained a lot of traction in this field," he said, "and we'll continue to help the crypto ecosystem in a variety of ways." "At Visa, the breadth and scope of our crypto activity have risen substantially," he explained "At Visa, the number of people working on crypto in some form is now in the hundreds, up from a handful of employees just a few years ago."

Sheffield noted, “In the previous 18 months, we've more than doubled our number of relationships with crypto platforms, bringing the total to 60." Sheffield went on to say: "Crypto-linked cards make it simple for customers to convert and spend digital currencies without requiring coffee shops, dry cleaners, or grocery stores to accept crypto at the point of sale. All of the crypto-to-fiat transactions occur in real-time, behind the scenes. It's as simple as a typical Visa transaction in-store or online.”

Flexa, a "pure-digital" payments processor, has also added support for ADA, Cardano's native cryptocurrency, to the network's ever-growing list of viable payment methods. "At long last, Cardano's native asset is available on Flexa." You may now spend your $ADA at over 40,000 places across the United States!" Flexa tweeted on its Twitter account.

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