🇪🇺 The € is in trouble

ALSO: Ethiopian Government Mining Bitcoin; Nigeria block Bitcoin; Reddit hold Bitcoin; The ECB Is either lying about Bitcoin or lying to itself

Happy Friday - Oh boy, do we have a surprise for you this week!

We’ve given the newsletter a fresh new look and added a new section to highlight one online business each week that accepts Bitcoin, drop us a comment on what ya’ll think at the bottom of the email. ENJOY.

Here is your In A Nutshell from The Bitcoin Collective⚡️

This Week’s Big Stories
  • Ethiopia Mining Bitcoin

  • Nigeria block Bitcoin

  • The ECB is either lying about Bitcoin or lying to itself

  • Reddit hold Bitcoin

Source: Ethiopian Investment Holdings

🇪🇹 Ethiopia Mining Bitcoin

Ethiopia to become the first African country to start Bitcoin mining. On February 15, the Ethiopian Investment Holdings (EIH), a government investment arm, signed a memorandum of understanding with the Hong Kong-based West Data Group's Center Service PLC to start mining bitcoin as part of a $250 million project.

This move aligns with Ethiopia's strategy to position itself as a leader in the data centre industry in Africa, a market expected to reach $5.4 billion by 2027.

Source: FT

🤯 Nigeria block Bitcoin

Nigeria has taken a rather large step back by blocking access to prominent crypto exchanges. It has limited access to Binance, Coinbase, and Kraken according to a report by The Financial Times. The decision was made amid the ongoing decline in the value of the country’s local currency, the Naira.

Is this an example of what’s to come from other governments around the world?

Generated by AI

🤯 The ECB Is Either Lying About Bitcoin or Lying to Itself

The European Central Bank (ECB) released an article this week which made claims that Bitcoin has failed as a currency and an investment, suggesting it has a fair value of "zero dollars."

It’s a short article which shows the lack of research and understanding. Read it here then I’ve included a thread by Sam Callahan breaking it to pieces.

The euro has lost 99.5% of its value versus bitcoin over the last decade. Is this the real reason they wrote it?

Source: Internet Matters

🤯 Reddit hold Bitcoin

Reddit publicly filed its S-1 registration statement with the SEC on Thursday. This is a necessary document for any company plotting an initial public offering (IPO).

In the S-1, Reddit disclosed that the company “invested some of our excess cash reserves in Bitcoin and Ether.”

Maybe not much of a surprise to many as the co-founder has previously stated “It’s a fuel for a potentially new internet.”

🔥 What else have you missed?

1. Tuttle Twins TV Inflation explanation is doing the rounds again. Brilliant explanation of inflation

4. Germany’s parliament, the Bundestag, is receiving Bitcoin education. Thanks to terahash.space. Huge congrats to the team there from us!

🛍️ Weekly Spotlight

Our first weekly spotlight is Cheerings, who started accepting Bitcoin this week. With Mother’s Day quickly approaching (you’re welcome for the reminder), we thought it was the perfect business to kick things off. Plus 10% of profits go to charity. UK deliveries only.

*This is NOT an ad.

🍾 Friday Fun!

This week’s theme is: ‘Global Festivals 🎉’ - Play here

🧞‍♂️ Your wish is our command

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Until next week ✌️,

Jordan & The BC TeamI