Coinbase Launches Crypto Debit Card

Plus Michael Saylor reveals how much BTC he personally owns

Happy Humpday, Blockfolians

The Lede

Lots and lots of news around using crypto for retail purchases recently. Last week, we heard about PayPal’s forthcoming crypto offering that will include not only buying and selling cryptos but eventually integration with their 26m strong merchant network.

Today, we’ve learned that the Coinbase Visa debit card - previously only available to users in the UK and EU - is coming to America.

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Any crypto that Coinbase uses can be spent via the card. Of course, there are some questions.

First, in the US crypto is treated like property, not currency, which means each purchase could be a taxable event.

Second, there is the question of how much users actually want to spend their crypto.

Still, while these concerns are real - we’re with Bobby: the more options, the better.

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Highly Relevant Reading


Community Commentary

CBDCs are not the same thing as cryptocurrencies
Jack’s prepared statement at today’s Section 230 hearing on social media companies and censorship

A Really Big Number We Should Be Paying Attention To

$100m

That’s the current amount of assets under management for Bitwise - the growth reflecting increasing crypto confidence among institutional investors


Final Thought.

GIGA. CHAD.