Canadian Basketball Into Bitcoin, VC Invests $17 Billion Into Crypto Companies

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Bitcoin continued its unsure direction between $30 and $40k and is trading at exactly $35k this Sunday morning. Meanwhile Canadian basketball players can now get paid in Bitcoin and venture capitalists are pouring record amounts into crypto companies.

According to Wolf of Wall Street Scott Melker Bitcoin has been ranging (trading with an unsure direction) for about a month now. Given that summer officially starts as from tomorrow, we could be in for a few more weeks of this choppy and boring price direction.

Canadian basketball

After the NFL and several NBA teams in the US started toying with Bitcoin, it was in fact the Canadian Elite Basketball League that made Bitcoin payments for players universally official this weekend.

Canadian Elite Basketball League introduces #crypto payments for its professional players. https://t.co/Uv9uxYoINe

— Bitcoin News (@BTCTN) June 19, 2021

This makes them the first North American professional sports league to offer the option of paying its players directly in Bitcoin.

Venture capital invests in crypto

Even though Bitcoin might be a bit of a bore, venture capitalists and international investors like Peter Thiel are still throwing money at crypto, indicating they trust it’s a business side of the future. So far in 2021, Bloomberg estimates there have been investments to the tune of $17 billion.

Venture Capital Makes a Record $17 Billion Bet on Crypto World https://t.co/nvxsrSr2gP

— Frank Chaparro (@fintechfrank) June 19, 2021

Ian Rogers, who works at crypto wallet company Ledger, saw investment of $380 million being poured into the company by venture capitalists. He explained it’s still early days, stating:

I’m of the opinion that everyone will own crypto, it’s just a matter of what price they get in. We’re still at the protocol phase, we know that there’s something here, you just can’t picture what it’ll exactly look like. For Ledger, we’re definitely not at the selling an iPod at Target moment yet.