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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Bitcoin Bull Mike Novogratz Insists ‘Crypto Revolution Has Happened’ Despite Falling Prices, liquidation

Bitcoin Bull Mike Novogratz Insists 'Crypto Revolution Has Happened' Despite Falling Prices, liquidation

Galaxy Digital CEO Mike Novogratz says that despite massive sell-offs across a broad range of cryptocurrencies, the story of crypto has not changed and “the crypto revolution has happened.” While viewing the current market as a “liquidation event” and a setback, Novogratz still believes in the long-term adoption of bitcoin.

Crypto Revolution Amid ‘Liquidation Event’

Mike Novogratz shared his view on the crypto market in an interview with CNBC this week. He calls the bitcoin plunge a “liquidation event” that feels like capitulation.

The Galaxy Digital CEO has long been pro-bitcoin. In his view, recovery will take some time. “Humpty Dumpty never gets put back together in two days … when he cracks,” he opined. “It’s going to take a while. The market will consolidate. It will find a bottom somewhere. I’m hoping it’s close to here.” However, Novogratz emphasized:

The story hasn’t gone anywhere. This crypto revolution has happened, but these are certainly setbacks for the wallets and for the investor base. People lost a lot of money, so they’ll dust themselves off.

Commenting on a recent JPMorgan research claiming that investors are moving away from bitcoin into gold, Novogratz remained optimistic on the long-term adoption of bitcoin.

“I see a movement,” he further shared, adding that he was out with two bank CEOs last month and both were fascinated with decentralized finance (Defi). “I just see an inexorable move from financial institutions and tech companies into the crypto space,” he affirmed.

Novogratz pointed to several factors behind the falling price of bitcoin in recent weeks, including comments from Tesla CEO Elon Musk regarding bitcoin mining’s energy usage after Tesla decided to stop accepting bitcoin for payments.

The Galaxy Digital executive concluded:

A lot more people own crypto. Crypto has seeped into pockets all over our society and you had a confluence of events — a combination of tax day, Elon Musk tweets, whatnot, where you started breaking down the positivity in the price action, and now we’ve got a liquidation event.

Do you agree with Mike Novogratz about bitcoin and the crypto revolution? Let us know in the comments section below.

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