Bitcoin rally, Visa buys CryptoPunk, Jack Dorsey mining

    The cryptocurrency market is starting the week off strong.

    Bitcoin, the largest cryptocurrency by market value, hit a more than three-month high on Sunday, topping $50,000, and is trading at around $49,600 as of Monday afternoon.

    Other top cryptocurrencies, like ether, cardano and dogecoin, are up as well, with the value of the entire cryptocurrency market at over $2.15 trillion, according to CoinMarketCap.

    Between Visa buying a CryptoPunk non-fungible token, or NFT, for six figures and Twitter and Square CEO Jack Dorsey trying bitcoin mining, here are six things that happened in the crypto space this past week.

    1. Jack Dorsey says he is ‘trying’ bitcoin mining

    2. Robinhood says dogecoin accounted for 62% of crypto revenue in Q2

    3. Coinbase is buying $500 million in crypto on its balance sheet

    4. The world’s second-largest stablecoin is changing its makeup

    5. Hacker behind $600 million crypto heist returns all stolen funds

    6. Visa bought a CryptoPunk

    Visa announced that it bought a CryptoPunk NFT for $150,000 in ether.

    “Today, as we enter a new era of NFT-commerce, Visa welcomes CryptoPunk #7610 to our collection,” the company tweeted on Monday.

    CryptoPunks are an assortment of 24×24 pixelated avatars, each considered to be rare NFT collectibles. There are a total of 10,000 in existence and no two are exactly alike. Each has its own unique features and accessories.

    “We think NFTs will play an important role in the future of retail, social media, entertainment and commerce,” Cuy Sheffield, head of crypto at Visa, said in a blog post on Monday. “To help our clients and partners participate, we need a firsthand understanding of the infrastructure requirements for a global brand to purchase, store and leverage an NFT.”

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