Bitcoin rally, first bitcoin-linked ETF to debut

The price of bitcoin, the largest cryptocurrency by market value, surged above $62,000 on Friday after news that the Securities and Exchange Commission would allow the first bitcoin-linked exchange-traded fund debut.

Bitcoin extended its rally over the weekend, currently trading at around $61,285, according to Coin Metrics.

That, along with other news, like Jamie Dimon calling bitcoin “worthless” and Coinbase announcing plans to launch an NFT, or nonfungible token, platform, dominated this past week. Here are seven key things that happened in crypto.

1. Jamie Dimon says bitcoin is ‘worthless’

2. Coinbase is launching a marketplace for NFTs

3. The U.S. is officially the top destination for bitcoin miners

4. Coinbase says the U.S. should create a new cryptocurrency regulator

5. Tether hit with a $41 million fine

6. Jack Dorsey says Square may build a bitcoin mining system

Square CEO Jack Dorsey tweeted on Friday that the company is considering building a “bitcoin mining system based on custom silicon and open source for individuals and businesses worldwide.”

Dorsey said that mining, which is the process of solving complex math problems to earn cryptocurrency like bitcoin, should be more distributed, efficient and accessible, rather than concentrated to a few companies.

“Bitcoin mining should be as easy as plugging a rig into a power source,” Dorsey tweeted.

This isn’t a surprising move for Dorsey, who has both personally and professionally supported bitcoin many times in the past. In August, Dorsey even said he is “trying mining” bitcoin himself.

7. First bitcoin-linked ETF to debut this week

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