Axie Infinity Up 40% And Republicans Set To Embrace Bitcoin At The Texas Blockchain Summit

Last Updated on 4 October 2021 by CryptoTips.eu


Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / [email protected]

Back in July of this year we mentioned Axie Infinity twice in our reporting. The second time round we mentioned how the popular Pokémon-style game was already trading its own crypto coin at around $40.

We also mentioned that the fact that more and more players from the US were joining was a good sign. If you look at the top 100 of CoinMarketCap today it’s clear to see that Axie Infinity is once again the big winner, this time trading at around $159, up some 40% for the day.

Infrastructure bill

Saturday Night Live (SNL) returned over the weekend and the top US comedy show was quick to show in it’s opening segment that President Joe Biden is having a tough time getting his infrastructure bill passed in Congress where his own Democratic party holds a slim majority.

Meanwhile on the other side of the political aisle, the Republicans seem ready to embrace millennials and their newest hobby. With 15% of Americans now holding some form of crypto, that is perhaps not too surprising.

And the place where Republicans are embracing Bitcoin is deep inside the heartland of the USA. Yes, the conservatives in Texas are ready to upstage Florida (remember the Miami bitcoin event earlier this year) when it comes to being the state that is ready to welcome Bitcoin.

Mining migration

Texas has recognized that China’s decision to cancel bitcoin mining has a major potential upside in launching a totally new economy. In what has become known as the Great Mining Migration to Austin, Texas Governor Gregg Abbott, who’s keen on re-election, has embraced the mining of cryptocurrency.

Thanks to his efforts, the Texas Blockchain Council has grown to 70 members and is led by Lee Brachter, the President of the organization. End of the week, they will be joined on stage of the Texas Blockchain Summit by none other than Senator Ted Cruz, Senator John Cornyn and Senator Cynthia Lummis.

Texas Governor Greg Abbott recently said on Twitter that:

Texas will be the crypto leader. Cryptocurrency is now coming to Texas grocery stores.

With a state that by itself would be the in the world’s top ten largest economies, that’s very good news. Not so good for President Joe Biden though.