Bitcoin recovers most of its losses after the price collapse

The last week has been difficult for Bitcoin, by continuing to decline from its ATH, exacerbated further by concerns about the Omicron variant later this week, and ending with India's decision to ban crypto assets that also drove prices down. The price, however, recovered a significant part of its losses after the Friday's collapse.

Bitcoin started the week at around $ 58 and stayed at that level during the week. The cryptocurrency hit $ 000 on Thursday before being hit hard by investor concerns about the Omicron variant. BTC dropped to $ 59, but rose over the weekend and is now trading back above $ 000.

Ethereum it also faced an unstable week, dropping below $ 4000 amid fears over Omicron - price dropped more than 10%. The cryptocurrency started the week below $ 4400, then dropped to nearly $ 4000 before hitting a high of $ 4481 on Thursday. The price crash on Friday dropped its value to $ 3, but over the weekend it recovered somewhat, now trading above $ 944.

El Salvador invests again after a sharp decline

As crypto prices fell last week, the president of El Salvador Nayib Bukele announced via Twitter that his country had bought more bitcoins.

On Twitter, Bukele announced:

"El Salvador just bought after inheritance."

The country bought around 100 BTC to top up the 1000 tokens it had already acquired before November. The Central American leader does not appear to be far from breaking news at the moment, after the Bank of England snapped back over criticism of its bitcoin plans.

Bukele, again on Twitter, responded to the governor's comments Bank of England Andrew Bailey, saying:

"Bank of England worried about Bitcoin adoption by El Salvador?" Really? It seems to me that the Bank of England's interest in our people's well-being is genuine. Truth? I mean, they've always cared for our people. Always. You have to love the [sic!] Bank of England.

The country was also in the news last week as it announced it intends to sell tokenized 10-year dollar-denominated bonds worth $ 1 billion, despite holding some of the least valuable government bonds in emerging markets.

Tanzania is paving the way for CBDC

Tanzania plans to introduce its own Central Bank Digital Currency (CBDC) as it claims it does not want to be left behind with emerging innovations in the cryptocurrency market.

Speaking at a financial conference on Thursday, Tanzania's central bank governor Florens Luoga announced:

"So that our country does not lag behind the adoption of the central bank's digital currencies, the Bank of Tanzania has already started preparations to have its own CBDC."

There is little more information about East African plans for CBDC, but Luoga added that officials are expanding the scope of their research and "strengthening the ability" to introduce their own digital currency, Bloomberg reports. The Tanzanian Autonomous Region of Zanzibar has already expressed an interest in CBDC, and the government is sourcing stakeholders to obtain their views on crypto assets.

AMC and Sony launch Spider-Man NFT

Cinema network AMC and its partner Sony Pictures release 86 theaters NFT with the premiere of the new movie Spider-Man: No Way Home. Anyone who buys a screening ticket from December 16 will be able to redeem the code through a specially created website and get one of the 100 NFT projects via the Wax blockchain. AMC previously announced that it would start accepting cryptocurrencies for payment for tickets, but the switch to NFT technology is the first case for the company.