7th December 2022 Digital Bytes

Welcome to this week’s Digital Bytes. This week we have analysis on the following topics:

Bitcoin reminds us to question where is, and how safe is, my money? - many people do not realise that if you put your money with a bank, or store your cryptos on a central exchange (CEX), you become a creditor. Therefore, in the event of a bankruptcy or liquidation, you may not receive all your money back. Recently, we have seen the number of digital wallets that hold more one Bitcoin surge to over 950,000. It would seem, therefore, that either there are new Bitcoin purchasers or that existing holders of Bitcoin are turning their backs on CEXs and regaining control on where and how their Bitcoins are stored. So, is this a wider lesson for us all?

Meta’s adventure in the metaverse - the race for dominance of the metaverse has continued to thrive between top tech companies. Nothing beats Facebook’s decision to rebrand as Meta. Whilst many are yet to be convinced, the potential size of the metaverse i…