Daily Authority: 💲 Bitcoin bites

🚗 Good morning! Paula here covering for Tristan for the next three days. My car is finally fixed, two weeks after a breakdown, which I’m pretty excited about. Speaking of excitement, we’ve got a busy day tomorrow, with Google I/O kicking off, plus Sony’s event, where we could see the Sony Xperia 1 IV. Phew!

Bitcoin Bites: A new low for crypto

Last weekend, Bitcoin slumped to a new low, below $33,000, for the first time since July 2021. According to data from CoinDesk, it dropped 5% to $32,860.91 at 7:12 AM ET.

That’s significant enough in itself — more so if you invested six months ago and were already planning how to spend your returns. You’re not alone though: most retail investors have lost money to crypto this year.

Gizmodo looked at how much money you’d have right now if you bought $100 of cryptocurrency six months ago, and the results are pretty interesting indeed (we can’t take credit for the math!).

• Bought $100 of bitcoin six months ago? Then you have $50.65 of bitcoin right now.
• If you bought $100 of Dogecoin six months ago, you’ll have $40.82 of Dogecoin right now.
• And for those who bought $100 of Ethereum six months ago, you’ll have $51.74 of Ethereum right now.

There is one exception though: Terra Luna. Despite the fact it tumbled by 12.0% last weekend, if you bought $100 of the cryptocurrency six months ago, you’d have $119.49 of Terra Luna right now.

Is it all bad news?

Experts say if bitcoin falls below $30,000, it could even drop further to $29,000 in the coming weeks, and even as low as $25,000 before any significant move back up. Stock markets are in a similar position, under pressure from surging inflation, economic events including Russia’s invasion of Ukraine, and more.

💲 Instagram to start testing NFTs with select creators this week with support for Ethereum and Polygon at launch, Flow and Solana coming soon (TechCrunch).

📱 And Google I/O kicks off tomorrow and we’ll have all the coverage: Here’s what to expect (Android Authority).

• No great surprise to see China and the US up there leading the pack with 11.68bn tonnes and 4.54bn tonnes per person respectively — and of course a lot of that is down to industry.
• But what might surprise you is how low those figures from Russia are: 1.67bn tonnes of CO2 per person. The UK is even lower still at just 0.31bn tonnes per person.
• Peru’s one of the countries with the lowest emissions per person at just 0.04bn tonnes.
• Other countries like Colombia, Ecuador, Venezuela, Greece, and Uzbekistan (among others) also have extremely low figures.
• And from the comments over on r/dataisbeautiful, Costa Rica is on its way to becoming carbon negative, meaning it will likely soon absorb more climate-changing emissions than it produces.
• The Kingdom of Bhutan is already carbon negative. It produces 1.5 million tonnes of carbon each year but absorbs more than six million tonnes thanks to its 72% forest coverage.

A little something extra: What tiny Bhutan can teach the world about being carbon negative.

See you tomorrow for all things Google I/O!

Paula Beaton, Copy Editor.