Hey folks,
No, this is not an ad for Thailand tourism. This is just great news for crypto holders planning a Thai vacation.
Thailand now allows tourists to pay with Bitcoin. You can now convert your crypto to baht and use it via regular QR codes in shops and restaurants.
Why is this a big deal?
On average, Indians spend between Rs 80,000 and Rs 1+ lakh on a Thailand trip. Somewhere between 1.5 and 2 million Indian tourists visit Thailand. That’s between Rs 12,000 cr and Rs 20,000 crore to their economy.
Imagine if 10% of this spend shifts to crypto? Rs 1200 cr - Rs 2000 cr!
That’s not it. Here’s another masterstroke from the world of travel: Emirates will soon let you pay for flights in crypto. The rollout is still a few months away. But the potential is massive. Emirates runs one of the biggest fleets in the world with over 260 aircraft. Revenue? $39.6 billion in FY25. A 10% shift? ~ $4 bn on crypto!
In Asia again, Japan is preparing to launch its first regulated yen-backed stablecoin later this year, with full-scale adoption expected in 2026. And it is not just Japan. Stablecoins are rising everywhere, becoming a bridge between traditional finance and the crypto economy (read for more).
Meanwhile, in the U.S., crypto companies are lining up for the big leagues.
Bullish, the parent of CoinDesk, pulled off a blockbuster IPO, raising over $1.1 billion with backing from BlackRock. And crypto exchange Gemini has filed to list on Nasdaq under the ticker GEMI.
That is, Wall Street ❤️ crypto.
Wait, there’s more.
Norway’s sovereign wealth fund, the largest in the world at about US $1.7 trillion, has ramped up its crypto exposure through stakes in companies like MicroStrategy and Coinbase. The fund has increased its holdings to $870 mn, up 200% over the past year.
The fund powers much of Norway’s welfare. It’s also known to be conservative. So this investment in crypto is saying quite something about the mainstreaming of the asset!
Of course, not everything was rosy. Bitcoin climbed to a new high near $124,480 but then slipped back to around $115,000 after U.S. wholesale inflation came in hotter than expected. More than $1 billion in leveraged long positions were wiped out.
But if there is one person who is not worried, it is Michael Saylor. He has signaled that Strategy is ready to buy the dip. The company now holds about 628,946 BTC worth more than $72 billion, and the stock has gained about 25% this year. (Also read: Is this Indian Micro-cap the next MicroStrategy).
All in all, from Bangkok to Wall Street, the week showed us one thing: crypto is no longer waiting for permission; it’s steadily weaving itself into travel, finance, and investment. The question is how long before India, with its massive investor base, takes a similar leap.
BTC had a volatile week, briefly hitting a new all-time high above $123K before sharp pullbacks wiped out most of the gains. ETH also surged early but faced heavy profit-taking. Among altcoins, OKB, MNT, and ARB stood out with strong performances.
Weekly price movement:
BTC $115,363 ⏬ 5.23% (7d)
ETH $4,264 ⏬ 0.39% (7d)
OKB $115 ⏫ 147.7% (7d)
MNT $1.22 ⏫ 16.09% (7d)
ARB $0.51 ⏫ 11.58% (7d)
(All data here as of 2:23 p.m., 18 August 2025)
Before we conclude, here’s a quick look at some important news from around the crypto world.
The US Department of the Treasury is seeking public feedback on how digital identity tools and other emerging technologies could be used to fight illicit activity in crypto markets, with one option being embedding identity checks into DeFi smart contracts. The consultation, published this week, stems from the newly enacted Guiding and Establishing National Innovation for US Stablecoins Act (GENIUS Act), signed into law in July, according to Cointelegraph.
Crypto investment firm a16z and the DeFi Education Fund are petitioning the US SEC for regulatory safe harbors for websites and apps used to access DeFi projects. The SEC is under a new initiative, Project Crypto, to enact friendly policies for the digital assets industry. The request follows a surge in DeFi support from the White House and SEC Chairman Paul Atkins, according to CoinDesk.
That’s it for now. Thanks for sticking around.
See you later, folks! 👋