Bitcoin on the path to $50,000 as Wall Street’s interest grows | Crypto News
Extra corporations are starting so as to add companies for cryptocurrencies, though the asset class stays flippantly regulated and controversial amongst policymakers.
Indicators of a widening embrace throughout the monetary companies trade despatched Bitcoin to new heights, with the cryptocurrency closing in on $50,000 for the primary time earlier than falling again.
Per week after Tesla introduced its $1.5 billion funding in Bitcoin, the digital asset continues to make inroads into conventional finance, together with information that an funding unit of Morgan Stanley is contemplating whether or not to guess on Bitcoin. Canada additionally permitted the primary North American Bitcoin exchange-traded fund.
And there’s proof that extra corporations are starting so as to add companies for cryptocurrencies — an asset class that’s nonetheless flippantly regulated and controversial amongst policymakers. On Thursday, BNY Mellon stated it’s fashioned a new workforce that’s growing a custody and administration platform for conventional and digital property. Mastercard Inc. has stated it can start permitting cardholders to transact in sure cryptocurrencies on its community.
The mix of luminaries like billionaire Elon Musk and powerhouse banks is including recent ammunition to Bitcoin’s meteoric good points. The cryptocurrency neared $50,000 in weekend buying and selling earlier than retreating. Costs are up some 40% in February, and have been at about $48,000 as of 1:39 p.m. in London on Monday.
“The important thing for Bitcoin’s path larger is to win over extra company endorsements,” stated Edward Moya, senior market analyst at Oanda Corp. “Bitcoin is not any stranger to large weekend strikes and the subsequent a number of days might simply see some wild swings.”
There stays a fierce debate over whether or not Bitcoin is a reputable asset with any actual function or worth. The token has been derided for its function in cash laundering and scams, and lately Nassim Nicholas Taleb, writer of “The Black Swan,” stated he’s eliminating his Bitcoin. A foreign money is rarely speculated to be extra unstable than what you purchase and promote with it, Taleb stated on Twitter, including you could’t worth items within the cryptocurrency. “In that respect, it’s a failure (no less than for now).”
Even so, the worth pattern has been up, and Bitcoin stands as one other instance of the speculative excesses which can be defining this bull market — together with penny shares and hashish corporations.
There are hints that extra Wall Avenue heavyweights might dip into the crypto market. In an interview with CNBC, JPMorgan Chase & Co. Co-President Daniel Pinto stated that shopper demand isn’t there but on Bitcoin, however he’s sure that’ll change.
Bloomberg reported that Counterpoint International, a unit of Morgan Stanley Funding Administration, is exploring whether or not the cryptocurrency can be an appropriate possibility for its buyers, in accordance with individuals with data of the matter. Transferring forward with investments would require approval by the agency and regulators.
“With every main announcement just like the one BNY Mellon made, different establishments are spurred to extra speedy adoption and deployment of digital property,” stated Patrick Campos, chief technique officer at Securrency, a developer of blockchain-based monetary and regulatory know-how, on Friday.
“Tesla’s current announcement will embolden different giant corporates and establishments to simply accept crypto as not only a worthy asset class, however even perhaps a vital one,” he stated.
- Groupe Crypto Finance : Pourquoi chaque banque aura besoin d’une stratégie d’actifs cryptographiques
- Bitcoin on the path to $50,000 as Wall Street’s interest grows
- 🔴 BITCOIN & ETHEREUM Price Prediction: DUMP is REAL!!! // Daily Crypto Technical Analysis | Coin Crypto News
- Top 5 Crypto News: 02/15 – Cryptocurrency News
- SBI Holdings in Talks with Foreign Firms to Start Crypto Joint Venture
Groupe Crypto Finance : Pourquoi chaque banque aura besoin d’une stratégie d’actifs cryptographiques
ZURICH, 15 février 2021 /PRNewswire/ — Nous vivons à l’ère du bouleversement numérique qui s’est accéléré au cours de l’année dernière. Les banques centrales déclenchent des niveaux records de stimulation monétaire, tandis que la technologie continue à remodeler rapidement notre économie mondiale. Elle nous a montré que la pensée conventionnelle n’apportera pas les réponses à ce qui nous attend. Au milieu de ce changement, les actifs cryptographiques apparaissent comme un « refuge » pour les investisseurs institutionnels à la recherche d’autres réserves de valeur pour leurs portefeuilles d’investissement.
En effet, la société de courtage Crypto Finance a reçu la licence de maison de courtage de la part du régulateur suisse FINMA. Le moment ne pourrait pas être mieux choisi. Le PDG Rupertus Rothenhäuser explique pourquoi.
Une nouvelle classe d’actifs est en train d’émerger : les actifs cryptographiques. Il s’agit d’une catégorie d’actifs conçue pour la nouvelle ère numérique dans laquelle nous entrons. Les bitcoins et autres actifs cryptographiques ont attiré les investisseurs particuliers et maintenant l’attention des investisseurs institutionnels, qui sont attirés par l’indépendance dont ces actifs jouissent par rapport aux politiques des banques centrales et des gouvernements, et par la technologie de la chaîne de blocage qui façonne l’avenir de la finance.
Chaque banque aura besoin d’une stratégie de cryptage des actifs
Les banques devront à la fois créer l’infrastructure pour les actifs cryptographiques et répondre en tant que conseillers de confiance aux clients qui souhaitent investir dans cette classe d’actifs. Cela crée une dualité difficile : le système financier actuel demeure, et ce nouveau secteur de financement des actifs numériques émerge. S’assurer l’expertise d’un partenaire spécialisé pour le commerce et l’investissement dans les actifs cryptographiques, et développer une stratégie en matière d’actifs numériques, est un moyen efficace de répondre à ce besoin d’innovation, par étapes progressives.
Accroître la clarté réglementaire sur les actifs cryptographiques
Avec une nouvelle loi DLT sur les actifs cryptographiques qui entrera en vigueur en février 2021, la Suisse est l’un des rares pays à disposer de cette clarté réglementaire. La licence de maison de titres accordée par la FINMA à Crypto Broker AG, la société de courtage du groupe Crypto Finance, est une étape supplémentaire pour permettre au secteur financier d’accéder de manière sûre et fiable aux actifs cryptés.
Rupertus Rothenhäuser, PDG de la société de courtage, commente : « Il est maintenant possible pour les banques de mettre en place une stratégie de cryptage dans le secteur financier réglementé », basée sur la gamme complète de services financiers de cryptage que le groupe Crypto Finance fournit aux investisseurs professionnels. Pour en savoir plus : https://www.cryptofinance.ch/en/why-every-bank-will-need-a-digital-asset-strategy/
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Demandes de la presse : Yara Ainsworth, tél. : +41 41 552 45 31, [email protected]
SOURCE Crypto Finance AG
Author: Crypto Finance AG
Bitcoin on the path to $50,000 as Wall Street’s interest grows
More companies are beginning to add services for cryptocurrencies, although the asset class remains lightly regulated and controversial among policymakers.
Signs of a widening embrace across the financial services industry sent Bitcoin to new heights, with the cryptocurrency closing in on $50,000 for the first time before falling back.
A week after Tesla announced its $1.5 billion investment in Bitcoin, the digital asset continues to make inroads into traditional finance, including news that an investment unit of Morgan Stanley is considering whether to bet on Bitcoin. Canada also approved the first North American Bitcoin exchange-traded fund.
And there’s evidence that more companies are beginning to add services for cryptocurrencies — an asset class that is still lightly regulated and controversial among policymakers. On Thursday, BNY Mellon said it’s formed a new team that’s developing a custody and administration platform for traditional and digital assets. Mastercard Inc. has said it will begin allowing cardholders to transact in certain cryptocurrencies on its network.
The combination of luminaries like billionaire Elon Musk and powerhouse banks is adding fresh ammunition to Bitcoin’s meteoric gains. The cryptocurrency neared $50,000 in weekend trading before retreating. Prices are up some 40% in February, and were at about $48,000 as of 1:39 p.m. in London on Monday.
“The key for Bitcoin’s path higher is to win over more corporate endorsements,” said Edward Moya, senior market analyst at Oanda Corp. “Bitcoin is no stranger to massive weekend moves and the next several days could easily see some wild swings.”
There remains a fierce debate over whether Bitcoin is a legitimate asset with any real purpose or value. The token has been derided for its role in money laundering and scams, and recently Nassim Nicholas Taleb, author of “The Black Swan,” said he’s getting rid of his Bitcoin. A currency is never supposed to be more volatile than what you buy and sell with it, Taleb said on Twitter, adding that you can’t price goods in the cryptocurrency. “In that respect, it’s a failure (at least for now).”
Even so, the price trend has been up, and Bitcoin stands as another example of the speculative excesses that are defining this bull market — along with penny stocks and cannabis companies.
There are hints that more Wall Street heavyweights could dip into the crypto market. In an interview with CNBC, JPMorgan Chase & Co. Co-President Daniel Pinto said that client demand isn’t there yet on Bitcoin, but he’s certain that’ll change.
Bloomberg reported that Counterpoint Global, a unit of Morgan Stanley Investment Management, is exploring whether the cryptocurrency would be a suitable option for its investors, according to people with knowledge of the matter. Moving ahead with investments would require approval by the firm and regulators.
“With each major announcement like the one BNY Mellon made, other institutions are spurred to more rapid adoption and deployment of digital assets,” said Patrick Campos, chief strategy officer at Securrency, a developer of blockchain-based financial and regulatory technology, on Friday.
“Tesla’s recent announcement will embolden other large corporates and institutions to accept crypto as not just a worthy asset class, but perhaps even an essential one,” he said.
Author: By Lynn Thomasson and Joanna OssingerBloomberg
🔴 BITCOIN & ETHEREUM Price Prediction: DUMP is REAL!!! // Daily Crypto Technical Analysis | Coin Crypto News
#bitcoin #ethereum #crypto #btc #eth #bitcoinnews #cryptocurrency #altcoins #blockchain
Author: Post Author: CoinCryptoNews
Top 5 Crypto News: 02/15 – Cryptocurrency News
Let’s find out some interesting crypto news for today.
DIA partnered with Polygon (previously Matic) to provide transparent and community-verified price oracles on the Matic ecosystem. Together, the team will work on payment applications, on-chain deals for gaming applications, and optimize the execution of DEX trades. Moreover, DIA will also boost the application development of the Matic ecosystem. Apart from this, DIA’s grant and acceleration program for the DeFi data ecosystem will back Matic developers in the Build-n-Earn program. This program serves the development of dApps with DIA data feeds and supports developers with a predictable cash flow.
Qtum announced it will lock $20 million worth of Qtum tokens. According to the tweet, Qtum has worked with blockchain exchange Gate.io to lock these tokens. Moreover, these tokens are wrapped to spur the DeFi opportunities on numerous Ethereum decentralized exchanges. Additionally, Gate.io will help users to swap QTUM coins to wrapped QTUM (wQTUM) tokens to employ in the Ethereum DeFi ecosystem. In addition, users will be able to do liquidity mining with wQTUM on the ZKS (Zero-Knowledge Swaps) DEX starting from February 15, 2021.
ARCStake and Disruptive Digital joined the Elrond ecosystem as node operators. Jointly, the team will develop tools and applications for the Elrond ecosystem. The ARCStake is geared up by the ARC Soft development team. This team is working on the implementation of the Zabbix plugin on the Elrond wallet to monitor Elrond nodes. However, Disruptive Digital is a group of blockchain enthusiasts who worked on an inventive secret phrase backup mechanism called KryptoDots that is compatible with Elrond. Collectively, the team will further expand the infrastructure and services of non-technical supporters for the Elrond ecosystem.
Swipe announced their roadmap with enhancements for SXP on-chain and for the Swipe wallet app. According to the tweet, the team has plans to upgrade the Swipe wallet to make it a non-custodial digital wallet where users can control their keys and funds. Moreover, a custodial card wallet will be introduced in the app through which users can add crypto funds and use them with real-time conversions. In addition, users can also earn liquidity provider (LP) tokens which will be used to farm other digital assets, including SXP from transaction fees. Additionally, the team is also working on the expansion of crypto-fiat offerings.
In our last bit of crypto news, Venus Protocol, the stablecoin platform that operates on Binance Smart Chain, released its roadmap for 2021. As per the tweet, the team is working on a lot of enhancements, such as Venus origination fees, increased collateral factors, and more. Moreover, the team is planning to allow users to use their vXVS tokens to be involved in governance votes. Additionally, the project is working on the Venus DEX and on a reward program to airdrop Venus Reward Tokens (VRT) to the XVS holders. Furthermore, they also have plans to launch a fixed-rate lending system where both the supplier and borrower can calculate their earnings and how much they will pay in interest.
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SBI Holdings in Talks with Foreign Firms to Start Crypto Joint Venture
The founder expects that SBI Holdings will take advantage of the cryptocurrency boom to make the area its key earner.
Yoshitaka Kitao, the founder of SBI Holdings Inc, has disclosed that the Japanese financial firm is in talks with foreign financial firms to establish a crypto joint venture. This initiative follows the recent global interest in Bitcoin and Ethereum sending their prices to $48000 and $1800 respectively. Both assets have been said to be an alternative investment target.
According to Kitao, the world has seen a massive evolution in the investment ecosystem as people have moved away from the previous primary Investment targets of Bonds and Stocks.
Kitao also revealed that the company was working on at least two deals in a bid to advance the idea of establishing the cryptocurrency joint venture. However, he failed to provide good details about the possible partners. It is worth noting that SBI Holdings is not new to providing crypto services. The company has since 2018 provided a cryptocurrency trading service just like most of the popularly known online brokerage.
Kitao acknowledges the direction to which the cryptocurrency industry is moving to with institutional investors and well known global influencers attaching themselves to it.
“Institutional investors, mainly hedge funds, have recently started investing in cryptocurrencies…Not just institutional investors but also Elon Musk has,” he said.
Elon Musk, the CEO of Tesla Inc (NASDAQ: TSLA) disclosed recently that the company has under a new policy purchased about $1.5 billion Bitcoin. The new policy permits them to be purchasing and holding digital assets from time to time. In just a month of holding Bitcoin, the company made more profits compared to what they could have made in just car making. The price of Bitcoin staged a bull run following the rise in demand to set an all-time high price. Their move is expected to lead more other companies into Bitcoin just as Kitao mentioned Tesla’s investment as a reference.
Kitao expects that SBI Holdings will take advantage of the cryptocurrency boom to make the area its key earner. Coupled with that, he expects that large scale acquisitions and mergers are established in the future. Last year, they acquired Tao Tao, a local exchange to boost the cryptocurrency portfolio. Also, they acquired a 90% stake in B2C2, a London-based cryptocurrency market maker.
The company has begun to see the impact in its figures as they made $63.9 million in the first nine months to December as a pretax profit. This was an 83% increase from the same period the previous year.
“To become number one in the world, our choice is buying a leading company or creating an alliance with major global companies,” he said. “Our M&A strategy will not be something like taking minority stakes in many companies, ” said Kitao.
Other updates from the crypto industry can be found here.
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Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.
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