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“# Bitcoin is now worth more than Visa and Mastercard combined ” Bitcoin (BTC) did more than hit $60,000 per coin last week — it also became worth more than the world’s three biggest banks combined. According to publicly available data, the largest cryptocurrency surpassed the three highest-valued global banking giants by market capItalization. Bitcoin…
“# Crypto platform FalconX raises $50M on the back of institutional adoption ” FalconX, a cryptocurrency exchange focused on institutional investors, has raised $50 million from Tiger Global and B Capital Group — highlighting once again that digital assets are becoming more mainstream. FalconX didn’t specify how the funds would be deployed, but if it’s…
“# JPMorgan launching ‘crypto exposure basket’ featuring MicroStrategy and Square ” JPMorgan Chase has designed a new debt instrument that provides investors direct exposure to a basket of crypto-focused companies, according to a new filing with the United States Securities and Exchange Commission, or SEC. JPMorgan’s Cryptocurrency Exposure Basket (Mar 2021) is described as an…
“# JPMorgan report endorses 1% allocation to Bitcoin as a hedge ” Strategists at Wall Street banking giant JPMorgan have suggested that a one percent portfolio allocation to Bitcoin would serve as a hedge against fluctuations in traditional asset classes such as stocks, bonds, and commodities. A small percentage allocation was advised to mitigate the…
“# Soaring Treasury yields are worrying economists — But what does this mean for Bitcoin? ” This week’s correction in the price of Bitcoin (BTC) showed that a market doesn’t go up in a straight line. Meanwhile, another topic has been gaining attention, namely the big rise in the 10-year yields of United States government…
“# Nvidia supply shortage won’t stop $50M Q1 crypto miner sales, says CFO ” Nvidia’s ongoing supply problems won’t stop the company from selling $50 million worth of its new CMP chip range in the first quarter of 2021, the company’s chief financial officer Colette Kress forecasted on Feb. 24. Nvidia failed to meet demand…
“# State Bank of India joins JPMorgan’s blockchain payments network ” The State Bank of India, or SBI, a major Indian government-owned bank, is looking to improve cross-border payments with a blockchain solution by American investment bank JPMorgan Chase. According to a Feb. 23 report by The Economic Times, the SBI has joined Liink, a…
“# You’ve got the power? Legacy banks aim high with new crypto offerings ” Reports that legacy banks like BNY Mellon and Deutsche Bank are becoming active in the cryptocurrency space, including through custody services, should come as welcome news for crypto investors. Lost or misplaced private keys, after all, are a bane of the…
“# Crypto is ‘poorest hedge’ for drawdowns in equities, JPMorgan analysts say ” Analysts at American investment bank JPMorgan Chase have delivered another skeptical statement on Bitcoin (BTC), arguing that its current price is much higher than its fair value. In a regular memo for investors, JPMorgan argued that cryptocurrencies like Bitcoin are an “economic…
“# Bitcoin price rebounds as Morgan Stanley reportedly considering buying BTC ” Morgan Stanley, one of the biggest investment banks in the U.S., is reportedly considering investing in Bitcoin (BTC), according to reports. Bloomberg reported that Morgan Stanley’s $150 billion investing arm called Counterpoint Global could place Bitcoin to “its list of possible bets.” BTC/USDT…