BTCUSD in the green this week despite of FUD coming from Goldman’s CIMD division. The arguments against crypto as an asset class were much of the same; 1) direct comparison to equity/bonds, 2) illicit use of crypto, 3) exchange hacks, and 4) bubble-like market behavior. The retaliation from more modern thought leaders prevailed and BTC actually rallied after the client call.
Post-halving, we’ve been monitoring miner activity. There were rumors of another “mining ban” in Sichuan which is a hotspot for Chinese miners. For now, this news has not been significant as total hashrate has actually bounced ~20% since May 26.
From the institutions, opinions on BTC are still a mixed bag. But what do the numbers point to? CME volumes continue to reach new highs while Grayscale has bought up nearly 19k BTC since the halving; this outpaces the # of coins mined in the same period.
Right here in HK, the SFC has given the green light to a second crypto fund, this time launched by Mai Capital. All of these data points indicate demand is growing on both the retail and institutional front.
Metexit! Facebook, now Meta, has seen an executive exodus with an executive at its cryptocurrency division leaving the company. Rob Collier, former head of consumer
United States Federal Reserve chair Jerome Powell opens the door to interest rate hikes next year. Also, Powell is not concerned about cryptocurrencies disrupting financial
Elon Musk, Time’s Person of the Year for 2021, has his carmaker Tesla start accepting meme coin Dogecoin. Customers can use the meme-based cryptocurrency to
Blockchain yes, bitcoin no? HSBC and Wall Street bank Wells Fargo announce a blockchain solution for the foreign exchange (FX) settlement. The two banks will
Is India accepting bitcoin as legal tender? A free bitcoin airdrop to all residents? Just a fake tweet from India Prime Minister Narendra Modi’s twitter
WhatsApp ventures into instant cryptocurrency payments, launching a trial in the US as a first step. Would it be a welcoming signal from the US