https://www.youtube.com/watch?v=NW-A90B3Vhc
People are using their stimulus checks to buy BTC, India is closer to banning crypto entirely, and banks just can’t ignore Bitcoin anymore. Those stories and more this week in crypto.
According to a new poll by Mizuho Securities, many Americans who have just received their stimulus checks plan to use the funds to buy BTC and other cryptocurrencies. An impressive two in five respondents said they wanted to buy Bitcoin with at least some of the money they received. It is estimated that this could mean an inflow of nearly $ 40 billion into the market.
According to a new report from financial giant JPMorgan, the world of crypto investors is currently dominated by retail investors who bought nearly 15,000 more bitcoins than institutions in the first quarter of 2021. While institutional investors dominated the final months of 2020, it appears that this large-scale activity has declined a bit in the new year.
After much speculation, India appears poised to propose a total ban on all crypto trading and related activities. While the law has not yet been passed, crypto holders are likely to face fines, while miners may even face jail sentences for mining new coins if the law gets the go-ahead.
Global banking giant Deutsche Bank has released a report devoted exclusively to Bitcoin. According to analysts, Bitcoin’s $ 1 trillion market cap and potential for further growth have made cryptocurrency “too important to ignore.” Deutsche Bank suggested that the price of Bitcoin “could continue to rise” as long as asset managers and corporations continue to enter the market but expect high volatility in the short term.
Wall Street Investment Bank Morgan Stanley opens access to funds that enable Bitcoin ownership. Morgan Stanley only allows its wealthier customers with at least $ 5 million to access the bitcoin funds managed by Galaxy Digital, a crypto firm founded by Mike Novogratz.
Unsurprisingly, Bitcoin is the top performing capital of the decade, according to Compound Capital Advisors. The currency has achieved a return of more than 200 percent in the past year alone. As of 2011, the asset’s accumulated gains have exceeded a whopping 20 million percent, outperforming traditional assets like the Nasdaq and the gold market.
Grayscale – provider of one of the world’s largest Bitcoin trusts – has introduced five new trusts with which its customers can be exposed to lesser-known altcoins. The trusts offer traders the opportunity to explore and invest in Filecoin, Chainlink, Basic Attention Tokens, Livepeer and Decentraland, a virtual reality platform that uses their own cryptocurrency.
The Oakland As surprised crypto fans by listing all ticket prices in bitcoin, becoming the first major league baseball team to do so. If you want to watch a game from Oakland A, you can pay for a full suite (seats up to six people) for the price of one bitcoin.
This is exactly what happened in Crypto this week. Until next week.
