THE WORLD IS REALISING THE IMPORTANCE OF BITCOIN AND BLOCKCHAIN TECHNOLOGY
MicroStrategy announced the purchase of another $1.026 billion in bitcoin Wednesday, turning mountains of zero-interest debt into one of the single largest (dollar-denominated) bitcoin investments ever executed by a publicly traded company.
Square purchased 3,318 bitcoin at an aggregate purchase price of $170 million, the company announced on Tuesday. Bitcoin represents about 5% of Square's total cash, cash equivalents and marketable securities as of the end of last year. The company's bitcoin investment is a reflection of CEO Jack Dorsey's bullish stance on cryptocurrencies.
Massachusetts Mutual Life Insurance Co. has purchased $100 million in Bitcoin for its general investment fund, the latest mainstream firm to dabble in digit assets.The mutual insurer also acquired a $5 million minority equity stake in NYDIG, a subsidiary of Stone Ridge that provides cryptocurrency services to institutions, according to a statement. NYDIG, which already keeps more than $2.3 billion in crypto assets for clients, will provide custody services for MassMutual’s Bitcoins.
Electric automaker Tesla and cryptocurrency Bitcoin have a lot in common. Both have seen their market value skyrocket last year, defying skeptics and thrilling fans. Both are fueled by mass enthusiasm and techno-utopian idealism. And they've both got plenty of doubters warning a giant crash could be on the horizon. So when Tesla announced it would purchase $1.5 billion worth of bitcoin on Monday, and that it would accept the currency from customers in the future, it might have been tempting to dismiss this as an outlier — an oddball move from a company run by an eccentric CEO.
The first publicly traded bitcoin exchange-traded fund (ETF) in North America has collected $421.8 million in assets under management (AUM) in two days.
Purpose Investment’s bitcoin (BTC, +1.53%) ETF officially started trading on the Toronto Stock Exchange (TSX) under the ticker “BTCC” on Thursday.
The fund has seen huge interest, trading well over $100 million shares on its first day, and by the end of Friday it had collected $421.8 million AUM.
Whatever your opinions on cryptocurrencies — from a dyed-in-wool fanatic to utter skeptic — the fact remains that these digital assets are becoming a more important part of the payments world. We are seeing this fact play out on the Mastercard network, with people using cards to buy crypto assets, especially during Bitcoin's recent surge in value. We are also seeing users increasingly take advantage of crypto cards to access these assets and convert them to traditional currencies for spending.
The migration toward digital payments and digital representations of value continues to accelerate, driven by the COVID-19 pandemic and the increased interest in digital currencies from central banks and consumers. PayPal Holdings, Inc. (NASDAQ: PYPL) today announced the launch of a new service enabling its customers to buy, hold and sell cryptocurrency directly from their PayPal account, and signaled its plans to significantly increase cryptocurrency's utility by making it available as a funding source for purchases at its 26 million merchants worldwide.
Miami’s mayor, Mayor Francis Suarez, has been busy adding a personalized touch in trying to bring tech entrepreneurs to Miami. Striving to combine the financial elements of New York City and the technology character of San Francisco into a South Florida finance and tech oasis, the mayor is bringing a different attitude and policy outlook on innovation. Among one of the many areas this vision affects is bitcoin — something he believes, in an interview with Forbes, will be the “biggest story of the next few years.
Bitcoin’s remarkable ascent past $30,000 has stunned Wall Street — and one of the biggest U.S. investment banks thinks the digital currency could have much further to run.
In a note published Monday, JPMorgan made a bold long-term price target for bitcoin, claiming the red-hot cryptocurrency could rally as high as $146,000 as it competes with gold as an “alternative” currency.
DBS TO LAUNCH FULL-SERVICE DIGITAL EXCHANGE - PROVIDING TOKENISATION, TRADING AND CUSTODY ECOSYSTEM FOR DIGITAL ASSETS
Singapore, 10 Dec 2020 - DBS today announced that it will set up a digital exchange, enabling Institutional Investors and Accredited Investors to tap into a fully integrated tokenisation, trading and custody ecosystem for digital assets.