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Last week, the combined value of the Scaramucci said he believes money manager performance will eventually be benched off of bitcoin, with companies like MicroStrategy and electric car-maker Tesla's bitcoin-buys helping to normalize institutional adoption.
List of Partners vendors. It is even easy to forget what you have and where. The British pound rallied on Friday to break above the 1. Germany's BASF is benefiting as people under lockdown fix up their homes but its CEO said the chemical maker may be left out of the party after the pandemic as consumers turn their spending to entertainment. I would like to be emailed about offers, events and updates from The Independent. We and our partners process data to: Actively scan device characteristics for identification.
The current bitcoin price bull run has taken bitcoin far past its previous highs. In addition, some think that this interest in bitcoin from Wall Street and major corporations will trigger fresh retail demand for bitcoin. B , this week warned he doesn't see bitcoin making it as either a payment system or as "digital gold.
And since I never buy any gold, I never buy any bitcoin. I am a journalist with significant experience covering technology, finance, economics, and business around the world. As the founding editor of Verdict. I have covered the rise of bitcoin and cryptocurrency since and have charted its emergence as a niche technology into the greatest threat to the established financial system the world has ever seen and the most important new technology since the internet itself.
Follow me on Twitter billybambrough or email me on billyATbillybambrough. Disclosure: I occasionally hold some small amount of bitcoin and other cryptocurrencies.
This is a BETA experience. Now that Bitcoin has passed the big 50, there are several things that cryptocurrency enthusiasts and skeptics alike are looking forward to.
Only a few investors and analysts were able to predict the massive surge in bitcoin price and hedge fund manager Mike Novogratz was one of them. Looking at previous surges in price and the current price trend, it would seemingly take a miracle for that to happen. But bitcoin has been known to pull off some surprising price stunts that are nothing short of magical. On the side of technical analysis, many cryptocurrency platforms also have made price forecasts about what to expect from BTC.
Given that the price of the cryptocurrency has more than doubled its price in the past two months, it doesn't seem entirely impossible that the same thing could happen within the next ten months. But all of these predictions have one thing in common; they see the value of bitcoin rising. Considering that the cryptocurrency is in the price form of its life, it is probably only a full-fledged skeptic that would have a negative price outlook.
While it is hard to tell with certainty what will happen to the price of bitcoin, one thing is sure: It is getting the attention of institutional investors.
The primary issue that most institutional investors have with bitcoin is its volatility. But in the current inflationary economic climb, where not taking a risk seems like a more significant risk, investors seem ready to bet on bitcoin. Mastercard has already announced plans to facilitate bitcoin transactions.
Apple seems to be considering investing in bitcoin. As noted above, BNY Mellon plans to include digital assets in its offerings. Even JPMorgan is optimistic about bitcoin.
So, you see, major institutions have been backed into a corner of either accepting that BTC is the present and the future, or being left behind. However, adoption doesn't mean that bitcoin will become the world reserve currency.
› news-releases › predictions-point-to-bitcoin-could-. Yet, we witnessed one financial asset on the rise - Bitcoin. The new-age digital currency saw a price recovery from Rs 6,00, in March
Many believe it will only become a more accepted value store. Its current price and the likelihood of even higher importance in the future may actually make it more difficult for bitcoin to become a standard transactional currency. Thus, as time goes, we could witness more institutional and mainstream adoption of the cryptocurrency as a store of value than as a payment method for goods and services. As bitcoin continues to climb higher, more regulations don't just look likely, they have become an inevitability.
There's a need for action. This is evidenced in a recent statement made by a commissioner of the U. Securities and Exchange Commission, Hester Peirce, who said that there is now an urgent need for more regulatory clarity concerning the use of cryptocurrencies. She is not alone with this view, as this writer also shares the same thought.
As BTC becomes more mainstream, regulatory bodies have to become more proactive and take a more cursory look at how the industry could serve the interests of their people. They should avoid reactionary actions, like those of the Nigerian or Indian governments, which have both decided to effectively ban cryptocurrencies in their jurisdictions. Instead, more regulatory clarity should be offered to the industry and, with time, everyone will become enamored with the cryptocurrency space.