Multinational financial services company Wells Fargo has been accused of hypocrisy over its seemingly confused stance on crypto assets. Whereas the firm has previously stated that it does not allow transactions involving cryptocurrency, it now appears that the financial giant is experimenting with its own digital currency. The third largest bank in the US announced…
Cryptocurrency market analyst Mati Greenspan has speculated that the current levels of Bitcoin dominance versus the rest of the cryptocurrency market might be the highest they will ever reach. He reasons that the last time Bitcoin dominance was as high as it is now, there wasn’t even a “developed market” for non-Bitcoin crypto assets. However,…
As part of a sponsorship deal, the kits of the UK Premier League football club Watford FC will now be adorned with the iconic Bitcoin “B” logo. The announcement comes following a three-year partnership between the team and Bitcoin sports betting platform Sportsbet.io. The company claims the move is part of a public awareness campaign.…
Central banks hoarding gold is thought to be accounting for a lot of the buying pressure sending the price of the precious metal upwards recently. Such a hunger for hard assets may one day see banks stock piling Bitcoin as part of their de-dollarisation efforts. Central banks in both Russia and China have been identified…
The world’s most dominant cryptocurrency exchange, Binance, is not satisfied with being the best in the industry. It literally wants to own it as Facebook has done with social media. The latest ambitions from the Malta based company include a localized stablecoin initiative that will rival Libra. Facebook in the Firing Line Not only has…
Demand for Bitcoin in Argentina and Hong Kong is such that locals are paying up to 10% above market price. The ongoing unrest in both regions has led to soaring Bitcoin demand, as investors look to hedge against the system. And once again, Bitcoin has shown itself to be the default option when times get…
The United Kingdom’s Financial Conduct Authority (FCA) has warned the public that is should beware of investing in crypto assets. The regulator states that digital currencies like Bitcoin and Ethereum have no intrinsic value and therefore offer a high level of risk. The comments come as part of the FCA’s newly-published guidelines for companies operating…
The government of Australia wants to ban cash payments for goods and services exceeding 10,000 AUD ($6,900). Interestingly, it excludes digital currency, such as Bitcoin, from the restrictions, arguing that if the regulations cover crypto assets, they would also limit innovation. Although Bitcoin is excluded from the proposed ban, such restrictions make the case for…
The fallout from last week’s US senate hearings on Facebook’s Libra project is still being felt across the crypto ecosystem. Many are blaming the social media giant for Bitcoin’s recent correction but in reality it is just part of the natural rhythm of the market. Bitcoin Back at Four Figures Following a week of consolidation…
Bitcoin has been called many things over its 10-year lifespan. A tool for tax evaders and drug dealers, check. The world’s next safe haven, sure. But most notably, the cryptocurrency has been labeled a “Ponzi scheme” by its thousands, maybe millions of skeptics. Related Reading: Investor: Bitcoin is the Best Performing Asset, Path to $100,000…