Tag Archives: AA News

Bitcoin has proved itself to be a supreme store-of-value in this pandemic-ridden world. But can the world’s first cryptocurrency flip the US Dollar to become the ‘global reserve currency’?The US Dollar Has Been The Global Reserve Currency For 100 Years NowRuchir Sharma, Morgan Stanley Investment Management’s chief global strategist, went candid in his latest opinion piece on Financial Times. He talked about the ‘reserve currency’ history starting right from the 1400s.And delineated how in the...

Bitcoin has taken a major portion of gold’s market share and will continue to do so in the near future, argued JPMorgan Chase & Co analysts. They highlighted the declining difference in funds allocated in the precious metal and the primary cryptocurrency, saying that the move will “represent the transfer of billions in cash.”Bitcoin Inflows, Gold OutflowsThe cryptocurrency community has debated for years on the narrative that bitcoin is the digital representation of gold. After all, both...

Hedge fund manager and founder of Bridgewater Associates, Ray Dalio, seems to have softened his position on bitcoin. He went from dismissing BTC as a currency and store of value through a “what am I missing stage,” and most recently admitted that the cryptocurrency could be an alternative to gold.Ray Dalio’s Bitcoin TransformationThe prominent investor and philanthropist has never displayed favoritism regarding bitcoin. Just the opposite, he has questioned BTC’s role as a store of value or as...

The company’s Bitcoin and Ethereum stock traded products have seen $429 million invested last week. It added that this has been the second-highest crypto investment product inflow on record.The latest report from CoinShares stated that total assets under management now total a record $15 billion. It highlighted Ethereum, which stood out over the past week, with inflows of $87 million representing 20% of its total inflows.More notably, the report compared the investment flows from gold to...

Japanese financial giant SBI Group and Switzerland’s principal stock exchange, SIX Swiss Exchange, will team up for a new cryptocurrency-related platform to establish institutional connections between Europe and Asia.The New Platform Will Launch In SingaporeAs per an official announcement, the digital asset-related arms of both companies – SIX Digital Exchange (SDX) and SBI Digital Asset Holdings – will cooperate to establish the new project. It will target regulated institutional clients...

One of the world’s largest electronics manufacturers, Foxconn Technology Group (better known as Foxconn), has become the latest ransomware attack victim. A hacker’s group had reportedly compromised data from the company’s North American facility during the Thanksgiving weekend and has requested over 1,800 bitcoins as demand.DopplePaymer Ransomware Attack On FoxconnEstablished in 1974, Foxconn has become one of the largest electronics manufacturers in the world, whose subsidiaries include...

The giant social media continues to stir controversy even when it’s trying desperately to avoid it. Just a week after Facebook renamed Libra to Diem (meaning “day” in Latin), the company could be facing a lawsuit from a London-based fintech app with the same name.CryptoPotato reported last week that Facebook changed the name of its future cryptocurrency in another attempt to escape from all the regulatory hurdles in its way. However, it seems that the Association behind the project has chosen...

MicroStrategy is hodling A LOT of Bitcoin, and it’s coming for more. The corporation just revealed that it’s looking for financing to acquire an additional stash of Bitcoin.The company shared the information in an official announcement on its website on December 7, 2020. According to the Press Release, MicroStrategy would be contemplating a $400 million private offering in convertible senior notes, with the idea of increasing its Bitcoin reserves:MicroStrategy intends to invest the net...

This summer’s decentralized finance boom is far from over. Granted, a large number of the newly minted DeFi tokens have pumped and dumped, but November has seen a major resurgence for many of them as they outperform Bitcoin itself.During the month of November, Bitcoin made just under 40% in a climb from $13,800 to top $19,000 by month-end. It’s long-awaited surge towards its previous high of $20K three years ago has renewed the market momentum and general ‘hopium’ that has been missing for...

Visa, a global financial services company and credit card giant, has partnered with Circle Internet Financial, a leading crypto fintech startup, to integrate the latter’s stablecoin.Visa Taps USDC for Digital PaymentsAccording to Forbes, on Dec. 2, Visa will be adopting Circle’s USD Coin (USDC) into its credit card platforms. The collaboration between both companies would see the use of the stablecoin to send and receive payments.Although Visa will not be a custodian to the USDC, Circle will...