Nigerians Turn to Stablecoins for Protection Against Inflation
Traditional savings groups in Nigeria are looking at dollar-pegged stablecoins as a tool to protect their savings from local inflation. Okeke Leticia Chigozie, a 28-year-old Nigerian logistics worker, dreams of opening her own shoe store in Nigeria. Having no credit history, she does not qualify for a bank loan to fund her enterprise. Instead, she […]
Bitcoin Plunges Below $55K Amid Weak Institutional Inflows, Profit Taking
“This does not mean the bull run is over, it just means that profit taking is happening,” according to market analyst Lark Davis. Bitcoin is losing altitude on Monday amid weak buying pressure from institutional investors. The crypto market leader fell as low as $54,790.33 Monday morning, having reached a record high of $61,556.59 on […]
Watch Out for These Risks Before Investing in Bitcoin or Ether
Twelve years after its creation, regulating bitcoin is still complicated in most countries. That’s just one of the investment risks. There are a number of risks associated with holding and investing in cryptocurrencies. In the latest CoinDesk Research report, we look at seven different risks, from the regulatory to the technological, that affect bitcoin (BTC, +0.59%) and ether (ETH, -1.43%), and […]
Digital Currency Group to Put up to $250M Into Grayscale’s Bitcoin Trust
The blockchain investment firm said it will buy the GBTC shares on the open market. Cryptocurrency and blockchain-focused investment firm Digital Currency Group (DCG) is to put as much as $250 million into shares of the Grayscale Bitcoin Trust (OTCQX: GBTC), its subsidiary’s flagship product. In an announcement Wednesday, DCG – which is also the parent company […]
Goldman Crypto Chief Flags Institutional Demand Driving Boom
Goldman Sachs Group Inc. is seeing substantial demand for digital assets from institutions as it works to restart its cryptocurrency trading desk. In a survey of nearly 300 clients by the firm, 40% currently have exposure to crypto, according to Matt McDermott, global head of digital assets for Goldman Sachs Global Markets Division, speaking on […]
JPMorgan tells private wealth clients that bitcoin can be a portfolio diversifier ‘if sized correctly’
Quick Take “If sized correctly,” bitcoin can be a portfolio diversifier, the bank told its private wealth clients in a new educational deck While the deck is for informational purpose only, it nonetheless reveals the growing interest from JPMorgan’s private clients in the asset class JPMorgan Private Bank has distributed an educational deck to clients […]
Grayscale Discount Might Signal Start of Fresh Bitcoin Rally, Bloomberg’s McGlone Says
Bloomberg Intelligence analyst Mike McGlone, who correctly predicted bitcoin (BTC, -2.65%)‘s ascent this year to a price above $50,000, says recent market indicators suggest $100,000 could be the next threshold. McGlone wrote in a March outlook report that a recent drop below zero in the so-called Grayscale premium – a closely watched metric in cryptocurrency markets – could signal […]
Cathie Wood Says Bitcoin Has Trillions in Market Cap Potential
Cathie Wood says Bitcoin is in “early days” given its new interest from institutions and its diverse use cases. Speaking as part of a panel for the Bloomberg Crypto Summit, the founder of Ark Investment Management said the largest digital currency has trillions in market capitalization potential. “When you think the market cap of Bitcoin […]
JPMorgan Says Investors Could Make Bitcoin 1% of Portfolios
JPMorgan Chase & Co. is the latest Wall Street firm floating the idea of investors using Bitcoin as a way to diversify their portfolios. Strategists have recently touted cryptocurrency as a way to hedge against significant fluctuations in traditional asset classes such as stocks, bonds and commodities. Rather than making any big bets on Bitcoin, they’ve […]
Dogecoin Bounds Onto 1,800 ATMs in the US
CoinFlip told CoinDesk DOGE has become a symbol of the small retail investor. Fans of the popular canine-themed cryptocurrency dogecoin (DOGE, +3.12%) can now make purchases at 1,800 ATM locations in the U.S. According to a Tuesday tweet by ATM provider CoinFlip, DOGE can now be purchased with cash across its network, as the company makes the most of […]