One of the reasons the bank gave for the rise of BTC is tied to the assurance the SEC gave to investors that they would not be banning crypto in the US.
Besides its own primary operational activities, Riot Blockchain hosts a number of Bitcoin mining clients who use its facilities and also serves as an additional revenue source.
Bitcoin recorded a nearly five-month high above $55,000 on the 6th of October as it is continuing to gather gains from the previous day.
With Bitcoin holding up despite the turmoil, many began to see it as a haven for their resources for the time being.
The Soros Fund Management has sought exposure to digital assets as per the recent admission of the CIO. The fund has started cashing out of stocks and said it will not be investing in China for now.
The world’s largest cryptocurrency Bitcoin (BTC) has moved past its crucial resistance of $50,000 thereby overtaking Facebook (FB) in valuations. As Q4 2021 begins, analysts are eyeing a major bull run ahead.
When asked about guidance on crypto regulation, Gensler reminded that crypto exchanges need to register with the SEC. But decentralized exchanges (DEXs) are also subject to regulations.
The US Bank Bitcoin custody service is going to be available to investment asset managers operating from either the United States or the Cayman Islands.
Bitcoin is now the best-performing asset this year as the asset’s price breaks the $50,000 psychological resistance point.
While some locals have praised President Bukele’s new crypto adoption drive, others have raised questions on why the discount is just coming and why it is only through the “Chivo wallet.”
Bloomberg’s senior ETF strategist notes that there are high chances of Bitcoin ETF approval in the US this month. It looks like this could be a major trigger to the next bull run.
On October 1, the flagship crypto-asset staged another significant move to reclaim the $45k level.
While the renewable energy option of mining Bitcoin by El Salvador has been largely commended across the board, the overall approach of the country’s BTC adoption has continuously been faulted.
Powell said that he is not considering imposing an outright ban on Bitcoin, like China.
It is estimated that around four to seven percent of the world’s global crypto mining is carried out in Iran.