According to Sonnenshein, the SEC would be making a mistake if it approves Bitcoin-based ETF in the US before granting approval for one tied to the crypto itself.
Bitcoin (BTC) faced its strongest drop after a 70% bounce back since the mid-July levels. El Salavador buys the Bitcoin dip adding 150 additional Bitcoins.
Standard Chartered also said that Ether has more functionality and may potentially replace Bitcoin as the world’s most prominent crypto.
The bill will allow Panama to become the choice jurisdiction for companies seeking to issue any type of asset.
As Bitcoin is strengthening its positions, many top crypto assets are following the trend.
The wallet is fully compatible with HitBTC exchange. Traders with active HitBTC account can easily link it to their wallet app and use both of them simultaneously.
El Salvador passed the law to adopt Bitcoin as legal tender alongside the United States dollar back in June.
A Reddit user calculated that if only all 3.3 million members of the BTC community on Reddit support the initiative, they will be able to inject $99.5 million into Bitcoin.
There are a few key things to also watch out for in Bitcoin this week. The asset passed the $51,000 barrier after multiple attempts to break through $50,000.
Analyst Willy Woo explains the supply-demand valuation model that predicts that Bitcoin can easily gain more than 5% from the current levels.
Oil and gas companies have always struggled when colliding with a natural gas buildup while drilling for oil. But it seems that Bitcoin mining can be particularly impressive here.
Earlier in May, Bloomberg Senior Commodity Strategist Mike McGlone said that the price dip suggested that Bitcoin and altcoins had “entered the mainstream”. These sentiments are reiterated in the latest Crypto Outlook report.
The researchers also went on to reveal that 35 percent of the responses they gathered showed that the respondents believed that BTC would eventually surpass that of traditional fiat currencies.
The revealed interface showed two possible options: users would be able to send and receive tips via the Tip Jar feature on a Bitcoin or an Ethereum address attached to their profile.
The fund will allow the residents of Japan to get their first legitimized exposure to cryptocurrency enabling them to invest in major cryptos.