Volatility makes Bitcoin a poor payment instrument
The crypto community is quite tired of hearing the argument related to the volatility of Bitcoin. However, we have to continue listening to him.
This time it was the vice president of Mastercard who assured that “Bitcoin does not behave as a payment instrument.” He also assured that the company is working hand in hand with various central banks to add stable currencies to its network.
In addition to volatility, Cairns cited long wait times as a weakness for Bitcoin for payment instrument. Therefore, the Vice President of Mastercard considers it more appropriate to view Bitcoin as a store of value similar to gold.
Bitcoin ETF already has $ 624 million under management
However, the data also reveal that the buying activity has been declining with the passing of the days.
Grayscale analyzes new cryptos for new investment products
Grayscale Investments issued a press release where it revealed a short list of possible cryptos to create new investment products.
Grayscale CEO Michael Sonnenshein said the cryptos in question represent “bold, exciting and innovative opportunities that meet our investors’ demand for differentiated exposure to this expanding asset class.”
However, you do not plan to integrate all cryptos on the list although you do want to diversify your products.
Crypto exchange Kraken targets $ 10 billion valuation
According to Bloomberg, Kraken is seeking a round of financing to expand its business and is aiming for a valuation of more than $ 10 billion.
Bloomberg cited anonymous sources, which, in fact, claim that the crypto exchange is already in talks with major investors.
Consider that this valuation is more than five times higher than the crypto exchange’s previous fundraising round in 2019.
In a few lines …
The FCA has published a detailed plan of how the UK will manage to maintain its status as one of the global hubs for financial technology innovation and business. JPMorgan advised investors not to allocate more than 1% of their investment portfolio to crypto. Crypto exchange 1inch announced that it will start operating on Binance Smart Chain as well.
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