5 “low” signals on crypto planet N° 2
- Bitcoin reaches a symbolic weight in volume. The value of all Bitcoin in circulation has crossed the $1 trillion mark for the first time. This is a new record for the most popular crypto-currency at the moment. This event will undoubtedly increase public interest in Bitcoin tenfold. Speculation is running high and this is fuelling the debate. All you have to do is turn on the radio or TV to hear everything and its opposite, but still, this symbolic level will resonate with precious metal aficionados.
- The Binance Coin (BNB) has been noticed by a tremendous growth of its price, even allowing it to become the 3rd cryptomoney in terms of capitalization behind Ether and Bitcoin. It thus dethroned the stable Tether Corner, indexed on the US Dollar. Nevertheless, it continues to defend itself in this Bullrun period during which investors often withdraw their profits made in Bitcoin, for example by converting them into USDT, thus inflating the volume of the latter.
- The Swiss can pay their taxes in cryptos. The city of Zug is known for its trust in virtual currencies. Residents of the canton of Zug, also known as Crypto Valley, have been able to pay their taxes in Bitcoin since 2016, but now the administration also accepts ETH. Although this is a micro-phenomenon in the economic world, it is still a “weak” signal of adoption. The acceptance by institutions of cryptos other than Bitcoin allows public opinion to raise its nose to this unique asset that is now hogging all the media spotlight.
- Up to 5% of public companies will follow Tesla’s purchase of Bitcoin, according to Dan Ives, managing director of Wedbush Securities, an American financial research institute. In an interview with CNBC on Monday, Ives said Tesla’s exposure to Bitcoin was “not just a fad” but part of a long-term strategy driven by an investment strategy and a business deal. Blockchain investment professionals such as Just Minning said that even small and medium sized companies had not been waiting for this signal to start investing their cash in Bitcoin for personal financial reasons.
- BFM TV throws itself into the theme of active crypto, with Bitcoin in the spotlight, of course. The most followed frequency for economic/finance/investment issues has just announced it: the programme BFM PATRIMOINE adds the “crypto” section to its contents. Usually dedicated to various savings investments such as rental real estate, it now wants to address the question of investment in the BlockChain field. This is in addition to the invitation from Owen Simonin (whom we received at Le Meridional as part of an exclusive interview) now every Friday on the set to address the major facts of this ecosystem. What we can notice is the rapprochement of the term “Heritage” and crypto. This is unprecedented in France, where immense importance is given to savings and the transmission of family capital. This would represent a favourable message for the long-term holding of active crypto assets that could initiate a de-escalation of the speculative euphoria of the Bull Run period. To be continued!