Digital Assets: Bitcoin Scales New High Amidst Confluence Of Positive News

February 11, 2021 | Digital Assets, News
https://dailyalts.com/wp-content/uploads/2021/02/bitcoin-3006247_640.jpg

Mastercard. BNY Mellon. Crypto Mom.

Bitcoin is currently trading at $48,024.32, up over 8% but marginally off the fresh all-time high of $48, 297.35 it hit earlier today. Likely triggers were crypto-positive announcements by Mastercard (NYSE: MA) and BNY Mellon (NYSE: BK), and a hint by U.S. Securities and Exchange Commissioner Hester Peirce (a.k.a. “Crypto Mom”) that the U.S. capital markets are ready for a bitcoin exchange-traded product (ETP).

Mastercard to support cryptos on its network

Mastercard announced that it would soon allow its users, which number over a billion, to use cryptocurrencies at its network of 30 million merchants. (Coin Telegraph)

Merchants would thus get access to a new set of crypto wielding customers. Mastercard also observed that more and more of its customers were using their Mastercards to purchase cryptocurrencies.

“Digital assets are becoming a more important part of the payments world,” MasterCard said.

BNY Mellon offers custody of crypto assets

Crypto News quoted a WSJ report that said BNY Mellon, the oldest bank in America, will hold, transfer and issue bitcoin and other unspecified crypto assets on behalf of its asset-management clients later this year.

BNY Mellon has reportedly assembled a team to evaluate the procedure for the incorporation of digital assets into various businesses.

Roman Regelman, chief executive of BNY Mellon’s asset-servicing and digital businesses, told the Journal that institutional players want the bank to treat digital assets on par with other holdings.

U.S. Securities and Exchange Commissioner Hester Peirce

Speaking to CoinDesk TV on Thursday, Comm. Peirce said that U.S. capital markets are ready for a bitcoin ETP.

Referring to investors already eager to trade bitcoin, Peirce said “if we don’t give them the natural way, which I think would be an ETP, they are going to look for other (less optimal) ways to do it.”

P.S. – Is crypto adoption breaking out? Following Mastercard and BNY Mellon, came the news that Uber (NYSE: UBER) will consider accepting cryptocurrencies, including bitcoin, as a form of payment.

Related Story:  Tesla Converts $1.5B Of Surplus Cash To Bitcoin

Free Industry News

Subscribe to our free newsletter for updates and news about alternatives investments.

  • This field is for validation purposes and should be left unchanged.


Shape

Latest Alternative Investment News

https://dailyalts.com/wp-content/uploads/2021/02/bitcoin-4034393_640.jpg
Digital Assets: South Korean Central Banker Engages In Bitcoin Bashing
February 25, 2021     Digital Assets, News, Regulations

Bank of Korea Governor Lee Ju-yeol, when speaking at a parliamentary session on Wednesday, said crypto-assets such as bitcoin had no intrinsic value and were victim to highly volatile price…

https://dailyalts.com/wp-content/uploads/2021/02/bitcoin-5927460_640.jpg
Digital Assets: Corporates Buy More Bitcoin – MicroStrategy $1B; Square $170M
February 24, 2021     Digital Assets, News

MicroStrategy describes bitcoin as “a dependable store of value.” In an announcement today, MicroStrategy (NASDAQ: MSTR) said it had invested an additional $1.026 billion in the purchase of 19,452 bitcoins…

https://dailyalts.com/wp-content/uploads/2021/02/download_url-0617_klarna_highres-25-1.jpg
Venture Capital: Klarna’s Funding Binge On Course For A $1B Raise
February 24, 2021     FinTech, Latest News, News

Bloomberg reports that Klarna Bank AB, the Swedish fintech startup that was valued at $10.65 billion in September, may raise another $1 billion. But this time its valuation could be…

https://dailyalts.com/wp-content/uploads/2021/02/screenshot-www.tyme_.com-2021.02.24-20_04_34.png
FinTech: Tyme Raises $110M For Its Bank In South Africa, ASEAN Expansion
February 24, 2021     FinTech, News

Tyme has partnered with JG Summit to Launch Digital Bank for the Philippines. Digital banking network Tyme announced Tuesday its raise of $110 million from new investors Apis Growth Fund…