Monthly Archives: Januar 2021

This wolf of Wall Street buys 16,244 bitcoins in one day… it will do less for you!

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Grayscale is going all out – While Bitcoin seems to consolidate, nothing seems to be able to stop Grayscale, this investment fund which, for several months, has been betting big on it. Also in this context, the company bought 16,244 bitcoins on January 19 for a total of around $ 560 million. We hit records… again!

Grayscale and its Bitcoin-focused strategy

Grayscale is the largest institutional player in the Crypto Bank review scene, with its $ 17.475 billion in BTC, far surpassing any other figure in the market. We can of course cite MicroStrategy : the software giant controls, for its part, 70,470 BTC ($ 2.06 billion) … but keeps them to himself!

Analysts predict that the increased demand for “new” bitcoin from miners will only serve to create a bidding war and push prices up. Under these conditions, institutions could have every interest in storing as much bitcoins as possible : a thorny question, on which more and more historical investors are taking a position . Grayscale , for its part, is no longer embarrassed: it is therefore the trifle of 16,244 bitcoins that were acquired on the single day of January 19 to cover the needs of its customers.

The arrival of new investors

Today, it’s not just venture capitalists looking to gain exposure to cryptocurrencies. The family offices and hedge funds are also interested in this new market, because of the many opportunities.

Bitcoin is much more mature today compared to 2017, when it set its old record around $ 20,000 before plunging again. Today, the sector tends to develop in a healthy way , while new holding and lending services are gradually emerging , which has the gift of attracting institutional investors.

According to several analysts, purchase flows from Grayscale would have strongly supported the meteoric rise of bitcoin in 2020. The number one crypto has reached a record high of $ 42,000, before undergoing a slight correction.

CBDCs could make stablecoins obsolete

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CBDCs could make stablecoins obsolete, predicts Jake Yocom-Piatt

What impact will the introduction of CBDCs have on the crypto world? We talked about it with the co-founder of Decred During the 2020s, many countries around the world have been hard at Bitcoin Pro platform work developing digital versions of their currencies, known as Central Bank Digital Currencies (CBDCs). According to Jake Yocom-Piatt, co-founder of crypto project Decred, even if most countries around the world launched a CBDC, the crypto industry would still remain ahead in many ways.

Yocom-Piatt told:

„I expect that many states will create their own CBDCs in the not-too-distant future, but there is one key element that differentiates CBDCs and cryptocurrencies. Cryptocurrencies, for example Bitcoin and Decred, are fundamentally fairer systems than fiat currencies. So even if CBDCs adopted many features of cryptos, they would still be inferior in fairness.“

CBDCs are likely to be digital versions of individual countries

In the 2020s, China was one of the most progressive countries in terms of developing its own CBDC, while the US took a more wait-and-see approach. Recent events, however, highlight that there is a growing perception of the importance of developing a digital dollar in the US. CBDCs are likely to be digital versions of individual countries‘ currencies, although many details remain to be clarified.

As mentioned by Yocom-Piatt, crypto assets refer to completely different ecosystems, depending on the asset and its composition. Bitcoin (BTC), for example, is untethered from currencies and national borders, being managed by computer codes and miners:

„Considering that cryptocurrencies are evidently more equitable, with deterministic issuance schedules and self-custodial assets, I would expect that they would not be affected as much by CBDCs, which are just digital fiat.“

On the other hand, according to this logic stablecoins might be more affected by a global spread of CBDCs, as their main purpose is to represent fiat money in digital form, on the blockchain, anchored to a specific value. The future of crypto stablecoins could however depend on the technical characteristics of CBDCs:

„Depending on what actions you will be able to perform with your CBDCs, they could make stablecoins mostly obsolete. If there were too many restrictions on CBDCs, then stablecoins could compete from a flexibility point of view.“

Goldman Sachs Exec dice che più investimenti istituzionali calmerebbero la volatilità della Bitcoin

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Il responsabile globale della ricerca sulle materie prime Jeff Currie ritiene che la quantità di denaro istituzionale in bitcoin debba crescere per far maturare il bene.

Ricerca sulle materie prime di Goldman Sachs

Un dirigente della banca d’investimento multinazionale Goldman Sachs ritiene che l’aumento della partecipazione degli investitori istituzionali sia la „chiave“ per stabilizzare i mercati nascenti, come le valute criptate.

Parlando martedì su The Coin Rush della CNBC, il responsabile globale della ricerca sulle materie prime di Goldman Sachs, Jeff Currie, ha detto che il mercato delle crittovalute „sta diventando più maturo“, ma ha ancora molta strada da fare.

„Al momento sono [investitori istituzionali] piccoli … circa 700 miliardi di dollari di denaro in bitcoin (BTC, +3,21%), di cui circa l’1% è denaro istituzionale“, ha detto Currie.

Ha anche detto che il bitcoin è un asset difensivo simile all’oro

Currie, che è il responsabile globale delle materie prime e della ricerca, ha anche detto che il bitcoin è un asset difensivo simile all’oro. Ha raccolto i 3.000 miliardi di dollari del mercato dell’oro, dicendo che una parte di quel denaro potrebbe essere destinata alla crittovaluta.

„In questo momento tutte le crittovalute hanno circa un trilione [di dollari], diciamo che cresce fino a 2 trilioni di dollari, poi basta fare un semplice calcolo – quante monete ci sono là fuori divise per questo, e si può finire con un valore equo“.

Questa valutazione potrebbe aiutare a fornire un equilibrio a lungo termine, ma i flussi in entrata e in uscita di denaro in bitcoin creano molta volatilità e molta incertezza che rendono difficile fare previsioni, ha detto Currie.