According to a Mizuho Securities survey, 40% of people plan on investing their stimulus checks into Bitcoin and stocks. If this does happen, that would mean around 10% of the $380 billion stimulus bill would be going into BTC and stocks.
South Korea will be more actively fighting tax evasion via cryptocurrency investments. According to South Korea’s tax agency, tax evaders have managed to hide over 36.6 billion Won in crypto.
US District Judge Analisa Torres denied a motion to intervene filed by XRP holders requesting adequate representation in the SEC’s case against Ripple. They are claiming losses due to XRP’s price drop following the lawsuit.
The Brazilian SEC approved the first cryptocurrency ETFs in Latin America. These will be listed on B3, Brazil’s Stock Exchange.
Chinese tech company Meitu invested $50 million Ether and Bitcoin. This follows another $40 million ETH and BTC investment made by the company on March 5.
Morgan Stanley announced internally that it will give clients access and exposure to Bitcoin via three funds, according to a CNBC report.
Payments app Bottlepay launched a social media feature that allows users to send and receive Bitcoin via tweets, straight from the Twitter platform.
SkyBridge Capital’s Anthony Scaramucci called Bitcoin, “better than gold,” in a CNBC interview. He stated, "In a lot of ways, if you study it, it's better than gold. It's easier to store, you can move it around more quickly, and that value — that trusted network — is growing."
Deutsche Bank Research released a report on Bitcoin titled The Future of Payments: Series 2 Part III. Bitcoins: Can the Tinkerbell Effect Become a Self-Fulfilling Prophecy? in which they referred to Bitcoin as, “too important to ignore.”
BaFin, the German Federal Financial Supervisory Authority, issued an alert warning investors on the risks of cryptocurrency trading.
For more information on these stories, visit: Market Cap: https://cointelegraph.com/news/bitcoin-is-now-worth-more-than-visa-and-mastercard-combined Mizuho: https://money.yahoo.com/nearly-10-of-the-380-billion-in-stimulus-checks-may-be-used-to-buy-bitcoin-and-stocks-survey-131009531.html Korea: http://www.koreaherald.com/view.php?ud=20210315000920 Ripple: https://pacer.login.uscourts.gov/csologin/login.jsf?pscCourtId=NYSDC&appurl=https://ecf.nysd.uscourts.gov/doc1/127128716318 | https://cointelegraph.com/news/judge-denies-xrp-army-a-seat-at-the-table-in-sec-v-ripple-case Meitu: https://corp-static.meitu.com/corp-new/ENG.pdf Brazil ETF: https://braziljournal.com/hashdex-lanca-primeiro-etf-de-criptomoedas-do-brasil | https://www.theblockcrypto.com/linked/98817/brazil-bitcoin-etf-approval Morgan Stanley: https://www.cnbc.com/2021/03/17/bitcoin-morgan-stanley-is-the-first-big-us-bank-to-offer-wealthy-clients-access-to-bitcoin-funds.html Scaramucci: https://twitter.com/SquawkCNBC/status/1372517554674147331 Deutsche Bank: https://www.dbresearch.com/PROD/RPS_EN-PROD/PROD0000000000517378/The_Future_of_Payments:_Series_2_Part_III__Bitcoin.pdf?&realload=yHyVmFFu/1N2drpejtrUbCZOlp2mtlxV4cnzyyVerVyDlJ9xKaNpkg9fLFLNjKD5ZgT9JOP1EdZ9MumHTmwAmA==Axlv+9+FqBealtzrm7nmxBTOHFAAeLTarYSyYUFtB58=& BaFin: https://www.bafin.de/SharedDocs/Veroeffentlichungen/DE/Verbrauchermitteilung/weitere/2021/meldung_210319_Warnung_Kryptowerte.html | https://www.thebharatexpressnews.com/german-financial-regulator-issues-warning-on-retail-crypto-investments/
Yesterday's trading was mixed. Early in the session, even with reports of economic slowdown in the US, traders were still buying, maybe thinking it solidified the accommodative Fed policies.
Yesterday’s narrative was somewhat bittersweet. On the one hand, Fed policies remain hyper accommodating, which is positive. On the other hand, the accommodating stance is based on lingering concerns about the economic recovery in the US (and also globally).
Bitcoin has fallen back below $40,000 today, as the denial from Amazon of the impending acceptance of Bitcoin as a payment method came through. Prices returned to our support level of $36,500 before rallying once more, a sign that this move may be supported by more than just click-bait headlines.