The chair of the United States Federal Reserve Jerome Powell stated cryptocurrencies are: "more a speculative asset," and called them a "substitute for gold rather than the dollar."
Jim Cramer, host of CNBC, expressed he has made "a ton of money" on Bitcoin. He also revealed that Bitcoin's return was faster and higher compared to buying gold and stocks.
The Week on Chain Glassnode report noticed whales are selling their Bitcoin holdings to retail investors, slowing down the latest bull run.
In a new job posting, Time magazine expressed it's looking for a CFO who has "comfort with Bitcoin and cryptocurrencies." Other companies are also starting to seek candidates who have a level of comfort with cryptocurrencies.
Fidelity Investments filed the paperwork to list a Bitcoin ETF, which will track the performance of the asset using the Fidelity Bitcoin Index PR.
The government of India is now requiring both public and private firms to disclose any crypto-related trades or investments. Despite the blurry legal status of cryptocurrencies, this new rule follows the introduction of a new amendment created by India's Ministry of Corporate Affairs.
A Bank of America report highlighted the virtues of hodling, saying that long-term investment will almost always end up recovering most of bear-market losses.
Robert Gutmann, the CEO of the New York Digital Investment Group, confirmed they have been speaking to governments about investing in Bitcoin.
Dawn Fitzpatrick, Chief Information Officer of Soros Fund Management, stated: “I think when it comes to crypto generally, we’re at a really important moment in time, in that, something like Bitcoin might have stayed a fringe asset, but for the fact that, over the last 12 months, we’ve increased money supply in the U.S. by 25%,” in an interview in which she revealed why Soros started taking an interest in Bitcoin.
For more information on these stories, visit: Nigeria: https://www.today.ng/business/finance/cbn-nigerians-free-bitcoin-353492 Powell: https://www.youtube.com/watch?v=G5bVtzQt4Uc Time Magazine: https://www.linkedin.com/jobs/view/2459287290/ Jim Cramer: https://www.youtube.com/watch?v=oqfAtMKu1wo Fidelity: https://www.sec.gov/Archives/edgar/data/1852317/000119312521092598/d133565ds1.htm India: http://www.mca.gov.in/Ministry/pdf/ScheduleIIIAmendmentRules_24032021.pdf Glassnode: https://insights.glassnode.com/the-week-on-chain-week-12-2021/ Bank of America: https://www.cnbc.com/2021/03/24/this-chart-shows-why-investors-should-never-try-to-time-the-stock-market.html Gutmann: https://cointelegraph.com/news/governments-are-looking-to-buy-bitcoin-nydig-ceo-confirms Soros: https://twitter.com/crypto/status/1375288902026547210?s=20
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.