Bloomberg's Mike McGlone and Ark Investment's Cathie Wood say investors have an opportunity to pick up bitcoin at a discount while the cryptocurrency is in a recovery phase. These and more news in this practical daily summary so that you are always informed with the most recent events that occur within the crypto world.
Cryptocurrencies and altcoins
📍For many experts, The recent drop in cryptocurrency markets is an opportunity to buy bitcoins or other crypto assets at a “discount.” Bloomberg strategist and analyst Mike McGlone, stated on his Twitter account that many investors are having a unique opportunity to acquire cryptocurrencies, with a very favorable price for the medium and long term.
Cathi Wood, director of Ark Investment Management, believes that the price of Bitcoin (BTC) It may still reach $500.000 per unit, based on the analysis of its experts, who indicate that the bitcoin market is in a recapitulation phase.
📍For his part, Ethereum co-founder, Vitalik Buterin, noted that the cryptocurrency market is currently in a bubble. Buterin also believes that the energy and environmental debate surrounding Bitcoin could leave the cryptocurrency behind if technological change does not occur soon.
Buterin also claimed not to be shocked by the current drop in value of crypto markets, stressing that the bubble may have already ended or “could end within a few months.” The co-founder of Ethereum He made these statements during a interview conducted by CNN virtually.
Bitcoin and Blockchain Adoption
📍Email and VPN provider ProtonMail has revealed that it holds Bitcoin reserves. In a post on Twitter, ProtonMail stated that it has been HODLing bitcoins for some time and will continue to do so as part of its long-term store of value strategy. The company has been accepting payments in Bitcoin since 2017.
📍Blockchain Research Institute (BRI) announced the opening of 3 new facilities to expand its operations in Africa, the Middle East and South Korea. According to reported, the BRI will consolidate its growth and expansion plans to promote education, innovation and adoption in its regions of specialization, and continue to prepare the world “for post-pandemic economic expansion, technological renaissance and industrial disruption”.
📍The German bank Commerzbank is implementing technology blockchain for corporate supply chain management. The bank is working in collaboration with chemical companies Evonik and BASF to manage ordering and payment processes in the supply chain between the two companies via blockchain. Commerzbank is also testing payments with digital euros, as programmable money.
📍The NGO Bitcoin Argentina encourages the crypto community not to be intimidated by the actions and statements that certain organizations are taking about Bitcoin. The organization reminds that Bitcoin is an unstoppable revolution, which is building a new alternative financial system, where efficiency and financial innovation are promoted. This is in response to the recent statements published by the Central Bank (BCRA) and the National Securities Commission (CNV), which warn citizens about the risks of operating in the crypto market, highlighting that cryptocurrencies are not real money and instilling fear in society.
Development and Technology
📍Cardano is about to activate its Ethereum ERC-20 token conversion tool to begin migration to its blockchain. Francisco Landino, project manager at IOHK, the network's research and development arm Cardano (ADA), announced that it will soon be possible to connect Ethereum tokens with Cardano to experience the full potential of decentralized finance (DeFi), considering that much of the liquidity available in these ecosystems is locked in ERC-20 standard tokens.
Likewise, Cardano seeks to offer a value proposition that takes advantage of Cardano's advantages over Ethereum, considering that Cardano is much more efficient, faster and accessible than Ethereum.
📍The world's DeFi and CeFi aggregation protocol, OpenOcean is expanding its capabilities by offering support for some of the world's largest and most important languages: Chinese, Japanese, Spanish and Russian.. Now the millions of citizens of the world who speak and know any of these 4 languages can enjoy the potential that OpenOcean offers, such as simplified crypto exchanges, derivatives, performance, lending, insurance products, and much more.
One of the goals of the aggregation protocol is to serve a wide range of cryptocurrency users globally.
Rules and Regulations
📍The Hong Kong government is proposing the creation of licenses to authorize the operations of virtual asset service providers (VASPs). China is promoting a series of new regulations that tighten controls and supervisions in the world of cryptocurrencies, in order to prevent illicit activities. Thus, the government of Hong Kong, the special administrative region of China, considers it necessary to issue licenses to digital asset companies.
Esta proposal, which has already passed its consultation period, will give the Securities and Futures Commission (SFC) greater power to accept or prohibit VASPs in the region.
IMPORTANT: Bit2Me News reminds you that before making an investment you must educate yourself and know where you invest your money, as well as the pros and cons of the system. Everything written here is for informational and educational purposes and should not, under any circumstances, be taken as investment advice or recommendations. We separate ourselves from the actions and consequences that ignorance may entail. If you decide to invest in this or another asset class, you are solely responsible for the consequences that your decisions and actions may have.
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