MicroStrategy's Bitcoin investment strategy has made the company the largest institutional investor in the cryptocurrency in the entire industry. This and more news is in this handy daily roundup so you're always up to date with the latest events happening within the crypto world.
MicroStrategy reaffirms its commitment to Bitcoin
📍American company MicroStrategy has published its results for the third quarter of this year. MicroStrategy currently owns 130.000 bitcoins, which it has purchased over two years, for a total investment of $4.000 billion.
Although at Bitcoin’s current price of $20.315 per BTC, the cryptocurrencies held by MicroStrategy are valued at just $2.641 billion, the company has reaffirmed its initial commitment, indicating that it maintains a “long-term horizon” regarding its investment.
MicroStrategy also noted that its Bitcoin investment strategy and the cryptocurrency's volatility in the market remain separate from its core business.
Source: microstrategy
Dubai implements new regulatory regime for cryptocurrencies
📍The Dubai International Financial Centre, known as DIFC, has published a new regulatory regime applicable to digital assets. Via Twitter, the DIFC announced the launch of new regulations that tokens and the people who use them must comply with. According to the publication, the Dubai International Financial Centre is expanding its regulatory regime for virtual assets, to strengthen compliance with anti-money laundering and money laundering regulations, as well as to strengthen its fight against the financing of terrorism.
In late December, the city of Dubai announced it would turn its financial center into a one-stop zone for cryptocurrencies, in order to boost their adoption and responsible regulation.
Gensler sends a message to the crypto community on Bitcoin's anniversary
📍SEC Chairman Gary Gensler congratulates Bitcoin on its 14th anniversary. On October 31, Gensler sent a message to the Bitcoin crypto community, during the celebration of the 14th anniversary since the publication of the whitepaper of cryptocurrency, by Satoshi NakamotoIn 2008.
On his Twitter account, Gensler wrote that the publication of the white paper of the world's largest cryptocurrency "has led to innovation and investment in crypto assets." However, he took the opportunity to reiterate the need to regulate the industry, in order to ensure the security and stability of investors. "Let's ensure that as cryptocurrencies enter their 15th year, investors get adequate protection," the financial regulator said.
Banks will be key to institutional investment in crypto
📍According to a survey conducted by BNY Mellon, more than 100 companies want to invest in cryptocurrencies through their trusted financial institutions. the american bank BNY Mellon, which is offering cryptocurrency services to its clients, published the results of a survey applied to 271 companies to find out their perspectives on investing in Bitcoin and other cryptocurrencies.
On results reportThe US bank highlighted that traditional financial institutions have a great opportunity as custodians of cryptocurrencies, as investors are looking for stability to enter the digital world.
72% of companies that participated in the survey said they would like to have a trusted financial services provider to enter or increase their exposure to cryptocurrencies and digital assets, the bank said.
In previous studies, BNY Mellon had reported that cryptocurrencies have become a fairly popular investment asset among Family Offices, with at least the 75% of these offices investing in this type of assets by February of this year.
UnionBank joins cryptocurrency custodians
📍Philippine bank UnionBank is offering cryptocurrency trading services. Through a pilot program, UnionBank of the Philippines has begun offering trading services for the two largest cryptocurrencies on the market, Bitcoin and Ethereum.
UnionBank has partnered with institutional digital asset management technology provider Metaco to launch a crypto trading platform, from which its clients can access BTC and ETH custody and trading services. At the moment, according to the Press release, UnionBank's crypto trading services are limited to selected retail clients.
Metaco highlighted that the launch of this new trading platform represents a big step for the bank in exploring blockchain technology. UnionBank has been participating in the crypto world through other digital asset initiatives, such as the launch of its own stablecoin for remittance payments and its entry into the metaverse in collaboration with the company Ark of Dreams.
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IMPORTANT: The content of this article is for informational purposes only and, in no case, what is written here should be taken as investment advice or recommendations. Bit2Me News reminds you that before making any investment you should educate yourself and know where you invest your money, as well as the pros and cons of the system. 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.
