The financial multinational Morgan Stanley has plans to invest in Bitcoin, which according to Michael Novogratz, It could be worth around $100.000 USD by the end of the year.. This and more news in this handy daily summary so you are always informed with those most recent events that happen within the crypto world.
Cryptocurrencies and altcoins
📍 Morgan Stanley's interest in Bitcoin (BTC) raised the price of the cryptocurrency to a new all-time high of $49.531 USD per unit this February 14, getting closer each time to its new goal of 50K. The multinational investment company is considering investing nearly $150 million through its subsidiary Counterpoint Global, awakening a new bullish sentiment in the crypto community.
At the time of this edition, Bitcoin is trading on the markets with a value of $48.780 USD.
📍 Michael Novogratz, a major hedge fund manager and founder of the investment firm in cryptocurrencies, Digital Galaxy, notes that about 460.500 BTC are held by about 24 institutions, which have invested several billion dollars in this cryptocurrency since 2020. According to the expert, these bitcoins represent about 3% of the total bitcoins that exist in circulation today . Besides, Novogratz believes that Bitcoin will reach $100.000 USD per unit by the end of this year.
The expert believes that Tesla's participation in Bitcoin will encourage all companies in the United States to do the same this year, boosting the price of BTC in the markets.
📍Theta (THETA), the token of the streaming network in blockchain, reaches a new all-time high (ATH) in its value, which is being driven by several of the innovations that this network is currently starring in. THETA reached an ATH of $3,47 USD, while at the close of this edition it is trading close to $3,26 USD per unit. This token shows a growth of 49% in the last week.
The boost in THETA value is related to the integration of smart contracts (smart contracts) and the recent launch of its decentralized exchange ThetaSwap, which allows users to exchange their newly created TNT-20 tokens on the Theta blockchain and DeFi staking with non-fungible tokens (NFT).
📍Grayscale Investments, the largest fund manager in cryptocurrencies and digital assets, intends to launch a new investment fund for YFI, the native token of the protocol DeFi, Year Finance. According to a recent presentation conducted by Delaware Trust Company, Grayscale is considering creating a new trust for this token, which is one of the most valued in the digital industry, with a price of $44.500 USD at the time of this edition, and with an all-time high of 51,5K which, so far, exceeds that of Bitcoin.
Bitcoin and Blockchain Adoption
📍The Deutsche Bank, one of the largest banks in Germany, reported in a presentation at the World Economic Forum, about its intention to offer a new custody service for cryptocurrencies and digital assets, in addition to creating a digital platform that allows combining digital assets with traditional banking services.
The World Economic Forum report notes that Deutsche Bank “intends to develop a fully integrated custody platform for institutional clients and their digital assets, providing seamless connectivity with the cryptocurrency ecosystem.” BNY Mellon, a global bank headquartered in the United States, announced similar plans a few days ago.
📍Morgan Stanley Investment Management, a US-based financial multinational, is considering investing in Bitcoin, according to informs Bloomberg. The possible investment could be made through Counterpoint Global, the investment arm of the financial multinational. This subsidiary of Morgan Stanley has extensive investment experience; In addition, the company already has a stake in MicroStrategy, the most important Bitcoin investor in 2020.
NFT and DeFi Markets
📍The DeFi protocol, 0x, announced plans to establish a new Decentralized Autonomous Organization (DAO)Called DAO 0x, which will allow the protocol to decentralize its governance. Decentralization will be done progressively, starting with the funding of a community-owned treasury seed by 0x Labs.
The vision of this protocol, as reported by its community, is to create a “tokenized world where all value can flow freely.”
Regulations
📍The Central Bank of Kyrgyzstan has plans to introduce new regulation in the country, which will allow establishing a licensing framework for exchanges and cryptocurrency service companies. According to informs a local media, the president of the entity, Tolkunbek Abdygulov, stated that the bank could grant a license to cryptocurrency exchanges, in order to regulate the buying and selling activity of cryptocurrencies and digital assets in the country.
📍The Chinese government issued a new decree, which comes into effect in May, to prohibit fundraising through initial coin offerings, better known as ICO. As the document indicates, the decree is established in order to prevent and confront the illegal raising of funds, protect the legitimate rights and interests of citizens and prevent financial risks, ensuring the economic order of the nation, and social stability. of the population.
Starting with this decree, cryptocurrency and service companies that want to offer ICOs to raise funds that favor their initial development must previously have a permit issued by the Department of Financial Administration of the China Council.
Events
📍DeFi Lab, a community focused exclusively on the development of decentralized finance (DeFi), will be holding a virtual meetup next February 18 to discuss different topics related to this sector of digital finance. Among the topics to be discussed are: the performance of the BPro Token in 2020, a demo of the Money on Chain protocol, everything about the future of Defiant v1, and much more. The event will be led by Manuel Ferrari and Bruno Calmels, co-founders of Money on Chain and Defiant, respectively.
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