Statements by Guggenheim Partners’ CIO in late 2020 show that the firm may become the next big institutional investor in Bitcoin. Meanwhile, FinCEN announced a new extension to the comment period for its proposed regulation of certain cryptocurrency transactions. 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.
📍 It appears that the investment management firm Guggenheim Partners could be the next big institutional investor in Bitcoin (BTC) this year. According to a report As reported by CoinDesk, partners at the firm, which manages nearly $300 billion in investments, are expressing great interest in the universe of cryptocurrencies. cryptocurrencies, , and they want to gain exposure to the market leader, Bitcoin.
At the end of 2020, the company's CIO, Scott Minerd, he said during a interview Bloomberg reported that Bitcoin was an asset with great potential for appreciation, potentially reaching a value of as much as $400.000 USD, although the volatility of digital markets made its price unsustainable in the short term. Despite this, Minerd noted that Guggenheim Partners is likely to be among the “first into bitcoins over the next year”, referring to the fact that in 2021 the firm could begin investing in cryptocurrency.
📍 The Financial Crimes Enforcement Agency (FinCEN), an entity attached to the United States Department of the Treasury, announced a new extension of the analysis and evaluation period of its regulatory proposal for cryptocurrencies. At the end of December, the regulator announced the new regulations with a lapse of only 15 days for the crypto community and stakeholders to make their assessment. A period of time that was highly criticized by everyone. Thus, in the face of the thousands of comments and complaints that the department received, the regulator extended the comment date another 45 days, complying with the minimum time suggested to evaluate regulations of great importance such as your proposal.
Now, the regulator announces a new extension of the comment period to evaluate the regulation. With this extension of the comment period, the crypto community and digital industry stakeholders have a total of 60 additional days to evaluate the regulations, counted from the official publication of the FinCEN notice.
📍 China continues to add efforts to publicly test the operation and feasibility of its DCEP, the digital currency CBDC In what is the fourth public test for the study, evaluation and analysis of this digital currency, the Asian nation is integrating new payment functions with Walmart, which is now one of the major retailers that accept payments with this currency.
Likewise, the Asian nation plans to double its efforts to ensure the issuance of its digital currency next year, so will develop new public trials in cities such as Beijing, Shanghai and Chengdu this year; and will repeat trials in cities such as Suzhou and Shenzhen again. People's Bank of China (PboC) will also begin implementing enterprise-scale testing to ensure all possible use cases for DCEP.
📍 On Reddit, the community organized in support of GameStop Corp. triggered an over 800% increase in the value of the video game company’s shares. GameStop, which trades publicly as GME, experienced an incredible rise in its shares, which went from being worth around $17 USD to over $150 USD, after spending years without recording significant gains. This rise in value is associated with the support of Reddit communities, which refuse to sell GME in a short position, driving up the value of the shares.
The way investors interact today is causing a change in how traditional markets work. Initiatives like this were praised by personalities in the crypto world, such as Tyler Winklevoss, who applauded the work of the “LINK Marines,” a community on Reddit in support of the digital token LINK of chainlink, which defended the value of the token in a similar way to how the first communities of Bitcoin y Ethereum.
📍 An Estonian government website joins the initiative to defend Bitcoin freedom with the hashtag #BitcoinPDF gaining popularity on Twitter. On the official e-Residents web portal of Estonia, Estonia now houses the whitepaper of Bitcoin. The white paper can also be found on the website of the Congress dome of the United States, thanks to the ranking member of the House Financial Services Committee, Patrick McHenry.
Continue reading: It's not the end of Bitcoin, institutional adoption continues to grow, says Cathie Wood
