DBS CEO: Cryptocurrency Will Continue To Increase As A Store Of Value Like Gold
Cryptocurrencies such as Bitcoin will continue to rise as a valuable store of value, just like gold, Piyush Gupta, the chief executive officer(CEO) at DBS Bank says. He does not believe, however, that cryptocurrencies will take over the role of a government-backed currency. Piyush Gupta of DBS sees cryptocurrency as a store of value. DBS Holdings […]
CoinZoom, a cryptocurrency exchange is reported to block new accounts in Russia
CoinZoom, a cryptocurrency exchange based in the United States, has announced that it will no longer accept new account applications from Russians in the wake of the country’s invasion of Ukraine and the imposition of further economic sanctions. Only existing Russian customers will be able to use the exchange, but they will be screened against […]
Will Bitcoin’s Correlation with stocks separate after hitting 2 month low?
Bitcoin’s most recent gain caused it to diverge even farther from the stock market. While global markets continued to fall on news that the US might impose a ban on Russian energy, the world’s largest cryptocurrency rose more than 6% to surpass $41,000. Bitcoin surpassed stocks last month Despite falling in line with equities in […]
Janet Yellen Applauds Joe Biden’s Leaked Executive Order for Getting the Crypto Market Moving
Joe Biden’s executive order on cryptocurrency has been leaked just a day before it is set to be signed on March 9th. In reality, crypto aficionados have obtained access to the remark from Treasury Secretary Janet Yellen. According to the information provided, Yellen hails the crypto executive order as “historic” and one that achieves a balance between responsible innovation and consumer safety. In terms of specifics, Yellen says: President Biden’s historic executive order calls for a coordinated and comprehensive approach to digital asset policy. This approach will support responsible innovation that could result in substantial benefits for the nation, consumers, and businesses. It will also address risks related to illicit finance, protecting consumers and investors, and preventing threats […]
Bitcoin (BTC) reclaims $41,000, with Terra’s LUNA leading the altcoin rally
Today, the larger cryptocurrency market is up 5%. Bitcoin (BTC) has rebounded 7% to $41,500 levels, which is a surprising move. Following a period of high volatility in the market, the market has recently rebounded. The anticipated executive order from the Biden administration appears to be getting a thumbs up from the market. Given the current geopolitical circumstances resulting from the ongoing Russia-Ukraine military crisis, Bitcoin and the crypto market as a whole can play a significant role. Commodity prices have been rising recently, with gold taking center stage. Risk assets, such as Bitcoin and stock, have, on the other hand, experienced significant losses. However, according to Santiment, an on-chain data provider, crypto debates are picking more steam. DBS Holdings Group Ltd. Chief Executive Officer Piyush Gupta stated in his recent report on March 9 that private cryptocurrencies such as Bitcoin will continue to emerge as a substantial store of wealth. He continued, “ Regulators and politicians “will be loath to give up control of monetary policy and economic management tools, and will therefore be very circumspect about letting private money grow. Having said this, I do think that private money (crypto) will continue to grow as a meaningful store of value, […]