Crypto2Cash is nominated for the Cashcow Awards 2020 — vote for us as the best Crypto Broker!
Crypto2Cash is nominated for the Cashcow Awards 2020!
We’d like to start this Crypto2Cash Chronicle with some great news. It’s not about Bitcoin or cyptocurrencies in general, it’s about us!
We are nominated for the Cashcow Awards 2020, a prestigious Dutch prize in (retail) investors industry. To be particular: we are nominated for the category of ‘best crypto brokers’.
We’re very glad and proud for being on this shortlist. But we need your help! You can vote via this link until October 24 (12:00). The Cashcow Awards will be presented on October 30 during online Investors Fair.
Stone Ridge Reveals $115 Million Bitcoin Investment
Let’s continue this chronicle with some Bitcoin news. Because asset manager Stone Ridge follows the way that is being paved by MicroStrategy and Square. They bought $115 million of Bitcoin. Cofounder Robert Gutmann explains it is a belief in …
“… the long-term growth of an open-source monetary system — in assets like bitcoin.”
But .. the problem was that Stone Ridge needed a way to turn the dollars they wanted to invest into bitcoin and to safely store that cryptocurrency once they had it.
Instead of starting a (new) fund to satisfy their clients, auditors and regulators, they took the step to build their own custody tool. So besides buying Bitcoin for their own sake, they can also hold cryptocurrencies for their clients.
As part of the announcement, Stone Ridge Holdings Group revealed NYDIG is acting as custodian of 10,000 of the parent company’s bitcoin, valued at $115 million at today’s price.
Best quarter for asset manager Grayscale ever
According to the report from Grayscale Investments about Q320, the asset manager raised over $1 billion into their Trusts the past three months. The Grayscale Bitcoin Trust (GBTC) increased with more than $700 million.
While Bitcoin continues to be a major part of Grayscale investor allocations, the most notable uptick in growth comes from products that hold alternative assets. Products excluding Bitcoin accounted for 31% of inflows during 3Q20.
This is the third consecutive record-breaking quarter. Their year-to-date investment into the Grayscale family of products has surpassed $2.4 billion, more than double the $1.2 billion cumulative inflow into the products from 2013–2019.
- Total Investment into Grayscale Products: $1.05 Billion
- Average Weekly Investment — All Products: $80.5 million
- Average Weekly Investment — Grayscale Bitcoin Trust: $55.3 million
- Average Weekly Investment — Grayscale Ethereum Trust: $15.6 million
Schnorr and Taproot Upgrade Proposal Merged Into Bitcoin Core
The pull request was originally created by Bitcoin Core contributor Pieter Wuille on September 13th and has gone through extensive review and testing over the past month. Over 150 developers also participated in a 7-week review club for the proposal which was led by Anthony Towns back in November of 2019.
Taproot will breng lots of new functionalities towards Bitcoin. It adds more privacy and will cause new possibilities in terms of smart contracts. The upgrade’s activation method has yet to be determined. This can take more than a year, since Bitcoin does not have a CEO or office to decide for these kind of groundbreaking changes.
Source: BTC Times
Are you still with us? Great! Finally, we would like to remind you to vote for Crypto2Cash as the best Crypto Broker from the Netherlands. We would be very grateful for each vote! Click here to read more about the Cashcow Awards 2020.
Give us a call on +31 85 2250 510 or email us at firstname.lastname@example.org. Our members of staff are available between 9.00–18.00 CET to answer any question you may have, especially in regards to easily selling your crypto for fiat currencies.