Custody at South-Korean Bank, $250 Bitcoin as Primary Reserve Asset and 33% of U.S. investors interested in BTC
South-Korean Bank wants to offer Custody Services for Digital Assets
The KB Kookmin Bank, one of the largest banks in South Korea, has partnered with blockchain venture fund, Hashed, and crypto trading platform, Cumberland Korea.
Their goal is to establish “strategic technology cooperation” on the custody of digital assets.
“Combining our insight in the blockchain industry and providing both technical and commercial consultations will inevitably open new doors to consumers as well as to the country in ushering the new era of digital transformation.”
The movement that companies are starting with the custody business are a result of regulatory changes. These changes encouraged them to look into new business models — specifically ones which rely on blockchain technology.
Source: Cointelegraph
More than 33% of U.S. investors is interested in Bitcoin
Grayscale Investments launched a Digital Currency Toolkit for Financial Advisors.
It could help decision making for investments based on topics like ‘The Bitcoin Investment Thesis’, ‘Qualities of Bitcoin’ and ‘Portfolio Simulations With and Without Digital Currencies’, which are all included in the toolkit.
According to Grayscale, over one third of the American investors are interested in Bitcoin.
The past months, the Grayscale Bitcoin Trust grew enormously. At the moment of writing, they have $5,8 billion assets under management (AUM) several digital currency Trusts.
MicroStrategy Adopts Bitcoin as Primary Treasury Reserve Asset
Publicly traded business intelligence firm MicroStrategy purchased 21,454 bitcoin on Tuesday, effectively pouring all $250 million of its planned inflation-hedging funds into the digital currency.
“This investment reflects our belief that bitcoin, as the world’s most widely adopted cryptocurrency, is a dependable store of value and an attractive investment asset with more long-term appreciation potential than holding cash.”
~CEO Michael J. Saylor.
Saylor cited forces working to weaken fiat currencies — COVID-19, global quantitative easing measures, political and economic uncertainty — but also the technical and qualitative aspects that he said give the bitcoin blockchain strength.
Source: Businesswire
Bitcoin at All-Time-High (ATH)
Despite the Bitcoin price is far from the $20.000, the BTC price in some non-dollar-native countries rose to an all-time high.
In both Argentina, Turkey and Brazil the price in the trading-pairs with respectively thePeso, Lira and Real spiked to new records.
Due to inflation, the local currencies devalues. The scarce Bitcoin could be a solution for these economic and monetary problems. This narrative is confirmed by local trading volumes.
Last week, the weekly volume of Bitcoin in Brazil rose to $700,000. It’s is a record looking at the the past 12 months, according to figures from Useful Tulips.
The trading activity peer-to-peer exchanges like Paxful and LocalBitcoins are also booming in, for example, Argentina.
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