If you are a regular investor in bitcoin, you need to be aware of the latest developments and news concerning bitcoin. The article aims to uncover every little news about bitcoin that happened in the world of bitcoin.
The crypto economy has achieved significant milestones. It has witnessed the fueling surge in the value of digital assets. As per many experts, the industry will begin to preserve its momentum even after rallies. The world of cryptocurrency has seen many innovations and developments lately. In this article, we will discuss all these recent developments:
- In April 2021, Venmo announced it is adding crypto support to its platform. Thus, it has joined the list of companies that have started accepting digital currencies as payment.
- As per a report published in April 2021, Square IncFidelity and Coinbase are joining hands to form a Crypto Council. The council will aim to pursue innovation to clear the industry’s mission to the users and investors. This way, the council will benefit the regulators, policymakers, and people around the world.
- In April 2021, Goldman Sachs also announced that it plans to make Bitcoin funds for its wealthy clients. This way, we will see a speeding up of the institutional adoption of digital currency. In addition, the company informed that it would add a new digital asset group within its private management division.
- In March, PayPal announced that it will now allow its US consumers to use cryptocurrency to pay at millions of the online merchants located internationally. Thus, consumers holding virtual currencies in the PayPal wallets can now use the assets to make purchases. This way, PayPal has offered to sell, buy and hold their cryptocurrencies launched in October.
- Just a week before the announcement made by PayPal, Tesla also announced that it would start accepting bitcoin as a form of payment. Tesla will hold the bitcoin used in the payment. No doubt the bitcoin price is quite volatile, but the tech-billionaire Elon Musk is accepting bitcoin and other cryptocurrencies. Thus, he is giving a significant boost to digital currency. Tesla has also announced that it has invested more than $1.5 billion in bitcoin to diversify its portfolio and maximize the return on the cash they are investing. In addition, as an influential businessman, Elon Musk’s constant support for digital currencies has led to an increase in the price and valuation of digital currencies.
- In March 2021, Visa also announced that you could use cryptocurrency USD coins. Thus, it will be a stable cryptocurrency whose valuation will be as per the changes in the value of US dollars. It is a pilot program that Visa will launch very soon. As per the program, the payment network will work along with the crypto.com platform and Anchorage, a digital asset bank.
- The New York Mellon bank, one of the world’s largest custody banks, has also started investing in cryptocurrency custody Fireblocks. The company is a market leader that offers secure technology for the functioning of digital assets. As per the reports, BNY Mellon plans to use Fireblock’s technology to work as a custodian for digital assets.
- Morgan Stanley also became one of the first US banks to offer Bitcoin funds to its wealthy clients. As per the reports, the investment bank will also offer access to three different types of funds. This way, the company will offer bitcoin ownership, especially for investors who have aggressive risk tolerance.
- In March 2021, JPMorgan also announced that it is also exploring bitcoin and other cryptocurrency clearinghouse options. Thus, the company has emphasized the need for a middleman who can sit between the desk and traders to create market liquidity and guarantee proper trade enforcement.
- In February 2021, the first Bitcoin Exchange-traded fund (ETF) got its approval in North America. A Canadian investment firm owns the ETF. The trading for the ETF is on the Toronto Stock Exchange.
So, these were some of the important news related to bitcoins and cryptocurrencies that happened in the last six months. If you want to receive monthly or bi-monthly updates on this news, follow the platform crypto engine. Then, let us know if you want more details.
