Resident Fund Manager At CNBC Calls For $6,000 Price Of Bitcoin
The resident fund manager at CNBC, Brian Kelly has reason to believe that the Bitcoin bulls are back after BTC breached several resistance levels in quick successions reaching as high as $5,000 USD.
Kelly declares that it is clear that the bottoming process is the crypto market is likely well in the works citing his company’s analysis.
He is the chief executive of cryptocurrency investment group BKCM which has been reported to weigh fundamentals, technicals and quantamentals.
He reveals that high net-worth individuals, family offices are starting to take serious interest in Bitcoin due to the following reasons: availability of custody solutions, volume trading is up, short sellers looking to cover their rear ends.
He predicts that a reasonable target with this kind of momentum would be $6,000 which many pundits believe to be an important resistance level to indicate with a certain degree of confidence that we have left bear territory.
Pakistan Will Issue A Sovereign Digital Currency By 2025
Jameel Ahmad,the Deputy Governor of Pakistan’s State Bank, believes that digital currencies are more efficient than its fiat counterpart and have called on the government to ensure that cyber security is a top priority to enable the country to take full advantage of this new financial innovations.
While the government is taking its time to release its own digital currency private entities are called to build digital solutions in the meantime to encourage e-commerce in the national, regional and international level.
According to a local news outlet, the last great financial innovation in Pakistan was the legalization of web banks or branchless banking.
The next step is allowing non-banks called Electronic Money Institutions to participate in the facilitation of payments which provides a framework for blockchain companies to apply for regulatory approval.
Crypto Companies Owned 30% Of This Small German Bank
It has been recently reported that a small bank located in Germany is now 30% owned by cryptocurrency industry.
The said Munich-based bank is called WEG Bank AG focuses on the real estate industry.
The cryptocurrency related organization that share 30% of the bank equity includes Nimiq, TokenPay and the Litecoin Foundation
According to the co-founder of Nimiq, Elion Chin, WEB bank is on the way to reinventing itself as a bank of the future with the said partnerships as well as new clients including blockchain application platform Lisk.
The WEG bank initially enlisted Nimiq to help develop infrastructure for external crypto-fiat conversion for banking clients prior the latter investing into the former.
The Nimiq system is scheduled for a limited launch in 2020 which will facilitate Decentralized exchange (DEX) to WEB Bank AG transction.
It must be noted that WEB will remain a traditional bank that never directly touching cryptocurrency perhaps due to regulatory concerns, but will provide crypto related solutions through its partners.
Digital ID Is Paypal’s First Foray Into Blockchain Use Case
Paypal has reportedly made its first investment in blockchain technology with its investment into Cambridge blockchain, a company that focuses in developing solutions for digital identity.
According to a representative from Paypal the investment was made on Cambridge Blockchain because they believe the company is applying blockchain technology in a way that will benefit financial services companies like them.
Cambridge Blockchain aims to build blockchain-based products for financial companies that want more efficient ways to verify customers.
While the move is quite late for a company that once lead the digital payment revolution it is a positive sign for Paypal to invest in the same technology cryptocurrencies use.
Coinbase Reveals Insurance For Its Hot Wallet
U.S.–based cryptocurrency giant Coinbase has recently revealed that its hot wallet will be insure by Lloyd’s of London with a coverage $255 million limit.
This was disclosed by the company’s Chief Information Security Officer (CISO) Philip Martin in an official blog post last April 2.
It was also revealed that Coinbase has held insurance policy covering its hot wallet crypto holdings since mid-November 2013 covering theft by hacking.
Martin outlines two insurance classes that is involved in crypto insurance: Crime and Specie marketplace.
The former, Crime, includes losses incurred by hacking, insider theft, fraudulent crypto and fiat transfers, while on the other hand the Specie refers to physical damage or loss of private keys.
It must be noted that Llyod’s of London itself is not an insurance company but functions as its own partially-mutualized insurance market place, within which multiple underwriters , grouped in syndicates, come together to pool and spread risk.
Headlines for the world of Cryptocurrencies - April 02, 2019**Coinbase Launches International Payments Service / Nasdaq Stock Surges 20% After Bitcoin Rally / XRP Exchange Traded Product Listed In Swiss Stock Exchange / Puerto Rico Has Now Its Own Crypto Friendly Bank / Food Tech Giant Leverages Blockchain To Combat Salmonella And E. Coli / ** |
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Headlines for the world of Cryptocurrencies - April 01, 2019Bitcoin To Reach A Price Of $150,000 In 2023 / US SEC Seeking Crypto Specialist Attorney Advisor / Facebook Competitor Now Wants To Issue Its Own Crypto / Finite Supply Of Bitcoin Challenges Crypto Regulators According To CME Group / Coincheck Launches OTC Traing Desk |
Headlines for the world of Cryptocurrencies - March 31, 2019Satoshi Nakamoto Resurfaces In Bitcointalk.org / Cryptocurrencies Could Reduce The Demand For The US Dollar / Former IBM and Cisco Exec Joins Bakkt / The Ripple Company Partners With Indian Banks Despite Crypto Restriction / Binance Coin Leading the Crypto Race With 185% Appreciation In Value |
