Bitcoin

The Bitex (a cryptocurrency exchange) has entered in partnership with a prominent banking service provider in Latin America, Bantotal (located in Uruguay) which gives the exchange to work with more than 60 banks and other financial institutions. Bitex CMO Manuel Beaudroit stated, With this technology, banks can have access to an API and have control of the whole process of payment with visibility and reliability on the bitcoin blockchain.”

A digital assets investment company, Grayscale Investments as published a case study on how BTC could be used as a hedge against financial instability. From the report: “With continued adoption, Bitcoin represents a transparent, immutable, and global form of liquidity that can provide both wealth preservation and growth opportunities. As a result, we believe it deserves a steady strategic position within many long-term investment portfolios.”

There are many positive happenings in China regarding crypto industry in particular Bitcoin, like the Hangzhou Internet Court recently ruled that Bitcoin is a commodity. The state owned Bank of China has recently released an infographic about Bitcoin. The CEO of Circle (a p2p payment company) Jeremy Allaire explained, “We have been seeing, from my vantage point, a softening in the Chinese stance towards crypto,”

The CEO of crypto payments firm Circle, Jeremy Allaire, has predicted that macroeconomic turmoil is the major engine behind the bitcoin rally. He stated: “You can very clearly see some macro correlation there. I think the broader theme of, Bitcoin specifically, crypto more broadly participating in these global macro forces is becoming more clear. Rising nationalism, rising amounts of currency conflict, trade wars, these all obviously are supportive of a non-sovereign, highly secure digital store of value.”