SC Ventures, the innovation and initiative arm of Standard Chartered, partnered with Northern Trust to start a crypto custody business. The new business, called Zodia Custody, will start in London. Zodia will provide custody services for Bitcoin (BTC) and Ethereum (ETH) and will then support more cryptocurrencies in the future, including XRP, Litecoin (LTC), and Bitcoin Cash (BCH), according to the announcement.
Mike Novogratz Reveals That He Holds Half of his Investments in Cryptocurrencies
Galaxy Digital's CEO, Mike Novogratz, recently announced that nearly half of his investments are linked to cryptocurrencies such as Bitcoin (BTC). Galaxy Digital CEO emphasized that cryptocurrency has become digital gold.
Grayscale Continues to Buy Bitcoin
The Coinshares report shows that Grayscale bought $ 336 million (approximately 78%) of the $ 429 million institutional investors pumped into the market in the week ending December 7. Grayscale has raised $ 4.3 billion in digital assets so far in 2020, and the fund is currently leading the investment package with $ 1.4 billion under management.
MicroStrategy Issuing Banknotes To Buy Bitcoin
MicroStrategy had previously set an expectation that it would invest $ 400 million in Bitcoin. He then announced that it offers $ 550 million worth of convertible bonds and plans to use the net income to buy bitcoin. He estimates that net income from the offer will be approximately $ 537.2 million after deducting the necessary expenses and discounts.
Negative Thoughts About Bitcoin Replaced To Praise
Billionaire Ray Dalio, CEO of Bridgewater Associates, known for his negative comments against Bitcoin, acknowledged that Bitcoin is an alternative investment tool to Gold and stated that attention should be paid to its limited supply. In his last statement, it was seen that he was thinking more optimistically against Bitcoin. He explained that in the last 10 years, Bitcoin and other cryptocurrencies have proved to be limited and good investment assets.
New Bitcoin Commentary by J&P Morgan Analysts
JPMorgan strategists stated that the trend that has been going on since November can only continue in the long term with more institutional investors positioning in cryptocurrencies. He said the rise of cryptocurrencies is happening to the detriment of gold. It was said that institutional investors are just beginning to invest in Bitcoin.
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