The debate over the status of the cryptocurrency in Russia is about to end, according to a local report. Russian newspaper Kommersant reported that the Central Bank of Russia and the government have reached an agreement on cryptocurrency regulations.
Bank of America Says Bitcoin Acts as a Multi-Risk Asset rather than an Inflation Hedge
While Bitcoin investors often promote the cryptocurrency as an anti-inflationary "digital gold", Bank of America says this is by no means true. A recent company report shows that the crypto asset is moving much more similarly to risky assets like stocks, reaching all-time high correlations with the S&P 500 by the end of January.
Gucci Purchases Virtual Land at the Sandbox
Luxury fashion brand Gucci has bought itself some land on The Sandbox platform. This action will allow the fashion brand to create virtual fashion experiences for consumers, but details on what that experience will lead to are not yet public and it is unknown how much the fashion brand has invested in acquiring digital land rights.
JP Morgan Resets Long-Term Bitcoin Target to $150K
In a recent investor note, the bank's analysts estimate that Bitcoin's "fair value" is currently $38,000, which is almost 12% lower than the current market price of around $44,000. While current market conditions have led JP Morgan to set a lower "fair value" for Bitcoin, analysts have actually raised their long-term price forecasts for the flagship crypto. In the research note, they updated their previously set $146,000 target for BTC to $150,000.
Microsoft Corp. Is Looking For A Crypto Business Director To Build Its Web 3.0
The world's tech giant Microsoft Corp., which is tracking crypto adoption globally, is now looking to hire a Blockchain Business Development Director to lay the foundation for future Web 3.0. The job role with the company's Artificial Intelligence and Emerging Technologies team will lay the foundation to support and inform Microsoft's Web 3.0 strategy, according to a job posting on Microsoft's official website on Monday, February 7th.
$9 Trillion Asset Management Firm BlackRock To Add Bitcoin Trading To Its Services
The world's largest asset manager, BlackRock, wants to allow its clients to trade cryptocurrencies. The mega-asset manager wants to start his offering with trading customer support before continuing to offer his own credit facility for crypto trading. This means BlackRock has previously shown a positive trend towards cryptocurrencies, and Bitcoin in particular, according to sources familiar with the plans.
Aave Launches Web 3 Social Media Platform: "Lens Protocol"
Decentralized finance lending platform Aave (AAVE) has launched the Lens Protocol ecosystem on the Polygon (MATIC) blockchain to challenge centralized social media platforms like Twitter or Facebook. Beginning with an open letter to rally support around the idea that content creators should own and control their digital identities, the project led to the development of a Web 3 local social network powered by NFTs.
We support the Turkish sports and our sportspeople via our sponsorships agreements with 1907 Fenerbahçe Wheelchair Basketball Team, Cem Bölükbaşı, Erden Eruç, and Turkish Automobile Sports Federation! In this very rewarding and helpful journey of ours, we will continue to enrich and strengthen the Turkish sports thanks to the new steps we take in reaching brand new sponsorship agreements.