BITCOIN LONG SETUP
Hello Guys,
I think about BITCOIN Bullish.
Key reason:
Some bitcoin investors are watching General Motors closely in the wake of CEO Mary Barra's response during the company's fourth-quarter earnings call to a question about whether the automobile giant might accept the cryptocurrency as a form of payment.
During the call, according to a transcript posted by SeekingAlpha.com, Jonas asked whether GM might follow other companies - presumably Tesla among them, although he didn't say so - in holding bitcoin to diversify its cash reserves or accepting it as payment for automobile purchases.
CNBC reported shortly after Barra made her remarks that at least one automobile dealer was accepting bitcoin as payment for cars and had been doing so for several years.
A New Zealand hedge fund, NZ Funds Management, which had $350 million worth of assets under management at the end of December 2020, says five percent of its money is invested in bitcoin.
Bitcoin had become a commodity, with many of the attractive hallmarks of gold, which investors often bought as a store of value in times of economic crisis.
If you are happy to invest in gold, you can't really discount bitcoin
Bitcoin jumps as Visa is reportedly said to allow payment settlements using cryptocurrency
Visa is said that on Monday, it will allow the use of cryptocurrency USD Coin to settle transactions on its payment network.
The report headline may be a bit of a stretch since this actually only covers USDC. However, Visa's acceptance of the stable coin in general - this one is pegged to the US dollar and runs on Ethereum and Algorand blockchain - is a positive sign for the rest of the cryptocurrency industry at least.
Bitcoin Supply Reaches the Lowest Level in 3 Months
According to the latest data published by on-chain crypto market analysis firm, Glassnode, around 45.3% of Bitcoin supply has not moved in the last 2 years, the highest level in 3 months.
Institutional demand for Bitcoin is currently driving the price of BTC, but the latest dip in the supply of digital currency is making it difficult for organizations to accumulate the cryptocurrency.
In addition to Bitcoin whales, crypto miners are not selling their BTC assets as the total amount of Bitcoin transferred from all crypto wallets of miners has dropped to the lowest level since December 2020.
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Please Exercise Risk Management 💱
Crypto Portfolio management:
fiverr.com/wahidtipu?up_rollout=true
Thanks, Everyone
I think about BITCOIN Bullish.
Key reason:
Some bitcoin investors are watching General Motors closely in the wake of CEO Mary Barra's response during the company's fourth-quarter earnings call to a question about whether the automobile giant might accept the cryptocurrency as a form of payment.
During the call, according to a transcript posted by SeekingAlpha.com, Jonas asked whether GM might follow other companies - presumably Tesla among them, although he didn't say so - in holding bitcoin to diversify its cash reserves or accepting it as payment for automobile purchases.
CNBC reported shortly after Barra made her remarks that at least one automobile dealer was accepting bitcoin as payment for cars and had been doing so for several years.
A New Zealand hedge fund, NZ Funds Management, which had $350 million worth of assets under management at the end of December 2020, says five percent of its money is invested in bitcoin.
Bitcoin had become a commodity, with many of the attractive hallmarks of gold, which investors often bought as a store of value in times of economic crisis.
If you are happy to invest in gold, you can't really discount bitcoin
Bitcoin jumps as Visa is reportedly said to allow payment settlements using cryptocurrency
Visa is said that on Monday, it will allow the use of cryptocurrency USD Coin to settle transactions on its payment network.
The report headline may be a bit of a stretch since this actually only covers USDC. However, Visa's acceptance of the stable coin in general - this one is pegged to the US dollar and runs on Ethereum and Algorand blockchain - is a positive sign for the rest of the cryptocurrency industry at least.
Bitcoin Supply Reaches the Lowest Level in 3 Months
According to the latest data published by on-chain crypto market analysis firm, Glassnode, around 45.3% of Bitcoin supply has not moved in the last 2 years, the highest level in 3 months.
Institutional demand for Bitcoin is currently driving the price of BTC, but the latest dip in the supply of digital currency is making it difficult for organizations to accumulate the cryptocurrency.
In addition to Bitcoin whales, crypto miners are not selling their BTC assets as the total amount of Bitcoin transferred from all crypto wallets of miners has dropped to the lowest level since December 2020.
Trading Involves High Risk ⚠️
Not Financial Advice 💸
Please Exercise Risk Management 💱
Crypto Portfolio management:
fiverr.com/wahidtipu?up_rollout=true
Thanks, Everyone
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