November 25 – December 2, 2020 | North iQ Newsletter
3iQ Research Group consolidates the top five cryptoasset stories of interest to investment advisors and our investors.
With Bitcoin Near All-Time High, Visa’s CEO Sees a Promising Future for Crypto
November 20 – Visa’s CEO, Alfred Kelly, expects cryptocurrencies like bitcoin to increasingly be used as methods of payment, evolving beyond their current use as a store of value, as the shift to cashless societies accelerates and the price of bitcoin continues to surge.
PayPal CEO Explains Why They are Adopting Cryptocurrency
November 23 – On CNBC’s Squawk Box, PayPal’s CEO explains that the company is “making it very simple and easy for people to utilize crypto as a funding source” as the number of individuals switching to digital payments and currencies continues to grow.
November 27 – Libra, the Facebook-led digital currency, is preparing to launch early in the new year, but in a hyper-limited format as a result of the sceptical reception it has received from global regulators, who have warned that it could threaten monetary stability and become a hotbed for money laundering.
Ethereum 2.0 Deposit Contract Secures Funds to Launch the Beacon Chain
November 23 – The Ethereum 2.0 deposit contract has accrued more than 540,000 ETH, ensuring that the beacon chain for Ethereum 2.0 will launch on December 1st. This first phase of initiates the activation of Ethereum’s most ambitious upgrade yet, which will radically shift Ethereum’s economic model, resource usage and governance.
November 17 – China is likely to be amongst the first countries to issue a sovereign digital currency, or digital yuan, and expects it to reach 1 billion users within 10 years. The digital yuan will be an attractive alternative to fintech platforms given its anonymity, the ability to operate outside of wireless networks, and interconnectivity among different payment methods.
AllianceBernstein Now Says Bitcoin Has Role in Portfolios
November 30 – Fraser Jenkins, co-head of the portfolio strategy team at AllianceBernstein, a global investment giant, has reconsidered their positioning on bitcoin as an investment asset. Jenkins states that the “significant reduction” in the volatility of bitcoin’s price makes it more attractive both as a store of value and as a medium of exchange.
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