3iQ’s Top 5 Digital Asset Stories of the Week
May 15 – May 22, 2020
Bitcoin Pizza Day 2020: Two Pizzas Now Worth $91 Million USD
Decrypt | May 22, 2020
Today marks the 10th anniversary of “Bitcoin Pizza Day”, a yearly crypto-industry event. Ten years ago, Laszlo Hanyecz became one of the first people to buy physical goods with BTC. Unfortunately for Hanvecz, he bought two pizzas for 10,000 BTC a decade ago – meaning those pizzas were worth $91 million USD at today’s exchange rate. According to Hanyecz, he doesn’t regret the transaction.
JPMorgan Warns That Digital Currencies Could Threaten US Geopolitical Power
Bloomberg | May 22, 2020
After approving bank accounts for cryptocurrency exchanges Coinbase and Gemini last week, JPMorgan has again resurfaced, this time claiming that digital currencies such as bitcoin or central bank digital currencies (CBDCs) could threaten US geopolitical power in the future. “There is no country with more to lose from the disruptive potential of digital currency than the United States,” stated analysts at JPMorgan. “This revolves primarily around U.S. dollar hegemony. Issuing the global reserve currency and the medium of exchange for international trade in commodities, goods, and services conveys immense advantages.”
Bitcoin’s Third Halving: A Thesis for Institutional Investment
Messari, Bitstamp | May 20, 2020
Messari, a leading digital asset analysis and data aggregation firm, has joined with the major cryptocurrency exchange Bitstamp to provide an in-depth overview on Bitcoin’s most recent halving event which occurred on May 11, 2020. The report delves into the details surrounding the halving event, and how leading digital asset fund managers such as Grayscale, 3iQ Corp, and others are leading the institutionalization of Bitcoin around the world.
Former Coinbase Lawyer to Become Head of Major US Bank Regulator
CoinTelegraph | May 21, 2020
According to the United States Office of the Comptroller of the Currency (OCC), the former chief legal counsel of Coinbase, Brian P. Brooks, will become the head of the OCC on May 29. Brooks’ move to US banking regulation after working for one of the largest cryptocurrency exchanges in the world may suggest that there is now a heightened interest for digital assets within traditional banking and regulation.
Binance Research: Bitcoin Network Overview
Binance | May 21, 2020
Binance, one of the world’s leading cryptocurrency exchanges, has recently released a new detailed overview of the Bitcoin network. The overview is an excellent first-step for those unfamiliar with the network, but also explains a myriad of more complex topics within the Bitcoin ecosystem for those with a heightened understanding, such as the Schnorr Signature upgrade proposal, and other development activities currently underway.