It’s useful now and again to take a look at who is boosting bitcoin and which markets are bullish on the digital currency. We’ve got a roundup of bulls to keep you informed on the latest bitcoin news and cryptocurrency developments.
Wall Street investor Bill Miller has 30% of his fund assets in cryptocurrency. A new Bank of America report suggests the cryptocurrency investment market could be worth at least 1.6 billion dollars. Cryptocompare says Japan trades nearly 61% of the world’s digital currency volume, more than twice that of the US.
Japan’s SBI Holdings will partner with London-based Wirex to introduce a Japanese cryptocurrency payment card. Financial analysts at Autonomous Next report 124 hedge funds now have more than $2 billion invested in bitcoin and other cryptocurrency assets.
Singapore’s Central Bank has no plans to regulate cryptocurrencies in the near future but is keeping a watchful eye on the growing market. Rumors from China suggest Chinese traders may someday soon be able to resume training in bitcoin and cryptocurrency again.
The list of bitcoin and ICO celebrity promoters is growing and now includes Drew Carey, Gwyneth Paltrow, Mel B and Snoop Dogg. Even the Sheriff’s office in Benton County, Arkansas is getting into cryptocurrency mining in order to finance investigations into dark web fraud.
Bill Miller Has 30% Stake in Bitcoin, Sees Adoption as Key to Success
Famous Wall Street investor Bill Miller has a bullish 30 percent of his fund’s assets in Bitcoin according to a recent report from the Wall Street Journal, based on a letter to investors. The letter made it clear that Miller’s fund put 30 percent into Bitcoin back in early 2016 when Bitcoin prices were a fraction of the current level. iller’s fund is up for the year more than 70 percent, far outperforming even the most publicly known hedge funds like Dan Loeb’s Third Point LLC, which has only posted 14 percent gains on the year. Via cointelegraph.com
Bank of America Bullish on Bitcoin ETFs, Anticipates $1.6 Billion Market
Bank of America Merrill Lynch (BAML) reported how bitcoin has the potential of reaching over one and a half billion dollars as a market for exchanges, suggesting Cboe Global Markets, Inc. (Cboe), due to its out-front attitude on cryptocurrencies, will be an early winner in such an exchange-traded fund (ETF) environment. As quoted by Frank Chaparro of Business Insider, BAML explains, “If these volumes were to materialize, with the same relationship between spot market and futures, and the same revenue per contract, the revenue pool would be about $1.6bn.” Via news.bitcoin.com
Japan Solidifies its Position as Bitcoin Powerhouse, Processes 61% of Global Trades
Over the past month, following The PBOC’s crackdown on Chinese Bitcoin exchanges, Japan has successfully evolved into the largest Bitcoin exchange market by trading volume, overtaking the US by a significant margin. According to various market data providers including CryptoCompare, Japan accounts for 57.9 percent of global Bitcoin trades, recording a daily trading volume that is more than twice as large as that of the US Bitcoin market. Via coinjournal.net
Japan Financial Group SBI Strengthens Commitment to Cryptocurrencies
SBI Holdings, the entity that holds most of the group’s businesses and companies, has signed a deal with London-based bitcoin debit card company Wirex to launch a joint venture. SBI Holdings previously invested US$3 million into Wirex’s subsidiary in Japan via its Fintech Fund. The new company, called SBI Wirex Asia, seeks to deliver a Japanese cryptocurrency payment card and further plans to develop other co-businesses in the field of cryptocurrencies, blockchain and payments. Via coinjournal.net
Wall Street Hedge Funds Rush to Cryptocurrencies, 90 Bitcoin-Like This Year Alone
Autonomous Next, a leading financial technology (fintech) research provider, disclosed to CNBC how 124 hedge funds are invested in crypto assets such as bitcoin. With over $2 billion USD under management, it appears, despite some well-documented Wall Street naysayers, the world’s most popular cryptocurrency is convincing money managers the time is right to invest. Autonomous Next’s estimates that in total the “assets under management by crypto-funds now stands at $2.3 billion,” CNBC documents. Via news.bitcoin.com
Singapore Central Bank Chief: No Regulation for Cryptocurrencies
The chief of Singapore’s central bank has indicated it will not regulate cryptocurrencies, but plans to stay watchful on the risks posed by the technology. In an interview with Bloomberg, Ravi Menon, managing director of Monetary Authority of Singapore (MAS), said he currently sees “no basis for wanting to regulate cryptocurrencies. Via coindesk.com
10 Surprising Celeb Bitcoiners
The mainstream appeal of Bitcoin has seen it spread across different demographics, from retired grandmothers to some of the world’s biggest rappers. Celebrities have been used to market certain ICOs, as well as be the face of a host of different coins, but many celebrities have chosen to invest their immense wealth into digital currencies. The Top 10 In true Hollywood-style, we go through 10 of the more surprising celebrities Bitcoiners. Via cointelegraph.com
Arkansas Sheriff’s Office Mines Bitcoin to Fuel Dark Web Investigations
A sheriff’s office based in the US state of Arkansas is taking a novel approach to its investigations into online crime: mining bitcoin. As reported by local sources, investigators at the Benton County Sheriff’s Office have started generating their own cryptocurrency to be used when trying to track the movements of criminals online. The pilot program, conducted through the office’s Cyber Crimes Division, will focus on crimes such as the proliferation of child pornography, among other examples. Via coindesk.com
Chinese Might be Able to Trade Bitcoin Again Soon
19th National Congress of the Communist Party of China, the most important conference in China this year, ended on Oct. 24. With the end of the conference, some temporary regulations and policies are canceled as well. Among the regulations, the shutdown of Bitcoin trading in China might be one. Via cointelegraph.com
LET’S CONNECT