Bloomberg Crypto Outlook Report: Transitioning Bitcoin Bull
Bloomberg | March 2020 Bloomberg Intelligence analyst Mike McGlone has provided an in-depth analysis within a new report on bitcoin, suggesting that the cryptocurrency is likely to continue increasing in value. According to McGlone, bitcoin is quickly evolving into a digital form of gold. He suggests that increasing adoption and other macroeconomic forces that are supporting gold should help “keep a bid” under bitcoin. |
Canadian Government Funds Blockchain Companies for Steel Tracking CoinTelegraph | March 9, 2020 The Innovation, Science, and Financial Development Canada (ISED) have granted both Mavennet and Peer Ledger $150,000 to develop a platform that enables steel traceability. Both companies will be working on a proof-of-concept prototype that allows the real-time sharing of information related to the industry. |
Morningstar Rates Ethereum Securities for the First TimeDecrypt | March 9, 2020 The investment rating agency Morningstar has now audited several tokenized securities issued by Fatburger, the American fast-food chain. Fatburger raised $39.7 million USD in part from securities they issued on the Ethereum blockchain. The audit reportedly “praised” blockchain for its increased transparency and efficiency. |
China’s Central Bank Will Invest $4.7M Into Blockchain Trade Finance PlatformThe Block | March 9, 2020 The People’s Bank of China (PBoC) will invest $4.7 million USD into developing its blockchain trade finance platform. Over 35 banks are reportedly part of the blockchain trade finance platform, which has helped process around 87 billion yuan (~12.4 billion USD) worth of transactions as of December 2019. The funding is expected to help optimize the platform for small and medium-sized businesses. |
Bitcoin Is Protection From Money Printing as US Bond Yields Hit LowsCoinTelegraph | March 10, 2020 Despite the price of bitcoin declining with global markets this past week, some industry experts are suggesting that the cryptocurrency will ultimately protect its users from central banks, governments, and increased money printing. “At the moment, bitcoin is not a general hedge against every black swan and still behaves like a ‘risk on’ trade,” said Naval Ravikant, the CEO of AngelList. “But long term, bitcoin is a hedge against central banks printing money, which is inevitable as a reaction to the virus.” |