April 23 – 29, 2018 | Nasdaq, Bitcoin Sentiment & More Crypto News

North iQ Weekly Newsletter is curated to provide insights on digital asset industry developments, market announcements, and performance analysis.

Nasdaq Open to Becoming a Cryptocurrency Exchange

April 25, 2018 – The CEO of Nasdaq, Adena Friedman, has announced that the major exchange is open to becoming a platform for cryptocurrency trading. The exchange is currently awaiting more regulatory clarity, and for the cryptocurrency space to mature a little longer before delving into cryptos. Despite awaiting regulations, the company on Wednesday has announced support for other existing cryptocurrency exchanges, as Nasdaq struck a technology deal with the crypto exchange Gemini. The deal grants the Gemini exchange access to Nasdaq’s surveillance technology, which ensures the platform can provide a fair and “rules-based marketplace” for Gemini’s participants, says Gemini CEO Tyler Winklevoss.

“I believe that digital currencies will continue to persist it’s just a matter of how long it will take for that space to mature,” said Friedman. “Once you look at it and say, ‘do we want to provide a regulated market for this?’ Certainly, Nasdaq would consider it”. This contrasts a popular belief of regulations negatively impacting bitcoin’s sentiment. While Friedman appears to be optimistic about the role of cryptocurrencies in the future, she remains hesitant of ICOs.

Read the full article here.

Tim Draper: Bitcoin will be Bigger Than Tesla, Hotmail, and Skype Combined

April 23, 2018 – Famed venture capitalist Tim Draper has said that bitcoin will be bigger than Tesla, Hotmail, and Skype combined. Draper is the founder of venture capital firms Draper Associates and DFJ. Tim believes the price of bitcoin will reach $250,000 by 2022, and could be “bigger than the Internet”. In an intelligence debate last Saturday, Tim went as far as to say It’s even bigger than the Iron Age, Renaissance, and Industrial Revolution.

“In five years you are going to try to go buy coffee with fiat currency and they are going to laugh at you because you’re not using crypto” Tim said to a live audience. “I believe that there will be a point at which you will no longer really want any of the fiat currency”.

Read the full article here.

Only 20% of Bitcoin are Left to be Mined

April 26, 2018 – Bitcoin is well known for its fixed supply of just 21 million coins. Data from blockchain.info indicates that bitcoin has now surpassed the 17 million mark in the number of coins mined. Coins that have been mined are otherwise known as the total bitcoins in circulation, and the current supply of the bitcoin network.

Key milestones, such as the most recent 17 million level, are indicators of “psychological barriers” as viewed by Teras Capital founding partner, Alex Sunnarborg. He interprets the result as 80% of all bitcoin that will be created have now been mined. To put this into perspective, there is just 20% of remaining supply for future miners and buyers. Each bitcoin block creates 12.5 new bitcoin; with bitcoin blocks occurring approximately every 10 minutes, this calculates to about 1,800 new bitcoin created every day. With a limited supply hard-coded into Bitcoin’s technology, and a trend of increasing demand, simple economics may suggest higher bitcoin prices are on the horizon.

Read the full article here.

1 in 5 Financial Firms are Looking at Trading Cryptos Soon

April 24, 2018 – In a recent Thompson Reuters survey, approximately one in five financial firms including Wall Street’s biggest banks, hedge funds, and trading desks are looking at trading cryptocurrencies soon. For those interested in trading cryptocurrencies, about 70% claimed they are planning to trade within the next three to six months. According to Brian Kelly, founder and CEO of BKCM, says the news of improving sentiment from the most influential financial institutions are “very positive” for bitcoin prices.

“Cryptocurrency is still a relatively small part of the trading market, but this survey indicates this niche segment is starting to enter the mainstream of the financial services industry,” said Neill Penney, co-head of Trading at Thomson Reuters. “This is a major change from a year ago.”

The survey was conducted on over 400 clients, ranging from hedge funds, asset managers, and trading desks at major investment banks. Overall, the results showed a widespread familiarity with cryptocurrencies. Over the last two months, major banks Barclays and Goldman Sachs have publicly announced that they are planning to trade cryptocurrencies. News from these two major players is an indication that institutional money may be ready to enter the market sometime in 2018.

Read the full article here.

List of Bitcoin’s Biggest Bulls and Bears

April 29, 2018 – Bitcoin’s tremendous outperformance has made it hard for some of the world’s most influential people in finance, politics, and technology to comprehend. Many famed professionals, such as Berkshire Hathaway’s Warren Buffet, continue to caution eager investors about the cryptocurrency space. However, increased coverage and support from other notable influencers is gaining traction as cryptocurrencies surged over April 2018.

Bloomberg Technology has published a running list of some of bitcoin’s biggest bulls and bears, along with quotes and price targets from many.

Read the full list of bitcoin’s bulls and bears here.

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This Weekly Cryptoasset Newsletter is for informational purposes only and does not constitute, either explicitly or implicitly, any provision of services or products by 3iQ Corp (“3iQ”). Investors should determine for themselves whether a particular service or product is suitable for their investment needs or should seek such professional advice for their particular situation.3iQ Corp. makes no representation or warranty to any investor regarding the legality of any investment, the income or tax consequences, or the suitability of an investment for such investor. All content is original and has been researched and produced by 3iQ unless otherwise stated therein. No part of the content may be reproduced in any form, or referred to in any other publication, without the express written permission of 3iQ. All statements made regarding companies, securities or other financial information contained in the content or articles relating to 3iQ are strictly beliefs and points of view held by 3iQ and are not endorsements of any company or security or recommendations to buy or sell any security. No securities regulatory authority has expressed an opinion about these securities and it is an offence to claim otherwise. By visiting and/or otherwise using the 3iQ website in any way, you indicate that you understand and accept the terms of use as set forth on the website and agree to be bound by them. If you do not agree to the terms of use of the website, please do no access the website or any pages thereof. Any descriptions of, references to, or links to other products, publications or services does not constitute an endorsement, authorization, sponsorship by or affiliation with 3iQ with respect to any linked site or its sponsor, unless expressly stated by 3iQ. Any such information, products or sites have not necessarily been reviewed by 3iQ and are provided or maintained by third parties over whom 3iQ exercises no control. 3iQ expressly disclaims any responsibility for the content, the accuracy of the information, and/or quality of products or services provided by or advertised on these third-party sites. The information contained herein, while obtained from sources believed to be reliable, is not guaranteed as to its accuracy or completeness and confers no right on purchasers. Past performance of cryptoassets is not indicative of future performance and should not be used to forecast any return that an investor may realize.

Fred Pye

Frederick T. Pye


Frederick T. Pye is the Chairman, Chief Executive Officer and Director of 3iQ Corp. He is also the Chairman and Director of 3iQ Digital Holdings Inc. Mr. Pye is recognized for creating and promoting creative and unique investment products for the investment industry.

Mr. Pye has managed private client portfolios with Landry Investment Management and various other investment dealers. Prior to this Mr. Pye was Founder, President & Chief Executive Officer of Argentum Management and Research Corporation, a company dedicated to managing and distributing quantitative investment portfolios including the first long-short mutual fund in Canada.

He was also Senior Vice-President and National Sales Manager of Fidelity Investments Canada and an integral part of the team that saw assets rise from $80 million to over $7.5 billion in assets under management during his tenure. He also held various positions with Guardian Trust Company, which listed the first Gold, Silver and Platinum Certificates on the Montreal Exchange.

Mr. Pye obtained a Masters in Business Administration from Concordia University.