May 6 – 12, 2019 | Institutional Coverage, Price Targets & More Crypto News

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

Canaccord Analysts Predict That Bitcoin Will See $20K In 2021

May 10 – Canaccord Genuity has released their latest blockchain and digital assets research note, which predicts that the price of bitcoin could hit $20,000 USD by 2021. The research note again regognizes a striking similarity between the price action between 2011-2015 and 2015-2019. For bitcoin, estimated daily transaction volume grew to $801 million USD in May 2019 from $743 million USD in April and $521 million USD in March. The research note also states that the number of confirmed transactions averaged 387,000 per day, compared to 366,000 transactions in the prior month. The note also delves into other developments in the bitcoin network, such as ownership and distribution, scaling, mining, and valuations.

Read the full article here.

Read the full research note here.

Bitcoin Surges Above $7,000 During Weekend Trading

May 12 – The price of bitcoin has breached the $7000 USD mark during weekend trading. During late-April, several announcements were made by leading financial firms regarding the cryptocurrency. Fidelity Investments, for instance, noted that they would begin to offer bitcoin trading services to its institutional clients. Another major financial firm, TD Ameritrade, hinted that it was currently testing bitcoin and litecoin spot trading solutions for its brokerage platform. Increasing institutional support and coverage of cryptocurrencies could help legitimize the asset class over the long term.

Read the full article here.

Bitcoin Will Own a “5% Share in the Earth”, Tim Draper Says

May 10 – Famed venture capitalist Tim Draper said in a recent interview on Fox Business that bitcoin could own a “5% share in the earth”. Draper envisioned that one day, he will be able to conduct his own business by entirely using bitcoin, allowing for “no accounting, no legal, no bookkeeping”. In 2014, Draper won a US Marshals Service bitcoin auction that let him buy almost 30,000 bitcoins at a value of $632 USD each. “[Bitcoin] is a better currency. It’s decentralized, open, it’s transparent. Everybody knows what happens on the blockchain,” he said.

Read the full article here.

SEC Commissioner Voices Concerns on US Crypto Regulatory Delays

May 9 – Hester Peirce, a commissioner of the US Securities and Exchange Commission (SEC), has suggested that regulations are hindering or perhaps even dragging back developments within the crypto industry. During a speech at the Securities Enforcement Forum in East Palo Alto on May 9, she voiced concern that tokens are not easily being determined as securities or not, and unclear guidelines are inhibiting business developments in the sector. “We should not be trying to guide innovation, but we also should recognize that we cannot stop it and embrace the potential for positive change that innovation offers. Our silence is likely to simply push this innovation and any attendant economic growth into other jurisdictions that have done their work and provided clear guidelines for the market participants to follow”, said Pierce. “The U.S. securities markets have historically been the envy of the world; I do not want heel-dragging by the SEC in crypto to mar that well-deserved reputation.”

Read the full article here.

HTC’s Next Smartphone Will Have a Bitcoin Full Node

May 11- At the Magical Crypto Conference in New York on May 11, Phil Chen of HTC revealed a new low-cost version of its blockchain-backed phone, the EXODUS 1s. Notably, the phone will support a “full bitcoin node”, acting just as its computer-based counterparts that help verify transactions on the Bitcoin network. In theory, support for a Bitcoin full node on a phone would be a challenging task, given power and memory size constraints. However, phones of the future that successfully integrate this technology could greatly increase the security of the entire Bitcoin network by further distributing the network across more connected entities. “The bitcoin blockchain is about 200 [gigabytes], and it’s growing about 60 gigs per year. And those numbers are reasonable to hold on a smartphone. Imagine the iPod with 256 gigs … of course the music fan wants to keep the whole music library but the crypto fan wants to keep the whole bitcoin blockchain,” said Chen.

Read the full article here.

3iQ Global Cryptoasset Fund: Price as at May 10, 2019

3iQ is the first regulator approved multi-cryptoasset portfolio manager in Canada, providing accredited investors with exposure to bitcoin, ether, and litecoin through its 3iQ Global Cryptoasset Fund.

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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.