June 10 – 16, 2019 | Bitcoin Soars Over $9000, Nasdaq Quandl & More Crypto News

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

Bitcoin Hits New Year-to-Date (YTD) Highs as Prices Soar Over $9000 USD

June 16 – Bitcoin soared over weekend trading to hit new yearly highs as its price is now back above the $9000 mark. According to Messari, a cryptocurrency research company and data aggregator, over $19 billion USD worth of bitcoin was traded across cryptocurrency exchanges over June 15 to June 16, 2019. Bitcoin is also getting notably close to the $10,000 USD handle, which could be seen as a significant breach. In addition to bitcoin, litecoin prices have also propelled over the weekend, reclaiming the $135 USD mark. The litecoin price could be getting bolstered by its upcoming halving event, which is expected to take place this coming August. Additionally, Bakkt, the crypto exchange that is backed by the New York Stock Exchange (NYSE) parent company Intercontinental Exchange (ICE), is expected to start accepting new beta testers for its platform sometime next month.

Read the full article from Forbes here.


CryptoCompare Reference Prices Added to Nasdaq’s Quandl Institutional Data Platform

June 11 – Nasdaq’s institutional data platform, Quandl, is set to add cryptocurrency reference prices by utilizing indexes created by CryptoCompare. Quandl is financial dataset aggregator that provides hedge funds, asset managers, and other investment professionals with key alternative financial datasets stemming from capital markets, energy, healthcare, education, and others. The indexes provided by CryptoCompare will deliver current price discovery of the “most liquid” cryptocurrency markets for Nasdaq. CryptoCompare also provides crypto trading data to MVIS, a subsidiary of VanEck, which created the first major digital indexes in November 2017. “We are delighted to partner with Nasdaq on a joint Aggregate Crypto Reference Prices product. Reliable data is the bedrock of transparent, liquid markets and by bringing our high quality, granular dataset to a global institutional client base, via the Quandl platform, we will give traders and investors a competitive edge,” said Charles Hayter, the CEO and co-founder of Quandl.

Read the full article from Coindesk here.


“Visa and Mastercard Back Facebook’s Cryptocurrency, Among Others

June 14 – According to The Block Crypto, Facebook’s new cryptocurrency has been backed by several high-profile firms in finance, technology, retail, and other industries. These firms will help govern the cryptocurrency through the Libra Association. Notably, credit giants such as Visa and Mastercard are listed as members of the Libra Association, as well as venture capital firms Andreessen Horowitz and Union Square Ventures, and the cryptocurrency exchange Coinbase. A person familiar with the situation said Facebook charged some members $10 million USD to manage their own node, although The Block Crpyto later updated the article saying there were no charges. Facebook is expecting at least 100 members to join its Libra Association. Facebook is also expected to have a “soft release” of its cryptocurrency tomorrow on Tuesday, June 18, 2019.

Read the full article from The Block Crypto here.


Ubisoft is Exploring the Ethereum Blockchain for Video Games

June 12 – According to the French newspaper Les Echos, Ubisoft is reportedly exploring the use of the Ethereum blockchain for an upcoming video game. Ubisoft is a publicly-traded company and fourth largest video game producer in the world. The upcoming video game is apparently in “advanced-stages” of implementing an in-game shop for digital items that will register transactional data on the Ethereum blockchain. This would be the first time an in-game item shop would utilize a distributed ledger or blockchain to record transactions in a video game.

Read the full article from the Cryptonomist here.


Bitcoin Could be a Hedge Against Global Liquidity Risk

June 2019 – A new report from the digital asset manager Grayscale highlights bitcoin’s opportunity as a hedge against potential global liquidity risk. In their report, Grayscale notes that the bitcoin market benefitted substantially anytime mainstream financial markets faced macroeconomic or credit uncertainties. As an example, the report highlights the Brexit fears that took tolls on global markets through June 2016 and December 2016. This time period saw a rise in price of bitcoin, which posted 7.1% returns over that uncertain period. Over this same time period, the Euro dropped 2.4% and the pound by 8.1%. The MSCI World Price Index also dropped by 4.9% over this course of events. In addition, over August 2015 and December 2016, which saw economic concerns relating to China, the price of bitcoin appreciated 53.6%. Over the same time period, the Chinese yuan dropped by 5.7% and the Emerging Market Price Index declined by 22%. “While it is still very early in Bitcoin’s life cycle as an investable asset, we have identified evidence supporting the notion that it can serve as a hedge in a global liquidity crisis, particularly those that result in subsequent currency devaluations,” said the report.

Read the full report from Grayscale here.


3iQ Global Cryptoasset Fund: Price as at June 14, 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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Disclaimer

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

CHAIRMAN, CHIEF EXECUTIVE OFFICER & DIRECTOR

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.