August 18 – August 25, 2020 | Companies Converting Cash to BTC, Strongest Bitcoin Holding Sentiment in Two Years, and More

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

Canadian Company Now Holds Bitcoin as a Reserve Asset

August 24 – Following Microstrategy’s (NASDAQ:MSTR) investment in bitcoin as part of their capital allocation strategy, the Ottawa-based company  Snappa declares that they will be putting 40% of their cash reserves into bitcoin as a safe haven asset.

Read the full article here.
Federal Reserve Bank of Boston is Evaluating Over 30 Blockchain Networks

August 24 – The Federal Reserve Bank of Boston, which operates under the U.S. central bank, is evaluating over 30 blockchain networks to determine if they would support a digital dollar. This follows news released earlier this month that reported that the Boston Fed is actively testing a tokenized version of the U.S. dollar, and examining how it might complement the existing greenback.

Read the full article here.
Bitcoin and Facebook-backed Libra Still Significant Despite Looming Central Bank Digital Currencies

August 20 – According to the former Reserve Bank of India governor, Raghuram Rajan, bitcoin and Facebook-backed Libra could play a significant role if global central banks begin to issue their own digital currencies. Although bitcoin and Libra have their critics, with regards to their respective decentralized and centralized approaches, both could become significant competitors to central banks.

Read the full article here.
Restaurant Chain in Canada Converts Entire Cash Reserves to Bitcoin

August 20 – The Middle Eastern restaurant chain Tahini’s has announced that they have exchanged their entire cash reserves for bitcoin. The switch to a digital currency reserve originated following the March crash, when the Canadian government declared various emergency response benefits which could devalue the dollar.

Read the full article here.
Strongest Bitcoin Holding Sentiment Since 2018

August 18 – According to data estimates from Glassnode, Bitcoin exchange reserves have decreased to their lowest levels since November 24, 2018 – a strong indication that investors are feeling bullish about the price development in the market.

Read the full article here.

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Fred Pye

Frederick T. Pye

CHAIRMAN, CHIEF EXECUTIVE OFFICER & DIRECTOR

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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.