To start the review of the highlights of the week, it is important to note that the price of Bitcoin registered a fall. Settling at the $ 45,600 mark after surpassing $ 48,000 yesterday. The U-turn caused a more fragile mood for Sunday, with some slight losses in the session.
Now, analysts are betting on new historical peaks for Bitcoin. While they continue to expect altcoin opportunities to increase in the coming months, with a focus on DeFi tokens in particular. Despite the earlier recorded drop, the price of Bitcoin is $ 47,080 according to our internal tool, crypto online.
Mark Cuban issued a crypto warning
Investor and billionaire Mark Cuban issued crypto warnings to investors. As the price of Bitcoin continues to rise. Cuban drew a parallel between the growth of cryptocurrencies and the rise of e-commerce and the internet in general.
In the midst of this, investor Mark Cuban warned skeptics that “turning off this growth engine would be the equivalent of stopping e-commerce in 1995. Because people feared credit card fraud. Or regulate the creation of websites, because some people thought it was complicated and did not understand what it would mean.
Argentina could be evaluating the use of Bitcoin and cryptocurrencies for inflation
Another of the most outstanding news of the week is that, during an interview for a website, the president of Argentina, Alberto Fernández, said that it is necessary to give rise to a debate so that the country can be incorporated into the cryptocurrency ecosystem. Highlighting that it would be a viable option to cancel the inflationary effect. He also stressed that it would be necessary to find a specific way to regulate the market, since “it could be used for many abuses.” Which suggests that Argentina could be evaluating the use of cryptocurrencies.
On the other hand, Fernández said that his government “faces exchange rate pressures” that “many times” are “interested.” And he reiterated his criticism of Mauricio Macri’s management for the agreement with the IMF, which he called “incomprehensible” and “unforgivable.”
Wealth managers gain exposure to Bitcoin through Grayscale
The new documents presented Before the United States Securities and Exchange Commission, or SEC, they reveal that four wealth management companies have acquired shares of Grayscale’s Bitcoin Investment Trust. Which offers further evidence of institutional adoption of digital assets.
As initially reported by MacroScope, a Twitter feed dedicated to institutional trading and asset management, the companies disclosed their GBTC holdings in new documents for the period ending June 30, 2021.
Clear Perspective Advisors, an Illinois-based wealth manager, disclosed direct ownership of 7,790 GBTC shares on Friday. Major companies are finding new and diverse ways to gain exposure to Bitcoin and other virtual assets.
Binance withdraws user services from South Korea and Malaysia
Binance, the world’s largest cryptocurrency trading platform, notified this Friday that several of its products are no longer available to residents of South Korea and Malaysia.
In particular, operations with the currencies of those two countries, the Korean won (KRW) and the Malaysian ringgit (MYR), have been canceled. And access to P2P applications has been banned. Additionally, support for the Korean version of the website will be removed. The company explained that the changes in operation are based on the requirements of local regulators.
PNC Bank and Coinbase plan a cryptocurrency project
Major US banks as customers demand greater exposure to Bitcoin (BTC), the cryptocurrency market is breaking through.
According to what was revealed in the second quarter report of the crypto-asset exchange Coinbase, PNC Bank, the fifth largest bank in the United States in assets, has partnered with the platform to access bitcoin.
The document, released on August 10, indicates that many customers have selected Coinbase as their exclusive source of access to cryptocurrencies. “In recent months, we have formed partnerships with industry leaders, including Elon Musk, PNC Bank, SpaceX, Tesla, Third Point LLC and WisdomTree Investments,” they highlighted.
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