According to MarketWatch, Ann Cairns, executive vice president of Mastercard, assures that volatility is a characteristic that prevents Bitcoin from being a payment instrument.
Volatility makes Bitcoin a poor payment instrument
The crypto community is quite tired of hearing the argument related to the volatility of Bitcoin. However, we have to continue listening to him.
This time it was the Vice President of Mastercard who assured that “Bitcoin does not behave as a payment instrument”. He also assured that the company is working hand in hand with various central banks to add stable currencies to its network.
In addition to volatility, Cairns cited long wait times as a weakness for Bitcoin for payment instrument. Therefore, the Mastercard VP finds it more appropriate to view Bitcoin as a store of value similar to gold.
Bitcoin ETF already has $ 624 million under management
The one being touted as Purpose Investments’ first Bitcoin ETF now has over 10,000 BTC in just one week.
According to the data of Glassnode, it seems that the demand for the Canadian Bitcoin ETF is high given that, in just the last 4 days, the fund has received more than 1,000 Bitcoins.
However, the data also reveal that the buying activity has been declining with the passing of the days.
Grayscale analyzes new cryptos for new investment products
Grayscale Investments issued a press release where it revealed a short list of possible cryptos to create new investment products.
Michael Sonnenshein, CEO of Grayscale, assured that the cryptos in question represent “Bold, exciting and innovative opportunities meeting our investor demand for differentiated exposure to this growing asset class”.
However, you do not plan to integrate all the cryptos on the list although you do want to diversify your products.
Crypto exchange Kraken targets $ 10 billion valuation
According to Bloomberg, Kraken is seeking a round of financing to expand its business and is aiming for a valuation above $ 10 billion.
Bloomberg cited anonymous sources, which, in fact, claim that the crypto exchange is already in talks with major investors.
Keep in mind that this valuation is more than five times higher than the crypto exchange’s previous fundraising round in 2019.
In a few lines …
- The FCA has published a detailed plan of how the UK will succeed in maintaining its status as one of the global hubs for fintech business and innovation.
- JPMorgan advised investors not to allocate more than 1% of their investment portfolio to the leading crypto.
- Crypto exchange 1inch announced that it will also start operating on Binance Smart Chain.