Hello and welcome cryptointerested! Following, some of the most relevant news regarding bitcoin, and crypto of the past few days
Federal Reserve Bank endorses BITCOIN as a true store of value:
So the president of the Federal Reserve Bank of Dallas, Robert Kaplan, says “I would differentiate between a cryptocurrency, like bitcoin, and the discussions that are being had about digital currency,” such as the digital yuan experiment in China".[1]
Furthermore hes saying "Emphasizing the differences between cryptocurrencies, like bitcoin, and central bank digital currencies, he said the latter “won’t necessarily be a store of value".[1] Kaplan thinks only the future will tell us how bitcoin will be adopted and used by the people.
The Fed is "studying bitcoin and other cryptocurrencies.”[1]
->So this is bullish in my opionen. Even the Fed is talking about crypto and particular about bitcoin as a legit store of value.
Bitcoin is going mainstream this year:
So another longtime value investor by the name of Bill Miller is telling us that bitcoin in 2021 is NOT a bubble and will keep rising in value as a matter of the technicals bitcoin underlines.
In his opinion “Supply of bitcoin is growing 2% a year and demand is growing faster. That’s all you really need to know, and that means it’s going higher,” said Miller".[2] Furthermore he is pointing out “Gold is about a $10 trillion asset category and bitcoin is $1 trillion, and it’s infinitely divisible or almost so,” Miller said. “It’s easily transportable and can be sent anywhere in the world if you have a smart phone so it’s a much better version, as a store of value, than gold.”[2]
->I think that he is right about comparing bitcoin and gold marketcap. And if this will work out well and people start adopting bitcoin and exchaning gold for bitcoin in their portfolio, there is a lot of room to grow in value the next years.
Venmo, a affiliated company of Paypal is implementing cryptocurrenies:
Key facts:
-Bitcoin, Ethereum, Litecoin and Bitcoin Cash.
-in app guides and videos to help learn more about crypto
- the whole rollout process will take "a few weeks"[3]
->So yet another paymentservice is implementing cryptocurrencies into its system. This is great, because this means mass adoption.
WeWork, the leading flexible space provider, is accepting crypto :
- WeWork will begin servicing a new economy by now accepting payment in select cryptocurrencies
- BTC, ETH, USDC. PAX and a few other cryptocurrencies
-"Coinbase will be the first WeWork member to use crypto to pay for its WeWork membership."[4]
-> adoption is going so fast these days
And by the way, the Number of Active Addresses using bitcoin is continously rising:
[5]
After all, this are a lot of bullish news indicating the mass adoption of bitcoin in the mainstream. I personally think 2021 will be a great year for bitcoin and crypto in general. There is only one way for bitcoin in the long term : moon. If you want more summarys of good news for bitcoin in the future let me know by leaving a like.
Great times we live in.
What do you think? Leave a comment below!
Thank you for your time
I have to state that I am not a financial advisor and and this article only reflects my own opinions and thoughts.
[1]: https://news.bitcoin.com/federal-reserve-bank-president-bitcoin-store-of-value/
[4] https://www.wework.com/ideas/newsroom-landing-page/newsroom/posts/wework-starts-utilizing-cryptocurrency-as-form-of-payment
[5]: https://studio.glassnode.com/metrics?a=BTC&m=addresses.ActiveCount
