• bitcoin more popular gold Australia
    Cryptocurrencies

    Aussies prefer Bitcoin to gold

    A survey of over 2,000 Australian investors showed that more have invested in crypto assets than have in any precious metal

    Among the investors surveyed, 12.6% have invested in a crypto asset, while only 12.1% of them held an investment in any precious metal. About one third of those cryptocurrency buyers invested in digital assets for the first time following the March 2020 market crash that came with the beginning of the coronavirus pandemic, the report said. And, half of the new crypto buyers plan to become hodlers, with no intention of selling anytime soon.

  • JPMorgan Bitcoin $146K
    Bitcoin

    JPMorgan analysts: Bitcoin will reach $146K, but not soon

    The bank predicted that before heading beyond $146,000 Bitcoin would need to significantly decrease its volatility—a process it believes will take years

    To do that, it will need to continue attracting large institutional investors. And to do that, Bitcoin would have to become far less volatile than it is now. That’s already happening, the JPMorgan note pointed out, with an analyst suggesting that there’s “little doubt that the institutional flow impulse into Bitcoin is what distinguishes 2020 from 2017.”

  • Bitcoin is not a new type of money
    Cryptocurrencies,  United States

    NY Fed: Bitcoin is not a new type of money. Crypto: Get the tar and feathers!

    “Ignorance” and “incompetence” were two of the more polite replies after a blog post by the New York Federal Reserve Bank last week argued “Bitcoin is not a new type of money”

    When the Federal Reserve Bank of New York published a blog post with the headline “Bitcoin Is Not a New Type of Money,” the authors may have hoped their thought-provoking piece would inspire genteel, reasoned debate. But probably not.