For the first time in weeks,didn’t suffer any setback when the financial markets closed for the weekend. The proponents of the ‘Bitcoin safe-haven’ narrative might argue that the benchmark cryptocurrency has stopped following the global markets.
However, the likelier explanation perhaps would be that the stock markets did relatively well last week, which is probably why Bitcoin also stayed green over the weekend.
At the time fo publishing, the BTC price is hovering around $7,200 as it kicks off the new week.
Meanwhile, in other important news:
Institutional Investors Catching Bitcoin Fever Ahead of Halving
With Bitcoin’s next halving barely three weeks away, it looks like there is a growing influx of institutional investors diving into the asset class. Mega hedge fund Medallion of Renaissance Technologies is the latest to flock to trading Bitcoin.
Renaissance is a major New York-based hedge fund with some $75 billion in assets under management.
On a related note, Grayscale Investments recently published its Q1 Digital Asset Investment Report. The firm, often touted as one of the most trusted authority on cryptocurrency investing and digital asset management, revealed that it currently oversees $2.2 billion in AUM.
Ethereum 2.0 Could Be a Game-Changer
Partner at Metacartel Ventures, Adam Cochran, has taken a deep dive into the economic potential of Blockchain is a digital ledger that’s used for storing data on several servers across the world in a decentralized, trustless… More and how the next iteration of the platform could be a game-changer.
One possible reason is that large investors known as ‘rent-seekers’ may switch to Ethereum once Proof of work and proof of stake are both ways of achieving trustless and distributed consensus on the blockchain. Many… More is running. Stable returns of around 3-5% are being eyed by these types of investors due to the scale of…