The crypto market has had a positive week with the total market cap once again heading north of the US$200bn mark and at the time of writing, Bitcoin (BTC) was trading at US$7,050.62 / GB£5,685.18; Ethereum (ETH) is at US$179.39 / GB£144.70; Ripple (XRP) is at US$0.1894 / GB£0.1520; Binance (BNB) is at US$15.78 / GB£12.75 and Cardano (ADA) is at US$0.03554 / GB£0.02871. Overall Market Cap is at US$204.92bn / GB£164.68bn (data source: www.CryptoCompare.com)
City AM’s Crypto Insider
Over the weekend I received an email from me dear friend Ranald Macdonald Founder of the Boisdale group of restaurants in London promoting an innovative way of getting in advanced revenue through the issuance of Boisdale ‘War Bonds’ which pay up to 100% dividend when redeemed after Victory Over Corona Day and for a year thereafter. The beautiful and colourful bond designs are based on the original British Second World War bonds and feature a photo of Sir Winston Churchill holding his hand in the famous hallmark V-sign salute which stands for defiance, hope, determination and victory. I have confirmed that the bonds can be paid in crypto! It was pretty auspicious timing as the notion of how governments around the world will fund the unprecedented costs incurred by their war on COVID-19 was formulating in my mind.
It seems inevitable that just as Ranald has created his Boisdale War Bonds, so too will Corona Bonds be issued. Obviously post-Brexit Britain will be left to do its own bidding whilst President Macron of France and Christine Lagarde of the IMF will be doing their level best to get the necessary Euro bloc support to issue European Corona Bonds. I caught up with Jonny Fry of Team Blockchain to discuss the potentially vital role blockchain could play. He informed me that in fact Italy has already announced that they are going to issue an inflation linked Corona Bond albeit without blockchain – are they missing a trick?
HSBC recently, having issued a…