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June 25 15:17

CryptoNews of the Week

- Deutsche Bank spoke about the possible future of bitcoin. According to the experts of this regulator, the situation with cryptocurrencies may change significantly in the next 10 years, while there are two scenarios. The first is, digital assets will become even more popular against the backdrop of the impact of the COVID-19 pandemic on the financial industry and many other external factors. And the second one is apocalyptic, in which the electronics on the planet at some point will seriously suffer from solar flares, which makes the use of bitcoin simply impossible, because, unlike fiat money, it cannot be used without additional devices and energy consumption.
- 20 thousand outlets in the USA began to accept bitcoin when paying for goods through LibertyX terminals. Until July 31, the company will not charge a transaction fee, later its amount will be slightly less than $5 for each BTC coin. Also, it will be possible to pay for purchases directly from a cryptocurrency wallet in many chain stores. The head of LibertyX, Chris Im, said that the ability to make payments with digital assets will also appear in smaller retail outlets in the future. In addition, you can now buy cryptocurrencies worth up to $500 at LibertyX ATMs. This digital asset rollout program has been called “Bitcoin for Every Quarter”.
- The role of millennials in the future of the cryptocurrency industry is noted by many experts. At the end of last year, the American brokerage company Charles Schwab said that this age group invests in bitcoin more often than in Netflix and Microsoft. Over the past three years, the younger generation has come to trust bitcoin more than global banks like Wells Fargo, JPMorgan and Goldman Sachs. This is evidenced by a study conducted by Tokenist in 17 countries involving 4,852 respondents between the ages of 18 and 65. According to the results, 51% of the millennials preferred the leading cryptocurrency. Among older generations, this figure was lower, due to which the overall level of confidence in bitcoin was 47%, which is 29% more than in 2017. 24% of millennials consider bitcoin a soap bubble, among the age group of 65 this indicator reached 50%. At the same time, more than 45% of respondents prefer BTC to traditional assets: securities, real estate and gold. 78% of millennials are familiar with bitcoin, 14% have owned it.
- According to the Cointelegraph agency, a resident of Spain received the rights to the logo and name of bitcoin in the Patent and Trademark Office of this country. It was a local businessman engaged in cryptocurrency exchange. He refused to disclose his identity to reporters but spoke about the reasons for this step. "I am not a fake Satoshi; I just registered the rights to own and use the logo and the word. And if someone uses them incorrectly, I will stand up for them," the entrepreneur said, adding that he does not intend to prevent others from working with bitcoin, provided that they are honest people, and not scammers.
Recall that the Bitcoin trademark was registered in Russia in April 2016. In 2018, the British company A.B.C.IPHoldings South West LLC. acquired the rights to the same brand - In May 2019, the copyright for this coin was registered by a Chinese woman, Wei Liu, and Craig Wright, who calls himself the Creator of the main cryptocurrency, since August 2017, has filed more than 150 patent applications with various authorities mentioning cryptocurrencies and blockchain technology.
- The head of the Galaxy Digital crypto trading bank, Mike Novogratz, predicted the timing of a new bitcoin rally in an interview with CoinDesk. The billionaire is convinced that the arrival of major players is necessary for a new round in the development of the industry and admitted that he was in a hurry trying to attract institutions to the digital asset market three years ago. However, now, in his opinion, an excellent moment has come for a new attempt: “It took more time than expected, but intuition tells me that in the next 6 to 24 months we will have great [institutional] progress.” The businessman called the measures taken by the US Federal Reserve to support the economy as another factor influencing the price of bitcoin: “Within the week after the crisis began, the Fed printed more dollars than for the entire period 2008-2009. My mother used to tell me that money doesn't grow on trees, but that's what's happening right now.
- The PayPal payment system plans to implement the possibility of buying and selling cryptocurrencies for 325 million of its users. At the moment, this payment system can only be used as a way to withdraw money from crypto exchanges. An informed source said that the launch of the service could take place within the next three months: “As far as I understand, they intend to allow buying and selling cryptocurrency directly in PayPal and Venmo. There will be some functionality of the built-in wallet so that it can be stored.” Coinbase and Bitstamp are mentioned as likely partners of PayPal, and it is not yet known which cryptocurrencies can be added to the service.
- A small independent film company Substantial Films is making a film "Decrypted" about the cryptocurrency and the mysterious bitcoin creator Satoshi Nakamoto. According to the description, it will be "a scandalous and provocative black comedy about a team of the US National Security Agency that kidnaps Satoshi Nakamoto and tries to get information from him necessary to destroy cryptocurrencies." The film is scheduled for release later this year.
- Experts of the US analytical company Weiss Ratings have come to the conclusion that the main cryptocurrency will rise to $180,000. The company believes that the entry of billionaire hedge fund manager Paul Tudor Jones into the BTC futures market shows that institutions are paying increasing attention to cryptocurrency markets. This is because bitcoin has become "one of the safe haven assets with the greatest profit potential," especially since central banks print fiat money non-stop. According to Weiss Ratings experts, bitcoin is much better than gold in terms of security, mobility and utility, and “if bitcoin takes at least a third of gold's share, it will trade about $180,000, that is about 20 times the current levels.”