Could The Inclusion Of Bitcoin For Traditional Asset Managers Cause The Price To Skyrocket?
Currently, Bitcoin is an extremely erratic financial instrument. Its price has fluctuated a lot throughout the years, and price fluctuations are common. The absence of regulation, inadequate security, and the fact that cryptocurrencies are not supported by a real economy are some of the reasons why the market has grown so volatile recently.
We need to examine what conventional asset managers do in order to get why Bitcoin can be beneficial for them. On behalf of their customers, they are in charge of managing assets like stocks, bonds, and commodities. This implies that these businesses will be in charge of overseeing these assets to make sure they are repaid when it's due. This implies that an investor will have to pay someone else to handle these assets on their behalf if they want to invest in something like gold. To ensure they are reimbursed as quickly as possible, they need information regarding the history of these assets in order to carry out this task efficiently. To determine if it makes sense for them to invest in an asset at all or whether they should wait until after further investigation, they also need to know how much risk is involved with each kind of asset.
The price of Bitcoin Cash, Stacks, Neo, Solana, and Stellar lumens dropped on Wednesday.
The recent surge in oil prices has led many economists to expect that the Federal Reserve will hike interest rates by another 0.25% this month. A significant number of analysts believe that the bank could also hike rates by another 0.25% in September.
Franklin Templeton's Bitcoin ETF application follows a series of notable developments in the cryptocurrency ETF space. In late August, the SEC opted to delay its decisions regarding spot ETF applications from several other companies, including WisdomTree, Valkyrie, Fidelity, VanEck, Bitwise and Invesco. In their application, Franklin Templeton outlines the structure of the proposed fund:
As per an analysis posted on TradingView on September 5 by TradersWeekly, caution should be observed when assessing Bitcoin’s price. The analysts noted that despite a brief period of stability over the long weekend, BTC price largely remained flat, hovering around the $26,000 mark, a notable area of concern.
On Sept. 5, Marathon Digital Holdings reported that the company’s production surpassed 1,072 Bitcoin in August. The figure is five times higher than in August 2022 and 1/5 below its previous highest weekly production figure at 1,745 Bitcoin in July 2016.
Bitcoin Cash, Stacks, NEO, Solana and Stellar lumens price declined as the Australian dollar firmed.
CoinEx was hacked, with assets worth nearly $28 million stolen. The company halted deposits and withdrawals on its official website. This is all the information we have at the moment, but we'll update this article if we hear more.
The benefits of being a Bitcoin investor are many. They include the ability to purchase cryptocurrencies with a few mouse clicks, as well as invest in assets with a level of privacy that’s otherwise only possible through hard cash (as well as numerous other advantages).
The Securities and Exchange Commission (SEC) is currently reviewing several Bitcoin ETF proposals that have been submitted to the regulator. Â Many of these proposals have been on hold since August, with the SEC leaving many in limbo as they await further guidance regarding Bitcoin's status as a security or commodity.
The new policy applies to games that are based on blockchain technology and that allow players to stake or wager NFTs against each other, possibly in real-time. The new policy affects only the advertising of “items†that are consumable, used in a game to enhance your experience, or aid the user in advancing the game. It does not affect social betting paradigms that permit users to gamble or play for real-world prizes like NFTs, cash, or cryptocurrencies.