Global banking institutions have been expressing more interest in Bitcoin (BTC) as the cryptocurrency consistently breaks new all-time highs, according to a new report. Tom Robinson, co-founder of major British crypto firm Elliptic, told The Telegraph on Wednesday that his company saw a massive surge in Bitcoin-related inquiries from global banks. The executive noted a wave of Bitcoin-associated demand from United States-based banking institutions over the past two months. According to Robinson, several financial institutions in the U.S. “are seriously considering launching some type of cryptocurrency service.” British banks were the most reserved in terms of the demand’s uptick, the …

A small scale study of financial executives has found that 5% of companies intend to invest in Bitcoin (BTC) as a corporate asset this year, with a further 11% stating they could do so by 2024. The survey conducted by Gartner comes on the back of news that Tesla invested 8%, or $1.5 billion of its cash reserve, into Bitcoin. MicroStrategy Inc. who has also invested large sums into the token announced a $600 million convertible bond offering Tuesday with the intent of using the proceeds to acquire additional Bitcoins. The 77 respondents, including 50 CFOs among other executives, showed …

Major U.S. investment bank JPMorgan Chase will eventually have to get involved in Bitcoin (BTC), co-president Daniel Pinto believes. The executive told CNBC Friday that JPMorgan’s decision to introduce Bitcoin services would depend on the client demand to trade Bitcoin. Although the current demand is not strong enough, Pinto is confident that it could grow further: “If over time an asset class develops that is going to be used by different asset managers and investors, we will have to be involved [...] The demand isn’t there yet, but I’m sure it will be at some point.” Pinto’s latest remarks follow …

Miami Mayor Francis Suarez has proposed an official resolution that would see Bitcoin (BTC) become an acceptable payment instrument in various parts of the city's administration. Announcing the news on Twitter, the Mayor said that the city commission has supported the resolution, and is now taking next steps: “I wanna thank the city of Miami commissioners for supporting my resolution, which directs a city manager after analysis to procure a vendor to be able to offer our employees to get a percentage of their salary in Bitcoin; allows our residents to pay for fees in Bitcoin.” The resolution would also …

American e-commerce giant Amazon is developing a new service that will allow its customers to shop using digital currency, according to the company’s job postings. According to an official job application on Amazon, the company is now building a tech team to enable a new digital currency service. Currently known as a “Digital and Emerging Payments,” or DEP, project, the service will initially roll out in Mexico, allowing local people to buy crypto with cash to spend digital currency while shopping. The job posting reads: “We are looking for a leader to help us launch a new payment product starting …

Strategists at JPMorgan Chase, one of the largest investment banks in the United States, believe that Tesla’s $1.5 billion Bitcoin (BTC) purchase will not necessarily trigger a ton of similar investments. A group of JPMorgan strategists led by Nikolaos Panigirtzoglou reportedly argued that Bitcoin’s highly volatile nature could keep mainstream corporate treasurers away from Bitcoin. “The main issue with the idea that mainstream corporate treasurers will follow the example of Tesla is the volatility of Bitcoin,” the strategists wrote in a note to investors, Bloomberg reported Tuesday. According to JPMorgan, even a small portion of Bitcoin in corporate treasures’ portfolios …

Bitcoin (BTC) is likely to hit $60,000 in 2021 amid the growing mainstream adoption, according to an analyst at major financial publication Investing.com. Jesse Cohen, a senior financial analyst at Investing.com, predicted that Bitcoin will likely reach a $60,000 level in the first half of 2021. According to Cohen, Bitcoin’s growth in 2021 will be fueled by support from institutional investors combined with the “flush of ultra-cheap money being pumped into the global financial system” by global central banks like the United States’ Federal Reserve: “After a record-breaking year in 2020 that saw it jump more than 300%, Bitcoin looks …

Gene Simmons, a rock and roll legend and a known fan of cryptocurrencies like Bitcoin (BTC), has reaffirmed his bullish stance on crypto by purchasing several cryptos. The Kiss frontman said on Feb. 1 that he now owns several cryptocurrencies including XRP and Dogecoin (DOGE). Simmons did not hint at how much he invested and noted that his statement is not a recommendation. Not recommending any of these to anyone. But yes, I also bought Dogecoin, XRP and others. Make of it what you will. — Gene Simmons (@genesimmons) February 1, 2021 Simmons claimed that he has also bought and …

Older generations have started recognizing the potential of cryptocurrencies and blockchain in global payment systems, a new survey says. On Jan. 21, digital payment platform Wirex released a special report devoted to the topic of cryptocurrency adoption in 2021. Compiled in partnership with the Stellar Development Foundation, the report includes survey results from 3,834 people across 89 countries, aiming to understand the latest trends in the global adoption of blockchain-powered digital payments. The survey was conducted over the course of three weeks, with both Wirex and the SDF sending out emails asking for voluntary participation in a survey related to …

Similar to 2017 and the popular cryptocurrency bull run, last year created a fresh buzz in the world of crypto and Bitcoin (BTC) particularly. From setting new all-time highs to making various news rounds and capturing mainstream finance’s attention, the pandemic year was exciting for cryptocurrency enthusiasts and believers. Related: Did Bitcoin prove itself to be a reliable store of value in 2020? Experts answer One conversation that perhaps stands out amid the buzz is institutional investors’ increasing activity in crypto. Companies, financial advisers and institutions that mocked Bitcoin five years ago, or during the Silk Road saga, are now …

Famous for its volatility, Bitcoin’s price constantly waffles both north and south. While it recovered quickly from its pandemic-induced drop in March 2020, going on to break record highs, that doesn't mean the asset is bulletproof against a similar event in the future. The director of business development for smart chain platform Komodo, Jason Brown, recently weighed in on what could possibly cause another COVID-19-style price decline for Bitcoin (BTC). “I think such a scenario is unlikely given the current uptrend in institutional adoption,” Brown told Cointelegraph. “On the other hand, we couldn’t have predicted that COVID would have caused …

Famous investor and Berkshire Hathaway CEO Warren Buffet called Bitcoin "probably rat poison squared" back in 2018. In his 2020 fourth-quarter market letter, financial analyst Bill Miller agreed with Buffett’s description of the asset — but not without his own addendum. “Warren Buffett famously called bitcoin ‘rat poison,’” Miller said in his Saturday letter, adding: “He may well be right. Bitcoin could be rat poison, and the rat could be cash.” Miller started his letter by explaining how each new year often paves the way for various financial predictions. Financial expectations and projections can be worthless, however, as proven by …