More investors are recognizing the digital asset as a sensible alternative not only among crypto tokens, but also within a global financial context, the report said. Source
Bitcoin Is Poised to Reclaim Crypto’s Spotlight: Berenberg
Month: April 2023
‘ECB has no interest in users’ personal data’
As the various stakeholders within the European Union continue to research the potential of a single central bank digital currency (CBDC), the representatives of both private and public banking institutions share their opinion on the digital euro. In a fresh issue of the bi-annual Views Magazine, published in April, the topic of the digital euro received a heavy amount of attention from a number of speakers. Evelien Witlox, the program manager of digital euro at the European Central Bank (ECB), lays out three digital euro use cases prioritized by the…
Intel Sees Largest Quarterly Loss in Q1 2023, Revenue Down 36% YoY
According to the report, the company experienced a 133% annual reduction in its earnings per share for the quarter. Intel Corporation (NASDAQ: INTC) reported its largest quarterly loss in its Q1 2023 financial results. The company’s shares initially rose on the report, after which it fluctuated in extended trading sessions. At premarket trading, Intel is up 3.95% to $31.04 after closing up 2.79%. The semiconductor chip maker has recorded both gains and declines over the past year. It has shed more than 31% in the last twelve months and plunged 8.60%…
Revolut taps Koinly for automated cryptocurrency tax reports
As cryptocurrencies increasingly fall under the purview of global tax authorities, fintech Revolut has integrated an automated tax reporting service for its users. The digital financial services provider has partnered with cryptocurrency tax solution Koinly to allow users to generate cryptocurrency tax reports to work out gains and losses. Revolut users will be able to synchronize their cryptocurrency transaction history with Koinly to expedite tax calculations. Koinly’s global head of partnerships Jane McEvoy tells Cointelegraph that the partnership has been a work in progress since the start of 2023. The…
Hong Kong Monetary Authority Advises Banks to Offer Support to Crypto Firms
The push to support crypto is gaining traction in Hong Kong as some banks are already pledging support to the industry. The Hong Kong Monetary Authority (HKMA) is truly doubling down on its efforts to provide full support to the digital currency ecosystem with its recent circular to banks operating on the island. In the circular, the HKMA said banks should support exchanges or crypto platforms that have received the right license to operate in the country. The support will notably be extended to outfits with a “legitimate need for…
US Officials in Urgent Talks to Rescue First Republic Bank
In case of a scenario where the First Republic Bank fails, the FDIC will likely want to avoid systemic risk and offer insurance to all the bank’s depositors, even those not covered by insurance. The banking crisis unfolds further, with the US officials trying to coordinate with the private sector to reach an agreement on the future of First Republic Bank (NYSE: FRC) which is under scrutiny as a result of a loss of almost $72 billion in deposits within three months. Currently, representatives of the Federal Reserve, the Federal Deposit Insurance Corporation…
Analysts at odds over Fed, US debt ceiling impact on Bitcoin price
On April 26, House Republicans scarcely passed their bill to increase the U.S. debt ceiling. This led to analysts already weighing its potential impact on the price of Bitcoin (BTC), ranging from extremely bearish to overly bullish. Ultimately, U.S. dollar liquidity is the key to both of these opposing viewpoint. “Deflationary recession” to produce 2020-like BTC rally? Some analysts, including Jesse Meyers, the COO of investment firm Onramp, believe raising the debt ceiling would prompt the Federal Reserve to print more money, thus boosting capital inflows into “risky” assets like Bitcoin.…
MicroStrategy Is Uniquely Positioned to Benefit From Rising Bitcoin Price: Berenberg
The bank initiated coverage of the stock with a buy rating and a $430 price target, implying 40% potential upside. Source
Bank of America Strategist Predicts Gold Could Reach $2,500 per Ounce in 2023 – Bitcoin News
A Bank of America (BOFA) commodity strategist has postulated that gold, should it continue to flourish in 2023, could pave the way for a climb to $2,500 per ounce. Presently priced at $1,983 per unit, the precious metal remains just shy of the $2,000 threshold. However, if it were to achieve the projected $2,500 target, its value would need to rise by more than 26% against the U.S. dollar. ‘Non-Commercial Purchases Do Not Need to Increase Materially to Justify Gold Hitting $2,500,’ Says BOFA Commodity Strategist In 2023 thus far,…
46% of millennials across major economies own crypto: Bitget research
A new survey suggests that 46% of millennials across major population countries, such as the United States, China, Japan, Germany, Indonesia and Nigeria, own cryptocurrencies. The study, conducted between July 2022 and January 2023 and published on April 28 by cryptocurrency exchange Bitget, featured approximately 255,000 adult respondents from 26 countries, with around 10,000 respondents per country. The survey revealed that 46% of millennial respondents owned cryptocurrencies, compared with 25% of Gen X, 21% of Gen Z and 8% of baby boomers. The confidence interval for the study is 95%,…