Cryptocurrencies

• [New] In the year 2021, you should expect many central banks in the world to start adopting digital currencies.
• [New] The CFTC will continue its fraud enforcement in the cryptocurrency space - Expect to see even more focus on digital assets fraud over the coming year.
• [New] Biden's proposed relief package, at $1.9 trillion, is expected to boost investor demand for real assets, including gold, Bitcoin and Ethereum.
• [New] Bitcoin has a reducing rate of inflation, and as soon as the last bitcoin is mined in 2140, the rate of inflation will reach zero.
• [New] The growth of crypto asset and cryptocurrency mechanisms has expanded considerably in the last three years leading to an increased risk of money laundering.
• [New] JPMorgan predicts bitcoin price could rise over $146K in long term, while seeing signs of speculative mania in short term.
• [New] Most large private banks have paid little attention to Bitcoin as a non-serious asset, but their high-net-worth and family office customer base are increasingly asking for cryptocurrencies, so private banks will create relevant offerings for their noble clientele in 2021.
• [New] While the large investment banks have been the most active players so far, it is to be expected for 2021 that private banks in particular will increasingly enter the Bitcoin and cryptocurrency derivatives business.
• [New] The number of cyber-attacks against organizations and businesses in the cryptocurrency industry will surge again in the first months of 2021 due to a new increase in the value of currencies such as Bitcoin.
• [New] PayPal announced recently that its 350 million users could deposit bitcoin and other cryptocurrencies in their accounts and spend it at 26 million merchants beginning in 2021.
• Financial institutions have been reassesing their stance on the 'digital gold', with JPMorgan predicting that Bitcoin could be worth as much as $146,000.
• The new demand over the coming years will propel Bitcoin to become the next world reserve currency.
• Given the recent adoption of Bitcoin by financial institutions such as PayPal and Square, it is reasonable to say that 2021 will be the year that Bitcoin legitimizes itself as a main player in the digital financial industry.
• Bitcoin will overtake the dollar in importance as it becomes the single global currency of the internet within a decade.
• Most analysts have predicted a dramatic rise in blockchain adoption beyond cryptocurrency in 2020, helped by new offerings such as the AWS blockchain service.
• Digital currency bitcoin has emerged as a rival to gold and could trade as high as US$146,000 (C$185,223) if it becomes established as a safe-haven asset.
• Digital currency bitcoin has emerged as a rival to gold and could trade as high as $146,000 if it becomes established as a safe-haven asset.
• Gold and bitcoin could continue to rise as governments and central banks are unlikely to slow or halt liquidity-boosting programs launched in 2020 to counter the coronavirus-induced recession.
• The world's CO2 levels hit new highs last year, a trend that is expected to repeat itself in 2020 despite coronavirus-related lockdowns that have forced a global industrial slowdown.
• From 2021, PayPal plans to allow its users in the US to pay with bitcoin.
• MicroStrategy raised $650 million to buy more bitcoin, expected to take its holdings to over $1 billion, triggering a fresh wave of bullishness among crypto investors.

Last updated: 24 January 2021