Factbox| Bitcoin’s march to the mainstream gathers pace
march to the mainstream gathers pace

LONDON (Reuters) – Bitcoin hit a record high just shy of $65,000 last week, the latest landmark on the emerging asset’s march to wider acceptance. Its gains have been fuelled by growing acceptance among major U.S. companies and financial firms.

Here are some steps from big companies, large investors, banks and payment processors that have pushed bitcoin closer to the mainstream in recent months:

INVESTMENT

Dec. 2020:

* British fund manager Ruffer Investment Management says it made a bet on bitcoin worth in December around 550 million pounds ($765 million).

Jan. 2021:

* Investment bank JPMorgan Chase & Co says bitcoin could hit $146,000 if it becomes an established safe-haven.

Feb. 2021:

* Carmaker Tesla Inc announces it bought $1.5 billion in bitcoin and says it will soon accept the cryptocurrency as payment for its vehicles.

March 2021:

* Morgan Stanley becomes the first big U.S. bank to offer its wealth management clients access to bitcoin funds, CNBC reported.

* Goldman Sachs Group Inc reopens its crypto trading desk and says it will offer investments in bitcoin and other digital assets to its wealth management clients from the second quarter.

* Daniel Loeb’s hedge fund Third Point uses as a custodian cryptocurrency exchange Coinbase Global Inc, a regulatory filing shows https://sec.report/AdviserInfo/Firms/137927/Form-ADV-137927.pdf.

April 2021:

* Inflows into cryptocurrency funds and products hit a record $4.5 billion in the first quarter, according to asset manager CoinShares.

* UK-based hedge fund Brevan Howard sets up a new fund to invest in digital assets, focusing on a long-only range of digital assets including bitcoin, according to a personal familiar with the matter.

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  • U.S. digital currency trade Coinbase Global Inc was esteemed at $86 billion toward the finish of its Nasdaq debut, the greatest posting yet by a crypto organization.
  • U.S. business programming firm MicroStrategy, a significant financial backer in cryptographic money since 2020, says it presently holds 91,579 bitcoin.
Factbox Bitcoin’s march to the mainstream gathers pace
Factbox Bitcoin’s march to the mainstream gathers pace

Acknowledgment

Feb. 2021:

  • Mastercard divulges plans to help digital currency installments across its organization.
  • BNY Mellon declares another unit pointed toward assisting customers with exchanging and own cryptographic forms of money and other computerized resources.
  • The city of Miami votes for a proposition to permit bitcoin to be utilized to pay city laborers and for city occupants and organizations to make charge and assessment installments with the cryptographic money.
  • Canada’s primary protections controller gets the dispatch free from the Purpose Bitcoin ETF, the world’s first bitcoin trade exchanged asset.

Walk 2021:

  • Payments processor PayPal permits U.S. shoppers to utilize their digital currency property to pay at a great many its online dealers worldwide.
  • Tesla Inc clients would now be able to purchase its electric vehicles with bitcoin, its manager Elon Musk says.

April 2021:

  • Swiss arm of French back up plan AXA permits its clients to pay https://www.axa.ch/en/ueber-axa/blog/pattern/bitcoin-cryptocurrency%20.html for non-disaster protection items with bitcoin.

($1 = 0.7186 pounds)

(Arranged by Tom Wilson and Tom Westbrook. Altering by Mark Potter)

Source:Thestar

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