Bitcoin Lending, Stock Falls, BTC Reserves Stir The Crypto World: This Week In Crypto
The past week in the world of cryptocurrency was nothing short of eventful. From potential Bitcoin lending to significant stock falls and the legitimization of Bitcoin reserves, the crypto market has been buzzing with activity.
Here’s a quick recap of the top stories that made headlines.
Scaramucci’s Take On JPMorgan’s Bitcoin Lending
Founder of SkyBridge Capital, Anthony Scaramucci, shared his thoughts on the reported plan of JPMorgan Chase & Co. to allow clients to borrow against their Bitcoin holdings. Scaramucci described this move as a “big deal,” suggesting that it could significantly alter the financial dynamics of Bitcoin.
BitMine Stock Plummets After Shelf Offering
Shares of Bitmine Immersion Technologies Inc. took a nosedive in Monday’s after-market trading following the company’s filing for a shelf offering. The Ethereum-focused company saw a 15.1% drop in its stock after submitting a Form S-3ASR with the SEC.
Trump’s Bitcoin Reserve Legitimizes BTC
Coinbase Global Inc. CEO Brian Armstrong stated that President Donald Trump’s establishment of a Strategic Bitcoin Reserve has legitimized Bitcoin, prompting other G20 nations to consider building their own BTC reserves.
Pompliano’s View On Bitcoin As A Corporate Reserve Asset
Entrepreneur and investor Anthony Pompliano sparked a discussion on Bitcoin’s potential as a corporate reserve asset, describing it as a bet against the weakening U.S. dollar.
Ray Dalio’s Advice On Bitcoin And Gold Allocation
Billionaire investor Ray Dalio suggested a 15% portfolio allocation to Bitcoin or gold, citing concerns over increasing U.S. debt and potential currency devaluation risks.
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This story was generated using Benzinga Neuro and edited by Ananya Gairola
Photo courtesy: Shutterstock
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Posted-In: Cryptocurrency
