Again, last week was marked by a series of signals that showed the significant interest in entering the market of cryptocurrency by institutional investors. They carefully consider the pros and cons of such actions, acknowledging the possibility that some governments could influence the development of the market. At the same time, Wall Street keeps in check the development of public companies that have announced their plans or are already actively operating with peripheral or hardware solutions for the whole crypto field.
Stay informed with the development of the blockchain industry and the cryptocurrency market. Subscribe to our newsletter here.
Bitpay successfully rises 40 million dollars to expand in Asia
The largest cryptocurrency payment provider – BitPay, has successfully closed a Series B investor round, raising 40 million dollars. BitPay marked a record last year, processing more than 1 billion operations with cryptocurrencies. Initially, the round was planned to be 30 million, but it was increased by 30% due to the high interest demonstrated by fintech funds.
Bitpay offers the opportunity to accept cryptocurrencies since 2014. One of the early investors is Sir Richard Branson.
George Soros prepared to trade with cryptocurrencies
The macro fund of George Soros in New York has received an internal approval to trade with cryptocurrencies, but is yet to make a wager.
At the World Economic Forum in Davos a month ago, the 87-year-old George Soros called cryptocurrencies a “typical bubble”, but also clarified that the blockchain technology as their foundation could have a “successful application”. Soros has already invested in crypto indirectly.
His company became the third biggest investor in Overstock.com in the last trimester of last year. The e-commerce company is one of the biggest traders that accept digital currencies and it announced its plans to open an exchange for trading with cryptocurrencies and other digital assets. Recently, the stocks of the company sunk 40% after the Securities and Exchange Commission in the US announced that it is investigating its proposed development plans.
Nvidia: Cryptocurrencies are not going to disappear
In an interview for CNBC, Nvidia CEO Jensen Huang said that cryptocurrencies are not going to disappear soon, since the idea for cheap ways to transfer value will be an interesting one even in the distant future. Nvidia is the largest producer of GPUs that can be used for mining crypto. He also thinks that the technology will be a driving force for his field and will dictate the development of GPUs.
Recently, the stocks of the companies decreased. According to some, the company’s dependence on the development of the market is a risk. Nvidia, on the other hand, want to point out that a large part of its business comes from selling video cards for the gaming industry.
SEC Considers Rule Change to Allow Bitcoin ETFs (Investopedia)
The news and other materials, published here, are for educational purposes only and do not provide recommendations or suggestions related to making deals with cryptocurrency, crypto tokens, smart contracts or other products of the blockchain technology. The products of blockchain technology (cryptocurrency, crypto tokens, smart contracts and others) are not regulated or protected by the legislations of the EU or the Republic of Bulgaria at present. Deals with products of blockchain technology (cryptocurrency, crypto tokens, smart contracts and others) have a high degree of risk.