17 December

“Bitcoin’s value has doubled in the past three months and the institutional-led rally looks sustainable.

Breaking above $20,000, which represented a significant hurdle in the mindset of most traders, is entirely new ground for bitcoin and opens the doors for a climb to $100,000 over the course of 2021, according to some.”

See Also: Guggenheim CIO Says Bitcoin ‘Should Be Worth’ $400,000
See Also: Bitcoin Smashes JPMorgan Market Cap 3 Years After Dimon Dissed Crypto
See Also: Binance and Coinbase suffer outages as Bitcoin’s price soars

Ether futures will be listed on Feb. 8, more than three years after bitcoin futures went live. Each contract will have 50 units of ether and the derivative product will be open to trade between 5:00 p.m. to 4:00 p.m CT from Sunday to Friday.

The new contracts will use the CME CF ether-dollar reference rate from CF Benchmarks, the FCA-approved crypto indices provider.

Today’s CME news shows institutional demand continues to spill into other leading digital assets, such as Ether.”

“Those institutional investors that Bitcoin fans have waited for so long? They’ve been here for months; on the day Bitcoin broke past $20,000, another whale just announced his arrival. And he’s not the only one.

Eric Peters, CEO of One River Asset Management, revealed today that his fund will soon have $1 billion in Bitcoin and Ethereum. Just yesterday, Ruffer LLP, a London-based investment firm, disclosed that it had allocated 2.5% of its assets under management to Bitcoin. That amounts to $744 million of Bitcoin.

There is going to be a generational allocation to this new asset class. The flows have only just begun.”

See Also: Ruffer Investment Confirms Massive Bitcoin Buy of $744M

A new survey of global fund managers reveals that Bitcoin has climbed in the rankings of “most crowded trade” beating out traditional investments like gold and bonds. Only tech stocks (52%) and short dollar positions (18%) ranked higher.

A related question asked respondents if they held Bitcoin long positions, to which 15% responded affirmatively, which is three times more than last month’s total of 5%.

In a year in which money printing and stimulus has triggered fears of massive inflation, the trend away from cash and into uncorrelated assets such as Bitcoin is clearly highlighted by the survey’s results.”

See Also: The Big Banks Riding Bitcoin’s Bull Run

“The German government cabinet passed new legislation on Wednesday allowing all-electronic securities to be recorded using blockchain technology. The new law does away with the previous requirement for a paper-based certificate and comes as part of the nation’s blockchain strategy.

The paper certificate may be dear to some for nostalgic reasons, but the future belongs to its electronic version.”

See Also: UK FCA Grants Crypto Firms Temporary Registration as It Deals With Applications Backlog

“The Lightning network has matured to a level where it can be used by Kraken. It really comes back to what our users are asking for. They want instant and efficient payment – the ability to deposit and withdraw bitcoin without having to wait for confirmations and without high withdraw fee withdrawals.

Two Lightning tech advancements in 2020, wumbo channels and multi-path payments (MPPs), paved the way for the integration. Wumbo channels allow users to send larger transactions on the Lighting Network that are larger than a few hundred dollars, while MPPs allow users to break up large payments into smaller amounts to make them easier to send.

The rollout will be an “API-first launch” with only withdrawals initially enabled. This launch will only be ‘the first of many iterative developments with the Lightning Network‘ for Kraken though, Rochard continued, adding that the exchange may even allow users to set up payment channels (Lightning’s transaction avenues) directly with the exchange.

The Lightning Network would lower transaction fees for users when depositing and withdrawing from the trading hub.”

“These companies are Tilray (TLRY), Canopy Growth Corporation (CGC), Aurora Cannabis (ACB), Cronos Group (CRON), and Aphria (APHA).

To be blunt, this is one of the dopest joint listings we’ve done. FTX: blazing a path forward and weeding out the competition.”

“According to a report by the Daily Beast on Tuesday, the White House Counsel’s office is reviewing Ulbricht’s case documents. Ulbricht is considered a cult hero amongst some in the crypto community as well as political activists who argue that his sentence was unnecessarily harsh.

A final decision on Ulbricht’s case has yet to be determined, according to the report, but the notorious Silk Road founder reportedly has influential backers within the president’s inner circles pushing for a pardon.

Ulbricht was the founder and main administrator of the dark web marketplace the Silk Road back in 2011 that used bitcoin (BTC, +9.65%) as its main payment method for dealing in illicit contraband including drugs and weapons.”

Melon V2: Decentralized Asset Management

“Malta’s Finance and Employment Minister, Clyde Caruana, has revealed that the nation’s plan to become a “blockchain island” is floundering due to the unwillingness of local banks to work with innovative firms.

Traditional banks have written off blockchain at its early stages.”

“Up to five people can now take part in an end-to-end encrypted video call.

I have been waiting for this for a very long time.”