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August 06, 2022

BlackRock to Offer Crypto for Institutional Investors Through Coinbase Prime

BlackRock, the world's biggest asset manager, has formed a partnership with publicly traded crypto exchange Coinbase to make crypto directly available to institutional investors.

Mutual customers of Coinbase and BlackRock's investment management platform, Aladdin, will have access to crypto trading, custody, prime brokerage and reporting capabilities, according to a blog post Thursday. "Our institutional clients are increasingly interested in gaining exposure to digital asset markets and are focused on how to efficiently manage the operational lifecycle of these assets," Joseph Chalom, global head of strategic ecosystem partnerships at BlackRock, said in the blog post.

Huge Traders Remain Super Bullish on Bitcoin Despite Crypto Carnage

Talk of a lengthy crypto winter has many investors fretting, so the bullishness among professionals with much at stake stands out. As with conventional markets such as stocks, though, crypto's path does probably hinge on whatever the Federal Reserve does with U.S. interest rates. And, indeed, Cumberland's clients took that view. "It's very striking that the most common response for both positive and negative catalysts is movement by the Fed," according to the report.

MicroStrategy's Saylor Says Stepping Down as CEO Will Let Him Focus More on Bitcoin

In an earnings call, Saylor stated that after stepping aside as CEO to become the firm's Executive Chairman, his focus would be on the firm's "corporate strategy and innovation efforts" and MicroStrategy's bitcoin strategy and related bitcoin advocacy and education initiatives.

Microstrategy Outperforms Every Asset Class and Big Tech Stock Since Adopting Bitcoin Strategy, Says CEO

Microstrategy (MSTR) has "outperformed every asset class and big tech stock" since the company adopted a bitcoin strategy and started accumulating the cryptocurrency in its corporate treasury, says CEO Michael Saylor. The pro-bitcoin executive will be stepping down as the CEO of Microstrategy and take the role of the company's executive chairman to focus on bitcoin.

Mastercard Views Crypto More as Asset Class Than Form of Payment

Mastercard sees cryptocurrency as more of an asset class than a means of payment, according to the payments giant's chief financial officer. Mastercard's crypto strategy "has been fairly successful ever since crypto environments came up," he added.

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Bitcoin, Stocks and Commodities Will Rally When Fed Is Forced To Pivot and Continue Money Printing: Coin Bureau

A popular crypto analyst is making a macroeconomic forecast to see what the future might hold for risk-on assets like Bitcoin (BTC).

In a new strategy session, the pseudonymous host of Coin Bureau known as Guy notes that periods of high inflation have historically lasted roughly three years, which could give hints as to when the financial landscape could change.

Here's What Bitcoin Institutional Inflows Says About The Month Of July

The price of bitcoin has had an eventful start to the month of August, and it doesn't look like it will be stopping anytime soon. Mostly, it is the residual effects of what happened in the markets during the month of July, where the price of bitcoin had actually broken above $24,000. In the same vein, the institutional inflows have a lot to say about bitcoin, especially when it comes to how big money is looking at the digital asset.

Bitcoin Wallet Inactive For 8 Years Carries 1,100 BTC

A retired Bitcoin miner has moved an enormous amount of acceptably 1,100 BTC from his wallet that has been dormant for the past eight years. Fortunately, these funds have had little impact on the market, but the rationale behind this transaction is more interesting.

The wallet received initial funds from nine wallets and went dormant for the past eight years, only returning to the industry today, sending 518 BTC and 587 BTC to addresses ending in "zvsd" and "r6YT," respectively.

Expert Predicts When Bitcoin Can Decouple From Stocks

According to Coinbase Institute Research, the crypto market and traditional financial market became increasingly correlated in 2020. Since the start of the pandemic, the crypto market saw exponential growth. During this time, it also became increasingly intertwined with the stock market.

According to Coinbase Research, the crypto assets share a very similar risk profile to oil and technology stocks. Bitcoin and Ethereum went from not being correlated with the stock market in 2019 to being strongly correlated in 2022, having a beta of 2. Beta is a measure of how strongly an asset is coupled with the stock market.

A beta of 2 means that when the stock market rises or falls, Bitcoin and Ethereum rise or fall by twice as much. Arcane research pointed out that while the tech-oriented NASDAQ fell by 22%, BTC dropped by 51% during the same period. Coinbase Research attributed two-thirds of the crypto prices fall during the bear market to larger macro-economic conditions. Only one-third of the fall was due to issues in the crypto industry.

Bitcoin and Ethereum Lack Enough Network Demand for the Rally to Continue

The data provider [Glassnode] refers to the current price surge as bearish impulses since Bitcoin active addresses continue to remain in a downtrend channel. Although there have been few activity spikes during the capitulation events, however, the broader network activity suggests that there is little influx of new demand as of now.