Bitcoin News Wednesday, March 14 Investment trust, Digital currencies, Square shares & more…

Bitcoin News TLDR / Table of Contents

  • Four new trusts make it easier, says crypto investor Michael Sonnenshein.
  • Digital currencies are not like stocks and bonds and all the other things that you buy, Sonnenshein, managing director at Grayscale Investments, a digital currency investment firm, said Monday on CNBC’s Fast Money.
  • Recognizing that investors want exposure to digital currencies, Grayscale launched four new crypto funds: Bitcoin Cash Investment Trust, Ethereum Investment Trust, Litecoin Investment Trust and XRP Investment Trust.
  • Grayscale is the creator of the popular Bitcoin Investment Trust (GBTC), a way to invest in and trade the price moves of bitcoin without directly investing in the digital currency.
  • He said each fund operates as a trust on a rules-based methodology, where tokens are evaluated each quarter to see if they have fallen into the 70 percent target of the overall market cap in digital currencies.

Tags: Investment Trust, digital currencies, investor Michael Sonnenshein, XRP Investment Trust, digital currency investment

  • Square has a large untapped opportunity to offer cryptocurrency payment solutions for its customers, according to one Wall Street firm.
  • Nomura Instinet reiterated its buy rating on Square shares, citing merchants’ willingness to accept bitcoin for store payments.
  • Like Amazon in its early days, we believe that little of Square’s future revenue streams are currently visible, analyst Dan Dolev wrote in a note to clients Wednesday entitled SQ Survey: Merchants Say YES!
  • To Bitcoin.
  • The firm’s survey shows that 60% of the participating merchants (we note that we surveyed U.S. merchants only) would be willing to accept bitcoin in lieu of USD payment.

Tags: Square shares, large untapped opportunity, cryptocurrency payment solutions, Cash payment app, Square merchant customers

  • Bitcoin prices are in a bubble that will burst in the near future because the cryptocurrency has many inherent flaws, Allianz Global Investors said in a report.
  • It appears to us that bitcoin mania is a textbook-like bubble and one that is probably just about to burst, the asset manager’s head of global economics and strategy, Stefan Hofrichter, said in an online post distributed Friday.
  • Compared with other bubbles, bitcoin is almost off the charts – – The cryptocurrency ticks all of the boxes that we consider to be essential criteria of any asset bubble, including a fivefold surge in trading volumes over the last five years, lack of financial regulation and the launch of…
  • CME, the world’s largest futures exchange, and its competitor, Cboe, launched bitcoin futures in December, and more than 200 cryptofunds now exist for investing in bitcoin and other cryptocurrencies, according to financial research firm Autonomous Next.
  • However, like many business leaders and analysts from traditional financial institutions, Allianz’s Hofrichter said the blockchain technology behind bitcoin clearly has potential merits, such as lower costs on verifying transactions.

Tags: Allianz Global Investors, bitcoin, bitcoin price index, potentially fatal flaws, bitcoin futures

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