Surging prices, anticipation, and steady coin interest round out today’s headlines
Raoul Pal’s Real Vision Invests 10% of their Treasury in Bitcoin
Companies are hungry. They are sensing an opportunity, and Real Vision is the latest. The Financial TV company is now the latest firm to invest 10 percent of their cash reserves in Bitcoin.
According to its CEO, Raoul Pal, their purchase was made three months ago. That’s when the uptrend for the Bitcoin price was getting started.
NEW: Financial TV company Real Vision invested 10% of its cash holdings in #Bitcoin three months ago, says CEO @RaoulGMI
— Bloqport (@Bloqport) December 3, 2020
At the time of writing, BTC prices have nearly doubled perhaps meaning Real Vision’s share has doubled, a decent profit as a result. Real Vision’s share has doubled, a decent profit as a result. Raoul claims they are a cash-generating company. Mopping up the excess cash and investing it in a digital asset that can explode to $1 million is prudent.
Raoul Pal CEO of Real Vision called for Bitcoin to hit $1million by 2025. If Raoul was not so credible I would not pay much attention to predictions. He also calls for Gold to hit $5000 in the same period. Good news for Gold Silver Bitcoin. Bad news for world economy. Take care.
— therealkiyosaki (@theRealKiyosaki) November 27, 2020
With Coronavirus–and having been exposed to the harsh realities of the financial crisis once in Spain, Bitcoin may end up performing better than other assets.
Visa is integrating the USDC Stablecoin after Partnership
As per a Forbes report, Visa will be integrating USDC. It is one of the most popular stablecoins—digital currencies pegged against the USD—after USDT and minted by Circle.
The credit card giant won’t custody the token but instead will allow its merchants—over 60 million, to send and receive value beginning next year once they graduate from Circle’s Fast Track program.
All transactions will be done straight on the Ethereum blockchain meaning the global payment processor is by-passing banks for a transparent layer.
Already, Visa has on-boarded 25 cryptocurrency wallet providers under the Fast Track Program. Each can now pilot the integration of USDC for businesses.
A Bill in the US Forwarded to Regulate Stable coin issuance
Unless approved by US regulators, private entities will be barred from issuing stablecoins. It will be the case should a proposal by Representatives Rashida Tlaib, Jesús “Chuy” García, and Stephen Lynch pass.
Under the Stablecoin Tethering and Bank Licensing Enforcement (STABLE) Act. STABLE Act, private stablecoin issuers will be regulated like banks.
Accordingly, they will have to be chartered, receive approval from the Federal Reserve, be FDIC-insured, and have all the required licenses before proceeding.
Stablecoins are conduits into cryptocurrencies. They are shields during market turbulence. USDT, issued by Tether Limited, is the fourth largest cryptocurrency with a market cap of $9.9 billion.