@Today 11 February 2021 more from that month

Oldest American Bank BNY Mellon to Custody Bitcoin for Its Institutional Clients Bank of New York To Hold Bitcoin The New York oldest bank stated in The Wall Street Journal today that it will hold, issue, and transfer Bitcoin (BTC) and other cryptocurrencies on behalf of its institutional clients. According to the report, the bank will not handle its crypto offerings any different from other traditional asset classes, such as stocks. Notably, the bank is already in talks with its clients to bring their crypto holdings to its platform. Digital currencies became increasingly popular among institutional clients late last year when the world economies were affected by the deadly coronavirus (COVID-19) pandemic. Like several other assets, cryptocurrencies were also affected by the virus, which saw the largest cryptocurrency by market capitalization Bitcoin trade below $4,000 in March 2020. Since then, Bitcoin has developed resistance to the virus and has become amongst the preferred investment choices for most institutional players.