Bitcoin cannot be compared to gold, and Morgan Stanley may acquire a stake in Bithumb

CoinShares believes that bitcoin cannot be compared to gold

According to Demirors, the network will allow unleashing the full potential of the BTC blockchain, on the basis of which existing dApps can work and new ones develop. It is for this reason that bitcoin should not be considered “digital gold”.

“Gold is a shiny stone, which is not the case with Bitcoin. Bitcoin is not a stone. All we do with gold today is we take bars and shove them in a vault. The point of Bitcoin is not to take it and shove it in a vault. What we’re going through with Bitcoin is sort of this exploration of what else is possible,” said the Chief Strategy Officer at CoinShares.

Morgan Stanley may acquire a stake in Bithumb

In 2020, Bithumb came to the attention of regulators and the South Korean police. Several searches were carried out in the offices of the exchange, after which information emerged that the owners of the platform were searching for buyers of Bithumb.

Also, the media previously wrote that the parent company of the game developer Nexon could acquire the crypto exchange, but due to “slow and difficult” negotiations, the deal did not take place. Later it was reported that JP Morgan and CME Group are considering the option of acquiring control over Bithumb.

Deutsche Bank analysts consider BTC “too important to ignore”

One of the latest reports from Deutsche Bank says that the capitalization of the first cryptocurrency is 102% yen in circulation, 65% euros, 53% dollars and 904% pounds.

And the daily circulating BTC is 0.05% of the yen and 0.06% of the volume of pounds.

Analysts estimate the share of payment transactions using BTC at less than 30%. The remaining 70% are financial investments. Deutsche Bank believes that several large transactions can significantly affect the supply and demand of the first cryptocurrency.

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