BitcoinBites: 5 BTC stories you should know – November 3rd, 2021
Bitcoin closes month above $60,000 US for first time in history
During the week of Oct 25-31, BTC increased only slightly. However, while the magnitude of the movement was not significant, its shape was.
BTC validated the $59,000 area as support and created a long lower wick (green icon). This is a sign of buying pressure.
"We need to allow banks to hold Bitcoin," says US regulator FDIC
Jelena McWilliams, president of the Federal Deposit Insurance Corporation (FDIC), one of the top regulators, believes the time has come for banks to store cryptocurrencies, such as bitcoin, for themselves and their customers.
$73,000 US is a ‘reasonable’ price target for Bitcoin, say JP Morgan strategists
Many analysts have predicted that Bitcoin is set to hit $100k either by year-end or early next year. British bank Standard Chartered had also stated earlier that Bitcoin could surge to $100,000 in 2022, and could be worth more than $175,000 in the longer term.
Bitcoin (BTC) remains the preferred choice for Institutional Investment
Cryptocurrency asset management firms around the world saw record inflows in Bitcoin investment products during the last few weeks. The total value of global BTC assets under management now stands at around $53 billion.
Bitcoin products attracted $269 million worth of institutional inflows in the last week of October. Overall, digital asset investment products saw inflows worth $288 million in the mentioned period. During the latest bullish run, investors poured billions of dollars into crypto-related investment products, specifically Bitcoin.
Bitcoin adoption: Miami Mayor takes full paycheck in BTC
The mass adoption of Bitcoin continues these days, and the latest news shows how big things are getting. It’s been just revealed that Miami Mayor Francis Suarez committed to taking his next paycheck fully in Bitcoin.
He’s now the first known US politician who is making such a move.
Bitcoin Magazine noted that the mayor, who is a BTC bull and has been making massive efforts to integrate the network into his city’s operations. He just announced his intention to convert 100% of his next paycheck into Bitcoin on Twitter.
Bonus Bite: Thousands of Bitcoin ATMs to be installed across America
Bitcoin ATMs have the potential to help the king coin go mainstream. If that’s the case, one country is definitely in the lead. After all, the United States of America currently has the most Bitcoin ATMs/tellers in the world. Yet, a new partnership could soon bring thousands more.
The cryptocurrency company Bitcoin Latinum announced that it had partnered with OSO ATMs for three years to install crypto ATMs across the US.
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