Quote of the week: “So unless the US government bans Bitcoin next year, Bitcoin has already had some of the negative catalysts play out. So I think Bitcoin could do really well. Now, in terms of percentage upside, again I’m kind of disappointed. It didn’t reach $100,000 this year, but I think next year, you know, easily getting to the $100,000, but let’s say that it should have been $100,000 this year.” – Thomas Lee, Co-Founder, Managing Partner, and the Head of Research at Fundstrat Global Advisors. Source: https://www.cryptoglobe.com/
Robinhood to Launch Crypto Wallets: Robinhood plans to roll out the beta version of its digital wallet feature in January of 2022. There are more than 1.6 million users on the waitlist for the Robinhood crypto wallet. According to the CEO of Robinhood, the beta rollout will address security measures for users and will help educate users on cryptocurrency transactions. Source: https://cointelegraph.
Bitcoin 2021 Overview: Although Bitcoin is trading at around $47,162 and may be down over 30% from its record high of $69,000, it still holds the title of one of the best performing financial assets of 2021. In fact, for the third consecutive year, Bitcoin has outperformed the S&P 500 and gold. In its report, Arcane research noted that Bitcoin’s year-to-date performance was approximately 73%, while the S&P 500 index surged 28% and gold decreased by 7%.
Voyager Digital Target of Proposed Class Action Lawsuit: Voyager Digital Ltd. faces a proposed class-action lawsuit over hidden transaction fees. The plaintiffs of the lawsuit allege that Voyager Digital Ltd. misled customers when it advertised its trades as “100% commission-free.” The suit was filed on December 24 in federal court in Miami, Florida. Source: https://finance.yahoo.com/
SEC Chairman Gary Gensler Hires a Senior Cryptocurrency Advisor: SEC Chairman Gary Gensler has hired Corey Frayer to focus on cryptocurrency policymaking and interagency work. Frayer spent a decade working as a senior adviser to members of Congress and was a senior staffer on the United States Senate Committee on Banking, Housing, and Urban Affairs. This appointment signals that the SEC may increase its efforts to regulate the cryptocurrency industry in 2022. Source: https://finance.yahoo.
Crypto Adoption Featuring Turkey: The Turkish Lira’s value decreased by 40% this year after a year of economic instability and turbulence. Retail investors are now racing to adopt cryptocurrencies in a desperate attempt to protect their savings. The president of Turkey has announced that a cryptocurrency bill has been prepared and is now ready to be presented to Turkey’s legislative chamber. Source:
And, that’s a wrap for 2021! Happy New Year!