Week in review: November 26, 2021 – Canada’s first Bitcoin Custodian

Written by ALT 5 Sigma
on November 29, 2021

In this week’s newsletter:

  • Fidelity was approved by Canadian regulators to launch a Bitcoin custody and trading platform catered for institutional investors.
  • El Salvador plans to create a ‘Bitcoin City’.
  • Morgan Stanley adds more Grayscale Bitcoin shares.

Read our weekly round up below.

Fidelity Approved To Become Canada’s First Institutional Bitcoin Custodian

Nasdaq: November 17, 2021

Investment Industry Regulatory Organization of Canada (IIROC) approved Fidelity to launch a new bitcoin trading and custody platform that caters to institutions such as pension funds, portfolio managers, mutual funds, and exchange-traded funds (ETFs) seeking direct exposure to BTC.

El Salvador Plans To Create a ‘Bitcoin City’—and 5 Other Crypto Updates You Should Know

CNBC: November 22, 2021

The city will be built near Conchagua volcano in south eastern El Salvador and will have no taxes except from value-added tax, which is a levy on goods and services at each step along the supply chain. Construction will begin in 2022.

Morgan Stanley Adds More Grayscale Bitcoin Shares Despite Heavy Discount

Decrypt: November 25, 2021

Morgan Stanley, one of the largest investment banks in the U.S., has increased its Bitcoin exposure to over $300 million by purchasing additional shares of the Grayscale Bitcoin Trust (GBTC) for three of its funds during the third quarter.

This Week in Crypto: Bulls Battle for Survival

Tipranks: November 25, 2021

The crypto market is enduring a tug-of-war, stumbling and stabilizing. Leading tokens, including BTC, ETH, and several others remain on the retreat from all-time highs. Still, blockchain games and metaverse-related tokens like GALA, MANA, and several others are rallying in the meantime.

Cryptocurrency Predictions for 2022

Go Banking Rates: November 18, 2021

Cryptocurrency has boomed in popularity over the past few years, to the point that the alternative investment class has essentially gone mainstream. While Bitcoin was the first and still remains the best-known cryptocurrency, literally thousands of other cryptos have entered the scene.

Bitcoin Dominance Slides Below 40% for First Time in 6 Months

Bitcoin.com: November 25, 2021

The price of bitcoin (BTC) reached $69K on November 10, and six days later on the 16th, the price fell below the $60K zone and hasn’t returned above that region since then. Today, according to crypto coin market aggregators there are around 11,117 coins being traded on 525 cryptocurrency exchanges.

Bitcoin Enables Sovereign Individuality, Our Digital Future’s Holy Grail

Bitcoin Magazine: November 25, 2021

Whether it’s how people live, their ability to travel to different places or how assets are all completely digitized, the world is swiftly changing. In the cryptocurrency industry, we operate in an entirely digital format while many of us strive to maintain privacy and preserve the sovereignty of the individual.

Bitcoin Offers ‘Black Friday Deal’ With Sub-$55K BTC Price – Just Like 2020

Cointelegraph: November 26, 2021

Bitcoin (BTC) may be down 20% from all-time highs, but this is a golden opportunity to “buy the dip,” analysts argue. Black Friday is living up to its name in crypto this year as both Bitcoin and many altcoins are trading at their lowest in six weeks.

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