TIME to Keep Bitcoin (April 13, 2021)

Share some Bitpinas love:

Good morning. Welcome to Tuesday Trades, part of our new series: BitPinas Daily. We will look at the price of Bitcoin, Ethereum and the major cryptocurrencies. Crypto is global, but sometimes news that matters happens while we sleep. So we bring to you what’s happening in our space here and abroad.         

Market Price as of April 13, 2021:

Bitcoin$59,911-0.13%
Ethereum$2,142.48-0.35%
BNB$598.55+14.66%
DOT$40.56-1.98%
ADA$1.32+4.76%
SLP$0.04-0.4%


Bitcoin closed April 12, 2021, at $59,911 per BTC. We’re up 3.8% in the last 7 days and up 109.6% since the year began. This is also 2.92% below the all-time high of $61,711, which was hit on March 13, 2021.

Bitcoin’s market capitalization stands today at $1,138,967,678,035 which is 52.91% of the entire cryptocurrency market. The entire crypto market, by the way, now has a market cap of $2,161,586,101,199  +2.3%).

On the table above, there’s the cryptocurrency SLP. If you wonder what that is, check out this article: Playing Axie Infinity vs Minimum Basic Salary in the Philippines.

Binance

Binance Launches Tokenized Stock Trading Beginning With Tesla

Binance has begun allowing its users to to buy tokenized stocks, starting with Tesla, in what the company said is a demonstration of how it can democratize value transfer more seamlessly, reduce friction and costs to accessibility without compromising on compliance and security.

Tokenized shares meant they are not really shares of the stock of the company, like Tesla, but it gives an exposure to the underlying shares and other potential corporate actions, including dividens. 

According to Binance, each token is fully backed by a depository portfolio of underlying securities that represents the outstanding tokens. “Our partner CM-Equity AG, a licensed and fully regulated asset management firm in Germany, entrusts the acquired shares to a third-party brokerage firm for custody. In addition, CM-Equity AG will be monitoring all trading activity for compliance,” a Binance spokesperson told The Block.

By the way, this Binance service isn’t 24/7. “Stock tokens are fully-backed, and the trades are executed in real-time. Hence, trading of stock tokens follows the underlying stocks’ traditional trading hours,” the spokesperson added.

Time Magazine

Time Magazine Joins Tesla in Holding Bitcoin, to Produce a Crypto Video Series

Time Magazine has partnered with Grayscale to produce an educational video series about cryptocurrency due to come out this summer. 

The kicker is that Time will be paid in Bitcoin to create the series. This Bitcoin will be put in the magazine’s balance sheet.

This is the first time a legacy media brand, a very old company, will hold Bitcoin. 

MicroStrategy

Some MicroStrategy Board Members Will be Paid in Bitcoin

A filing with the U.S. Securities and Exchange Commission revealed that MicroStrategy will begin paying their non-employee directors on its board in Bitcoin instead of USD. The firm said this is in demonstration of its commitment to Bitcoin.

By paying the board members in Bitcoin, it means that at the time of the payment, the USD will be converted into Bitcoin which would be deposited to a digital wallet of the board member.

HSBC

HSBC Bans MicroStrategy Stock

HSBC already blocks any transactions “tainted” with cryptocurrency. Now it no longer allows customers to trade the MicroStrategy stock because of its significant Bitcoin holdings.

In a letter to clients, the HSBC said this is due to a  change in the bank’s policy on virtual currencies and related products. 

In a statement to Reuters, the bank said:

“HSBC has no appetite for direct exposure to virtual currencies and limited appetite to facilitate products or securities that derive their value from VCs (virtual currencies).”

What else is happening

  • Nvidia Revenue Outpaces Q1 Forecasts, Partly Driven by Crypto Chip Demand
  • NYSE Is Doing NFTs and No One Knows What to Make of It
  • Binance Coin’s Surge Elevates Token to Ranks of Crypto Titans
  • NFTs Will Be Far Bigger as Digital Clothes Than as Collectibles

This article is published on BitPinas: TIME to Keep Bitcoin (April 13, 2021)

Share some Bitpinas love:
Follow on social and subscribe to our newsletter
Subscribe
Notify of
guest
5 Comments
Oldest
Newest Most Voted
Inline Feedbacks
View all comments

[…] This text is printed on BitPinas: TIME to Keep Bitcoin (April 13, 2021) […]

[…] This article is published on BitPinas: TIME to Keep Bitcoin (April 13, 2021) […]

[…] Source link […]

… [Trackback]

[…] Information on that Topic: bitpinas.com/price-analysis/tuesday-trades-time-to-keep-bitcoin-april-13-2021/ […]

… [Trackback]

[…] Here you will find 12724 additional Info to that Topic: bitpinas.com/price-analysis/tuesday-trades-time-to-keep-bitcoin-april-13-2021/ […]

Michael Mislos

A business ad graduate from the Pamantasan ng Lungsod ng Maynila, Mike is the website manager of Bitpinas.com. He is responsible for almost every content you see on the site, from topic/news selection to editing of articles. Mike believes correct information about blockchain and cryptocurrency can empower people to make accurate decisions about the industry, which, in turn, should deter bad actors from taking advantage of crypto & blockchain. [Telegram @mikemislos]