Bitcoin Bolstered As Amazon Dip Its Toe Into Crypto World


Bitcoin Bolstered As Amazon Appears To Dip Its Toe Into Crypto World
the-design_org / Pixabay

“When a simple job ad appears to spark resurgence in the value of Bitcoin, it shows how the crypto world is salivating for every nugget of news about the future use case for digital currencies.

Get The Full Henry Singleton Series in PDF

Get the entire 4-part series on Henry Singleton in PDF. Save it to your desktop, read it on your tablet, or email to your colleagues

Q2 2021 hedge fund letters, conferences and more

Amazon To Dip Its Toe Into Crypto World

Although Amazon has scores of openings for blockchain specialists, it was the listing for a digital currency and blockchain product lead that has led to heightened speculation that crypto currency payments could be integrated on its platforms.

Voss Capital is tapping into the affordable housing shortage

HousingThe Voss Value Fund was up 11.6% for the second quarter, while the Voss Value Offshore fund gained 11.2% net. The Russell 2000 returned 4.3%, while the Russell 2000 Value gained 4.2%, and the S&P 500 was up 8.5%. Q2 2021 hedge fund letters, conferences and more Year to date, the Voss Value Fund is Read More

Given the might of Amazon Web Services, it isn’t surprising that the tech giant wants to be at the cutting edge of new payments technology and establishing a new digital currency is likely to be on the agenda. But the expectation that payment may also be accepted from  the current crypto kids on the block has also led to a spike in their value.  Over the past 24 hours Bitcoin has risen by 11%, Ethereum by 8% and Dogecoin by 11%.

Crypto fans are also hanging on every word of Elon Musk and his hint that Tesla could start accepting Bitcoin again is also behind the crypto bounce. The suspension of Bitcoin as a means of payment for Tesla cars sent the crypto world reeling in May, but in a debate with Twitter CEO Jack Dorsey, Mr Musk indicated that could change given mining has reached a tipping point, with much more renewable energy used instead of fossil fuels.

Crypto assets are also largely following sentiment in financial markets. The sharp fall in stock markets around the world a week ago, was mirrored in the crypto world, and the rebound came as fears  receded about the impact of new variants on economic recovery.

The sensitivity of crypto coins and tokens remains stark, and given the uncertain landscape ahead, with central banks looking to develop their own digital coins, investors should be wary of speculating with money they can’t afford to lose.’’

Article by Susannah Streeter, senior investment and markets analyst, Hargreaves Lansdown


About Hargreaves Lansdown

Over 1.6 million clients trust us with £132.9 billion (as at 30 April 2021), making us the UK’s largest digital wealth management service. More than 98% of client activity is done through our digital channels and over 600,000 access our mobile app each month.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *

Copyright © 2019 Billionaire Club Co LLC. All rights reserved

Chat
Loading the chat ...