Bitcoin continues its sideways trend. Meanwhile, US banks are promoting crypto adoption by offering their customers purchase options for the digital store of value.
A breeze from the west is driving the Bitcoin rate further sideways. With a slight price loss of almost 2 percent, the digital store of value does not yet dare to attack the 40,000 range. At the time of going to press, the BTC rate is $ 34,343. On a weekly basis, the cryptocurrency can still gain almost 5 percent.
An indicator that the course will soon turn north again could mean a deal between the US financial services provider NCR and the New York Digital Investment Group (NYDIG). Because how Forbes reports, the cooperation gives 650 banks in the USA the opportunity to offer their customers purchase options for Bitcoin without having to keep them themselves. In some states, it is even possible to trade the cryptocurrency, such as in California. The trades run through the payment service provider’s app.
The partnership primarily promotes Bitcoin adoption in the USA. According to the report, around 24 million people could be washed onto the blockchain with the deal. The fact that the service is offered by banks should also ensure greater trust.
Mike Novogratz: “Ethereum could replace Bitcoin”
While Bitcoin had to cope with slight losses, Ethereum was able to gain almost 8 percent overnight. In the meantime, the increase has flattened out somewhat, but is still up 1.38 percent at 2,164 US dollars.
The reason for the rapid increase could be one Bloomberg-Interview with star investor Mike Novogratz. In it, the American spoke about the ongoing global crypto regulations that Bitcoin is currently struggling with. At the same time, he again emphasized the use case of Bitcoins as a digital store of value and then made a statement about Ethereum, which could presumably have led to increased ETH purchases among investors. More precisely he said:
For Bitcoin, the role of the digital store of value is tailor-made. Ethereum will certainly remain the second most valuable cryptocurrency in the future, if not the most valuable. The use case is very different and could be used as a foundation for trust in Web 3.0.
Mike Novogratz to Bloomberg Technology.
The investor predicts that the projects being built on Ethereum have the potential to become “breathtaking”. Despite all the optimism, however, one should not be too early to look forward to it, says Novogratz. Because the competition does not sleep either. Regardless of whether Solana, Terra or other projects, you have to take this situation seriously.
Despite the positive forecasts, the crypto space is currently struggling with a global wave of regulation. Whether in the USA, Germany or China, authorities everywhere are tightening the thumbscrews for Bitcoin and Co. Mike Novogratz remains optimistic. “The crypto space will emerge stronger from this situation,” says the 56-year-old. It is to be hoped that he is right.