Wealthy Coinbase clients are still ‘hodling’ Bitcoin since December 2020, dat...
Institutions that reportedly purchased 10,939 BTC from Coinbase in December 2020 are not selling yet. Bitcoin's (BTC) price dropped by more than 50% after peaking out at $69,000 six months ago but the plunge did little in forcing some of its wealthiest investors into selling.Notably, the number of Bitcoin under Coinbase Custody for institutional clients rose by 296% since Q4 2020, showcasing the most investors decided to "hodl" onto their investments despite BTC price being down well over 50% from its all-time highs.JUST-IN: #Bitcoin under @Coinbase Custody for institutional clients....
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As earlier reported, corporate institutions have started hoarding Bitcoin to pay ransoms in the event of cyber criminal attacks which could lead to ‘hodling’ - or holding onto - the top digital currency, it is not clear if this trend is having a strengthening effect on the value and price of Bitcoin. For quite some time, buying and stocking Bitcoin for use as a store of value has been the best option to increase its market value or to encourage the frequent use of the currency, freely and on a regular basis, has been a subject of debate with varying perspectives to it. Hold. The best way....
Business Insider reports that wealthy Wells Fargo clients can now get Bitcoin & crypto exposure through the bank.
Swiss bank UBS Group AG has now entered the cryptocurrency arena alongside global banking giant HSBC Holdings Plc, enabling wealthy clients in Hong Kong to engage in the trading of specific cryptocurrency-linked exchange-traded funds. This strategic decision not only reflects a growing trend among major banks but also underscores Hong Kong’s aspirations to establish itself […]
Coinbase has also changed the way it will alert clients to relevant tax information.
Crypto investment offerings for wealthy clients will be limited to a small fraction of their portfolios due to the volatility of the asset class, sources say. UBS Group AG is exploring various ways to offer its wealthy clients the possibility of investing in digital assets, anonymous sources claim. A new report from BNN Bloomberg suggests that investment opportunities in crypto will remain limited to “a very small portion of the clients’ total wealth” due to concerns over the volatility of the cryptocurrency markets. Sources familiar with the Swiss firm’s plans suggest that investments in....