Earlier this month, Fidelity Digital Assets, a division of Fidelity Investments, released a report on cryptocurrency developments and their possible future implications. The adoption of cryptocurrencies by sovereign nations is one of the topics covered in the paper.  “This past year saw some major moves by world governments with regards to digital assets,” Fidelity described. The report discusses countries like China that have banned cryptocurrency and countries like El Salvador that took the opposite approach and made BTC legal tender. “We think the two developments observed this year couldn’t be more opposed. Time will certainly tell which path is more successful,” the report authors discoursed. Though, they noted: “An outright ban will be difficult to achieve at best, and if successful, will lead to a significant loss of wealth and opportunity.” The authors continued, “We also think there is very high stakes game theory at play here, whereby if bitcoin adoption increases, the countries that secure some bitcoin today will be better off competitively than their peers,” expounding: “Therefore, even if other countries do not believe in the investment thesis or adoption of bitcoin, they will be forced to acquire some as a form of insurance.” Fidelity illuminated, “In other words, a small cost can be paid today as a hedge compared to a potentially much larger cost years in the future.” The investment firm established: “We, therefore, wouldn’t be surprised to see other sovereign nation states acquire bitcoin in 2022 and perhaps even see a central bank make an acquisition.” Last week, El Salvador’s president, Nayib Bukele, projected that two more sovereign countries would embrace bitcoin as legal cash this year. Nigel Green, the CEO of deVere Group, is more positive. Three more nations are expected to embrace BTC as legal cash this year, according to him.

The post More Countries are Expected to Acquire Bitcoin Citing ‘Very High Stakes Game Theory’, According to Fidelity appeared first on Cryptoknowmics-Crypto News and Media Platform.

Fidelity Digital Assets, a subsidiary of Fidelity Investments, published a report earlier this month on crypto trends and their potential future impact. Among the trends discussed in the report is cryptocurrency adoption by sovereign nations. This past year saw some major moves by world governments with regards to digital assets,” Fidelity described. The firm expects […]

Milano, 14 gennaio 2022 – Anno 2022: bitcoin diventa a tutti gli effetti una asset class di investimento. Praticamente un “titolo” che potrà essere comprato in banca, al pari di azioni e obbligazioni, anche in Italia. L’apripista sarà Banca Generali attraverso l’accordo con Conio. “Riteniamo che il trend sia iniziato e che – come sempre […]

The post 2022: L’ANNO IN CUI IL BITCOIN DIVENTÒ UN’ASSET CLASS appeared first on Fintech News.

Key Takeaways Reports emerged this week that the government of El Salvador may be surveilling journalists using the spyware "Pegasus." Crypto community members are now...

Global investment bank JPMorgan has asked its clients what they think the price of bitcoin will be by year-end. Among the bank’s clients who responded, 55% expect the price of bitcoin to end the year at $60K or higher. What JPMorgan’s Clients Expect the Price of Bitcoin to Be by Year-End JPMorgan has conducted […]

These bottom-up “transition agents,” from private business to the freedom ladder, will be what drives us all to hyperbitcoinization.

2022 was supposed to be the year in which bitcoin reached the six-figure mark. Many analysts believed that by the end of the year, $100,000 would be achievable for the world’s number one digital currency by market cap. However, given the recent bearish trends bitcoin has been following, a poll released by financial giant JPMorgan...

The post JPMorgan: Nobody Really Thinks BTC Will Hit $100K This Year appeared first on Live Bitcoin News.

The Kingdom of Tonga may adopt bitcoin as legal tender, according to a former member of Tonga’s parliament, Lord Fusitu’a, who tweeted about a possible timeline for this event to occur. Fusitu’a believes that by next fall a bill will be passed by Tonga’s parliament and bitcoin could be legal tender in the region by […]

The credit rating agency believes El Salvador’s Bitcoin experiment has elevated the country’s risk profile and could limit its access to foreign debt markets.

A former lawmaker from the island nation wants to use Bitcoin to secure his country’s financial security.

Pegasus spyware was found on 35 journalists' phones from El Faro, one of the only major outlets in El Salvador to criticize its president.

The post Pegasus spyware monitored journalists critical of Bukele’s Bitcoin plan appeared first on Protos.

Moody’s has said that El Salvador’s Bitcoin trades represent extra risk to a sovereign credit outlook. According to the company’s analyst, Jaime Reusche, the country’s credit outlook was already weak and showing growing signs of failure.