Home CryptoBitcoin My Bitcoin Strategy this Week

Well it is pretty much the same as the last few weeks, buy the dips.

Futures shorting usually kicks in Monday am so by mid morning I will be looking for where it is, under $47000 buy it hard, under $46000 dig deep to buy it, under $45000 sell other securities and buy it.

It seems there will be some action this week

BNY Mellon

The oldest bank in the U.S., BNY Mellon, announced Thursday “the formation of a new enterprise digital assets unit that will accelerate the development of solutions and capabilities to help clients address growing and evolving needs related to the growth of digital assets, including cryptocurrencies.”

BNY Mellon is a global investments company with a presence in 35 countries. As of Dec. 31, 2020, the bank had $41.1 trillion in assets under custody and/or administration, and $2.2 trillion in assets under management, according to its website.

“BNY Mellon is proud to be the first global bank to announce plans to provide an integrated service for digital assets,” said Roman Regelman, the bank’s CEO of Asset Servicing and head of Digital. “Pending further evaluations and approvals, we expect to begin offering these innovative and industry-shaping capabilities later this year.”

Purpose Bitcoin ETF

The Ontario Securities Commission approved a bitcoin exchange-traded fund (ETF) called Purpose Bitcoin ETF on Thursday. The fund’s filing describes that “This ETF is an alternative mutual fund” that “invests in and holds substantially all of its assets in long-term holdings of the digital currency bitcoin.”

The fund manager, Purpose Investments Inc., confirmed Thursday that it has been cleared by Canadian securities regulators to launch Purpose Bitcoin ETF, which the company says is “the first direct custody bitcoin ETF in the world.” Purpose Investments is an asset management company with more than $10 billion in assets under management, its website details. The company described:

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