Home 2021 What is Driving Bitcoin

Bitcoin was the first and is still most well-known cryptocurrency. People were skeptical at first but the cryptocurrency tidal wave hard to ignore! Despite Bitcoin being well known amongst traders for its price swings, many believe that this leading digital currency is here to stay according to Knightsbridge one of the World’s fastest growing Crypto brokers and Asset Managers.

The beginning of the pandemic immediately sparked rumors about a new financial crisis hitting the globe with all its might. Indeed, nobody knew how long it would take the world to combat COVID-19. The government started the money creation process, and the US dollar index slid to the lowest level for the first time in the past few years. As the market hates uncertainty, the whole world froze, awaiting election results. Stock market and gold prices dropped again as a natural response to the election season, and everyone expected Bitcoin to follow the same falling trend, but it didn’t. 

A recent report from an industry watchdog, HackerNoon said: “Money ‘printing’ pumped up the economy to keep markets functioning. Yet nobody seemed to be thinking of the long-term consequences. The risk of inflation forced investors to start looking for other, more reliable assets to allocate their funds.  Here’s where Bitcoin came to the rescue. Its price skyrocketed even more, compared to traditional financial markets. And that was just the beginning. As investors always keep looking for new opportunities, while the stock market and gold didn’t promise much return, it became a unique asset with huge potential.”  Active companies with recent developments in the Tech Industry include: TechX Technologies Inc. (OTCPK: TECXF) (CSE: TECX), Grayscale Bitcoin Trust (OTCQX: GBTC), JPMorgan Chase & Co. (NYSE: JPM), BTCS Inc. (OTCQB: BTCS), PayPal Holdings (NASDAQ: PYPL).

HackerNoon continued: “The Bitcoin addiction buzz also raised as PayPal announced it would enable buying, selling, and holding digital currencies. PayPal owns a huge payment infrastructure and sets a new trend that will soon be supported by others… the biggest debit payment system PayPal has joined the crypto market, allowing its users to hold, buy, and sell digital currencies in its online wallets. PayPal also said that beginning in 2021, PayPal customers will be able to use their crypto to pay at PayPal’s 26 million merchants worldwide with no incremental fees.  Aside from this, more and more institutional investors are flocking in cryptocurrencies, raising the demand and making it more promising for others.

As big players keep joining the game, the value of the whole cryptocurrency industry also keeps rising… To address high volatility, the consumers will immediately be converting their crypto balance to fiat. With a PayPal user base of 340 million, we can assure you that mass adoption is finally here.”

TechX Technologies Inc. (OTCPK: TECXF) (CSE: TECX) BREAKING NEWS: TechX’s Portfolio Company Catalyx Launches FastBitCash.Ca  –TechX Technologies Inc. (“TechX” or “the Company”), a company focused in emerging technologies across growth sectors including: crypto, blockchain, AI and cloud technologies, is pleased to announce that it’s new portfolio company, Catalyx Exchange has launched FastBitCash.ca, a platform that offers the fastest Bitcoin purchase and withdrawal in Canada.

Catalyx.io, which is Canada’s premier cryptocurrency exchange with over 40+ Altcoins available for purchase, launched FastBitCash.ca to provide non-crypto traders with a fast, secure, convenient and fully FINTRAC compliant Bitcoin purchases and withdrawals platform.

  • FastBitCash Key Features:
  • Fastest bitcoin purchase and withdrawal in Canada
  • Purchase up to $1,000 with limited KYC
  • Buy bitcoin with Interac or EFT
  • Lowest transaction fees in Canada
  • Cutting-edge and hack-proof cybersecurity
  • Trustworthy and fully compliant with FINTRAC

“We are very excited about the launch of FastBitCash.ca, which offers the fastest bitcoin purchases and withdrawals in Canada” said Catalyx CEO Jae Park. “Unlike other crypto platforms, which can be daunting for new investors, FastBitCash allows users to easily buy and hold bitcoin instantly with limited KYC for amounts up to $1,000”.

TechX is also pleased to announce the appointment of Ms. Zara Kanji as Chief Financial Officer and Kelly Pladson as Corporate Secretary effective immediately.

Ms. Kanji has served as director and officer for several listed issuers and has been part of teams that have facilitated several financings and acquisition transactions. She is a Member of the Chartered Professional Accountants of BC (Previously Certified General Accountants of BC) since August 2003.

Further, the Company has granted an aggregate 300,000 incentive stock options (the “Options”) to the officers of the Company. The Options are exercisable at $0.46 per share for a period of five years from the date of grant.  The Options have been granted under and are governed by the terms of the Company’s incentive stock option plan.  Read this entire press release and more news for TECX at:  https://www.financialnewsmedia.com/news-tecx

Other industry developments from around the markets include:

Grayscale Bitcoin Trust (OTCQX: GBTC) the world’s largest digital currency asset manager, recently announced its consideration of several new digital assets for potential new product offerings. The firm, which currently offers accredited investors eight single-asset investment trusts and one diversified fund, continues to seek ways to better meet growing investor demand for exposure to digital assets through familiar, secure, and regulated investment products.

“We’re eager to expand our product offerings to better serve our investors,” said Grayscale CEO Michael Sonnenshein. “The digital currency universe is constantly evolving and we seek to identify bold, interesting, and innovative opportunities that satisfy our investors’ demand for differentiated exposure to this burgeoning asset class.”

JPMorgan Chase & Co. (NYSE: JPM) is launching a structured investment product based on the performance of its “Cryptocurrency Exposure Basket,” which tracks stocks of publicly traded companies with exposure to cryptocurrencies. The weight of each stock is “determined based in part on exposure to bitcoin, correlation to bitcoin and liquidity,” according to the company’s filing with the U.S. Securities and Exchange Commission (SEC).

In a Tuesday filing with the SEC, JPMorgan Chase revealed a structured investment product that enables its clients to gain exposure to cryptocurrencies.  “The notes are unsecured and unsubordinated obligations of JPMorgan Chase Financial Company LLC,” the company explained. The payment on which is “fully and unconditionally guaranteed by JPMorgan Chase & Co.”

BTCS Inc. (OTCQB: BTCS), a digital asset and blockchain technology focused company, recently announced its recently expanded transaction verification services operation on ethereum 2.0 is fully operational and generating revenue from all 100 nodes.

“We set a goal of actively generating revenue from all 100 nodes by the end of the first quarter, and we are pleased to report we have achieved this milestone,” stated Charles Allen, Chief Executive Officer of BTCS. “So far, we have deployed 3,200 ETH in our staking operation. With the recent infusion of $9.5 million in gross proceeds from our March 2021 registered direct offering, we are in a great position to continue to grow our validator node network and thereby further accelerate our near-term revenue growth.”

PayPal Holdings (NASDAQ: PYPL) recently announced it is acquiring a new asset. The company announced Monday that it has agreed to purchase Curv, a privately held digital asset security specialist based in Israel. It did not disclose either the price or the terms of the deal, but did say it expects the transaction to close by the end of June.

Curv focuses on security solutions (delivered via cloud computing) for the blockchain, the digital technology that is at the root of cryptocurrencies. It was formed in 2018 by two veterans of both private and public sector cybersecurity organizations in Israel. Because of its geopolitical position, security is a priority in the country, with cybersecurity being a modern aspect of this concern. As a result, Israeli cybersecurity experts are considered to be among the best in the world.

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