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Bloomberg Sees BTC Price Soon At $ 50,000; BaFin warns of Bitcoin and Co .; Grayscale dissolves XRP trust; Vitalik Buterin criticizes Trump’s Twitter ban and Michael Saylor finds Bitcoin better than tech stocks.
Another exciting week in the crypto space is drawing to a close. The most important events around Bitcoin and Co. in a compact overview.
Bloomberg sees BTC price at USD 50,000 soon
A report from Bloomberg takes a very positive look at Bitcoin and believes that the $ 50,000 mark will fall this year. The report says that the digital store of value crossed the Rubicon into the mainstream and was still available in the early days of pricing. A big difference to the 2017 price rally is that Bitcoin’s reputation has improved. More and more people would see the potential of BTC. According to Bloomberg, the main threats currently lie in a glitch in the technology or strong price fluctuations due to so-called black swan events. Otherwise, Bloomberg is extremely optimistic about the future of digital gold.
BaFin warns of Bitcoin and Co.
The German Federal Finance Agency (BaFin) published a notice on January 13th . In it, the highest German financial supervisory authority warns investors not to get carried away by the latest price developments of, for example, Bitcoin, Ether, XRP, Bitcoin Cash and Litecoin on the crypto market. On the one hand, BaFin warns to be careful when investing in Bitcoin and Co. But the authority also sees a danger in derivatives such as contracts for difference or certificates that map the course of cryptocurrencies.
Grayscale dissolves XRP trust
The largest digital asset manager in the world is quickly releasing its XRP truston. That comes from a press release from the company on January 13th. Grayscale justified this step with the consequences of the lawsuit filed by the American Securities and Exchange Commission. In particular, the fact of the de-listing on various crypto exchanges was decisive. US investors, including the trust, would no longer have the opportunity to convert XRP into US dollars. As a result, the trust’s activities could no longer be continued. Shareholders should be reimbursed for the net proceeds. The exact value of the trust at the time of liquidation is unknown. However, according to a form from the SEC dated January 8, the XRP Trust had 70 investors with an investment volume of 19.2 million US dollars just a week ago.