Nickel Research Centre
Monthly news

Major developments in digital assets, February 2021

  • Goldman Sachs will begin dealing bitcoin futures and non-deliverable forwards in March
  • Tesla invested $1.5bn in bitcoin and disclosed plans to accept it as a means of payment
  • The Economist wrote that “the corporate world is taking notice” of digital assets
  • BNY Mellon, America’s oldest bank, announced the development of a digital asset custody platform
  • JPMorgan‘s co-president Daniel Pinto declared “the demand will be there” for the bank to offer bitcoin
  • Deutsche Bank confirms creation of a crypto trading & custody platform for institutional investors
  • Mastercard plans to integrate crypto assets into payment network, as “trend is unmistakable”
  • CalPERS, the US largest pension fund, increased investments in cryptocurrency mining companies
  • CME Group Chief Economist Bluford Putnam dubbed bitcoin “an emerging competitor to gold”
  • Morgan Stanley’s $150bn Counterpoint Global fund announced exploration of bitcoin
  • US Federal Reserve hired digital asset specialist Sunayna Tuteja as its first Chief Innovation Officer
  • Microstrategy raised $1bn through convertible senior notes with immediate allocation to Bitcoin
  • Square reported 9-fold growth in Bitcoin sales, and invested an additional $170m into Bitcoin
  • Christie’s Auction House listed a blockchain-based Non-Fungible Token artwork for the first time
  • CME Ether Futures began trading with over $33m in volume on their first day of trading
  • Elon Musk endorsed Bitcoin, saying it’s “on the verge of... acceptance by conventional finance people”
  • Bitcoin for Corporations virtual conference attracted over 1.400 companies, including Tesla
  • Amazon recruited for development of a digital currency payment pilot program in emerging markets
  • Tencent and Alibaba-backed private banks WeBank and MYBank join China’s national CBDC trial
  • SBI Holdings declared M&A plans to make crypto assets a core pillar of profitability
  • Coinbase traded on NASDAQ private markets ahead of listing, with an implied valuation of $100bn
  • Scott Minerd, CIO of Guggenheim says aggressive monetary policies may push bitcoin to $600,000
  • Bill Miller’s flagship Miller Opportunity Trust fund files for $400m Bitcoin investment
  • Kraken, an American crypto asset exchange, saw its valuation double to approximately $10bn
  • Purpose Bitcoin ETF launched in Canada, becoming the most-traded ETF on its first day
  • China extended their national CBDC trial to Beijing for Lunar New Year celebrations
  • Francis Suarez, mayor of Miami, announces plans to pass favourable legislation for digital assets
  • Rabobank completed the first ever real-time blockchain-based commercial paper transactions
  • SDAX receives Singaporean regulatory approval to launch a tokenised digital asset exchange
  • Bitcoin network miners earned record weekly revenues of $354m
  • Bitcoin’s market cap exceeded $1tn for the first time during February
  • Ethereum reached an all-time high of over $2,000, before consolidating on a lower level
  • The market capitalisation of digital assets grew from $975bn to $1.4 trillion, at one point reaching an intramonth level of $1.7 trillion. Bitcoin is +36% in February 2021 and +55% YTD (February 28, 2021)