Nickel Research Centre

Major developments in digital assets, January 2021

  • $1 trillion market capitalisation reached by the digital assets market for the first time
  • Harvard and Yale Endowments among those reportedly buying digital assets
  • Real Vision’s Raoul Pal published a research piece “The Inconvenient Truth about Crypto
  • BlackRock takes first step into crypto by adding Bitcoin futures as eligible investments to two funds
  • JPMorgan analysts noted that “Bitcoin is crowding out Gold”; voicing long-term price target $146,000
  • JPMorgan accelerated the rollout of JPM Coin, to facilitate wholesale and cross-border payments
  • Bridgewater’s Ray Dalio published a ground-breaking research piece “What I Think of Bitcoin”
  • Gary Gensler, MIT professor and advisor to Digital Currency Initiative is appointed Chairman of the SEC
  • The US OCC implements Groundbreaking Crypto Guidance For Banks And The Future Of Payments
  • The US OCC is expected to reveal the first national “crypto bank charter”
  • Financial Times published front page article about Bitcoin on the 12th anniversary of network launch
  • Bloomberg report suggested Bitcoin’s value could pass $50,000 as it vies with gold as a store of value
  • Goldman Sachs exploring plans to enter digital assets market
  • Forbes published a five-point roadmap to forthcoming regulatory improvements in the crypto sector
  • Bank of America noted that Bitcoin has become the trade experiencing greatest capital inflows in ‘21
  • Brian Brooks acting head of the OCC, wrote in the FT proposing clear regulation for DeFi
  • Bank of Singapore wrote that crypto has the potential to partially replace gold as a store of value
  • Three Arrows, a Singapore-based hedge fund, bought $1.3 billion in Bitcoin
  • PayPal said it plans to make crypto purchases available this year at its 28 million merchants worldwide
  • Visa International CEO Al Kelly revealed integration of crypto payment across Visa’s network
  • Coinbase, the largest US crypto exchange is going public through a direct listing
  • The World Economic Forum’s Davos agenda featured two separate sessions on digital assets
  • China's Central Bank advanced plans to roll out the world’s first Central Bank Digital Currency (CBDC)
  • The Central Bank of Bahrain issued a license to the Shariah-compliant crypto exchange, CoinMENA
  • Banque de France successfully conducted an experiment on CBDC for interbank settlement purposes
  • Philippine Central Bank widened Crypto regulation after seeing accelerated growth in activity
  • Barclays Private Bank’s report, “Cryptocurrencies: the new gold?” reviewed Bitcoin’s investment role
  • Fundstrat Global Advisors’ Tom Lee went on record to say Bitcoin’s value could quadruple again in ‘21
  • Bakkt, a US exchange, followed Coinbase in going public, via a merger
  • Booking.com, the leading travel portal, announced plans to integrate Bitcoin into its payment systems
  • Bitcoin trading volumes reached record levels on all global exchanges and derivatives markets
  • Bitcoin achieved a new record high of $42,000 during the month of January
Monthly news