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BitDigest February 9 · Issue #838

Feb 9, 2021
Author
Gregory Landegger
Gregory Landegger
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  • Bitcoin hits new high of $47,750 on Tesla announcement driving crypto marketcap up 13%
  • G7 Leaders plans to discuss CBDCs at this weeks meeting
  • The Bank of Korea has defined CBDCs meet the legal definition of currencies and can be freely exchanged with cash
BitDigest February 9 · Issue #838

Gemini dollar (GUSD) has broken the $100 million marketcap and has been added to the daily tracking chart above.

Crypto Fear & Greed Index

The Fear & Greed Index for bitcoin and other large cryptocurrencies jumped 12 points over night reaching 95, a repeat of its highest level ever and a level not posted since January 6th, on news that Tesla had bought $1.5 billion in bitcoin. The index rose 19 points over the past 7-days.

BitDigest February 9 · Issue #838

CMC Humor

Coinmarketcap.com has replaced r/wallstreetbets as the top asset on its list of top digital currency’s with Tesla.

BitDigest February 9 · Issue #838

The Headlines

BitDigest February 9 · Issue #838

G7 to Discuss CBDCs

www.reuters.com
Leaders in the Group of 7 have announced that Friday’s meeting in the UK will include discussions on central bank digital currencies that will likely lead to a global framework to be drafted by the financial regulators.
BitDigest February 9 · Issue #838

CBDCs Are Fiat Currency

www.coindesk.com
The Bank of Korea (BoK) has concluded that central bank digital currencies meet the requirements of currency legislation and could be freely exchanged with cash as the two share the same legal status; this decision provides the BoK with the legal basis to apply interest rates on future CBDC issuances.
BitDigest February 9 · Issue #838

Nevada Looking to Establish Autonomous Technology Innovation Zones

www.reviewjournal.com
The State of Nevada is looking to launch innovation zones which will allow technology companies to effectively form separate local governments in the state; the quasi-governmental structure would evolve over time and eventually carry the same authority as a county, including the ability to impose taxes, form school districts and justice courts and provide government services.
BitDigest February 9 · Issue #838

Miami Mayor Wants to Buy Bitcoin

www.twitter.com
🐦Miami Mayor Francis Suarez tweeted that he plans to submit a resolution to the city counsel this week enabling his city to purchase bitcoin as a treasury asset.
BitDigest February 9 · Issue #838

TSLA Buys $1.5 Billion in Bitcoin

www.sec.gov
📈Tesla (NASDAQ: TSLA) announced a $1.5 billion investment in bitcoin as part of an updated investment policy allowing the company to invest a portion of cash into “alterative reserve assts including digital assets, gold bullion, gold exchange-traded funds and other assets as specified in the future”. TSLA also announced plans to begin accepting bitcoin as a form of payment for products in the future. Terms of the bitcoin acquisition were not released. 🅱️$1.5 billion is equal to the electric vehicles entire R&D budget in 2020 so it signifies the value of this investment.
BitDigest February 9 · Issue #838

Riot Blockchain Appointments New CEO

www.ir.riotblockchain.com
📈Riot Blockchain (NASDAQ: RIOT) announced the appointment of Jason Les as Chief Executive Office; Les had served the bitcoin mining company’s independent director since 2017 and will replace Jeff McGonegal who will return to position as Chief Financial Officer after a two-year tenure as CEO.
BitDigest February 9 · Issue #838

Bitfarms Announces CAD$40.0 Million Private Placement

www.globenewswire.com
📈Canadian bitcoin miner Bitfarms (CVE: BITF) announced a CAD$40 million private placement at a price of CAD$3.46 per common share and associated warrant with a USD$3.01 exercise price; net proceeds of the private placement will be used by the Company principally to acquire additional miners, expand infrastructure, and improve its working capital position.
BitDigest February 9 · Issue #838

Bitwise Files to Create Crypto Innovators ETF

www.sec.gov
Bitwise Investments has filed a prospectus with the US Securities and Exchange Commission to issue the Bitwise Crypto Innovators ETF, a fund investment in companies that either have a minimum marketcap of $100 million who derive more than 75% of their revenue directly from the crypto ecosystem or have more than 75% of their net assets accounted for by direct crypto asset holdings; or has a “dedicated business initiative” explicitly focused on the crypto ecosystem that is reported on in at least one of the company’s official quarterly or annual filings from the past 12 months.”
BitDigest February 9 · Issue #838

CoinDesk Launches CoinDesk TV

www.businesswire.com
CoinDesk, Digital Currency Group’s media division, has formally launched CoinDeskTV, a video streaming service with live daily and weekly news updates and shows covering the rapidly evolving world of digital finance and its role in a global economy facing profound change.
BitDigest February 9 · Issue #838

Binance Drops Suit Against Forbes for 'Tai Chi' Accusations

www.courtlistener.com
Binance dismissed without prejudice its suit against Forbes Media alleging Forbes had made false allegations in its October release of the ‘Leaked Tai Chi Documents’ which accused the digital currency exchange of partaking in an “elaborate scheme to evade bitcoin regulators.”

Market Data

BitDigest February 9 · Issue #838

388 Ether Contracts Trade on First Day of Offering

www.cmegroup.com
CME Markets saw 388 ether contracts trade in the first day of future trading with February contracts settling at $1751 and April 2021 settling at $1789.
BitDigest February 9 · Issue #838

Kraken Releases January 2021 Market Recap and Outlook

www.blog.kraken.com
📝Kraken’s latest monthly Market Recap reports annualized volatility reached levels not seen since the March crash of 2020 ending with a bullish fourth consecutive month of positive returns. January also marked the third straight month where wallets holding over 100 BTC continued accumulating bitcoin.

Thoughts on the Ecosystem

BitDigest February 9 · Issue #838

Apple Could Be Next to Buy Bitcoin

www.cnbc.com
📈RBC Capital Markets believes Apple (NASDAQ: AAPL) could be the next company to buy into crypto and could help make the USA a leader in crypto for the next 10 – 20 years. 🅱️ A $1.5 billion investment in bitcoin would only be equal to 6 days of the company’s cash flow so it would not have the same magnitude internally as Tesla’s investment but could have a greater impact on the crypto ecosystem as a whole.

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