BitDigest June 30 · Issue #690
- Bitcoin continues to hold at $9,000+ level
- Reserve Bank of Zimbabwe suspends the use of mobile payment apps in effort to stabilize currency
- The Bank of Canada does not believe existing crypto-privacy technology can meet the levels needed for cash-like usage by a central bank digital currency
Crypto Fear and Greed Index
The Crypto Fear & Green Index rose 3 points this week as the sentiment index for crypto markets moved closer to neutral territory after sliding back into a 40-range two-weeks ago.
Gold Lacks Bitcoin-like Verification System
Expect to hear a lot about fake gold in the coming days as 83 tons of gold that creditors of Chinese based Kingold Jewelry (NASDAQ: KGJI) held as collateral against a $2.8 billion loan was found to fake and not actual gold but just gilded copper. This is an equivalent to 22% of China’s annual gold production. Shares in KGJI slid 22% in yesterday’s trading session.
Debunking Common Bitcoin Myths
Thematic research firm ARK Invest has responded to last month’s Goldman Sach’s report on bitcoin by addressing several common bitcoin myths. ARK argues that bitcoin’s volatility is not a weakness but highlights the credibility of its monetary policy; bitcoin is not a financial bubble and is actually a contender for the role of global money; bitcoin is a censorship-resistant platform that is not built for criminals; bitcoin’s value cannot just be replicated by forks or digital copies; and bitcoin’s energy consumption is more efficient than that of gold and traditional banks.
The Headlines
Market Data
Exchange, Custody and Product News
Thoughts on the Ecosystem
Reports you may have missed
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