Bitcoin’s (BTC) market capitalization of $1 trillion and potential for continued growth have made the cryptocurrency “too important to ignore,” according to Deutsche Bank analysts. Deutsche Bank Research, the financial research subsidiary of global banking giant Deutsche Bank, issued a report devoted exclusively to Bitcoin, titled “The Future of Payments: Series 2 Part III. Bitcoins: Can the Tinkerbell Effect Become a Self-Fulfilling Prophecy?”
In the 18-page study, Deutsche Bank Research describes the basic characteristics of Bitcoin and analyzes the key drivers of its historical price growth to a $1 trillion asset.
Deutsche Bank analysts suggested that the Bitcoin price “could continue to rise” further as long as asset managers and companies continue to enter the market. The firm emphasized that central banks and governments now “understand that Bitcoin and other cryptocurrencies are here to stay” and thus are expected to start regulating them by late 2021.
According to Korean media, U.S.-based multinational investment banking giant Morgan Stanley is rumored to be negotiating the acquisition of a significant share in leading Korean cryptocurrency exchange, Bithumb.
The news was reported on March 18 by Aju News, with Bithumb reportedly in discussions with major Bithumb shareholder, Bident — who owns a roughly 10% stake in Bithumb Korea.
A March 19 article from leading local search engine Naver states that Morgan Stanley is planning to invest between 300 and 500 billion Korean won ($254 million to $441 million). The report cited an anonymous senior Bithumb representative as stating, “Morgan Stanley participated in the acquisition of Bithumb.”
The community behind meme cryptocurrency Grumpy Cat Coin, or GRUMPY, has donated 39 ETH worth almost $70,000 to the Sterling Animal Shelter in Massachusetts. (Owing to the fluctuating price of GRUMPY, that's about $10,000 less than estimated in their social post below.)
Our very first charity drive has now ended. 150 Billion- roughly $80,000 in $Grumpy was raised to save kittens for Sterling Animal Shelter, I mean Meow! https://t.co/cTKjKPwrrT $link $bnb $shib $sxp $xrp $doge $rfiii $feg $hoge $bunny $eth $bao $scat $pika$poodl $chow $kangal pic.twitter.com/mm87EAHmAQ— Grumpy Cat (@GrumpyCatToken) March 17, 2021
The meme coin is based on Tardar Sauce, the internet celebrity cat famous for her perpetual grumpy appearance. On the project’s website grumpy.finance, the team states their focus is on “making successful efforts for all of our community members as well as the world by giving back.”
This Daily Dose was brought to you by Cointelegraph.