Bitcoin's price (BTC) remains in sideways motion as traders await if price could potentially break above the 19,000 resistance area. Currently, price is trading around 19,300 with immediate levels at around 18,200 as support (10 EMA trail in 1D) and 19,800 as resistance. A break below 18,000 could push price back to 17,000 - 16,000 support levels. However, a breakout is still in the cards as price is still hovering near 19,800.
Global market cap is at $574B, while BTC's market cap is at $359B.
Senior officials at the Bank of Russia are opposed to the issuance of private stablecoins pegged to the Russian ruble, and have been saying that the bank aims to ban private firms from offering stablecoins. Russian crypto developers will only be able to use the Bank of Russia's digital ruble, according to the first deputy governor of the central bank, Sergei Shvetsov. Shvetsov referred to China's digital yuan-related regulations that criminalize the issuance of yuan-backed stablecoins by third parties, that "the bank will suppress everything that is positioned as a means of payment."
The Bank of Russia officially released a roadmap for the digital ruble in October 2020, and the digital ruble should become an additional form of money alongside cash.
BlackRock's CEO Larry Fink recently spoke on Dec. 1 at the Council on Foreign Relations about Bitcoin being in the company's radar following the cryptocurrency's massive run over the past months. "Bitcoin has caught the attention and imagination of many people. Still untested, pretty small relative to other markets", said Fink. In addition, Fink posed a question saying, "Can it evolve into a global market? Possibly." Fink isn't the only BlackRock executive who spoke about the potential value of Bitcoin as the company's chief investment officer, Rick Rieder also said that "BTC will take the place of gold to a larger extent."
This remark is notable as BlackRock is the world's largest asset manager with assets under management worth $7.4 trillion as of Q4 2019. The company has an indirect exposure to Bitcoin (BTC) through MicroStrategy with a 15.2% stake in the company.
Visa has teamed up with blockchain services company Circle to make USD Coin (USDC) stablecoin transactions compatible with certain credit cards. According to a Forbes article, "Visa will issue a credit card that lets businesses send and receive USDC payments directly from any business using the card," once Circle graduates from Visa's Fast Track program. Visa's head of crypto, Cuy Sheffield, told Forbes that "This will be the first, corporate card that will allow businesses to be able to spend a balance of USDC."
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