Cryptocurrencies

• [New] Digital currency bitcoin has emerged as a rival to gold and could trade as high as US$146,000 (C$185,223) if it becomes established as a safe-haven asset.
• [New] Digital currency bitcoin has emerged as a rival to gold and could trade as high as $146,000 if it becomes established as a safe-haven asset.
• [New] Gold and bitcoin could continue to rise as governments and central banks are unlikely to slow or halt liquidity-boosting programs launched in 2020 to counter the coronavirus-induced recession.
• The world's CO2 levels hit new highs last year, a trend that is expected to repeat itself in 2020 despite coronavirus-related lockdowns that have forced a global industrial slowdown.
• From 2021, PayPal plans to allow its users in the US to pay with bitcoin.
• MicroStrategy raised $650 million to buy more bitcoin, expected to take its holdings to over $1 billion, triggering a fresh wave of bullishness among crypto investors.
• Bitcoin is a store of value, like digital gold, and will unlikely be used as traditional currency for the next five years.
• The cryptocurrency market has erupted into a $200 billion industry, sparking a wave of global disruption.
• Cryptocurrency has erupted into a $200 billion industry, sparking a wave of global disruption.
• S&P Dow Jones announced this month that it will launch cryptocurrency indices in 2021, paving the way for cryptocurrencies to become more mainstream investments.
• 2020 will be a breakout year for bitcoin, fueled by the U.S. presidential election and the weak dollar.
• With the gold market at just over $10 trillion, about a $1 trillion market cap for the benchmark crypto may be attained by 2022 if Bitcoin follows the regression line since first reaching $10 billion in 2013.
• With an average growth rate of 13.2%, the global gambling market is expected to grow to $94 billion by 2024, thanks in part to the increased adoption of cryptocurrency as demonstrated by the growing number of new Bitcoin casinos being added regularly.
• One in 10 central banks - representing approximately one-fifth of the world's population - expect to issue their own digital currencies within the next three years.
• The utility of cryptocurrencies will gain a major boost next year when PayPal makes cryptocurrencies available as a funding source for purchases.
• The global cryptocurrency market is estimated to be valued at US$ 189.9 billion in 2017 and is expected to witness a CAGR at 56.2% during the forecast period (2017-2025).
• Another 15% of PayPal users intend to purchase or invest in cryptocurrency in the next 12 months - and half of them expect to make retail purchases with Bitcoin in the next year or two.
• The next ten years will bring us key changes in traditional finance when blockchain and cryptocurrencies will become a daily thing in most countries of the world.
• In 2020, cryptocurrency will celebrate its 12th year of existence and has become a force to be reckoned with in the global financial industry, which is becoming increasingly standardized and compliant.
• Technology commentators are predicting that 2020 is going to see an acceleration of new tech entering the market including 5G wireless connectivity, blockchain technology (beyond cryptocurrency) and AI/ML.
• Bitcoin ATM Market is expected to reach USD 147.9 million by 2025 from USD 7.1 million in 2017 and is projected to grow at a CAGR of 56.9% in the forecast period of 2018 to 2025.

Last updated: 10 January 2021