DZ Bank, Germany’s second-largest bank, is gearing up to introduce a cryptocurrency trading pilot later this year, as reported by Bloomberg. Souad Benkredda, a board member, shared that the bank, serving as the central institution for approximately 700 cooperative lenders, aims to list various cryptocurrencies. The offering is specifically designed for customers capable of making investments “without advice.” According to Benkredda, a study conducted by the Genoverband reveals that half of the banks are interested in providing cryptocurrency solutions for their customers, though each institution will independently decide its course of action.

DZ Bank, based in Frankfurt with $627 billion in assets under management, had previously launched a cryptocurrency custody platform in November. This move followed the bank’s announcement that it would leverage Metaco’s technology solution for developing crypto-related services. DZ Bank’s foray into cryptocurrency trading aligns with the global trend of institutional adoption, as evidenced by recent approvals for spot exchange-traded funds (ETFs) from industry giants like BlackRock and Fidelity in the U.S., facilitating substantial trading volumes in the cryptocurrency market.

Bloomberg

In its annual Big Ideas report for 2024, Cathie Wood’s ARK Invest highlights Bitcoin (BTC) as an essential diversifier for investment portfolios, advocating for an allocation just under 20%. Over the past seven years, Bitcoin has outperformed major asset classes with an annualized return that suggests a 19.4% portfolio allocation in 2023 would maximize risk-adjusted returns. This allocation has significantly increased from 0.5% in 2015 and 6.2% in 2022, underscoring Bitcoin’s growing importance in the investment landscape.

ARK Invest emphasizes Bitcoin’s role not just as an investment option but as a crucial component for diversification, offering unique growth potential among digital assets. With a low five-year correlation to traditional assets, Bitcoin presents notable diversification benefits. Minimal allocations by institutional investors could significantly impact its price, considering the vast $250 trillion global investable asset base.

The report also references Bitcoin’s 77.8% increase over the last year and attributes its recent success to heightened institutional demand.

Source

Tether Holdings Limited, the company behind the Tether USDT stablecoin, reported a remarkable net profit of $2.85 billion in Q4 2023, culminating in a yearly profit of $6.2 billion. This financial success is attributed to strategic investments, including $4 billion from U.S. Treasury bonds and diversified assets like Bitcoin, gold, and venture capital. The company’s astute focus on stable and high-quality assets like T-bills and gold reserves has paid off, positioning Tether as one of the world’s top buyers of U.S. Treasury bills. These efforts were part of Tether’s response to the previous year’s crypto market volatility, enhancing its financial resilience. Additionally, Tether’s collaboration with the U.S. Federal Bureau of Investigation showcases its commitment to regulatory compliance. With USDT tokens representing over 70% of the stablecoin market, Tether emerges from 2023 not just unscathed but as a dominant force in the crypto sphere.

Source

Announced today, Tether, the leading stablecoin issuer, has emerged with a robust balance sheet showcasing ownership of over $2.8 billion in Bitcoin. The information comes to light following an audit conducted by BDO, a renowned auditing firm, as detailed in the official auditor’s report.

The audited report provides a comprehensive analysis of Tether’s financial standing, including more information on its Bitcoin holdings. Tether, known for its stablecoin USDT, has consistently played a massive role in the cryptocurrency market, facilitating transactions and maintaining a peg to the US Dollar.

“At Tether, we look forward to great 2024, with many new projects and products ready to come…

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So, 2023 has been pretty epic for Bitcoin. It’s like Bitcoin woke up and decided to flex its muscles big time. We’re talking a massive leap, over 140% in value – that’s huge! It’s not just about topping traditional rivals like gold; it’s also about leaving other cryptocurrencies in the rearview mirror. Let’s dive into the on-chain action and the exchange buzz, trying to piece together clues to see what Bitcoin might be up to in the coming year.

Bitcoin’s Blast from the Past

According to Glassnode’s report, we’re seeing a déjà vu with Bitcoin cycles in 2015-2017 and 2018-2022 in terms of how long it’s taking to bounce back and the drawdown since the all-time high (ATH).

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In a world where digital innovation is key, Bitcoin emerges as a innovator, redefining our approach to finance, law, and technology. This pioneering cryptocurrency does more than just offer a medium of exchange; it is a masterclass in interdisciplinary learning.

From the complex algorithms and cryptographic security central to computer science, to the economic principles of supply and demand, Bitcoin operates at the intersection of several fields. Its decentralized nature challenges traditional financial systems, inviting a re-evaluation of what we consider as ‘value’ in an evolving economy.

Energy consumption in Bitcoin mining underscores the pressing need for renewable energy solutions, pushing the envelope in sustainable tech. Additionally, it navigates legal landscapes, carving out a new legal paradigm for digital assets.

Bitcoin isn’t just a currency; it’s a cutting-edge educational tool that teaches us to think critically about the interplay of technology, economy, and society.

Disclaimer: Market capitalizations and data can vary in real-time. The information provided here is intended purely for educational purposes and should not, under any circumstances, be construed as financial advice.

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Today, Volksbank Raiffeisenbank Bayern Mitte eG, a Bavarian cooperative bank with an ~130-year history, has entered into a long-term partnership with terahash.energy GmbH, according to a press release sent to Bitcoin Magazine. The Ingolstadt-based cooperative bank and the young startup, terahash, will collaborate on promoting topics related to Bitcoin and develop new offerings.

“We are expanding our options as part of our Bitcoin strategy with terahash’s broad expertise in Bitcoin and mining,” said Andreas Streb, Deputy Chairman of the Board of VR Bank Bayern Mitte eG. “Together we can educate and develop solutions for our customers.”

Since April 2022, VR Bank Bayern Mitte eG has…

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