Daily Crypto NewsEDITION #168, 09 March 2021

Crypto for Billionaires?

Hey #Moni Maker 🙃

Today, in 2011, Discovery Shuttle ended its 27-year career with a successful final landing at Kennedy Space Center in Florida. Now that's what we call a long-term project. But we all know a project with an even more distant time horizon. The last bitcoin will be created in over 100 years. Are you ready to HODL? We should not forget about the nearest future though...

Let’s go!

Crypto investment company New York Digital Investment Group (NYDIG) has reported closing a $200 million round of fundraising with participation from Stone Ridge Holdings Group, Morgan Stanley, New York Life, MassMutual, Soros Fund Management and FS Investments.

NYDIG provides bitcoin buying and holding services and is a division of Stone Ridge Asset Management, which manages $10 billion in capital.

Recall that in December 2020, NYDIG helped American insurance corporation MassMutual invest $100 million in bitcoin and received a $5 million investment from it. In February, Gutmann said that by the end of this year they expect to raise $25 billion in BTC under management.

So what?

Are the big guys trying to save money or keep up with the winds of change? The question is rhetorical and has no one right answer.

Smartphone and mobile app developer Meitu bought 379 BTC ($18 million) and 15,000 ETH ($22 million) to diversify its investment portfolio.

The company plans to invest up to $100 million in cryptocurrencies from its own reserves, according to a document published by Meitu. Subsequent purchases or sales of cryptocurrencies will be in line with the company's investment plan and market conditions.

Meitu has compared blockchain to the emergence of the Internet and believes it can bring qualitative changes to the financial and technology industry. And in addition to its importance in technological terms, Meitu sees cryptocurrencies as a necessity because of the "aggressive" printing of money by various central banks, which leads to the depreciation of fiat currencies.

Norwegian holding company Aker ASA specializes in construction and oil production and has recently been investing in green energy and information technology. Aker shares are listed on the Oslo Stock Exchange 66.7% owned by billionaire Hjell Inge Rekke.

The crypto division of the holding company is called Seetee. Seetee had a start-up capital of 500 million kronor ($58 million). Seetee put the resulting investment into bitcoin, buying 1,170 BTC.

"Bitcoin could still fall to zero. But it could also become the core of a new monetary architecture. It is quite possible that the price of digital gold will one day reach millions of dollars. The trend is clear - traditional finance will suffer the same fate as fossil fuels." - Rekke wrote in a letter to shareholders.

The division will also engage in mining the first cryptocurrency and search for partners among the leading players in the industry, the first partner was Blockstream.

According to CryptoRank total trading volume on the top 100 exchanges exceeded $1.64 trillion. This is a new record high.

In first place, as expected, is Microstrategy, but Meitu, which recently joined the supporters of cryptocurrencies, takes 10th place.

And you...buy Bitcoin! 😉