Market Insights

Signs of high levels of inflation are becoming more apparent for economies across the globe. The Bitcoin space experienced notable steps towards adoption, which included the creation of a cryptocurrency trading desk by Goldman Sachs.

Joe Biden reiterated his plans for a large increase to capital gains taxes. Major financial institutions, including Visa, Mastercard, and U.S. Bank, are adding Bitcoin support.

Joe Biden announced plans for a large increase on the country’s capital gains tax. The U.S. economy continues to recover as vaccinations support the reopening of many industries. Bitcoin prices retraced from previous highs before stabilizing around $50,000.

Coinbase made a direct listing this week, giving Bitcoin markets a temporary boost. Turkey banned Bitcoin payments as the currency began to outperform the local lira. Bitcoin receives support from both sides of the U.S. government.

Coinbase’s financials speak to the rapid growth experienced in cryptocurrency markets. Large institutions continue finding ways to add Bitcoin to their investment thesis or product offering. The Biden Administration continues to push additional spending measures.

The U.S. government pushes a plan to inject several trillion dollars into the economy, despite clear signs of economic recovery. Several major banks have officially begun integrating Bitcoin into their investment plans and product offerings.

Elon Musk announced U.S. customers can buy a Tesla with bitcoin. Fidelity, Goldman Sachs, and VanEck recently filed with the SEC for a Bitcoin ETF. President Joe Biden revealed plans for a $3 billion infrastructure and domestic needs after the recent $1.9 trillion stimulus package.

Morgan Stanley announced plans to offer certain clients access to Bitcoin through Bitcoin funds. Deutsche Bank has signaled strong interest in Bitcoin as an investment and a global currency. Yields rise and consumer spending increases dramatically in many sectors.

The passage of a $1.9 trillion stimulus package is likely to accelerate early inflation as the economy begins to recover. Bitcoin saw significant price appreciation this week, briefly reaching new all-time highs. Major banks continue looking for ways to offer Bitcoin exposure to clients.

Inflation concerns are exacerbated by the Senate’s approval of a $1.9 trillion stimulus package. Institutional investors look to Bitcoin to diversify portfolios and hedge against inflation. Goldman Sachs is preparing to trade cryptocurrencies and Bitcoin derivatives.

Bitcoin prices pulled back this week, despite continued adoption from technology and investment companies. Economic indicators of future inflation pop up as the House passes a $1.9 trillion stimulus deal.

Bitcoin prices continue to surge to new all-time highs, reaching a market capitalization of $1 trillion over the weekend as institutional adoption progresses.

BNY Mellon announced plans to support Bitcoin payments and custody, adding significant credibility to the currency. The move contributes to speculation that many large technology companies and financial institutions will look to gain Bitcoin exposure in the near future.

Economies around the world continue unprecedented spending measures as more debt instruments are pushed into negative yields. Tesla announced a $1.5 billion investment into Bitcoin as well as plans to accept the currency as payment from customers.

GameStop’s trading activity has sparked a battle between individual investors and Wall Street incumbents. Notable company leaders, including Elon Musk, continue to warm up to potential use cases and investments in Bitcoin.

The Biden administration has taken office and plans for a new relief package are already underway. BlackRock has opened the door for certain funds to begin investing in Bitcoin futures.

The presidential transition continues to create uncertainty for the economy and investors. Bitcoin experienced significant price appreciation to new all-time highs, followed by a notable correction.

Bitcoin received significant attention from institutional investors and government actors in 2020. This resulted in consistent price appreciation for the currency, during an economically turbulent year with few safe, high-yield investment opportunities.

River Financial CEO Alexander Leishman discusses the biggest moments of 2020 for Bitcoin, as well as what the new year holds for River Financial and Bitcoin.

MassMutual allocates $100 million of its general account to Bitcoin. The investment was sparked by low and negative yields on safe securities globally, and fears of fiat currency inflation.