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On Friday, Bitcoin along with other key crypto assets managed to surge a bit in Asia. Besides this, Ohio is braced for becoming the first state in America to accept digital coins for tax payments.
As a matter of fact, on the Investing.com index, Bitcoin headed north by up to 1.58% ending up with a reading of $4,308.7 by 12:41 PM ET. Besides this, the world’s number two crypto asset, Ethereum managed to ascend by about 0.04% trading at $119.02. As for XRP, this digital coin rallied by up to 0.12% being worth $0.38 on the Poloniex exchange.
In addition to this, on the Bitifinex exchange, Litecoin rallied by up to 2.11% coming up with a result of $33.9 .
Bitcoin maintained a minor momentum that was gained in mid-week in the face of a 40% dive in its value since mid-November. In 2018, the market value of Bitcoin has gone down by nearly 80%, and market participants saw a sell-off this month provoked by Bitcoin cash.
On Friday, it was announced that Ohio is braced for becoming the first American state to officially accept crypto assets in tax payments.
Josh Mandel, Ohio’s State Treasurer gave the green light to the crypto world, letting businesses pay taxes utilizing Bitcoin.
So, state officials will enable businesses in Ohio to register as well as settle their tax liabilities online, while crypto payment service provider BitPay is going to process all the payments. As a result, the crypto asset will be converted into American dollars.
Moreover, Mandel told that the move is expected to inspire a wider adoption of crypto assets in the United States.
From his point of view, that’s a good illustration of this concept. While, this idea is just starting to settle in Ohio, but the key objective is to inspire the federal authorities to follow suit.
During the daily press briefing of Andres Manuel Lopez Obrador, it was announced that Mexico will receive 1.4 million doses of the vaccine by the end of January. Is that optimistic enough for the peso?
The US unemployment claims are announced on Thursday at 15:30 MT time.
The Canadian monthly GDP is announced on Wednesday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.
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