Hong Kong stock index extended a decline sparked by China’s tech crackdown. Tesla posted better-than-expected results. Jump in!
Tesla will be sold for bitcoins
The BTC skyrocketed to $50 000 but dropped just below this level as investors started closing orders to take profit. The total crypto market cap has surpassed $1.5 trillion. That rally was triggered by a seismic shift in investors’ attitude.
Why is it important?
More and more big players such as large corporations and Wall Street fund managers changed their minds towards digital assets and started taking them seriously. Here are few examples.
- Tesla’s Elon Musk invested $1.5 billion in bitcoin and pledged to soon accept payments in the BTC.
- MasterCard uncovered its plans to let its customers “move digital value — traditional or crypto — however, they want”.
- Bitcoin wallet BitPay's users in the US can now add their BitPay card to Apple Wallet. Apple Pay will allow paying in the bitcoin in stores and apps.
- PayPal has already offered users in the US to buy, sell and hold cryptocurrencies directly through its system.
- According to Bloomberg, Morgan Stanley is also weighing a bet on bitcoin.
Moreover, these companies are going to benefit from their appeal to cryptocurrencies. For example, PayPal has already surged by nearly 40% since it announced payments in crypto. Apple should be the next one to gain. One by one, big companies will join the crypto world.
No doubt that cryptocurrencies will rally further up, and the king bitcoin especially. Now BTC/USD takes a breath, but in the upcoming week, it has all chances to surpass the $50 000 threshold.
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The overall market sentiment is risk-on. The S&P 500 index (US 500) is getting close to the all-time high. Oil is recovering quickly from its recent losses.
Moderna rocketed after an announcement that it is going to join the S&P 500 index. The New Zealand dollar surged after the nation’s inflation surpassed the central bank’s target level.
The Fed held a much-awaited meeting yesterday. The bank hasn’t made any policy changes. As a result, the USD weakened and EUR/USD rocketed. Jump in to know all the latest news!
What will happen? The US Q2 Gross Domestic Product will be announced at 15:30 MT time (GMT+3) on Thursday, July 29…
Today the Fed will make a policy statement at 21:00 GMT+3. This event will affect all the currency pairs with the USD and thus almost the all Forex market!