The Crypto Weekly – November 1st, 2019

<2020 Will Be The Start Of Bitcoin’s Payment Popularization> Bakkt unveiled the blueprint on digital asset payments, announcing the launch of their consumer payment app. Bakkt has partnered with Starbucks to launch payment-related services in the first half of 2020. We believe Starbucks will be the first store to lead the popularization of Bitcoin payments thanks to its large amount of mobile payment app users (as of 2019, 25.2m US Starbucks mobile payment users) and sizable deposits (Starbucks’ mobile app had deposits worth USD 1.2b as of 2016 in US). To solve Bitcoin’s scalability problem, we believe Bakkt and Starbucks are likely to utilize off-chain solutions. Meanwhile, other companies are striving to popularize bitcoin payments. For example, Twitter and Square’s CEO Jack Dorsey is looking for ways to innovate with Bitcoin payments using the Lightning Network rather than issuing its own digital currency like Facebook’s Libra. In addition, Fidelity, which believes Bitcoin will be a digital money, has recently acquired payment company Worldpay for USD 35b. Currently, the popularization of Bitcoin payments seems distant, but global companies with enormous user bases and capital are entering this area. Starting with Starbucks, we expect that the number of major stores that support Bitcoin payments will gradually increase, and 2020 will be the first year of the popularization of Bitcoin payments. Please check the link below for more detailed information. Thank you! https://cpresearch.page.link/CryptoWeekly191101ENG — Those who want to subscribe our report, please see the link below. http://bit.ly/cpletter

The Crypto Weekly – October 25th, 2019

<Bitcoin Mining War> The fact that Chinese mining companies dominate more than 50% of the Bitcoin hashrate is making US institutional investors reluctant to directly invest into Bitcoin. To address these concerns, US capital is beginning to take action, with US mining company Layer 1 attracting USD 50m from investors such as Peter Thiel and Digital Currency Group. Layer 1’s mission is to gain market share from Chinese companies like Bitmain, increasing the U.S.’s share of Bitcoin’s hashrate from just under 5% to 15%, and likely making Bitcoin a multi trillion-dollar asset class in the process. Meanwhile in August, Blockstream, which is based in North America, announced plans to contribute to the decentralization of Bitcoin mining via launching its own service and has secured Fidelity as a client. In addition to private companies, Iran and Venezuela are even considering legitimizing Bitcoin mining at the national level and may even allow their central banks to hold the asset. As Bitcoin’s mining competition intensifies, the hashrate and difficulty of mining will increase, and Bitcoin’s scarcity will be highlighted around the upcoming May 2020 halvening. Please check the link below for more detailed information. Thank you! https://cpresearch.page.link/CryptoWeekly191025ENG — Those who want to subscribe our report, please see the link below. http://bit.ly/cpletter

The Crypto Weekly – October 18th, 2019

<Bad News for Telegram and Facebook is Positive for Bitcoin> Global companies trying to issue digital money are facing an increase in regulatory pressure. Telegram, which raised USD 1.7b through its ICO, hoped to enable mass adoption with its 300 million plus users. The US SEC, however, sued Telegram for attempting to launch TON, which was scheduled for late October, and is now delayed until April of next year. Facebook’s Libra is also having a hard time with its partners. The Financial Stability Board (FSB) told the G20 financial authorities that crypto assets are harmless and innovative but that global stable coins may threaten financial stability. Global companies are having a hard time releasing digital money because they are not able to escape the effects of political interests and regulations. We believe that this situation is good for Bitcoin, which includes: 1) the absence of a legal entity to hold legal liability (such as Satoshi Nakamoto’s); 2) a decentralized global network; 3) political and commercial neutrality. Without any intervention, Bitcoin’s hashrate is going beyond 100 TH / S and network security is higher than ever. Please check the link below for more detailed information. Thank you! English report https://cpresearch.page.link/CryptoWeekly191018ENG Those who want to subscribe our report, please see the link below. http://bit.ly/cpletter

The Crypto Weekly – October 11th, 2019

<The Rise of the Chinese Digital Yuan and Libra’s Crisis> Facebook’s ambitious digital currency project Libra is in a crisis. PayPal has declared its withdrawal from the Libra Association. Big US banks are pressuring the Fed to stop Facebook Libra from becoming a “shadow banking system.” In Europe, France and Germany oppose the use of Libra, and have implied that they will develop their own digital euros. Despite the various issues, the Libra Association aims to launch in the second half of 2020. Unlike Facebook’s Libra, which is struggling, China’s Digital Yuan project seems to be making steady progress. Please check the link below for more detailed information. Thank you! https://cpresearch.page.link/CryptoWeekly191011 — Those who want to subscribe to our report, please see the link below. http://bit.ly/cpletter

The Crypto Weekly – October 4th, 2019

<Bitcoin as a Central Bank Reserve Asset> According to Bloomberg, Venezuela is considering including Bitcoin in its central bank reserves and using it as a payment method. Venezuela’s recent interest in Bitcoin stems from the United States’ economic sanctions on the country and the collapse of its currency’s value. The world’s central bank’s foreign reserves are valued at USD 11.7t (61.6% and 20.4% of the dollar and euro, respectively, as of Q2 2019) and gold reserves are valued at USD 1.6t (USD 1,481 per ounce as of September, 2019). The Bolivar is plunging and Venezuela’s share of gold in the reserves is only 0.5%. Given the situation, including Bitcoin in the reserves can be a breakthrough move. Please check the link below for more detailed information. Thank you! https://cpresearch.page.link/CryptoWeekly101004 — Those who want to subscribe to our report, please see the link below. http://bit.ly/cpletter