Daily Crypto Brief for Wednesday, December 2, 2020, by ITB Media

This is your ITB Media Daily Crypto Brief for Wednesday, December 2, 2020.

In #MainstreamFinancial News.

#CNBC reports: Here’s how early crypto investor Mike Novogratz sees the bitcoin trade unfolding next year - https://cnb.cx/39CgObM

In an interview on CNBC’s “Squawk Box,” Novogratz said he believes bitcoin will eventually begin to trade with more stability as additional institutional investors adopt the digital coin as part of their portfolios.

“We’ve seen a real shift in the kind of hands that are buying it,” said Novogratz, one day after bitcoin topped $19,800 and took out its 2017 record high. “Ninety-nine percent of total ... crypto transactions in the 2017 run were individuals, and as you’re starting to see that shift to deep pockets and more stable hands, I think you’re going to see less volatility in the space.”

#Bloomberg Headline: Bitcoin Drops From All-Time High After Failing to Hit $20,000 - https://bit.ly/33zeiPV

Bitcoin pared a drop after earlier flirting with the $20,000 level and falling back as investors took profits from its surge this year. The digital asset was little changed at about $19,232 as of 8:42 a.m. in London on Wednesday.

#AsiaTimes Reports: US should not adopt China’s crypto model: Ferguson - https://bit.ly/3fW9rNK

The United States should adopt its own approach to cryptocurrency adoption, rather than building its “own versions of China’s electronic payments systems,” British economic and financial historian Niall Ferguson said on Sunday in an opinion piece for Bloomberg.

#WallStreetJournal Headline: Bitcoin Price Hits All-Time High Above $19,000, Topping 2017 Record - https://on.wsj.com/3mqGzPU

The digital currency rose as high as $19,834.93, according to CoinDesk, topping the previous intraday record of $19,783.21 set Dec. 18, 2017. Bitcoin has nearly tripled in 2020 and is up more than 90% since early September. It closed Monday at $19376.18, up 6.1%.

#Forbes Headline: New U.S. Treasury Secretary Nominee Janet Yellen Made A Serious Bitcoin Warning - https://bit.ly/37twAmC

"[Bitcoin] is not a stable store of value and it doesn’t constitute legal tender," Yellen told reporters at a press conference at the height of bitcoin's massive 2017 bull run. "It is a highly speculative asset."

In #SocialMedia headlines

Altcoin Daily (YouTube) posts a video titled: CRYPTOCURRENCY HOLDERS - DO NOT BE FOOLED! $290M Liquidated Causing Extreme Bitcoin Volatility!

The Moon (YouTube) reports: URGENT!! BITCOIN EXTREME VOLATILITY HAPPENING RIGHT NOW!.

Data Dash (YouTube) posts a video titled: Bitcoin Inches Away From $20K. Livestream.

On Crypto Zombie (YouTube): HOLY SH!!T!! BITCOIN JUST DID SOMETHING INCREDIBLE!!!! WHAT HAPPENS NEXT WILL SHOCK YOU!

In #CryptoPublications headlines,

#Cointelegraph reports: Ten crypto leaders are in the new Forbes 30 Under 30 list - https://bit.ly/36uG01V

Ten of the youthful business leaders featured in this year's Forbes’ 30 Under 30 list work in blockchain and cryptocurrency, highlighting increasing acceptance of the industry from the mainstream media.

#Coindesk headline: Ethereum 2.0 Beacon Chain Goes Live as ‘World Computer’ Begins Long-Awaited Overhaul - https://bit.ly/3oaxH1a

Ethereum 2.0 Beacon Chain Goes Live as 'World Computer' Begins Long-Awaited Overhaul. Serenity is knocking. The first stage of the next-generation proof-of-stake (PoS) Ethereum 2.0 is now live as of 12:00 UTC Tuesday, according to Beaconcha.in.

#Cryptonews reports on its front page: Bitcoin Makes US Dollar Less Relevant - BlackRock CEO - https://bit.ly/37oSFTv

While the most popular cryptocurrency, bitcoin (BTC) is still an untested territory, it possibly can evolve into a global market, and already makes the US Dollar less relevant, according to Laurence D. Fink, CEO of the world’s largest asset manager, BlackRock. He was answering a question on digital currencies during The 2020 Stephen C. Freidheim Symposium on Global Economics on December 1.

"Having a digital currency has a real impact on the US Dollar," Fink said, while former Bank of England Governor Mark Carney, who was also participating in this discussion, seemingly agreed with this statement.

This has been your ITB Media Daily Crypto Brief for Wednesday, December 2, 2020. Subscribe to #ITBiometrics for daily #cryptocurrency headlines.

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