1) Facebook renames Libra to Diem and plans to launch it in 2021.
Facebook has rebranded its stablecoin project from Libra to Diem. The head of Facebook Financial (F2) at Singapore Fintech Festival 2020 said that both cryptocurrency Diem and related crypto wallet Novi may launch next year and at present Facebook is waiting for regulatory approvals. He also said:
I don’t think what we are asking for is just immediate trust. I think […] what we’re asking for is at least to have the benefit of the doubt […] I think all of those things that we’ve done — which has created all kinds of complications in the execution of this vision — is I think a good reason to give us the benefit of the doubt in terms of our intentions and what we plan to do here.
2) SBI and SIX want to “establish a powerful institutional corridor between Europe and Asia”.
SBI’s digital asset branch and SIX, Switzerland’s principal stock exchange announced their plans for Singapore based joint venture. This platform will focus on institutional investors including services like issuing, listing, trading, CSD infrastructure and custody of digital assets and cryptocurrencies, and regulated digital asset securities. Yoshitaka Kitao, the CEO of SBI Group and chairman of SBI Digital Asset Holdings said:
This is an important step in building the necessary global infrastructure for widespread institutional adoption of digital assets. SBI Group is a natural partner for SIX given their strong position in Asia and their significant commitment to growing institutional digital asset markets.
3) MicroStrategy announced securities offering to raise $400 million to invest in BTC.
MicroStrategy, one of the world’s largest publicly traded business intelligence firms announced securities offering to raise $400 million to invest in BTC. In this the firm will issue $400 million in convertible senior notes that can be converted into the issuing company’s shares, The company will also pay semi-annual interest to the note-holders until December 2025. MicroStrategy disclosed:
Microstrategy intends to invest the net proceeds from the sale of the notes in Bitcoin.
4) “Bitcoin and crypto will transform money, the Internet and so much of the world around you.” – Winklevoss.
During Singapore FinTech Festival 2020 Cameron and Tyler Winklevoss said:
Apple started in a garage in Silicon Valley, I think Facebook started in a dorm room […] you have to be careful that overhead is not so large that a lot of people can’t innovate in this space. If people want to buy Bitcoin, their value right is usually not in crypto because crypto is new. So you have to build a bridge between bands and this new world of crypto and you need banks to do that. Pay attention to Bitcoin and crypto and educate yourself, because this is the greatest money and technological revolution since the Internet itself. It’s not a fad, it’s here to stay — and it will transform money, the Internet and so much of the world around you. And it’s just starting.
5) CEO of U.S. Global Advisors – 2021 will be a tremendous year for Bitcoin and Ethereum.
Frank Holmes, CEO of U.S. Global Advisors believes crypto assets like Bitcoin will perform really well in 2021 and the adoption level will increase. For Bitcoin, he gives the credit to May’s deflationary halving event. He said:
The number of wallets, people that are embracing Bitcoin, that’s been growing for the past three years. Nice steady growth. If tomorrow, if all the gold mines in the world said we’re going to cut supply by 50%, I can assure you gold will be at $10,000.