Bitcoin hit a record-high near US$45,000 on Monday after Elon Musk’s electric carmaker Tesla invested US$1.5 billion in the digital currency.
Bitcoin hit US$44,795.20 Monday morning, before cooling slightly to US$44,207.95.
The cryptocurrency is up by around 50 percent since the start of the year.
“This is probably one of the biggest developments for the cryptocurrency industry,” noted Fawad Razaqzada, analyst at ThinkMarkets.
“Tesla is going to be a major player in the auto industry and if it starts accepting bitcoin as a form of payment, it will give the digital currency further legitimacy.”
Tesla’s announcement, in a US Securities and Exchange Commission document, is a sign of confidence in the cryptocurrency that regulators are concerned could be used for illegal transactions.
“As more and more companies start accepting bitcoin, this will only lead to further increases in demand in a market which is limited in supply,” Razaqzada added.
“Therefore, the long-term outlook on bitcoin remains bullish even if it is starting to look quite expensive in fiat currency terms.”
Tesla’s move comes after CEO Musk last week changed his Twitter bio to read simply “#bitcoin”.
Just 12 years old, bitcoin has seen a meteoric rise since March, when it stood at $5,000, spurred by online payments giant PayPal saying it would enable account holders to use cryptocurrency.
A number of central banks have responded to the rise of cryptocurrencies and the dwindling global use of cash by announcing plans for bank-backed digital units.
Unregulated by any central bank, bitcoin emerged as an attractive option for investors with an appetite for the exotic — although criminals have also picked up on its under-the-radar appeal.
Debate has raged over the status of the digital asset, launched in late 2008, as to whether it should be seen as a form of money, an asset or a commodity.
After the unit — worth a handful of cents in late 2008 — surpassed $1,000 for the first time in 2013, it increasingly began to attract the attention of financial institutions and has experienced wild price swings.
Tesla’s move is “the kind of backing that can take bitcoin through $50,000”, remarked Neil Wilson, chief market analyst at Markets.com.
It nonetheless raises “questions for fund managers who may not want to invest in a company with this kind of risk on its balance sheet — we know bitcoin is very volatile”, he added.
Walter GAM acquires leading farmland investment firm – Wealth Professional
In light of the current volatility in stock markets and low yields in the fixed-income space, investment in farmland has become increasingly attractive to institutional and private investors. The high-quality, in-demand asset class offers the promise of stable, uncorrelated returns along with an effective hedge against inflation.
“In Walter GAM, Bonnefield has found an ideal partner to help us achieve our long-term vision for our company,” said Bonnefield President and CEO Tom Eisenhauer. “In addition, Bonnefield should benefit from Walter Global Asset Management’s multifaceted support through its next ambitious stage of growth, while creating with this transaction a true win-win situation for all of our stakeholders.”
Bonnefield will remain independently operated by its existing management team, who will also be getting an increased stake in the firm as it aims to grow employee ownership over time. The management team will also have the opportunity to access expertise provided by Walter GAM as they leverage Bonnefield’s leading position to boost growth and achieve its full potential.
The transaction is also anticipated to result in greater access to capital for Canadian farmers, both from Bonnefield’s existing farmland purchase and lease offerings as well as future product offerings to help farmers grow, transition, and mitigate financial risk in their businesses.
For its part, Bonnefield has pledged to continue its role as an active participant in Canadian agriculture, dedicated to protecting farmland for farming and enhancing the long-term sustainability of Canadian agriculture.
BTV Shares Investment Opportunities in Canada's North – Investing News Network
On national TV Sat. Mar 6 & Sun. Mar 7, 2021 – Invest Canada North! BTV-Business Television presents resource companies in Canada’s north.Cannot view this video? Visit: Preview: YouTube BTV Live Premiere 1pm PST today + Meet the Hosts of BTVClick here to set a reminder! Discover Companies to Invest InOsisko Metals Inc. – As sustainability and electric transportation rise in popularity the demand for zinc increases …
On national TV Sat. Mar 6 & Sun. Mar 7, 2021 – Invest Canada North! BTV-Business Television presents resource companies in Canada’s north.
Cannot view this video? Visit:
Sneak Preview: YouTube BTV Live Premiere 1pm PST today
+ Meet the Hosts of BTV
Click here to set a reminder!
Discover Companies to Invest In
Osisko Metals Inc. (TSXV: OM) (OTCQX: OMZNF) – As sustainability and electric transportation rise in popularity the demand for zinc increases and this company is poised to take advantage.
Sabina Gold & Silver Corp. (TSX: SBB) (OTCQX: SGSVF) – BTV visits this company moving towards opening their first gold mine in Nunavut.
NorZinc Ltd. (TSX: NZC) (OTCQB: NORZF) – BTV learns why this company’s high-grade zinc-lead and silver mine is on track to be the next development mine in the Northwest Territories.
Victoria Gold Corp. (TSX: VGCX) (US: VITFF) – BTV gets an update on the company’s Eagle Gold Mine in central Yukon on target to produce between 180K- 200K ounces of gold in 2021.
White Gold Corp. (TSXV: WGO) (OTC: WHGOF) – This company boasts a district-scale land package in the Yukon and its flagship property has shown significant defined gold resources.
On air for over 20 years, BTV – Business Television, a half-hour investment TV show, features analysts and emerging companies on location. With Hosts, Taylor Thoen and Jessica Katrichak, BTV brings viewers investment opportunities.
TV BROADCAST NETWORKS and TIMES:
BNN Bloomberg – Saturday Mar 6 @ 8:00pm EST, Sunday Mar 7 @ 4:30pm EST
Bell Express Vu – Saturday Mar 6 @ 8:00pm EST, Sunday Mar 7 @ 4:30pm EST
US National TV:
Biz Television Network – Sun Mar 14 @ 8:30am EST
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/76059
News Provided by Newsfile via QuoteMedia
Vinergy adds Blockchain Expert to Strengthen Investment Committee – Regina Leader-Post
VANCOUVER, British Columbia, March 04, 2021 (GLOBE NEWSWIRE) — Vinergy Cannabis Capital, Inc. (“Vinergy” or the “Company”) (CSE:VIN, OTCQB:VNNYF, FSE:1V7) announces that the Company’s Investment Committee has appointed Dr. Peter White to its Investment Committee advisory. Dr. White will work with Mr. Albert Szmigielski to assist the Investment Committee with due diligence to help identify potential blockchain and digital currency targets that align with Vinergy’s now expanded investment policy.
Dr. Peter White researches the development, adoption, and impact of communication, blockchain, and big data. He also works with industry partners building next generation communication technologies in health and genomics, social media, blockchain, sports, and big data. Dr. Peter White has previously been an Advisor for Blockchain Strategy at Digital Asset Management Corporation and Hyperbridge.
Dr. Peter White is a Professor in the School of Communication at Simon Fraser University where he is Director of the Genomics and Networks Analysis (GeNa) Lab and Associate Director of the Centre for Policy Research on Science and Technology. He is also has affiliate Professor positions in Computing Science at SFU and the Faculty of Medicine at the University of British Columbia. He is a member of the Centre for Clinical Diagnostic Genomics at the Michael Smith Genome Sciences Centre in Vancouver. He received his PhD from the Annenberg School for Communication at the University of Southern California in Los Angeles.
John Vu, lead director, stated, “Dr. White is a leading block chain expert with deep industry experience and acumen. His work in the space has resulted in multiple commercially beneficial endeavours and we will leverage his breadth of knowledge to evaluate the multiple value creating opportunities we are currently evaluating in order to make our first investment in the sector over the coming weeks.”
The CSE does not accept responsibility for the adequacy or accuracy of this release.
Vinergy Cannabis Capital Inc.
Arif Merali, Chief Executive
Cautionary Statement Regarding “Forward-Looking” Information
The forward-looking information contained in this press release is made as of the date of this press release and, except as required by applicable law, the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking information, whether as a result of new information, future events or otherwise, except as may be required by law. By its very nature, such forward-looking information requires the Company to make assumptions that may not materialize or that may not be accurate. This forward-looking information is subject to known and unknown risks and uncertainties and other factors, which may cause actual results, levels of activity and achievements to differ materially from those expressed or implied by such information.
Sask. MLA fighting against negative perceptions of women in politics – CBC.ca
10:00 ET Media Advisory: Virtual Infrastructure Announcement in Brampton – Canada NewsWire
Ice Chips: Pittsburgh Penguins F Sidney Crosby remains in COVID protocol – TSN
Silver investment demand jumped 12% in 2019
Iran anticipates renewed protests amid social media shutdown
Galaxy M31 July 2020 security update brings Glance, a content-driven lockscreen wallpaper service
Sports12 hours ago
Which Countries are Experiencing a Boom to Their Gaming Industries?
Politics12 hours ago
Opinion | Peterborough letter: Women treated differently in local politics – ThePeterboroughExaminer.com
Health19 hours ago
Here's who will get the AstraZeneca COVID-19 vaccine in Ontario – CTV Toronto
Sports17 hours ago
Canadiens’ Bergevin fired goalie coach midgame Tuesday
Health14 hours ago
Ontario to launch coronavirus vaccine pilot project in selected pharmacies – CP24 Toronto's Breaking News
Health17 hours ago
COVID-19 vaccine pilot project coming to some Ontario pharmacies – CTV Toronto
Tech17 hours ago
SpaceX Launches And Lands Starship Mars Prototype In Major First, Before It Explodes Again
News17 hours ago
Judge finds Toronto van attack killer guilty of murder – CBC.ca