Bitcoin News Thebittimes.Com

According to a new study, investors are increasingly looking into Bitcoin (BTC) as a safe haven. According to strategists at the Bank of America, the increasing correlation between Bitcoin and Gold (XAU) is a signal that investors’ confidence is increasing toward BTC. The BTC and gold correlation has been increasing since September and hit a yearly high in early October. As per the Bank of America strategists, Bitcoin is a fixed supply asset, and “may become an inflation hedge.” Source: Bank of America, CoinTelegraph The increase in the BTC/XAU correlation is one symptom of increased investor trust in Bitcoin as a store of value, but it is not the only one. Additionally, the correlation between BTC and popular stocks like the S&P 500 (SPX) and Nasdaq 100 (QQQ) has also grown. On September 13th, the correlation between BTC and both SPX & QQQ was at an all-time high. Massive Bitcoin transfers from exchanges to private or self -hosted wallets were also...

Source: AdobeStock / kaew6566 “Big four” accounting firm KPMG and technology and financial services company Aspen Digital found that family offices (FO) and high-net-worth individuals (HNWIs) in Hong Kong and Singapore "have embraced" the digital asset class, with more than 90% of survey respondents having already invested in the space or planning to do so.  Per KPMG China’s Partner Paul McSheaffrey and Aspen Digital’s CEO Yang He, the companies aimed to gain insights into the current activity of these two groups and their plans for future investment in the market. The report they produced is based on a survey of 30 FOs and HNWIs in Hong Kong and Singapore, carried out in the second quarter of 2022, as well as interviews with industry stakeholders. The report found that nearly all respondents are interested in the sector, with a "particular interest" in crypto.  It stated that, "Despite the volatility in the digital asset market in ...