Nearly three years since its previous peak, bitcoin (BTC) has finally reached a new all-time high, hitting US$19 881.56 on Binance on 30 November, capping off a bullish month that has been one for the record books.
All eyes are therefore on bitcoin this December as interest in cryptocurrency continues to grow, buoyed by a variety of factors, including recent economic headwinds, growing institutional interest, and support from high-profile figures within the technology and finance sectors.
These recent heights have not been seen since the 2017 crypto boom. Only this time, there are more institutions involved, including investment firms, hedge fund managers, and even publicly listed companies. Here are some of the industry giants that have got into bitcoin in 2020.
- Grayscale Investments started reporting its bitcoin holdings with the US Securities & Exchange Commission in January. Back then, the company declared US$2-billion in BTC assets under management. It now holds 490 000 BTC, currently worth $7.35 billion.
- Paul Tudor Jones, a well-known hedge fund manager, said in May that 1% to 2% of his assets are in bitcoin. His BVI Global Fund managed $22-billion in assets during the time he made this statement.
- MicroStrategy, a Nasdaq-listed asset manager, declared holdings of $425-million worth of bitcoin in September. BTC is now the principal holding in its treasury reserve strategy.
- Square, the crypto-friendly payment platform headed by Twitter founder Jack Dorsey, said in October that it has put 1% of its total assets, worth $50 million at the time, in bitcoin.
- Stone Ridge Holdings, which manages $10-billion in funds, revealed in October that it holds $114-million in BTC, also as part of its treasury reserve strategy.
- In October, PayPal said that it’s planning to allow customers to buy and sell bitcoin and other cryptocurrencies.
To celebrate a monumental year for crypto, and the upcoming festive season, Binance — the world’s largest crypto asset exchange — has some exciting campaigns and events, exclusive to our South African audience:
12 days of cashback
Until 17 December 2020, any user who utilises their Visa or Mastercard credit/debit card for the first time on Binance will get a R100 cashback — no matter the amount purchased. You can find out how to easily get involved and claim your cashback here.
Not a Binance user? You can register a free Binance account in under 60 seconds here.
Binance Masterclass: Demystifying Trading & Charting (webinar)
Trading cryptocurrencies such as bitcoin has often seemed quite an attractive prospect to many, especially those looking to make an extra income in their spare time. This is, however, until they see what looks like the “wizardry” of charting and trading.
Join us this Tuesday, 15 December, for Binance South Africa’s next Masterclass: Demystifying Trading and Charting, where we bring you experts from across South Africa to teach you the core skills needed to effectively trade cryptocurrencies on Binance.
GIVEAWAY: Three lucky attendees stand the chance to win R300 each in BTC, with one lucky attendee walking away with R1 000 in BTC to kickstart their trading journey. To qualify, you need to have a Binance account, which you can set up here.
Date and time:
Tuesday, 15 December, 6pm to 8pm
Brenton Naicker, business development manager, Binance SA
Blake “The Champ” Williams, hip-hop world champion and entrepreneur
Wesley Patrick, co-founder of QuidPro
Daniel van Zyl, co-founder of The Crypto School
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