BTC at $400k? Increased Mass Adoption of Cryptocurrency? DigiFinex Rebrands at 4 Million Users.
Weekly News Recap:
- Crypto Research Reports Predicts BTC to Reach $400k by 2030
- Bank of Japan will Begin Experimenting with a Digital Yen
- Australians Can Now Pay for BTC at the Post Office
- DigiFinex Comes Full Circle as a Brand New all En-compassing Crypto Asset Platform
Comprehensive Analysis Predicts Bitcoin Price Near $20K This Year, $398K by 2030
According to the latest Crypto Research Report (CRR), Bitcoin (BTC)‘s price is predicted to hit nearly $20K in 2020 and is expected to keep rising to $400k by 2030. Researchers further predicted prices of several major digital currencies including Bitcoin Cash (BCH), Ethereum (ETH), & Litecoin (LTC).
Variables and addressable markets were examined before researchers arrived at forecasted prices of major digital currencies — BTC, ETH, LTC, BCH, and XLM.
In addition, CRR also reported that there are currently over 40 million cryptocurrency users worldwide, positively correlating to the respective country’s GDP per capita — suggesting increased cryptocurrency adoption.
Speculation and savings continue to outdo other uses of cryptocurrencies, as CRR highlights there is “evidence that growth in speculative transactions on exchanges is faster than the growth in using cryptocurrencies to buy goods and services”.
Bank of Japan Will Begin Experimenting With a Digital Yen
The Bank of Japan (BoJ) have officially jumped on the bandwagon of experimenting with a Central Bank Digital Currency (CBDC) after China launched its own 3 months ago. BoJ announced on thursday (02/7/2020) it would experiment with a Central Bank Digital Currency (CBDC) to test the viability of its own cryptocurrency, a Digital Yen, from a technological perspective.
It’s a first for BOJ to commence a Proof of Concept procedure with digital yen, although the bank has yet to reveal a timeline. It is unknown whether BoJ would be able to outdo China, which already has begun testing its own CBDC in major cities like Shenzhen, Chengdu, Suzhou and Xiongan.
BoJ further reported potential technical hurdles that could sabotage its plan — resilience and universal access. As such, the bank would collaborate with other central banks of countries, namely Britain, the eurozone Canada, Sweden, and Switzerland in the testing process.
BoJ concluded that both centralized and decentralized cryptocurrencies have their own pros and cons. In a case of mass adoption, the centralized option would be a wise one. In contrast, the decentralized option would be suitable should the cryptocurrency be transactions-limited and where resilience is prioritized.
Australians Can Now Pay for BTC at the Post Office
Thanks to a new partnership between Bitcoin.com.au and Australia Post Office, Australians can now pay for Bitcoin (BTC) at more than 3,500 national post offices.
This new payment option is believed to encourage consumers’ trust in the credibility of BTC, as Bitcoin.com.au’s CEO, Holger Arians explains ”For many people, paying for Bitcoin at an Australia Post office feels safer than transferring funds online — particularly for first-time buyers. We’re proud of this partnership and would like to thank Australia for their continued openness to new technologies.”
It is observed that mass adoption of BTC has started to take off as there have been growing numbers of physical shops selling cryptocurrency, with more than 8000 units of BTC automated teller machines worldwide. In Australia, customers have been able to pay for BTC at 1500 retail shops via Blueshyft payment network, a payment gateway for digital services.
DigiFinex Comes Full Circle as a Brand New all En-compassing Crypto Asset Platform
The crypto asset platform, founded in 2017, has grown rapidly to having over 4 million registered users to date, cemented its status as the market leader of crypto exchanges, and finally rebirthed as an all en-compassing crypto asset platform that envisions to be beyond your wealth companion.
Kiana, CXO of DigiFinex unveils，“It’s a major milestone in the company’s evolution as a digital finance exchange. It perfectly illustrates our growing ambition and redefines who we are to drive change and shape the future of the crypto industry with all possibilities. That’s the reason I have stepped up from Co-Founder to CXO, meaning we have the potential to be anything”
The crypto asset platform aims to provide an all-rounded crypto experience, with 6 crypto asset management services to date. DigiFinex has launched a crypto derivative trading platform — DigiDeriv to feed into the acceleration of crypto adoption worldwide. In addition, to meet rising demands of crypto products, DigiFinex further launched platforms Crypto Quant Fund and Flexi Earn for users of all risk appetites to generate passive income, and Crypto Loans to provide instant liquidity. As the bridge between traditional and crypto financial market, DigiFinex is proud to be able to allow users to purchase over 20 cryptocurrencies with credit and debit cards with over 40 fiat currencies, including major currencies BTC and ETH.
DigiFinex New Brand Ethos:
● Founded in 2017.
● Headquartered in Hong Kong with global offices in China, Singapore, Japan, Australia, Malaysia, and Korea.
● With 4 million+ registered users, with 800,000 active users from 150+ countries.
● Ranks around top 5 on CoinMarketCap among 240+ other international exchanges, with 200+ cryptocurrencies listed, supporting 200+ trading pairs in 4 markets: BTC, ETH, USDT and DFT.