#cryptonews
Bitcoin price is approaching the pivotal $100,000 mark, driven by growing institutional activity and market-shifting announcements.
Charles Schwab’s plans to expand into direct cryptocurrency investments and MicroStrategy’s bold $3 billion Bitcoin acquisition strategy underscore the increasing confidence in digital assets.
According to incoming CEO Rick Wurster, the company is awaiting changes to U.S. cryptocurrency rules, which he anticipates will happen soon. Schwab wants to increase the range of products it offers, but its consumers are already involved in cryptocurrency through ETFs, futures, and funds.
Charles Schwab, a prominent financial services company, intends to provide its customers with direct access to cryptocurrency investments.
Confidence in Bitcoin is increased by this revelation, which could raise its price as more institutional players adopt cryptocurrencies.
When regulations permit, Wurster underlined Schwab’s goal to be inventive and competitive in the cryptocurrency sector.
By introducing the Schwab Crypto Thematic Index in 2022 and investing in the cryptocurrency exchange EDX Markets, Schwab has demonstrated its support for the sector.
He noted that a regulated market is needed to monitor these assets for fraud and manipulation.
MicroStrategy has made waves with its ambitious plan to acquire 30,600 Bitcoin by raising $3 billion through 0% convertible senior notes.
MicroStrategy’s aggressive approach underscores institutional faith in Bitcoin, with many analysts predicting this move could push Bitcoin prices closer to the $100,000 mark as demand intensifies.
Currently, MicroStrategy holds $32.7 billion in assets, including 331,200 Bitcoin. Despite the bold move, the company’s stock (MSTR) recently fell 25%, driven by overvaluation concerns raised by Citron Research.
In a significant geopolitical move, the U.S. has sanctioned Russia’s Gazprombank and its six foreign branches. As the last major Russian bank not previously blacklisted, this action removes the state-owned entity from international financial systems. The U.S. Treasury accuses Gazprombank of financing Russia’s military activities, including payments to soldiers.