It is an atmosphere where the bitcoin craze does not cool off. This is thanks to the favorable news that Morgan Stanley is the first major bank in the United States to operate a Bitcoin (BTC) fund following the announcement of the FED to maintain its low interest rate. However, opinions are still divided over the monetary value of Bitcoin. There are also concerns that the boom will only show signs of boom until the regulation that begins next year.
On the 17th, CNBC reported that Morgan Stanley had set up a Bitcoin fund to receive investments from high-income owners. The first attempt among large Wall Street banks attracted worldwide attention and the price of bitcoin soared. It seems that we couldn’t turn away from customers’ demands to accept cryptocurrency as an asset.
Photo/Pixar Bay
Bitcoin price surge began at the end of last year and reached the highest point on the 14th, surpassing 71 million won. Even today, it continues to increase its peak while repeating its rapid rise and fall. As of last month, Bitcoin ranks 8th in the global asset rankings. There is also a prospect that it will soon surpass the 6th place’Silver’.
The world’s leading investment institutions are devising a variety of portfolios to enable transactions with Bitcoin. Global credit card brand’Visa’ has launched a business business related to cryptocurrency. On the 16th, Visa CEO Al Kelly appeared on a podcast broadcast and talked about the visa preparation plan, saying, “Cryptocurrency will become extremely mainstream within 5 years.” CEO Kelly said the ultimate goal is to make virtual assets available to more than 70 million Visa merchants worldwide.
However, some investment institutions and governments around the world are responding that it is unreasonable to view Bitcoin as a currency value. Bank of America (BoA) argues that the value of Bitcoin is not investment diversification, inflation hedges, etc., it is merely a price increase caused by demand outpacing supply.
It remains to be seen whether some experts say that cryptocurrency will become mainstream within five years will become a reality. In order to be officially recognized as an alternative means, judgments from countries around the world seem important. Last month, Fed Chair Jerome Powell declared that “Bitcoin is an extremely inefficient way to conduct transactions.” The strength of the regulation is also expected to influence bitcoin trading volume and price fluctuations. From the end of this year or from next year, governments’ regulations on virtual assets are expected to take off in earnest. In Korea, we plan to regulate to pay tax at a 20% tax rate if we earn more than 2.5 million won a year starting next year.
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