Bitcoin Custody For Institutional Clients - BTC Hits All Time Highs.

Bitcoin Custody For Institutional Clients - BTC Hits All Time Highs.

2021-02-11 | Robin Williams

Bitcoin Custody For Institutional Clients - BTC Hits All Time Highs.

Bitcoin [BTC] set a new record high today on Thursday after BNY Mellon, America’s oldest bank, revealed cryptocurrency custody for institutional clients. The crypto set a new high of $48,297 USD within the United States trading hours, surpassing the earlier peak price of $48,226 USD registered on Tuesday, consistent with CoinMarketCap data. Buyers stepped in around $46,700 USD after BNY Mellon revealed it'll hold, transfer & issue Bitcoin [BTC] as well as other crypto-assets on behalf of its asset-management clients.
“Bitcoin is loving the BNY Mellon news. It’s a really big deal,” trader and analyst Alex Kruger tweeted.
A wave of institutional adoption has hit the Bitcoin market within the week, pushing prices higher by 22%. Earlier on Monday, the United States electric maker Tesla [TSLA], a Fortune 500 company, revealed BTC purchases worth $1.5 Bln, bolstering the crypto assets appeal as a reserve asset. Payments giant Mastercard revealed earlier today on Thursday it's starting to permit merchants to accept cryptocurrency payments.

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