Categories: Bitcoin Business

#CryptoCorner: Goldman Sachs Recommends Buying BTC Before Bull Run, China’s Central Bank Announces Crypto, Kakao Teases Crypto Wallet and New Zealand Allows Crypto Salaries

Click here to view original web page at www.investorideas.com

Listen to today's Crypto Corner Podcast:

https://www.investorideas.com/Audio/Podcasts/2019/081219-CryptoMarket.mp3

Get the Crypto Corner Podcast on iTunes

Subscribe to Podcast RSS feed:
https://www.investorideas.com/rss/feeds/Podcasts-Crypto.xml

Crypto Corner

Stocks discussed: (NYSE:GS) (NasdaqGS:FB) (KSE:035720)

Goldman Sachs (NYSE:GS) has recommended buying Bitcoin (BTC) at its current dipped price. This was revealed in a tweet by Su Zhu, CEO of Three Arrows Capital. The tweet indicated that Goldman Sachs projects a short-term target for Bitcoin of $13,971. At press time, Bitcoin is trading for roughly $11,375 USD, according to data from CoinMarketCap.

Bloomberg reports that China's central bank, The People's Bank of China (PBoC), is "close" to launching its own cryptocurrency. The announcement was made at an event held by China Finance 40 Forum over the weekend in Yichun, Heilongjiang, by deputy director of the PBoC's payments department, Mu Changchun. According to the piece, patents filed by the PBoC indicate that the crypto would work by users downloading a mobile wallet and swapping their yuan for the digital money, which they could then use to make and receive payments. The article quotes Dave Chapman, executive director at BC Technology Group Ltd, on the effect of Facebook's (NasdaqGS:FB) Libra on CBDCs:

"It is without doubt that with the announcement of Libra, governments, regulators and central banks around the world have had to expedite their plans and approach to digital assets. They have to consider the possibility that non-government issued currencies could "dramatically" disrupt finance and payments."

South Korean internet giant Kakao Corp (KSE:035720) has launched a teaser page for its forthcoming crypto wallet, according to local outlet News1 Korea. Called "Klip", the wallet is being developed by Kakao's blockchain subsidiary GroundX, and will support the company's native cryptocurrency, Klay. Kakao aims to release the wallet in the second half of this year. Han Jae-sun, CEO of Ground X, is quoted in the article:

"Everyone is focusing on developing power to increase accessibility so that they can easily use the blockchain. We are making efforts to improve efficiency and worrying about cryptocurrency distribution."

New Zealanders can receive their salaries in cryptocurrency according to a bulletin recently published by the country's Inland Revenue Department (IRD). An excerpt outlines the stipulations of receiving pay in crypto:

The Arrangement is the payment of remuneration to an employee in crypto-assets in circumstances where the crypto-asset payments:

  • are for services performed by the employee under an employment agreement;
  • are for a fixed amount; and
  • form a regular part of the employee's remuneration.

This Ruling applies only to salary and wage earners, not self-employed taxpayers; and where the crypto-assets being paid:

  • are not subject to a "lock-up" period;
  • can be converted directly into a fiat currency (on an exchange); and either:
    • a significant purpose of the crypto-asset is to function like a currency; or
    • the value of the crypto-asset is pegged to one or more fiat currencies.

Sam Mowers, Investorideas

Read other editions of the Crypto Corner

Get the Crypto Corner News by email Get Crypto Corner News

Crypto Corner Sponsors:

Flip™ is the creation of Fit Pay, Inc., a leading provider of cutting edge payment technology and a subsidiary of NXT-ID (NASDAQ: NXTD). By leveraging the FitPay Payment Platform™, Flip enables cryptocurrency holders to seamlessly exchange their cryptocurrency for US dollars and store that value on a contactless payment device that can be used to make purchases at millions of retail locations. https://www.fliptopay.com/

More info on the sector:

Investor Ideas is positioning as a leader in blockchain and crypto content with its Bitcoin and Blockchain portals Bitcoinandblockchainstocks.com, Cryptocurrencyinvestorideas.com and Blockchaininvestorideas.com

For investors following the sector Investor Ideas has a comprehensive Bitcoin, Blockchain and Digital Currency Stocks Directory

About Investorideas.com - News that Inspires Big Investing Ideas Investorideas.com is a recognized news source publishing third party news and press releases plus we create original financial content. Learn about investing in stocks and sector trends from Investorideas.com with our news alerts , articles , podcasts and videos talking about cannabis, crypto, technology including AI and IoT , mining ,sports biotech, water, renewable energy and more . Investorideas.com original branded content includes the daily Crypto Corner and Podcast, Play by Play sports and stock news column, Investor Ideas #Potcasts #Cannabis News and Stocks on the Move podcast and column, Cleantech and Climate Change Podcast and the AI Eye Podcast and column covering developments in AI.

The Crypto Corner is part of the Investor Ideas Membership content

The Investorideas.com podcasts are also available on iTunes, Spotify, Tunein, Stitcher, Spreaker.com, iHeartRadio and Google Play Music.

Visit the Podcast page at Investorideas.com:

https://www.investorideas.com/Audio/

Disclaimer/Disclosure: Investorideas.com is a digital publisher of third party sourced news, articles and equity research as well as creates original content, including video, interviews and articles. Original content created by investorideas is protected by copyright laws other than syndication rights. Our site does not make recommendations for purchases or sale of stocks, services or products. Nothing on our sites should be construed as an offer or solicitation to buy or sell products or securities. All investing involves risk and possible losses. This site is currently compensated for news publication and distribution, social media and marketing, content creation and more. Disclosure is posted for each compensated news release, content published /created if required but otherwise the news was not compensated for and was published for the sole interest of our readers and followers. Disclosure: this newsletter and podcast is sponsored content by featured companies NXt-ID (NASDAQ: NXTD) on behalf of Flip .More info: http://www.investorideas.com/About/News/Clientspecifics.asp

Contact management and IR of each company directly regarding specific questions.

More disclaimer info: https://www.investorideas.com/About/Disclaimer.asp Learn more about publishing your news release and our other news services on the Investorideas.com newswire https://www.investorideas.com/News-Upload/ and tickertagstocknews.com

Global investors must adhere to regulations of each country. Please read Investorideas.com privacy policy: https://www.investorideas.com/About/Private_Policy.asp

Cryptocurrency Disclaimer

Investorideas.com news content is not meant to be a solicitation to buy or sell cryptocurrencies and Investorideas.com does not directly sell cryptocurrencies; but acts as a news and research resource for interested investors following the blockchain sector.

Copyright and ownership: Crypto Corner is an Investorideas.com content brand

Learn more about our news, PR and social media services at Investorideas.com

https://www.investorideas.com/Investors/Services.asp

Follow us on Twitter https://twitter.com/Investorideas

Follow us on Facebook https://www.facebook.com/Investorideas

Follow us on YouTube https://www.youtube.com/c/Investorideas

Contact Investorideas.com

800-665-0411

https://www.investorideas.com/Audio/Podcasts/2019/081219-CryptoMarket.mp3

Get the Crypto Corner Podcast on iTunes Subscribe to Podcast RSS feed: https://www.investorideas.com/rss/feeds/Podcasts-Crypto.xml Crypto Corner Stocks discussed: (NYSE:GS) […]

cinerama

Illuminati, Mason, Anonymous I'll never tell. I can tell you this, global power is shifting and those who have the new intelligence are working to acquire this new force. You matter naught except to yourself, therefore prepare for the least expected and make your place in the new world order.

Disqus Comments Loading...
Share
Published by
cinerama

Recent Posts

Luongo: Trump’s Not A 4-D Chess-Player, He’s A Very Simple Creature

Authored by Tom Luongo, Friday night used to be the ‘best night on television.’ But today Friday afternoon is becoming… Read More

5 hours ago

Overstock Still Focusing on Crypto Despite Embattled CEO’s Departure

Overstock was one of the first major companies that expressed extreme interest in utilizing and adopting crypto – an interest… Read More

5 hours ago

Symmetrical Triangle Pattern May Bolster Bitcoin Bulls

Over the past couple of days Bitcoin has found itself caught within a relatively tight trading range and has continued… Read More

5 hours ago

Overstock’s Patrick Byrne: the rise and fall of a blockchain pioneer

Patrick Byrne this week resigned as CEO of US online retailer Overstock. The move closely followed the announcement of disappointing… Read More

5 hours ago

Ethereum & Stellar’s Lumen Tech Analysis –26/08/19

It’s a bullish start to the day for the majors. Holding above key levels would support another breakout later in… Read More

5 hours ago

New tool for OTC trade is based on Ethereum smart contracts

Source: Wikimedia The decentralized platform AirSwap, a trade network driven by the Ethereum platform, launched a tool, called AirSwap Trader,… Read More

5 hours ago

This website uses cookies. We use these cookies to collect data about your interaction with our website for the purpose of continuously improving your experience with our site. For more information we encourage you to read our privacy policy.

Read More