top of page

Apple's Eyes Are on Crypto

GB Market Commentary 10/11/2021

by Frederick Evans


The Bitcoin price has settled after its recent run to a new all-time high, moving down 2% over the last 24 hours to a price of $66,650 at the time of writing. Analysts are still holding on to extremely bullish November predictions, with this month regularly being a positive one for crypto. Ethereum very similarly has fallen just under 2% over the last 24 hours to $4700. Most altcoins have also settled, with the top movers in the top 50 being Litecoin (up 8.17%) and Loopring (up 51.56%).


The talking point of crypto today is Apple boss Tim Cook revealing that he owns crypto and believes it is "reasonable to own as part of a diversified portfolio." We know that public figures hold significant influence on certain crypto investors, and with Apple's strong base of loyalists, it might sway many to explore the crypto space. However, when asked about accepting crypto for its products or investing as a company, Tim was adamant that this was not an option. He doesn't think that people investing in apple stock want to, by extension, be investing in crypto.


But with other major tech companies like Facebook venturing into the crypto space, we wait to see what Apple's first move might be.


The Spanish Banco de Espania has asked banks to outline any cryptocurrency-related plans they have for the next three years. This includes revealing relationships with digital assets providers and their exposure to the industry and any potential payment services they are looking at providing. It is the first major move in Spain over crypto regulation for years in Spain.


A Zimbabwean official has recently confirmed that the country is gathering views about cryptocurrencies from "knowledgeable people" to create a new approach to their money problem. Zimbabwe has the perfect case for following El Salvador in incorporating bitcoin as legal tender. It has faced hyperinflation and failed at pegging the Zim Dollar to the US dollar back in 2019.

Comments


GB_CC_May_Digital Asset Trading_Whiteout
  • LinkedIn
  • Twitter
  • Facebook
  • Instagram
  • YouTube
  • telegram logo

GlobalBlock EU ApS is a company incorporated and registered in accordance with the applicable laws of the Kingdom of Denmark as virtual asset service provider, with registration number (CVR-number) 45126382. GlobalBlock EU ApS is wholly owned by GlobalBlock Ltd., a company registered in England and Wales with registration number 09450626. GlobalBlock EU ApS is not a licensed financial services provider and is not supervised as such by the Danish Financial Supervisory Authority. GlobalBlock EU ApS is supervised with respect to anti money laundering by the Danish Financial Supervisory Authority within the scope of the Danish Act on Prevention of Money Laundering and Terrorist Financing and other legislation stemming thereof.

.
GlobalBlock Europe, UAB is a company incorporated and registered in accordance with the applicable laws of the Republic of Lithuania as a virtual currency depository wallet operator and virtual currency exchange operator, with registration number 306045642. GlobalBlock Europe, UAB is wholly owned by GlobalBlock Ltd., a company registered in England and Wales with registration number 09450626,  GlobalBlock Europe, UAB is not a licensed financial services provider and is not supervised by the Bank of Lithuania. GlobalBlock Europe, UAB is supervised by the Financial Crime Investigation Service under the Ministry of Interior of the Republic of Lithuania within the scope of the Law on Prevention of Money Laundering and Terrorist Financing of the Republic of Lithuania and other legislation stemming thereof.
 
Investors should be aware that cryptocurrencies are volatile investment instruments that carry a high degree of risk to the capital investment. The information in this website is not intended and should not be construed as an offer, solicitation or recommendation to buy or sell any specific investments or participate in any specific investment (or other) strategy. The products and services outlined on this website may not be suitable for all types of investors. The value of an investment can go down as well as up, and you may not get back the amount you originally invested. You should not invest more than you can afford to lose and should ensure that you fully understand the risks involved. Before trading, please take into consideration your level of experience, investment objectives, and seek independent financial advice if necessary. It is your responsibility to ascertain whether you are permitted to use the services of GlobalBlock Europe, UAB based on the legal requirements in your country of residence. The information in this website is for information purposes only and is subject to change. No part of this website can be reproduced without written permission.


 Client fiat is held with GlobalBlock in accounts with BCB Limited,and does not meet the definition of Electronic Money (e-money). Client fiat and cryptocurrency are not “safeguarded” nor covered by any compensation scheme. Clients could potentially lose their cryptocurrency or fiat if something were to happen to GlobalBlock or, BCB.

​

Cryptoasset Notice

​

Cryptoasset services are provided by GlobalBlock Europe, UAB (“GlobalBlock”).   Cryptoassets are not regulated in any jurisdiction and the value of your assets can increase or decrease. You should note that your cryptoasset profits may be subject to Capital Gains Tax.

The service you obtain through the website or the app in the UK, contains cryptoasrvices not regulated by the Financial Conduct Authority. Please be aware that:

  • You will have no recourse to the Financial Ombudsman Service in the event of a complaint relating to cryptoasset services.

  • Your cryptoasset account is not protected by the Financial Services Compensation Scheme.

  • Cryptoassets may experience frequent price volatility resulting in a high degree of risk.

bottom of page