Trillion-Dollar Investment Firm Pimco May Begin Trading Crypto – October 21

πŸ“ˆ 30 Second Cryptocurrency Price Summary

Current Bitcoin Price:Β $66,098

Bitcoin price has blasted through previous all-time highs today, surging to a new record of almost $67,000 per coin.

Top-20 altcoins have performed excellently, as Ethereum gains 11%, Cardano rises 8% and Solana surges 20% over the last 24 hours.

Top Stories for October 21, 2021 πŸ”₯

πŸ‘‰ Trillion-Dollar Investment Firm Pimco May Begin Trading Crypto

Investment firm Pimco, which manages $2 trillion in assets, may begin spot-trading cryptocurrencies, according to CIO Daniel Ivascyn.

Pimco has already been trading securities linked to crypto, but expects to begin trading crypto directly using trend-following and quantitative strategies, before taking a more fundamental approach.

πŸ‘‰ Crypto Custody Provider Copper To Raise $500M For $2.5B Valuation

London-based cryptocurrency custodian, Copper, is currently in talks for a $500 million funding round, which would value the company at $2.5 billion.

Copper closed a $50 million Series B funding round less than half a year ago, with contributions from Dawn Capital and Target Global.

πŸ‘‰ JPMorgan Claims Inflation Concern To Blame For Bitcoin Run

Strategists at JPMorgan say that inflation concerns may be the driver for Bitcoin’s latest bull-run, rather than the recent ProShares ETF approval.

JPMorgan believes that Bitcoin may be draining funds away from gold as an inflation hedge asset, leaving the price of gold unable to respond.