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Report: Market Valuation of 14 Banking Giants Shed $635 Billion This Year

The world’s largest banks lost a considerable amount of market valuation amid the Covid-19 pandemic, according to a new report that estimates financial incumbents lost $635 billion. Between December 2019 and August 2020, the market caps of 14 major banking institutions lost upwards of 30-50% during the time period. A newly published report written by Buyshares and the researcher Justinas Baltrusaitis, shows that during the first half of 2020, the world’s banks lost a considerable amount of market capitalization. Buyshares data shows that 14 select “major global banks” lost a combined total of $635.33 billion in market capitalization this year.…

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Millennials and Institutions are Pushing the Bitcoin Space Forward

Bitcoin and cryptocurrency continue to make serious headway, and according to one source, the reason for this is purely because people have become more intrigued by what crypto can do. Bitcoin Is the Choice of Young Traders Everywhere The interest is primarily driven by millennials and institutional players. Millennials have long been a strong audience for crypto for several reasons. For one thing, many members of younger generations grew up during financially unstable times such as the Great Recession in 2008. As a result, they have terrible distrust of both banks and standard financial institutions. Where these companies are centralized…

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Fidelity Digital Assets Quotes Bitcoin Creator Satoshi Nakamoto in Latest Investment Thesis

Fidelity Digital Assets (FDA) quotes Satoshi Nakamoto in its latest investment thesis report. The thesis is part of a series of reports examining the perspectives driving interest and investment in bitcoin. FDA is affiliated with Fidelity through parent company Fidelity Management & Research (FMR). One of the largest financial services corporations in the world, Fidelity has an estimated $7 trillion worth of assets under management (AUM). Commenting on its findings, FDA says it has learned that investors view bitcoin as an aspirational store of value while also noting the limited knowledge about the same by stakeholders. Additionally, FDA observes that…

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Podcast: Fiat Money and Intergenerational Conflict

At a time of unprecedented economic uncertainty, central banks around the world are reacting to the novel coronavirus by printing money, slashing interest rates and generally doubling down on the globe’s deflationary spiral. Amid all of this self-destructive behavior, Bitcoin Magazine’s “WTF Is Happening With the Fed?!” podcast series has been examining the Federal Reserve’s actions, the critical differences between manipulated markets and the Bitcoin ecosystem and all of the other questions now raised about the concepts of money and value at this most confusing time. In the latest episode of the show, “Fiat Money and Intergenerational Conflict,” hosts Christian…

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