Bitcoin Daily: Investors Prefer Crypto Over Gold

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With rising inflation, investors are shifting from gold to cryptocurrencies, the Financial Times (FT) reported.

The shift highlights the erosion of support for gold, which is widely seen as the primary value signifier in favor of what are, by comparison, new digital assets, according to the report.

More than $ 10 billion has been withdrawn from the largest gold-mining exchange-traded fund (ETF) this year, and the funds’ physical gold reserves have also sold, according to the report, citing data from Bloomberg.

The price of gold has fallen 6.1% this year, while the price of bitcoin has doubled this week, hitting a record high of over $ 67,000, according to the report.

Separately, Mojito, a startup supporting Sotheby’s Metaverse, raised $ 20 million in its very first funding round, The Block reported. This brings the total value of the company to $ 100 million.

Mojito helps users sell non-fungible tokens (NFTs) from their own websites or storefronts, and it works in NFT’s issuance, ensuring compliance and enabling perpetual royalties, according to the report.

Sotheby’s CEO Charles Stewart said, according to the report, that working with Mojito will allow the company “to apply our expertise and vision of curation to the burgeoning world of digitally native art and the Mojito partnership. will only expand our capabilities. “

Meanwhile, Cboe Global Markets, which provides global market infrastructure and tradable products, has entered into a deal to buy ErisX, which operates a US-based digital asset spot market, a regulated futures exchange and a regulated clearinghouse, CryptoNinjas reported.

With its global position, Cboe will be able to offer a digital asset market focused on regulatory compliance, data and transparency, according to the report. The company also plans to create a digital advisory board with its market players, which would advise Cboe on new developments in the spot and derivatives markets.

Cboe Chairman and CEO Ed Tilly said, according to the report, the acquisition “will help us bring the regulatory framework, transparency, infrastructure and data solutions from traditional markets to the asset space. digital “.

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NEW DATA PYMNTS: DIGITAL BANKING STUDY – THE BATTLE OF BREWING FOR WHERE WE WILL BANK

By the way: Forty-seven percent of U.S. consumers avoid digital-only banks due to data security concerns, despite considerable interest in these services. In Digital Banking: The Brewing Battle For Where We Will Bank, PYMNTS surveyed over 2,200 consumers to reveal how digital-only banks can boost privacy and security while providing convenient services to meet this unmet demand.

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