Bitcoin is a unique asset according to Fidelity

According to the major investment firm Fidelity, Bitcoin is a unique asset that investors should include in their portfolios.

Despite the importance that Bitcoin has been gaining in recent years, it has been difficult for major financial firms to give their approval to cryptomoney. Analyses such as that of Goldman Sachs have been heard, considering BTC a purely speculative product. That’s why it’s important that the firm Fidelity classifies Bitcoin as a unique asset, in its latest report on digital assets.

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Bitcoin’s relationship with traditional banking

For traditional financial institutions, accepting Bitcoin has been a complicated process. For, despite the countless advantages that crypto-currencies provide to the financial sector. Facilitating the execution of international transactions through Blockchain technology. Banks have usually been reluctant to give their approval to virtual currency.

At the end of the day, this attitude is strongly related to the one maintained by the main governments of the world. Since, the same risk perceived by governments to their privileged position in the current financial system based on fiat money. It is also understood by traditional banking, the main beneficiary of the current monetary organization.

Therefore, it was not strange that some months ago the position of the US investment bank Goldman Sachs was leaked. In a presentation directed to its investors, it advised against the acquisition of Bitcoin, considering it a purely speculative financial product. A position that, however, would not be shared by the company dedicated to the management of financial assets, Fidelity.

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Fidelity’s report

Thus, the unit of the company dedicated to the analysis of digital assets, Fidelity Digital Assets, has mentioned in a recent report that Bitcoin has behaved exceptionally in recent years. Generating unprecedented benefits to its investors, and behaving practically independently from the rest of the assets in the market.
According to Fidelity Bitcoin is a unique asset because of its price. Source: CoindeskAccording to Fidelity Bitcoin, it’s a unique asset because of its price. Source: Coindesk CoinDesk

Thus, Fidelity recommends the acquisition of Bitcoin as an alternative asset. That is, those financial products that, different from stocks and bonds, provide higher returns, but also higher investment risks.

For this reason, for Fidelity the ideal percentage of value that Bitcoin should represent in an investment portfolio is 5% of the total portfolio. If the price of Bitcoin increases significantly, Fidelity recommends selling the cryptomoney to rebalance its weight in the portfolio by 5%. Likewise, if the price drops, it recommends buying BTC.

With this report, Fidelity would become one of the financial firms that have shown the greatest acceptance towards Bitcoin and cryptomonics. Although for some crypto users, 5% seems to be a very low proportion. The truth is that this is an important endorsement of the crypto world, coming from one of the most important investment firms in the world.

Sztuczka z aktualizacją portfela Bitcoin przyniosła przestępcom ponad 22 miliony dolarów

Gangi przestępcze wysyłają fałszywe aktualizacje do właścicieli portfeli Electrum, instalują złośliwe oprogramowanie i kradną środki użytkowników.

Prosta technika pomogła gangom cyberprzestępczym ukraść ponad 22 miliony dolarów środków użytkowników od użytkowników aplikacji portfela Electrum ; ZDNet dochodzenie odkrył

Ta konkretna technika została po raz pierwszy zauważona w grudniu 2018 roku . Od tego czasu wzorzec ataku został ponownie wykorzystany w wielu kampaniach w ciągu ostatnich dwóch lat.

ZDNet wyśledził wiele kont Bitcoin, na których przestępcy zebrali skradzione środki z ataków przeprowadzonych w latach 2019 i 2020, a niektóre ataki miały miejsce jeszcze w zeszłym miesiącu, we wrześniu 2020 r.

Raporty ofiar przesłane do portali nadużyć Bitcoin ujawniają tę samą historię

Użytkownicy aplikacji portfela Electrum Bitcoin otrzymali nieoczekiwaną prośbę o aktualizację za pośrednictwem wyskakującego komunikatu, zaktualizowali swój portfel, a środki zostały natychmiast skradzione i przesłane na konto Bitcoin atakującego.

Patrząc na to, jak cyberprzestępcy kradną fundusze, ta technika działa ze względu na wewnętrzne działanie aplikacji portfela Electrum i jej infrastruktury wewnętrznej.

Aby przetwarzać dowolne transakcje, portfele Electrum są zaprojektowane do łączenia się z łańcuchem bloków Bitcoin przez sieć serwerów Electrum – znaną jako ElectrumX.

Zdjęcie: Peter Kacherginsky

Jednak podczas gdy niektóre aplikacje portfela kontrolują, kto może zarządzać tymi serwerami, w otwartym ekosystemie Electrum sytuacja wygląda inaczej, w którym każdy może skonfigurować serwer bramy ElectrumX.

Od 2018 roku gangi cyberprzestępcze wykorzystują tę lukę, aby uruchomić szkodliwe serwery i czekać, aż użytkownicy losowo połączą się z ich systemami.

Kiedy tak się dzieje, atakujący instruują serwer, aby wyświetlał wyskakujące okienko na ekranie użytkownika, instruując użytkownika, aby uzyskać dostęp do adresu URL oraz pobrać i zainstalować aktualizację aplikacji portfela Electrum.

How will the presidential election affect Bitcoin?

Two crypto traders comment on the upcoming US election.

The American presidential election is approaching, which is why two crypto traders venture a glimpse of the implications this could have for Bitcoin

„If there is a clear winner and the transfer of power goes smoothly, then I do not expect any major impact on the price,“ as trader „BigCheds“ assesses against Cointelegraph. To this end, he adds: „If things get tight, however, then I predict an upswing for low-risk assets like gold and Bitcoin.“

The presidential election marks the final act of a wild 2020 that has spawned many unpredictable factors. „This year was definitely different when we think of the Corona crisis and the economic crisis that it triggered,“ as trader „CryptoWendyO“ explains to Cointelegraph. And further: „In a situation like the Corona crisis, one would expect BitQT to go up because of the uncertainty in the financial markets, but that has not yet happened.“

Shortly before the November election, the crypto community is increasingly discussing political issues. The timing for the fight for the White House couldn’t be more explosive, in a year marked by a pandemic , economic recession and rising unemployment.

„The tension is very high right now, especially because of the choice,“ said WendyO

“The markets need money so that they can flourish, but that is missing at the moment, as the middle class prefers to save their money these days,” the trader continues.

In this context, the government’s aid packages also play a role, although the government has recently been unable to reach an agreement on a new aid package. Both the stock market and the crypto market reacted with losses to the news that negotiations will be postponed after the election.

„If, after the election, we can estimate a little more precisely when the economy can be fully operational again, there will certainly be price movement in Bitcoin again and I hope that this will be positive, but nonetheless we cannot ignore the current price development let your eyes „, as WendyO warns. She points out that Bitcoin is currently having problems cracking the next resistance.

However, the market-leading cryptocurrency recently climbed above the important US $ 11,000 mark , which gives reason for hope.