Band, Loopring (LRC) and Cream secure a slice of DeFi with new partnerships
Cointelegraph
Published Feb 02, 2021 05:30PM ET
Updated Feb 02, 2021 07:00PM ET
The U.S. dollar lost about 7% of its value in 2020, while Bitcoin rallied about 300% during the same period. As Bitcoin’s institutional adoption increases, United States companies may start to diversify their treasury with other stores of value, and Bitcoin (BTC) stands a good chance to garner a portion of it.
Ark Invest’s latest report, "Bitcoin: Preparing for Institutions," shows that even a paltry allocation of 1% by companies from the S&P 500 could boost Bitcoin’s price by $40,000. However, analysts at Ar believe that the allocation is likely to be in the range of 2.5% to 6.5%, which "could impact bitcoin’s price by $200,000 to $500,000."
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Written By: Cointelegraph
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