New COVID variant takes Bitcoin price below $55K

With the fear of the new COVID variant spreading across the globe, markets worldwide fell heavily. Bitcoin was no exception seeing a heavy fall. BTC is trading around $54K now. This is 20% below the all-time high of $69K.

El Salvador buys 100 BTC

El Salvador celebrated Black Friday when the prices fell. The President said that 100 BTC was added making use of the global sell-off, taking the total to 1220 BTC.

Two Bitcoin Funds launched in Singapore by MAS-regulated fund manager

Fintonia Group, a fund manager regulated by the Monetary Authority of Singapore launched two institutional-grade Bitcoin funds. The founder said that the funds are live and investors can subscribe and redeem regularly as they are open-ended funds, similar to a mutual fund. He added that the funds are only available for accredited Investors.

Tanzania to launch CBDC

The Bank of Tanzania is reportedly planning to introduce a central bank digital currency, or CBDC, for the African nation after neighbouring countries announced similar initiatives.

Bitcoin too volatile to be adopted as legal tender, says BoE chief

Andrew Bailey, the Governor of Bank of England said that Bitcoin cannot be accepted as legal tender with the volatility that it exhibits now. He said that the moves by El Salvador are quite alarming and the consumers will suffer from the extreme volatility.