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All eyes on Bitcoin this December, what’s next?

Issued by Binance
Johannesburg, 11 Dec 2020

Nearly three years since its previous peak, Bitcoin (BTC) has finally reached a new all-time high, hitting $19 881.56 on Binance on 30 November, capping off a bullish month that has been one for the record books.

All eyes are therefore on Bitcoin this December as interest in crypto-currency continues to grow, buoyed by a variety of factors, including recent economic headwinds, growing institutional interest, and support from high-profile figures within the technology and finance sectors.

These recent heights have not been seen since the 2017 crypto boom. Only this time, there are more institutions involved, including investment firms, hedge fund managers and even publicly listed companies. Here are some of the industry giants that have gotten into Bitcoin in 2020.

  • Grayscale Investments started reporting its Bitcoin holdings with the US SEC back in January. Back then, it declared $2 billion in BTC assets under management. It now holds 490 000 BTC, currently worth $7.35 billion.
  • Paul Tudor Jones, a well-known hedge fund manager, said in May that 1% to 2% of his assets are in Bitcoin. His BVI Global Fund manages $22 billion in assets during the time he made this statement.
  • MicroStrategy, a Nasdaq-listed asset manager, declared holdings of $425 million worth of Bitcoin in September. BTC is now the principal holding in its treasury reserve strategy.
  • Square, the crypto-friendly payment platform headed by Twitter founder Jack Dorsey, said in October it has put 1% of its total assets, worth $50 million at the time, in Bitcoin.
  • Stone Ridge Holdings, which manages $10 billion in funds, revealed in October that it holds $114 million in BTC, also as part of its treasury reserve strategy.
  • In October, PayPal said it’s planning to allow customers to buy and sell Bitcoin and other crypto-currencies.

To celebrate a monumental year for crypto, and the upcoming festive season, Binance – the world’s largest crypto asset exchange – has some exciting campaigns and events, exclusive to its South African audience:

12 Days of Cashback

From 3 December to 14 December, any user who utilises their Visa or Mastercard credit/debit card for the first time on Binance, will get a R100 (6 USD) cash back – no matter the amount purchased. You can find out how to easily get involved and claim your cash back here.

Not a Binance user? You can register a free Binance account in under 60 seconds here.

Binance Masterclass: Demystifying Trading and Charting (Webinar):

Trading crypto-currencies such as Bitcoin has often seemed quite an attractive prospect to many, especially those looking to make extra income in their spare time. This is, however, until they see what looks like the “wizardry” of charting and trading.

Join Binance this Tuesday, 15 December, for Binance South Africa’s next Masterclass: Demystifying Trading and Charting, where the company brings you experts from across South Africa to teach you the core skills needed to effectively trade crypto-currencies on Binance.

Giveaway: Three lucky attendees stand the chance to win R300 each in BTC, with one lucky attendee walking away with R1 000 in BTC to kickstart their trading journey. To qualify, you need to have a Binance account, which you can set up here.

Location: Zoom

Register at: https://www.eventbrite.com/e/sa-masterclass-demistyfying-trading-and-charting-tickets-132257966137

Date and time: Tues, 15 Dec, 6pm-8pm

Speakers include:

  • Brenton Naicker: Business Development Manager, Binance SA
  • Blake “The Champ” Williams: Hip Hop World Champion & Entrepreneur
  • Wesley Patrick: Co-Founder of QuidPro
  • Daniel Van Zyl: Co-Founder of The Crypto School

Want to stay updated on the Binance ecosystem in Africa? Follow us on Twitter for the latest updates.

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