Market Rally Continues: Bitcoin, Gold, and Major Stocks in Focus
The bullish sentiment on the German stock market is expected to persist this Thursday, potentially pushing the DAX to new record highs. According to DER AKTIONÄR, although the X-DAX indicator shows a slight dip of 0.1% at 18,858 points just before trading begins, it remains close to Wednesday's peak of 18,892 points. The optimism follows recent inflation data from the US that showed a slowdown in price increases for April.
Bitcoin Boom: New Wealth Effect Through Cryptocurrencies
A shift in spending behavior among Bitcoin millionaires has been observed as they increasingly invest their gains into real estate rather than luxury cars. As reported by finanzen.net, experts believe this trend indicates more mature financial decisions within the crypto community. A study involving institutions like Brigham Young University revealed that regions with high crypto engagement saw significant property value increases.
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Mannheim Aspires to Become Crypto City
An initiative aims to make Mannheim a hub where digital currencies are widely accepted for everyday transactions such as shopping and dining out. According to SWR Aktuell, several local businesses including supermarkets and gas stations have already started accepting cryptocurrencies through an app called Nimiq Pay. This move could position Mannheim as a pioneer city for cryptocurrency payments across Germany.
Wisconsin Investment Board Invests in Bitcoin ETFs
The State of Wisconsin Investment Board (SWIB) has become the first state pension fund in the US to invest significantly in Bitcoin ETFs since their approval earlier this year. As detailed by Crypto Valley Journal, SWIB allocated $162 million into various spot-based Bitcoin ETFs during Q1 2024. This investment marks a notable step towards mainstream acceptance of digital assets within conservative institutional portfolios.
J.P. Morgan’s Unexpected Move Into Cryptocurrency Investments
Despite its historically bearish stance on Bitcoin, J.P. Morgan recently disclosed investments in multiple spot-based Bitcoin ETFs approved by U.S. regulators last week. This surprising development was highlighted by Börse Online. Although initial positions total only around $760K USD, the bank may be setting up long-term exposure amidst ongoing skepticism expressed publicly over the years regarding BTC valuation sustainability. If true, it would signify major paradigm shifts even amongst traditional finance giants previously critical about decentralized currency potentials.
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