Crypto News Recap – $25 billion in institutional bitcoin by EOY? – Jan 29 – Feb 5 2021

News Recap Synopsis and additional links found on the unchainedpodcast.com website:

$25 billion in institutional bitcoin by EOY?
Plus: Coinbase’s current implied valuation

Validation of crypto by established financial services companies came in a big way this week, with PayPal and Visa looking at how the company direction could involve crypto. Similarly, Microstrategy’s Bitcoin for Corporations event drew more than 5,000 attendees, with one speaker estimating that by year’s end, institutions would hold $25 billion in bitcoin. And Coinbase keeps moving forward on its direct listing plans, choosing Nasdaq as its venue, and trading already on its secondary market, at prices indicating a valuation of $50 billion.

Meanwhile, the crypto markets themselves continue their upward march, with January metrics showing many numbers at or near all-time highs — despite the fact that it feels like this bull run has barely gotten started.

On Unchained, learn everything you need to know about your crypto taxes this year — and yes, we’re looking at you, yield farmers. And on Unconfirmed, find out why Asia dominates in crypto futures, how the West misperceives crypto in the East, and what the differences are in the crypto space between different Asian countries.

This week’s top headlines:

Coinbase Chooses Nasdaq for Direct Listing

Microstrategy’s Bitcoin for Corporations Event Draws More Than 5,000

January Sees Spike in Crypto Metrics

ETH Hits New Record at $1,700

PayPal Plans for Crypto Unit

Visa May Utilize Crypto Networks

IBM Blockchain Team Shrivels Up

Fun Bits
Forbes Blockchain 50: See Who Makes the Current Crypto Billionaires List

With New York Mag, Sam Bankman-Fried Ballparks His Net Worth at $10 Billion

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