Wall Street To Give Bitcoin Another Boost

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1. Wall Street To Give Bitcoin Another Boost
Wall Street is about to give bitcoin and the overall crypto market a major boost as it is currently working on a new platform which will ease the trading, storing and spending of digital assets. That’s quite the bullish news for bitcoin and other cryptocurrencies as it is expected to help them gain acceptance among investors, merchants and consumers. Last week, Intercontinental Exchange (ICE) also announced plans to form a new company, Bakkt, with the purpose of creating an open and regulated global ecosystem for digital assets*

2. Tesla Jumps To All-Time-High After Private Offer On Twitter
Tesla jumped 11% to close at an all-time-high of $379.57 at the end of Tuesday’s US session after Elon Musk tweeted about his plans on taking the company private. “I am considering taking Tesla private at $420. Funding secured,” Musk apparently tweeted, raising questions about the market sensitive info. It is important to note that Tesla’s stock was already up sharply on a report that Saudi Arabia was taking a sizable stake in the company. But investors were left to puzzle out the implications of Mr. Musk’s proposition, its relationship to the Saudi report, and even the authenticity of the tweet.**

3. Swiss Franc Extends Its Gains
The USD declined 0.10% against the CHF in early Wednesday trading to touch a one-week low as of 7:00 GMT. Concerns over trade wars and some problems in the Eurozone have increased the attractiveness of the Swiss Franc to investors who have to be willing to overlook the fact that negative interest rates are still in place as the SNB remains dovish for the foreseeable future. It is important to note that the recent bump in inflation in Switzerland has also put the CHF on the front foot, as it has started to stir the eventual hiking of interest rates in Switzerland.***


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*Source: Forbes, Aug 7, 2018, 03:03am
**Source:Seeking Alpha, Aug. 7, 2018 12:57 PM ET
***Source: Investing, Aug 08, 2018 02:06 AM ET

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