FameEX Morning Crypto News Recap | February 21, 2024

Microstrategy Founder: Bitcoin Should Not Be Sold, ETFs Pave Way for Institutional Investment

Michael Saylor, founder of MicroStrategy, highlighted Bitcoin's market value surpassing $1 trillion, positioning it as a competitor to traditional assets like gold, real estate, and the S&P index. Despite these assets having higher market values, Saylor argues Bitcoin's superiority as an investment, advocating against selling in the current market scenario.

Trading Volume of 9 Bitcoin Spot ETFs Hits New Record with $2 Billion on February 20th

Michael Saylor, founder of MicroStrategy, highlighted Bitcoin's market value surpassing $1 trillion, positioning it as a competitor to traditional assets like gold, real estate, and the S&P index. Despite these assets having higher market values, Saylor argues Bitcoin's superiority as an investment, advocating against selling in the current market scenario.

The Democratic Party of Korea Advocates for Bitcoin Spot ETF Approval in Election Pledges

On February 20th, the South Korean Democratic Party announced plans to advocate for the approval of Bitcoin spot exchange-traded funds (ETFs) as a key part of their April 10th election campaign. This initiative comes despite the country's financial regulatory agency reaffirming a ban last month on financial institutions from introducing any form of cryptocurrency ETFs.

Governor Bailey of the Bank of England: Market Expectations for a Rate Cut This Year Are Reasonable

King Ten reports that Bank of England Governor Bailey acknowledged market expectations for an interest rate cut this year. While the Bank of England hasn't officially supported this forecast, Bailey suggested that the market's anticipation of a rate reduction is not without merit, indicating a potential shift in monetary policy direction.

Microsoft Announces $2.1 Billion Investment in Spain for AI and Cloud Infrastructure Expansion

The Daily Planet reports that Microsoft plans to invest $2.1 billion in Spain to enhance artificial intelligence and cloud infrastructure, including the construction of data centers. Brad Smith, Microsoft's Vice Chairman and President, stated the investment will be carried out within the next two years, aiming to assist the Spanish government, enterprises, and citizens in achieving security, development, and digital transformation.

The Financial Conduct Authority Grants Englebert Permission to Advertise Crypto Assets

DeepChao TechFlow reports that Englebert, a company specializing in crypto marketing services, has been authorized by the UK Financial Conduct Authority (FCA) to advertise crypto assets within the UK. Englebert will enable British crypto firms to disseminate advertisements adhering to FCA guidelines, facilitating compliant promotional activities in the cryptocurrency sector.

Disclaimer: The information provided in this section is for informational purposes only, doesn't represent any investment advice or FameEX's official view.