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Gate.io’s Daily Market Trends（May 23）: Regulations May Continue to Strengthen，Multiparty Giants to Support Bitcoin
2021-05-23, 08:24
DBS Bank (DBS) issued a statement saying Bitcoin is a better store of value than the U.S. dollar. In a note released to investors, DBS, the drunken bank of Singapore, noted that Bitcoin has a clear advantage in the stored value function based on decentralization and scarcity.
On May 22 at 6:25 PM, Musk replied to a comment and said, "The true battle is between fiat and crypto. On balance, I support the latter ". Musk's reply was interpreted by the market as a reply to the recent plunge in Bitcoin due to increased regulation.
A May 23 Xinhua commentary pointed out that the virtual currency market is risky and highly speculative, and that the country will further strengthen the regulation of virtual currencies and put a "tightening spell" on virtual currency transactions.
Mathew McDermott, global head of digital assets at Goldman Sachs, said in the Global Macro Research newsletter that the firm will continue to expand its business in the cryptocurrency market and will "provide wealth management clients with access to cryptocurrencies, particularly Bitcoin, through funds or structured note-like products.
Author: Gate.io Researchers: Charles.F & Gazer.C
*Gate.io reserves all rights to this article. Reposting of the article will be permitted provided Gate.io is referenced. In all other cases, legal action will be taken due to copyright infringement.
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