Is Crypto the Future Coin? A Run-Through by IronX
Bitcoin has pushed above the $7500 level, IronX reports. This appreciation is the first to be documented since June and has also accelerated the value of altcoins Ripple, Ethereum and Litecoin. Although Bitcoin refrains from reaching its all-time high reported in December 2017, this upward trend is still a positive move for the virtual currency.
So what developments caused this bullish movement?
Cryptocurrencies added to CFA
Chartered Financial Analyst (CFA) has officially added cryptocurrencies and blockchain topics to their curriculum, IronX announces. Program participants will study these subjects as part of the accreditation exam which is considered the ‘most brutal exam in the (financial) world’. This is a huge development in the crypto world considering the importance of the CFA.
The CFA qualification is a difficult one to earn and is made up of various syllabuses which together build somewhat of a ‘financial bible’. It takes time, effort and dedication to be accredited as a ‘Certified Financial Analyst’ due to the immense amount of studying it involves.
Clearly, cryptocurrencies are not so much considered a scam anymore and instead are somewhat high-esteemed. Qualified CFAs will soon be obliged to give crypto and blockchain advice and research this topic in full.
IBM Supports Stronghold USD
IBM has announced that is collaborating with Stronghold, the leading financial services provider to support the new virtual coin, Stronghold USD. This new cryptocurrency is a stablecoin, meaning it is an asset that is pegged to another asset such as gold or traditional currencies. In this case, Stronghold is pegged to the US dollar which requires that users use the greenback to invest in the coin. IronX has learned that this latest digital asset will aim to encourage faster and more secure payments for financial firms around the world.
BlackRock Attentive Towards Cryptos
BlackRock’s chief executive officer, Larry Fink has announced that the global investment management cooperation is very much looking into cryptocurrencies. Although he admits that there isn’t much demand for Bitcoin in sight, it still comes as good news that the firm is evaluating the crypto sphere.
Evidently, cryptocurrencies are gaining prominence in the financial world. With CFA, IBM and BlackRock showing interest, it gives this industry hope. IronX indicates that many believe virtual currency is the future coin. It will take a while for us to get there but a financial world where transactions require no third parties is certainly near.