Sean Farrell, head of digital asset strategy at market-leading independent research firm FSInsight, said in his weekly report “Digital Assets in a Post-Cycle World” on Feb. 3 that Bitcoin becomes more connected to equity markets towards the end of the fourth quarter of 2021 and central banks When faced with tightening policies, he stated that the price started to decline.
Farell from FSInsight mentioned that the Bitcoin and cryptocurrency markets are now strongly associated with technology stocks, with legacy companies and funds entering the market. In the report, he said that Bitcoin, which made a volatile start to 2022, is still the industry leader and can reach $ 200 thousand after the second half of the year.
Stating that decentralized finance (DeFi), non-fungible tokens (NFT) and other Web 3 applications play a role in the growth of the Ethereum (ETH) network, FSInsight stated in the report that Ethereum's value is low compared to cloud platforms and may reach $12,000 in 2022.
The report also included positive thoughts about the transition of Ethereum to the proof of stake (PoS) base in 2022, while it was stated that if the transition is completed, capital inflows will likely occur regardless of bitcoin performance.
KPMG Canada Adds Bitcoin (BTC) and Ethereum (ETH) to its Balance Sheet
The Canadian branch of accounting giant KPMG International has joined among companies adding cryptocurrencies to its balance sheet. The company announced today that it has added Bitcoin (BTC) and Ethereum (ETH) to its balance sheet. Netherlands-based KPMG International reported revenue of approximately $32 billion for 2021.
Since MicroStrategy added Bitcoin to its balance sheet, the number of companies adding Bitcoin to their balance sheet has been increasing day by day. KPMG Canada bought Bitcoins through Gemini Trust Company. The company established a governance committee to review risks before approving the acquisition. For now, the company has refused to disclose the amount of Bitcoin and Ethereum it has purchased.