Can't help but wonder about this Bitcoin/Currency correlation...
Since Coinbase $COIN reports over 7,000 institutional clients used their platform to buy, sell + trade cryptocurrencies....
That's a lot HFs, MM + corps. Leverage is assumed. So is hedging in FX?
#BTC $COIN
#Bitcoin v/s #FX Correlation
▪️ Bitcoin -10% since Friday close
▪️ Bitcoin, understandably, correlated (30-40%) with Risk & Risk Ccy (CAD NOK AUD)
▪️ Caveat: Correlation stability yet to be tested under various market regimes & Correlation <> Causation
https://t.co/qWat2qbANb 2
I guess *they* want to follow the money...
"New anti-money-laundering rules passed this year will significantly expand disclosures for digital currencies..."
#Crypto + #BTC = Commodities
#XRP + #Tokens = Securities
h/t @doobeedoo2
https://t.co/ydoD8ntipb