By Harry - Bitcoin Expert - 03-11-2021
Bitcoin (BTC)whales are once again buying Bitcoin in bulk during inflation fears. Reportedly, BTC whales have collected around 142,000 Bitcoin investments last week alone. More statistics were researched and posted by CoinDesk and Chainalysis, who have discovered that the whales have since bought a total of about 200,000 BTC which is a record high for whale holdings. In the market intelligence report, Chainalysis stated that whales buying the cryptocurrency giant during inflation fears further proves how Bitcoin is classed as Digital Gold. Moreover, the company went on to say that it appears institutional investors are holding BTC as a long-term investment.
Proving that the market is expecting long-term inflation, CoinDesk has reported that the breakeven rate over the last 10 years had hit a decade high of 2.64%. Despite inflation, Bitcoin is having a great time as it hits its year-high of $67,000 per BTC. Part of the reason for the price of Bitcoin increase dramatically is due to the release of the first ever Bitcoin Futures exchange-traded fund (ETF). Many investors are boosting Bitcoin investing as they recommend their followers to put their money in BTC. One investor in particular, Paul Tudor Jones has described Bitcoin as a potential “wonderful hedge” during times of inflation. Jones had stated that it appears that Bitcoin is currently winning against gold. Many other popular investors such as Dawn Fitzpatrick, CEO of Soros Fund, invests in Bitcoin with the belief that it will be globally popular.
Dear valued BC Bitcoin UK Clients,
I hope this email finds you well. We are reaching out to inform you of some significant changes to our services that directly impact our operations within the United Kingdom. Regrettably, due to the recent regulatory developments introduced by the Financial Conduct Authority (FCA) and the implementation of the new Financial Promotions Regime, BC Bitcoin is no longer able to offer our services to clients based in the UK. This very difficult decision is in compliance with the regulatory framework and ensures that we uphold the highest standards of transparency and legality. You can view the FCA publication here: https://www.fca.org.uk/publication/finalised-guidance/fg23-3.pdf As a result, we would like to inform you of the following changes and provide guidance on how to manage your assets with BC Bitcoin:
1. **Service Termination for UK Clients:**BC Bitcoin will no longer be able to accept new purchase orders from clients residing in the United Kingdom.
2. **Continued Operation Outside the UK:**Despite the changes within the UK, BC Bitcoin will continue to operate outside of the UK as normal. Our services will remain unaffected for clients in other regions.
3. **Withdrawal of Assets:**For our UK clients holding assets with BC Bitcoin, we want to assure you that your assets are secure. You have the option to safely withdraw your assets or exchange them to GBP or EUR and subsequently withdraw. We have streamlined the withdrawal process to ensure convenience for our clients.
4. **Conversion of Assets:**To convert your Holdings to fiat please log in to your BC Bitcoin account and submit a sell order for the amount of coin you hold with us. During the process you will shown how much you will receive and asked the bank details you wish to receive payment to. In addition, you can request the conversion by emailing email@example.com from your registered email address. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process.
5. **Withdrawal Procedure:**To initiate a withdrawal, please email your request to firstname.lastname@example.org from your registered email address. You may be asked some security questions to verify your identity. If you encounter any issues or require assistance, our customer support team is ready to help you throughout the process. These changes are effective immediately, and we appreciate your understanding and cooperation during this transitional period. We understand that this may be an inconvenience for our UK clients, and we sincerely apologise for any disruption this may cause. Thank you for being a valued part of the BC Bitcoin community. We are committed to providing you with a seamless experience as we navigate through these regulatory changes. If you have any questions or concerns, please do not hesitate to reach out to our customer support team at email@example.com Kind Regards