Could Institutional Investors Push Bitcoin Price to $550K

FinancialNewsMedia.com News Commentary

PALM BEACH, Fla., Dec. 13, 2021 /PRNewswire/ -- Crypto adoption is growing around the world and is expected to continue rising as institutional investors jump on the bandwagon. In fact, American investor and Ark Invest CEO Cathie Wood said Bitcoin price could rise to $550,000 as institutional investors begin to allocate more investments to the crypto space. Wood said that institutions are always looking for investments that are uncorrelated to traditional asset classes and crypto fits that bill. Rising interest in the space would not only push Bitcoin price to new highs, but it stands to benefit companies like Mobilum Technologies Inc. (CSE:MBLM)(OTCPK:MBLMF), One World Universe Inc. (OTCPK:OWUV), Coinbase Global (NASDAQ:COIN), DMG Blockchain (TSXV:DMG) (OTCQB:DMGGF) and Bit Digital (NASDAQ:BTBT).

Mobilum Technologies Inc. (CSE:MBLM) (OTC:MBLMF), a technology-driven company making traditional finance accessible through digital payment infrastructure and digital asset management technologies, has continued to grow its presence in the market to give consumers around the world access to the market through its on-ramp and off-ramp solutions.

On December 13, Mobilum announced that it has signed an agreement to integrate off-ramp services into the Ledger Live Platform, gateway for digital assets & web3. Under the terms of the agreement, Mobilum will directly integrate its gift card output widget in the Ledger app.

"We are thrilled to integrate our off-ramp solution into Ledger, one of the largest hardware wallet ecosystems in the world. By offering our gift card solution, Ledger's users will have more options to convert their crypto back into fiat," said Mobilum CEO Wojciech Kaszycki.

Through this partnership with Phaze and Mobilum, Ledger Live customers will be able to to get the most out of their crypto. Thanks to Phaze, all Ledger customers will be able to issue digital gift cards, digital payment cards or prepaid digital mobile top-ups with over 2,000 brands and 500 mobile operators.

Earlier in December, Mobilum successfully integrated and launched its fiat-to-crypto on-ramp widget on the BTSE exchange, a leading digital assets platform for multi-currency spot and futures trading, and JoomAce, a company primarily specialized in Search Engine Optimization (SEO) and Web Development areas of IT.

Mobilum continues to focus its efforts on operating its digital payment infrastructure with large partnerships and expects its Transaction Volume Pipeline (TTV) to increase in the next quarter. On December 1, 2021, Mobilum signed an agreement with Wyre, the leading payments and crypto infrastructure company, to help accelerate the company's expansion in the United States. By integrating Wyre's API, Mobilum will gain access to Wyre's ACH payment rails and will have the ability to process automated clearing house (ACH) transactions for US clients on its on- and off-ramping platform, giving the company access to the US market

For more information about Mobilum Technologies (CSE:MBLM) (OTC:MBLMF), click here.

Crypto Companies Have Been Active in The Past Few Weeks

One World Universe (OTC:OWUV) announced on December 10 the purchase of 106 properties in the new Metaverse real estate game called Upland. To diversify its Metaverse Holding Inc. virtual real estate portfolio, the company has secured 46 properties in New York City in Brooklyn and Staten Island, 47 in Chicago, IL, 4 in Nashville, TN and 9 in Santa Clara, California. A day earlier, One Word Universe signed a deal with celebrity photographer and metaverse developer Gabriel Di Sante. The company will work with Di Sante on projects including 3D virtual experiences for celebrity music artists consisting of NFTs, Meet and Greets, and autographed memorabilia.

Coinbase Global (NASDAQ:COIN), the largest US cryptocurrency exchange, has just launched its first DeFi yield product that allows non-U.S. customers to earn interest on their holdings in a stablecoin through a third-party decentralized financial platform. In November, Coinbase Global added a host of social networking capabilities, one of which will make it easier for traders to share information about their allocations on platforms like Instagram and Twitter. The Share button will allow traders to itemize the coins they own on social media.

DMG Blockchain (TSXV:DMG) (OTCQB:DMGGF) has purchased 1,800 Bitmain Antminer S19 XP 140 Th miners, Bitmain's next-generation mining machine. The machines, whose delivery will begin in July next year, will generate an additional 252 Ph/s. The new machines will bring DMG's total to just over 1 Eh/s, including its existing Bitmain S19 orders. The Canadian mining company will also grant nearly 3 million stock options to its directors and employees, exercisable for a period of three years at C$1.20 per share.

Bit Digital (NASDAQ:BTBT), a New York-based public bitcoin mining company, announced on December 7 that it has become a member of the Bitcoin Mining Council (BMC) at the invitation of Michael Saylor, a founding member. Bit Digital is joining MicroStrategy and founding members Argo Blockchain, Core Scientific, Marathon Digital Holdings, Riot Blockchain and Galaxy Digital, among others. As of September 30, 2021, the crypto company owned 27,744 miners and earned 248.36 bitcoins. During the quarter, Bit Digital signed two new hosting agreements in the United States, representing 135 megawatts of additional power capacity.

With a fast growing digital fiat-to-digital on-and-off ramp solution that delivers the lowest rates in the market, Mobilum Technologies Inc. (CSE:MBLM)(OTC:MBLMF) has multiple catalysts to propel it to the next level.

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