SBI Holdings Claims 40% Stake in Hardware Wallet Company

SBI Holdings, the financial services arm of Japan's SBI Group, invested in cryptocurrency hardware wallet maker
07 March 2018   1137

SBI Holdings, the financial services arm of Japan's SBI Group, announced that it has purchased a 40% stake in CoolBitX, a Taiwan-based manufacturer of "cold" wallets - hardware devices used to store private keys to cryptocurrency assets in an offline environment.

While the announcement did not disclose the exact amount of the investment, the news marks the latest move by the Japanese financial firm in expanding its investment in the blockchain ecosystem, including both hardware and software.

SBI says the business move is meant to meet the needs of the company’s investors while aiming to establish a robust “ecosystem” with virtual currency related businesses.

The Japanese finance firm says Coolbitx’s wallet has received positive attention due to the recent cryptocurrency exchange hacks. SBI believes that Coolwallet’s card feature and its connectivity with both iOS and Android operating systems will be something cryptocurrency proponents will utilize for a hardware wallet solution.

BTC Volatility to Fall by 98% in a Year

Analyst believe that low volatility indicates a decline in speculative trading 
18 January 2019   91

Since January last year, the first cryptocurrency volatility has decreased by 98%. So, if on January 16, 2018, it was $ 3,468, then a year later - only $ 61, CoinDesk reports.

Note, the daily volatility over the past year decreased from 9.1% to 3.6%, although on December 16, 2018 was about 26%.

In absolute terms, the maximum daily volatility in the first quarter was $ 973, and in the following: $ 345, $ 245 and $ 195, respectively.

At the beginning of 2019, this figure also did not exceed $ 200, and on January 12 it reached a minimum value of $ 45.17.

Analyst stressed that low volatility indicates a decline in speculative trading and an approach to a sharp price movement.

In his opinion, Bitcoin will soon leave the range of $ 3,500- $ 3,700 in favor of the bears. At the moment, the first cryptocurrency is trading at around $ 3,590.