Is This 1 New International Development a Reason to Buy Bitcoin and XRP With $1,500?
Coinbase Global (NASDAQ: COIN) just made a move that could open up new capital inflows for both Bitcoin (CRYPTO: BTC) and XRP (CRYPTO: XRP), among other cryptocurrencies large and small. Importantly, the same action could also end up routing a large and growing number of developers into the crypto sector, which would have major knock-on effects in terms of creating new opportunities for investors.But will those benefits result in concrete gains in XRP and Bitcoin's price? It's very possible, so let's evaluate what just happened and estimate the odds of there being a meaningful amount of upside for an investor that commits $1,500 of capital into either coin (or both).On March 11, Coinbase said that the Financial Intelligence Unit (FIU) of India, an anti-money-laundering authority in the country, had granted it permission to start a registration process that is likely to end with it offering cryptocurrency investments and services there before the end of this year. The permission is a big deal because the company's past attempts to compete in India haven't gone well. In 2022, it halted its operations in the country, which has overall not been very friendly to the establishment of the cryptocurrency industry until quite recently. Now that change is in the air, Coinbase will be one of the exchanges responsible for onboarding India's huge population of investors and developers, and the impact could be sensational over time.Continue reading
Coinbase Global (NASDAQ: COIN) just made a move that could open up new capital inflows for both Bitcoin (CRYPTO: BTC) and XRP (CRYPTO: XRP), among other cryptocurrencies large and small. Importantly, the same action could also end up routing a large and growing number of developers into the crypto sector, which would have major knock-on effects in terms of creating new opportunities for investors.
But will those benefits result in concrete gains in XRP and Bitcoin's price? It's very possible, so let's evaluate what just happened and estimate the odds of there being a meaningful amount of upside for an investor that commits $1,500 of capital into either coin (or both).
On March 11, Coinbase said that the Financial Intelligence Unit (FIU) of India, an anti-money-laundering authority in the country, had granted it permission to start a registration process that is likely to end with it offering cryptocurrency investments and services there before the end of this year. The permission is a big deal because the company's past attempts to compete in India haven't gone well. In 2022, it halted its operations in the country, which has overall not been very friendly to the establishment of the cryptocurrency industry until quite recently. Now that change is in the air, Coinbase will be one of the exchanges responsible for onboarding India's huge population of investors and developers, and the impact could be sensational over time.
