An American based company, Peninsula Visa, that specializes in visa and passport, announced recently it would be accepting the world’s flagship crypto Bitcoin, as a form of payment for selected passport services, via using Coinbase Commerce as the secure processor for these transactions.

Evan James, Chief Operating Officer at Peninsula Visa said, “Never before has anyone been able to pay for a U.S. passport using a digital currency. We’re thrilled to be the first company in the nation offering this alternative payment method to our valued customers.

As we look forward to a post COVID world, one that we believe will be more digital than ever before, offering travelers the ability to pay via Bitcoin feels like the right move at the right time.”

• At the time of filing this report, Bitcoin price traded at $16,328.11 with a daily trading volume of $20,049,300,522.
• BTC price is up 2.1% in the last 24 hours. It has a circulating supply of 19 Million coins and a max supply of 21 Million coins.

The services further listed by the California based company, Peninsula Visa, for payment through Bitcoin, with additional passport and visa services to be rolled out over the next 12 months are:

• Passport renewal
• Name change
• Second passport
• Second passport renewal

Peninsula Visa — Peninsula Visa was founded in 1975 as a paper airline ticket delivery company in Silicon Valley. Since its start, it has transitioned through the constantly changing landscape of technology and international travel.

The world’s leading crypto hedge fund Grayscale is on the grip of reaching a major milestone as its crypto holdings are now worth $9.8 billion.

What we know: New numbers on Grayscale’s crypto products show the company now has $9.8 billion in assets under management (AUM), rapidly approaching the $10 billion mark. Barry Silbert,founder/CEO of Grayscale via his Twitter feed revealed the crypto holding.

• Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.
• Total AUM: $9.8 billion
• Crypto portfolio include $BTC $BCH $ETH $ETC $ZEN $LTC $XLM $XRP $ZEC

$200 million to go https://t.co/vnQWM2dz2a

— Barry Silbert (@BarrySilbert) November 13, 2020

What this means: The fast-rising crypto hedge fund suite of investment products give institutional investors a simple and safe exposure to Bitcoin Cash (BCH), Litecoin (LTC), Stellar (XLM), Horizon (ZEN), Zcash (ZEC), Bitcoin (BTC), Ethereum (ETH), XRP, Ethereum Classic (ETC).

Recall it was about five months ago, revealed how institutional investors and hedge funds around the world have been rushing to have a stake in crypto assets which all have been outperforming other financial assets in 2020.

A popular hedge fund based in New York –Grayscale Investments –caught the investment world by surprise by buying up Bitcoin (BTC) at a great rate in recent months.

What you need to know about Hedge Funds; They are firms that offer alternative investments to a specific type of investors (high net worth individuals), in a bid to protect their investment portfolios from market uncertainty, while generating positive returns regardless of market sentiments.

Bottom-line: With global economic uncertainty gradually becoming a daily norm, institutional and hedge funds around the world have been rushing to have a stake in crypto assets which all have been outperforming other financial assets in 2020.

Since the era of leading payment company, PayPal and other leading financial brands entered into the crypto space, the intensity seen by large investors had unsurprisingly soared at record levels.

Data seen by Themoneymetrics revealed an unknown identity moved 17,187 BTC ($268M) in block 656,521

Whale alert! 🐋 Someone moved 17,187 BTC ($268M) in block 656,521 https://t.co/aleWPFPNto

— Bitcoin Block Bot (@BtcBlockBot) November 12, 2020

About a few weeks ago, Glassnode, a notable crypto analytic company, revealed the number of Bitcoin whales (entities holding ≥ 1K BTC) that have been on an upwards trend for the past months.

This is an indication that more high-net-worth individuals are entering the space to invest in Bitcoin, in expectation of $BTC price appreciation.

• Bitcoin $BTC Reserve Risk (5d MA) just reached a 13-month high of 0.000063
• The previous 13-month high of 0.000062 was observed earlier today

📈 #Bitcoin $BTC Reserve Risk (5d MA) just reached a 13-month high of 0.000063

Previous 13-month high of 0.000062 was observed earlier today

View metric:https://t.co/ACQqFN26D7 pic.twitter.com/CFWrE9FskR

— glassnode alerts (@glassnodealerts) November 13, 2020

What this means; from a macro level is that the increase in the number of these large entities can be considered bullish.

• At the time this report was drafted, Bitcoin was still trading around the $16,000 support levels, as investors have kept buying BTC at its support levels.