The Magazine for Asian Investors
After seeing Bitcoin rise more than 4% above the $43,000 mark on Thursday morning, Bitkub Coin (KUB) rose back above 400 baht.
The correction comes after a recent FED meeting where Fed Chairman Jerome Powell said that “US CBDCs and stablecoins can co-exist,” while leaving interest rates unchanged, which drove bitcoin steadily higher. This has caused the KUB rate to rise steadily along with it.
In addition, other factors have come into play. For example, investors in Thai exchanges are beginning to ease their concerns about the Ministry of Finance’s taxation of digital assets after a representative filed a complaint with the Revenue Department for review and directly announced that “Guidelines on tax rules on profits from the sale or investment of digital assets or cryptocurrencies are expected to be appropriate and up to date in January 2022.”
This could be another factor in the rise of KUB.