Maple Market Challenge 2: Bitcoin skyrockets to $69,000. Are you ahead of the game?
Hi, mooers!
🍁Welcome back to the "Maple Market Challenge"!
📖First thing first, let's reveal the answer to last week's quiz: Which Canadian bank is the largest by market capitalization? The answer is $Royal Bank of Canada(RY.CA$! Also known as the Royal Bank of Canada, it's the largest financial institution in Canada, with a market cap of over $128 Billion as of Q4 2023.
👏 A big round of applause to those who got it right! Each of you will receive 10 points. Plus, we're giving 20 points to everyone who left a comment. Well done, everyone! A private message with more details is on its way to you.
👀 Now, brace yourselves for today's quiz!
🍁Welcome back to the "Maple Market Challenge"!
📖First thing first, let's reveal the answer to last week's quiz: Which Canadian bank is the largest by market capitalization? The answer is $Royal Bank of Canada(RY.CA$! Also known as the Royal Bank of Canada, it's the largest financial institution in Canada, with a market cap of over $128 Billion as of Q4 2023.
👏 A big round of applause to those who got it right! Each of you will receive 10 points. Plus, we're giving 20 points to everyone who left a comment. Well done, everyone! A private message with more details is on its way to you.
👀 Now, brace yourselves for today's quiz!
🤩But wait, there's more! Here's a bonus question for you. Do you think Bitcoin might be the next way to pay in Canada? Tell us why and earn 20 points with your comment!
Stick around for the reveal of the answers and to celebrate our winners soon. Wishing everyone good luck! Tap here to learn more about the Maple Market Challenge. 🍁
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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102362254 : While Bitcoin isn't Canada's primary payment method yet, its expanding use across various sectors makes it worth watching. As adoption increases and the cryptocurrency landscape develops, Bitcoin's role in Canada's economy becomes more intriguing for observers and investors. Who knows, Bitcoin may really become the next big payment method in Canada?
mr_cashcow : I do think it will eventually become one of the mainstream payment gateway they just have to figure out a more user-friendly universal ui
72745945 : I don't think it will become a mainstream currency!
Jason Fung : No. Canada is a first-class country with a stable monetary policy. People would still prefer using CAD for buying goods and services because they know CAD is stable and is backed by the government. Most importantly, its value doesn't fluctuate wildly in a short period of time. If you look at Bitcoin price in the past week, it's been a roller coaster ride.
Bitcoin is not a stable currency (at least not now, maybe in the future. Who knows?). In countries where their economies are experiencing hyperinflation, it might make sense for their citizens to consider using Bitcoin or other cryptocurrencies to combat the devaluation of their own currency. But I would use USD instead if I were in that situation since USD is much more stable than Bitcoin and is more accessible and is also wildly accepted around the world.
71625870 : Bitcoin might not be the next way to pay in Canada - its value will vary every minute - these will either hold your purchase decision or miss the sale price.
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期权投机者Mike : Probably not. The value of Bitcoin fluctuates too much. If it is used as a currency, both parties to the transaction will face great exchange rate risks