Bitcoin: It’s Not If, It’s Now Just A Matter Of When

Elon Musk’s proverbial ability to kick the hornet’s nest at the right moments is once again evident in the wake of the recent news that Tesla has bought $1.5 billion in bitcoin: since then, the value of bitcoin has appreciated to almost $50,000, Mastercard has announced that it will enable the use of cryptocurrencies on its network (this would seem for the moment to be a statement of intent, saying it will do so when cryptocurrencies are “stable”, which would point for the moment only to stablecoins), while yesterday, Jack Dorsey and Jay-Z announced the creation of a 500-bitcoin fund worth around $23. 6 million, in order to finance the development of a bitcoin-based economy in Africa and India, and with the mission of making bitcoin the currency of the internet. In short, a normalization of the use of bitcoin that aims to anticipate the development of its future as the basis of an economy based on decentralized and independent digital money.

Musk’s bitcoin maneuver earned Tesla more money in one day than in the entire previous quarter selling cars, in addition to the curious fact that, at the time of the announcement, some of the brand’s vehicles were worth approximately one bitcoin. This is nothing compared to the $100,000 it is expected to be worth by the end of this year, or the $500,000 that some expect it to be worth by virtue of the algorithmic process that progressively stabilizes its value.

There is a certain poetic justice here: Musk was once sanctioned by the SEC for artificially raising the value of Tesla’s stock price; now he has gotten his revenge with a trick as simple as revealing that his company has invested in an asset he knew perfectly well was going to appreciate dramatically precisely as a result of the announcement that was made on the basis of the SEC’s own information: a masterstroke.

At the same time, Musk has been widely criticized, given the electricity consumption generated by bitcoin. We should remember that there is much self-interest in these accusations of the vast use of electricity in bitcoin mining, an activity that tends, logically, to be located precisely where it can fetch better prices for energy, and has long been oriented to places where the cheapest energy is obtained, which contrary to what many think, has been obtained from renewable sources for some time now.

If bitcoin’s critics were really that concerned about the resource consumption they argue it generates, they would do well to be more concerned about the resource consumption and the much more obvious inefficiency — in every sense — of the world’s currency markets, which move around $6 trillion every day simply by speculating on the value of some currencies against others.

PROMOTED

The example of Musk and Tesla’s leadership on bitcoin adoption is acting as a powerful magnet for other companies to try to optimize their cash management through operations of this type, which would accelerate the implementation of bitcoin, for the moment as a store of value, but over time, and following the development of the algorithm that regulates its mining and the incentives to process its operations, into a transactional instrument.

This progressive normalization of bitcoinclashes with many interests and will be subject to regulatory interference, which introduces many uncertainties about its future. Nevertheless, we are talking about a completely decentralized evolution and, as such, one that will be very difficult, if not impossible, to stop.

The fact that more and more relevant players believe in the future of bitcoin is simply a way of reinforcing the self-fulfilling prophecy that has been established around cryptocurrencies and the advantages offered by the use of an economic system which is not controlled by a specific entity, and instead by exclusively mathematical criteria and without any party being able to exercise speculative power.

In practice, it is becoming increasingly clear: it is not if, but when. MORE FOR YOUWhy Huawei’s New Update Is Seriously Bad News For Android UsersWhatsApp Users Suddenly Get This Surprise New Boost From FacebookWarning—Apple Suddenly Catches TikTok Secretly Spying On Millions Of iPhone Users

Follow me on Twitter or LinkedIn. Check out my website or some of my other work here

Enrique Dans

Enrique Dans

Teaching Innovation at IE Business School since 1990, and now, hacking education as Senior Advisor for Digital Transformation at IE University. BSc (Universidade de Santiago de Compostela), MBA (Instituto de Empresa) and Ph.D. in Management Information Systems (UCLA).

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BitBoy Crypto

Subscribe to MMCrypto: https://www.youtube.com/channel/UCBkG…​ You guys all know my prediction for Bitcoin. I think Bitcoin is going to $322K as long as it stays as bullish and volatile as it is right now. It’s definitely been a fun week for Bitcoin but how long this will continue for. Today we bringing on Chris from MMCrypto, one of the biggest crypto currency channels out there. And we gonna talk about where Bitcoin is gonna go and the immediate short term, the medium term, and the long term. 00:00​ Intro 01:41​ BTC Short term prediction 03:52​ Mid and long term predictions 10:13​ Trades Connect with Me & the BitSquad!

Join the BitSquad ➡️ http://t.me/BitSquad​ Join the BitBoy Lab ➡️ http://discord.BitBoy.Live​ Join BitSquad Traders ➡️ http://t.me/BitSquadTraders​ Join Me on Twitter ➡️ https://twitter.com/Bitboy_Crypto​ Join Me on Instagram ➡️ https://www.instagram.com/bitboy_crypto​ Join Me on TikTok ➡️ https://www.tiktok.com/@BitBoyCrypto​ Find deals on hardware wallets, trading indicators, exchanges & more. Find Crypto DEALS ➡️ https://bitboycrypto.com/deals​ All of our videos are strictly personal opinions. Please make sure to do your own research. Never take one person’s opinion for financial guidance. There are multiple strategies and not all strategies fit all people. Our videos ARE NOT financial advice.

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Does China Have A Role In Bitcoin’s Rise

Everyone loves Bitcoin. Personally, I can’t get enough of it. Though I just sold all of my XRP, as an aside, because I learned it was being delisted from Coinbase next week, Bitcoin, on the other hand, I am keeping for the moonshot.

Now that Grayscale has its Bitcoin Trust exchange-traded fund, the market cap for Bitcoin has hit a trillion dollars. It is approaching $40,000 per coin.

We know the role central banks are playing in BTC’s rise: debasement of currency via money printing. But what about China?

This is the most curious one for me, especially following what appears to be the self-exile of Jack Ma, the billionaire founder of Alibaba BABA +4.1%. Ma got into some trouble with Beijing regulators following the postponed listing of his fintech company Ant Financial, owners of AliPay, which is ubiquitous in China (you can also find it at your local CVS for some reason). Now there is talk of breaking up the Jack Ma tech empire, something akin to what anti-Big Tech advocates here in the U.S. have been asking be done of Google and Facebook.

One can almost see Chinese billionaires buying up Bitcoin, just in case Beijing comes for their wealth. Lord knows the dollar is in decline, and they probably already own a ton of stocks.

The Chinese currency, out of all the G10 currencies, has the strongest statistical correlation to BTC over the last 12 months, at around 84%. That means that as the RMB gets stronger against the dollar, so does Bitcoin, 84% of the time, says Vladimir Signorelli, head of Bretton Woods Research in Long Valley, New Jersey.

“When Bitcoin rises, the RMB is rising right along with it,” he says, adding that the euro has a 74% to 75% correlation with Bitcoin. The Russian ruble has a 25% correlation.

Bitcoin Could Soon Hit $70,000, And That Has Nothing To Do With Currencies. As Bitcoin Shoots Past $40,000, It Unequivocally Reminds Us That It’s Not Money

Bitcoin: Time To Exit

And then there is the Jack Ma effect. He’s the “canary in the coal mine” says Signorelli. “There could also be an internal dynamic in China keeping Bitcoin bullish,” he says. “You have Jack Ma’s total disappearance since October. Was it a canary in the coal mine for every millionaire and billionaire in China that you need to have a Plan B? There is a real risk of outright confiscation of your wealth. They see it clearly now.”

China’s crypto market has a massive user base. Singapore-based ZB.com Exchange is one of the top four exchanges that are popular among Chinese users. “Our in-app community is very active with Chinese users right now,” says Oman Chen, ZB’s CEO. The seven-year-old company runs digital asset trading platforms ZBM, ZBX and Bithi, cryptocurrency wallets like BitBank, and has a venture capital and research arm. “Most of these traders are very optimistic about the price of Bitcoin,” Chen says.

QCash, a stable coin trading pair supported on ZB.com, which is anchored to the Chinese yuan, is seeing strong trading volumes, according to ZB data. QC is the most liquid yuan-based stable coin.

China’s Digital Yuan Experiment

Last month, China gave its digital yuan a test drive in Suzhou. The experiment lasted roughly 10 days, but stands as a testament to China’s interest in crypto beyond the Bitcoin phenomenon.

Xinhua newswire reported on one resident surnamed Lu who had bought some snacks at a store in the Tianhong Shopping Mall using digital yuan. She transferred 66.6 yuan (about $10.21) from her digital wallet to the vendor’s account with no need for a cell tower connection.

Lu was one of the 100,000 residents of Suzhou who were given 200 digital yuan in the pilot program and could spend it at designated brick-and-mortar stores as well as online at JD.com between Dec. 12 to 27. Noted: not Alibaba.

This doesn’t mean the Chinese government loves Bitcoin, of course. Just that its population is more accustomed to the concept of cryptocurrency than the average American. Go ahead, ask your dad if he knows what Bitcoin is.

“The Chinese government considers Bitcoin a commodity, not a currency,” says Aries Wanlin Wang, a Chinese cryptocurrency investor.

The digital RMB (DCEP) program in Suzhou has adopted some blockchain functionalities but it is not the fully decentralized kind that true Bitcoin lovers want.

“The Chinese government wants to promote the digital yuan before anyone else,” says Wang. “They see the potential of a new payment and clearance system in the digital currency era. It may substitute the current Swift system,” he says, which tracks interbank transactions and is led by the U.S.

Crypto For Poor Countries

Last month, Venezuela’s government said it was giving up on its currency and would switch slowly to a digital system. Their Bolivar is worth less than seashells found on Margarita Island so it makes sense.

Argentina should be next. All of this will drive continued enthusiasm for Bitcoin, no matter the price. At the start of 2020, Ripio, one of Argentina’s largest crypto exchanges, had around 400,000 users and then ended the year with over a million.  

Argentina’s tight control over dollars (no one wants pesos there), coupled with a new 35% tax, plus limits as to how many dollars you can buy (just $200), means the Argentines have discovered Bitcoin in a big way, too.

China’s currency, unlike those two basket case currencies of South America, is strong and getting stronger. Moreover, its central bank has been moving on a digital form of its currency for at least three years. They lead on this within the big and medium-sized emerging markets. Indeed, the only country ever talking about Bitcoin is Venezuela, run by the mightily corrupt Socialists United party.

“Even though Beijing has a strong resistance to cryptocurrencies, namely Bitcoin, they have taken the part of blockchain technology that is beneficial to their country’s development,” says Chen from Singapore.

“The central bank’s digital currency can not only give the country a higher level of control over the fiat currency but also snatch back some Chinese users from third-party digital payment platforms such as Alipay and WeChat,” Chen says. Since central bank digital currency is issued at the national level, like fiat currencies, the state endorsement is more powerful to skeptics and it accelerates demonetization in favor of crypto.

Bitcoin, in China at the moment, is rising with the fortunes of a stronger yuan and the digital yuan experiments.

Rich Chinese nationals may be thinking, ‘you know what, I rather have something that is loaded and convertible and beyond the reach of Beijing and perhaps the reach of the PBoC’ — that’s the central bank of China.

In this way, they don’t have to worry about currency devaluation and Bitcoin becomes a tax hedge. The top income tax rate in China is around 45%.

People might not remember, but this time last year gold was at $1515 an ounce; it’s now around $1850. The dollar on a gold basis has lost 20% or more of its value, notes Signorelli, searching for reasons why Bitcoin has doubled in less than four weeks.

“If you put your currency and inflation hedges into BTC instead of gold, man…you’re doing fantastic,” Signorelli says. “My suspicion is that as Chinese wealth increases, it is going to be increasingly difficult for Beijing to prevent their nationals from seeking ways to preserve their capital outside of the RMB. If they can’t buy U.S. real estate or stocks, and U.S. and European bonds pay little, they’ll take some more risk with Bitcoin, I think.”

Kenneth Rapoza

Kenneth Rapoza

I’ve spent 20 years as a reporter for the best in the business, including as a Brazil-based staffer for WSJ. Since 2011, I focus on business and investing in the big emerging markets exclusively for Forbes. My work has appeared in The Boston Globe, The Nation, Salon and USA Today. Occasional BBC guest. Former holder of the FINRA Series 7 and 66. Doesn’t follow the herd.

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China Uncensored

Bitcoin. It’s a big deal in China. It can be used to subvert government controls. And the government can’t shut it down. At the Oslo Freedom Forum, China Uncensored producer Matt Gnaizda sat down with Bitcoin expert Leo Wheese. He’s the President of the Bitcoin Association of Hong Kong. YouTube demonetizes our channels! We need your support!! https://www.patreon.com/ChinaUncensored We also accept bitcoin! http://www.chinauncensored.tv/bitcoin/ Make sure to share this video with your friends! __ Subscribe for updates: https://www.youtube.com/ChinaUncensor… __ Twitter: https://twitter.com/ChinaUncensored Facebook: http://www.facebook.com/ChinaUncensored Instagram: http://instagram.com/ChinaUncensored or check out the China Unscripted Podcast! http://chinaunscripted.libsyn.com/ __ © All Rights Reserved. #bitcoin xrp libra bitcoin news btc

Investing In Bitcoin: What To Consider Before You Buy Bitcoin

Bitcoin is the first cryptocurrency in the world, launched in 2009. It is also the first wide-scale, real-world application of blockchain technology. Bitcoin (BTC) is a decentralised network which uses a public ledger to approve transactions, eliminating the need for third party approval (such as a bank). It also operates free of a governing body, such as a central bank, and all changes in the network require consensus from its members.

While initially BTC value was extremely low, priced at fractions of cents, it picked up steam over the years, reaching price levels in the thousands of dollars for a single Bitcoin token and a market cap in the hundreds of billions. The Bitcoin chart often displays extreme volatility, having short-term price spikes and tumbles. Sometimes, when the Bitcoin price is on the rise, more people are inclined to buy Bitcoin, fueling its positive run further.

On the other hand, when the Bitcoin value is on the decline, it can prompt existing investors to sell their Bitcoin and push prices down. Moreover, Bitcoin is considered the bellwether of the cryptocurrency space, so it can often generate industry-wide trends.

Should You Invest In Bitcoin?

Get the facts about trading Bitcoin before you start. Discuss investment strategies, review market research, and get real-time updates. Bitcoin is the first cryptocurrency in the world, launched in 2009. It is also the first wide-scale, real-world application of blockchain technology.

While initially BTC value was extremely low, priced at fractions of cents, it picked up steam over the years, reaching price levels in the thousands of dollars for a single Bitcoin token and a market cap in the hundreds of billions.

The Bitcoin chart often displays extreme volatility, having short-term price spikes and tumbles. Sometimes, when the Bitcoin price is on the rise, more people are inclined to buy Bitcoin, fueling its positive run further. On the other hand, when the Bitcoin value is on the decline, it can prompt existing investors to sell their Bitcoin and push prices down. Moreover, Bitcoin is considered the bellwether of the cryptocurrency space, so it can often generate industry-wide trends. Still not sure if you should invest? Read more below

Read more about Bitcoin

Who should include Bitcoin in their portfolios?

  1. Cryptocurrency traders: Bitcoin is the most well-known cryptocurrency, and therefore, many crypto traders buy it as part of their cryptocurrency portfolio.
  2. Long-term investors: While still considered an extremely volatile and risky market, Bitcoin has shown tremendous price increases over time. Therefore, those who believe the overall trend will be positive could consider a Bitcoin investment.
  3. Day traders: BTC prices can often have significant price swings over the course of a few hours. Traders can try to take advantage of these movements in an attempt to generate short-term profits.
  4. Blockchain enthusiasts: Since Bitcoin is the first major application of blockchain technology, those who have faith in the technology and its potential impact on the tech and financial industries, could consider buying Bitcoin.

Blockchain enthusiasts: Since Bitcoin is the first major application of blockchain technology, those who have faith in the technology and its potential impact on the tech and financial industries, could consider buying Bitcoin.

Use Bevtraders advanced risk management tools to protect your positions. Enjoy hassle-free deposits and withdrawals, instant execution of trades to practice your strategy.

Source: http://bevtraders.com

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JPMorgan Says Bitcoin Could Surge to $146,000 in Long Term

JPMorgan Chase & Co. sees Bitcoin as a future competitor of gold as an asset class, with the long-term potential to reach $146,000, Bloomberg reports.

Why It Matters: It would be quite the climb for Bitcoin, which rallied to a record $34,000 before retreating a bit on Monday. But it’s a long way off, if anything. Private investment in Bitcoin would have to grow at a multiple of nearly five to match the investment in gold via ETFs or bars and coins.

But a healthy future for Bitcoin depends on its volatility coming down to gold’s level, encouraging more institutional investment.

  • A group of strategists led by Nikolaos Panigirtzoglou said this could be a “multiyear process.”

Key Numbers (From CoinMarketCap):

  1. Bitcoin’s Market Capitalization: $592 Billion
  2. Bitcoin’s Circulating Supply: 18,600,000 Tokens
  3. Bitcoin’s Current Price (9:00 a.m. ET): $31,701.10

As prices continue to improve and volatility appears to stabilize, more institutions and noted investors are getting involved or expressing interest. But a heated debate over Bitcoin remains:

  • “While some argue that the cryptocurrency offers a hedge against dollar weakness and inflation risk in a world awash with fiscal and monetary stimulus, others say retail investors and trend-following quant funds are pumping up an unsustainable bubble.”

The Future, For Now: JPMorgan anticipates headwinds for the digital currency, with indicators “like a buildup of speculative long positions and an increase in investment wallets holding small amounts of Bitcoin showing potential froth.”

Bitcoin rose 1.7% to $31,567 as of 10:31 a.m. in London. The wider Bloomberg Galaxy Crypto Index added 0.9%. On Monday, Bitcoin slid as much as 17%, the biggest drop since March, after breaching $34,000 for the first time over the weekend. The swings are a reminder of the famed volatility of the largest cryptocurrency, whose price has more than quadrupled over the past year.

Bitcoin has the potential to reach $146,000 in the long term as it competes with gold as an asset class, according to JPMorgan Chase & Co. Bitcoin’s market capitalization of around $575 billion would have to rise by 4.6 times — for a theoretical price of $146,000 — to match the total private sector investment in gold via exchange-traded funds or bars and coins, strategists led by Nikolaos Panigirtzoglou wrote in a note. But that outlook depends on the volatility of Bitcoin converging with that of gold to encourage more institutional investment, a process that will take some time, they said.

“A crowding out of gold as an ‘alternative’ currency implies big upside for Bitcoin over the long term,” the strategists wrote Monday. However, “a convergence in volatilities between Bitcoin and gold is unlikely to happen quickly and is in our mind a multiyear process, according to Bloomberg. This implies that the above-$146,000 theoretical Bitcoin price target should be considered as a long-term target, and thus an unsustainable price target for this year.”

More institutions and noted investors, from Paul Tudor Jones to Scott Minerd and Stan Druckenmiller, have either started allocating funds into Bitcoin or have said they’re open to doing so. While some argue that the cryptocurrency offers a hedge against dollar weakness and inflation risk in a world awash with fiscal and monetary stimulus, others say retail investors and trend-following quant funds are pumping up an unsustainable bubble.

For now, JPMorgan sees headwinds for the largest cryptocurrency, with indicators like a buildup of speculative long positions and an increase in investment wallets holding small amounts of Bitcoin showing potential froth. “The valuation and position backdrop has become a lot more challenging for Bitcoin at the beginning of the New Year,” the strategists wrote. “While we cannot exclude the possibility that the current speculative mania will propagate further pushing the Bitcoin price up toward the consensus region of between $50,000-$100,000, we believe that such price levels would prove unsustainable.”

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Forbes Cryptocurrency Awards 2020: The $3 Trillion Bitcoin Marketing Campaign

For the first time ever, we are publishing the Forbes Crypto Awards. Not everyone will be happy they’re on the list. Fed chairman Jerome Powell takes the honors as our person of the year: In a pandemic year when the Fed printed so much stimulus money that the central bank saw its balance sheet nearly double in size, our Forbes Awards judge Anthony Pompliano of Morgan Creek Digital credits Powell with running a “$3 trillion marketing campaign for bitcoin.”

Here are our picks for the best products, the most intriguing people and the most interesting trends in crypto this year.

Our inaugural Forbes Crypto Awards were selected in consultation with Anthony Pompliano, who helps manage two crypto funds at New York City-based Morgan Creek, which has $1.5 billion in assets under management, as well as his own recently launched endeavor, Pomp Investments.


The Forbes Person Of The Year In Crypto: Jerome Powell

In an attempt to prevent the U.S. economy from collapsing under pandemic pressure, Powell had the U.S. Federal Reserve buy up a record amount of treasuries, effectively printing more than $3 trillion in new money and nearly doubling the central bank’s balance sheet. Venture firm Pantera Capital called the infusion “two centuries of debt in one month,” creating an environment in which previously skeptical investors including Wall Street whales like Paul Tudor Jones and Stanley Druckenmiller started taking cryptocurrency seriously. “I think Jerome Powell did the things that he and his colleagues believed were the best things to do in the short term to mitigate pain from the pandemic and economic crisis,” says Pompliano. “But in the pursuit of mitigating short-term pain, they were highlighting for everyone, from retail investors to the largest institutions in the world, what was going to happen over the next decade or two.”


Best Product: Square’s Cash App

In August 2018, Jack Dorsey’s payments giant Square, now valued at $96 billion, was among the first mainstream enterprises to allow bitcoin purchases in all 50 states. Bitcoin has proved a real boon to the company, which generated $1.6 billion in revenue from the asset in the third quarter, an 11-fold increase year over year. “I tend to think that new users give a good signal for something that is usable,” says Pompliano. “Not just by the crypto enthusiasts but by the everyday person, the mainstream.”


Most Intriguing Newcomer: Michael Saylor

Among a slew of names that bought bitcoin for the first time this year, perhaps none were more surprising, or made a bigger impact, than the CEO of struggling MicroStrategy, a Tysons Corner, Virginia-based business software firm. Over the course of five months starting in August, Saylor revealed that his smallish outfit, which competes against giants like Oracle and SAP in data analytics, had bought $475 million worth of bitcoin. That made bitcoin the publicly traded company’s biggest treasury asset. While Citi recently downgraded MicroStrategy as a result of the extremely aggressive play, Pompliano thinks it’s exactly that audacity that makes Saylor so intriguing. “He came out of nowhere,” says Pompliano. “And he has not only lit the bitcoin and crypto world on fire, but he has very quickly ascended to be one of the top bulls in the way he talks about what he’s doing. There’s no hedging in the way he talks about it; there’s no surrender.”


Disruptive Innovator: Caitlin Long

This former head of Morgan Stanley’s pension advisory group was once a rising star in traditional finance. Then, after helping write cryptocurrency-friendly laws in her home state of Wyoming, she was unanimously approved for one of the state’s new bitcoin banking charters in October. “She is disrupting the traditional regulatory framework,” says Pompliano. “And obviously, she was very instrumental there. But then to go build a company, to leverage those rules? I look at that as disruptive in a unique way.”


Outstanding Firm: Ark Invest

After experimenting with many different crypto strategies over the years, Ark’s CEO and chief investment officer Catherine Wood has shuffled most of her ETF firm’s direct bitcoin exposure into a single fund dedicated to “innovative” assets. But a number of other Ark ETFs have indirect exposure in the form of stakes in Silvergate Bank, which banks cryptocurrency businesses; Square and PayPal, which let their customers use bitcoin; and Nvidia, the Santa Clara, California-based computer chip manufacturer whose hardware has long been favored by many bitcoin miners. It’s working: Wood’s flagship fund is up 150% this year, and Ark’s assets under management have skyrocketed to $15 billion. “Cathie is one of those people who she’s not known just for bitcoin, so we kind of dilute her impact,” says Pompliano. “But she believed early; she was the first institution to really kind of go after the GBTC trade. She’s been right. She’s been right about a lot of stuff.”

Catherine Wood
Catherine Wood Eli Warren for Forbes

Annus Horribilis: Libra

Libra exploded onto the cryptocurrency scene in June 2019 when Facebook announced the project would use the blockchain to create a single asset backed by a number of global currencies, including the dollar, the euro and the yen. The original idea was that the Libra would be managed by payments giants like Visa, PayPal, Mastercard and Stripe. But U.S. lawmakers pretty much immediately freaked out, calling Facebook CEO Mark Zuckerberg to Capitol Hill to explain his work. Most of Facebook’s best-known payment partners quickly backed out.

After many compromises to the original vision, a watered-down—although possibly still successful—version of the currency, now called Diem and backed one-to-one by the U.S. dollar, is scheduled to launch next year. “They, me and everyone else underestimated how swiftly and how powerful regulators and governments can be when they decide to attack,” says Pompliano, who worked at Facebook 15 years ago. “In terms of the absolute height of promise, possibility, etc. to the current state, that delta, I don’t think that we’ve seen anything fall as hard as Libra.”

Facebook CEO Mark Zuckerberg
Facebook CEO Mark Zuckerberg Aurelien Meunier/Getty Images

Forbes Forecast: Bitcoin corporate treasuries

MicroStrategy purchased $475 million worth of bitcoin this year and now has plans to raise another $650 million to purchase more; Square invested about $50 million into the cryptocurrency; and New York City-based asset manager Stone Ridge revealed it owned $115 million worth of the asset. Now that financial giants like Northern Trust, managing $1 trillion worth of assets, have revealed plans to help institutional investors safely custody crypto, it’s a trend that is likely only going to continue. “I think that we will see very, very, very large companies—Fortune 100-, Fortune 500-type companies—putting bitcoin on their balance sheet in 2021,” says Pompliano.


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Michael del Castillo

Michael del Castillo

I report on how blockchain and cryptocurrencies are being adopted by enterprises and the broader business community. My coverage includes the use of cryptocurrencies and extends to non-cryptocurrency applications of blockchain in finance, supply chain management, digital identity and a number of other use cases. Previously, I was a staff reporter at blockchain news site, CoinDesk, where I covered the increasing willingness of enterprises to explore how blockchain could make their work more efficient and in some cases, unnecessary. I have been covering blockchain since 2011, been published in the New Yorker, and been nationally syndicated by American City Business Journals. My work has been published in Blockchain in Financial Markets and Beyond by Risk Books and I am regularly cited in industry research reports. Since 2009 I’ve run Literary Manhattan, a 501 (c) (3) non-profit organization dedicated to showing Manhattan’s rich literary heritage.

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Altcoin Buzz

Ethereum ETH Price Performance (+7%) | TrustSwap VISA Integration with Connect Financial | Crypto.com Weekly DeFi Update | Litecoin LTC SegWit Adoption and Lightning Network Updates | Binance, SushiSwap and Cover Protocol (-97%) Hack Updates | GreenPro +101% After $100 million Bitcoin Investment Fund | MicroStrategy Stock NASDAQ: MSTR Is Up +12% | Marathon Patent Group to purchase 70,000 Antminer S-19 ASIC miners for $170 million from Bitmain | Forbes 2020 Crypto Awards | Polkastarter tweeted about the listing date of $XED on Polkastarter | REN Protocol $sUSD and $sBTC Updates #bitcoin, #ethereum, #crypto, #greenpro, #microstrategy, #litecoin, #REN, #BTC, #ETH, #LTC, #NASDAQ 🔷 ALTCOIN TRADING SIGNALS – https://t.me/AltcoinBuzzChat 🔥 TOP CRYPTO NEWS – https://www.altcoinbuzz.io 🚀 FREE NEWSLETTER – http://eepurl.com/dnIEz1 🔶 TWITTER – https://twitter.com/altcoinbuzzio 💡 FACEBOOK – https://www.facebook.com/altcoinbuzzio Cryptocurrency And Bitcoin Visa Card – GET $25 FREE ON ► CRYPTO.COM https://platinum.crypto.com/r/ab *Code is AB Trade On Binance! ► https://www.binance.com/en/register?r… *Code is UAMKZ47P Trade On AAX ► AAX EXCHANGE https://www.aax.com/invite?inviteCode… CRYPTOCURRENCY MARKET PRICES AND DATA ► COINGECKO https://gcko.io/altcoin-buzz 🔺 NOTE If you use the above referral links, we receive a commission at no additional cost to you. ⏰ Timestamps 0:00 Introduction 2:10 Ethereum ETH Price Performance (+7%) 3:35 TrustSwap VISA Integration with Connect Financial 4:45 Crypto.com Weekly DeFi Update 5:36 Litecoin LTC SegWit Adoption and Lightning Network Updates 6:32 Binance, SushiSwap and Cover Protocol (-97%) Hack Updates 9:33 GreenPro +101% After $100 million Bitcoin Investment Fund 13:46 MicroStrategy Stock NASDAQ: MSTR Is Up +12% 16:54 Marathon Patent Group to purchase 70,000 Antminer S-19 ASIC miners for $170 million from Bitmain 17:32 Forbes 2020 Crypto Awards 20:43 Polkastarter tweeted about the listing date of $XED on Polkastarter 21:10 REN Protocol $sUSD and $sBTC Updates References: ETH video: https://www.youtube.com/watch?v=nZzNm… TESLA video: https://www.youtube.com/watch?v=hKjE1… Jeff Kirdeikis interview: https://www.youtube.com/watch?v=4DqXd…https://twitter.com/TrustSwap/status/…https://trustswap.medium.com/trustswa…https://www.altcoinbuzz.io/cryptocurr…https://twitter.com/cryptocom/status/…https://twitter.com/litecoin/status/1…https://twitter.com/cz_binance/status…https://twitter.com/binance/status/13…https://twitter.com/binance/status/13…https://twitter.com/JulSwap/status/13…https://twitter.com/AlexSaundersAU/st…https://cointelegraph.com/news/cover-…https://twitter.com/binance/status/13…https://twitter.com/blockfolio/status…https://twitter.com/zerohedge/status/…https://finance.yahoo.com/quote/grnqhttps://seekingalpha.com/news/3647521…https://twitter.com/zerohedge/status/…https://finance.yahoo.com/quote/MSTR?…https://twitter.com/mokamoto/status/1…https://www.globenewswire.com/news-re…https://twitter.com/ForbesCrypto/stat…https://www.forbes.com/sites/michaeld…https://twitter.com/Exeedme/status/13…https://twitter.com/renprotocol/statu…

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