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Bitcoin is an Aspirational Store of Value – Fidelity Digital Assets

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Fidelity Investments’ subsidiary, Fidelity Digital Assets, which stands as a multi-trillion dollar worth business reported that Bitcoin is an “Insurance Policy” and also an “Aspirational Store of Value”. 

In essence, Bitcoin is a good option to use as a hedge against a distressed economic and financial system. In October 2018, the firm, which is worth over $8 trillion introduced its virtual assets department and in their Report titled “Bitcoin Investment Thesis: An Aspirational Store of Value”, they highlighted that Bitcoin has been able to scale the basic conditions that will allow it to be termed a store of value. Nevertheless, they noted that the world is yet to deem the digital asset as such.

The Report urged people to disregard Bitcoin naysayers who argue that the virtual asset is extremely volatile. They encouraged the masses to pay attention to the fact that Bitcoin is enabled by a trustworthy technology- Blockchain, a decentralized settlement network. 

source: unsplash.com

In fact, it was highlighted that Bitcoin’s high volatility rate is a boon which facilitates growth, development, and creativity.  They insisted that people should really pay attention to the asset. John Pfeffer, of Pfeffer Capital LP showed regrets that a sizeable majority of the masses do not view Bitcoin as the digital gold. He expounded that once the masses accept it as such, its price will adjust appropriately.

The Report went on to show how the world is waking up to lose faith in the conventional economic and financial system. The COVID-19 pandemic has showed how flimsy the traditional financial system can be especially seeing as the government’s immediate response is to print more money so as to be able to extinguish the effects of the sudden pandemic. 

The end result of this is that fiat money as we know will progressively devalue and of course, the world will be faced with inflation.  

John Vincent, the manager of Wakem Capital reiterated the above by showing what he noticed when money was continually being printed by the government – simultaneous halving in BTC. He stated that “you don’t need a fancy degree to know that BTC’s supply halved while the USD doubled in supply”.

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BTC to Expand Into a Global Asset- CEO of  BlackRock, An Asset Management Giant

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Larry Fink, the Chief Executive Officer of BlackRock, a global asset management giant with more than   $7.4 trillion dollars in valuable properties under their surveillance – has declared Bitcoin as a Crypto with high potentials of evolving into a globally accepted asset and store of value. This bullish opinion on the digital gold appears to be called for, in view of the current Bitcoin (BTC) trends in recent times.

Just yesterday, the 1st of December, 2020, CNBC registered that Fink revealed how BTC has “caught the attention” of the general public even though the Crypto market is comparably smaller in size in contrast with other markets. 

Black rock’s CEO particularly emphasized how the digital gold is set to evolve into a “global market asset” in his briefing with Mark Carney, the former Bank of England Governor.

CNBC also disclosed that Fink hinted that this new wave of digital currencies are potential threats to the United States dollar as these nascent currencies are set to shake the USD’s sit, thereby reducing the latter’s global importance especially to global owners of dollar-pegged properties.

Fink brought a somewhat important question to the fore: 

“Does it change the need for the dollar as a reserve currency?”

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Bitcoin is expected to hit $89k, but not soon – Edward Igberaese 

Engr. Edward also revealed some top altcoins to watch out for. He named Bitcoin (BTC), Ether (ETH), EOS, and some DeFi coins. He also said Ether is expected to rise even further.

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According to Engr. Edward Igberaese, bitcoin is expected to reach $89,000 however this figure might not be realized soon. He said this on Inside Blockchain on CryptoTvplus on Monday 23rd November, 2020

He said Bitcoin (BTC) might experience a pull back before heading to $89,000. 

He called the current movements as spikes due to new people coming into cryptocurrency. The FOMO is also a contributing factor to the spike. 

He said bitcoin is expected to go down before it will go high. He said this isn’t the time bitcoin will get to $89k.  It will go very down before going up. 

He warned that people shouldn’t put all their money in bitcoin right now. He advised people to take profit.

Nobody takes profit and goes broke – Edward Igberaese, Leader Satoshi Africa

Engr. Edward Igberaese also revealed some top altcoins to watch out for. He named Bitcoin (BTC), Ether (ETH), EOS, and some DeFi coins. He also said Ether is expected to rise even further. 

Watch the program here below:

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How a First Time Bitcoin Trader Made 10% Profit in 10 Days

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A first time cryptocurrency trader shares her story of how she made 10%  profit from her first trade on Luno. 

The lady who goes by the name Deborah Ugboro and resident in the oil rich Delta state, said she was at first hesitant to buy bitcoin because she had heard several stories of how people lost their money either at the point of buying or trading bitcoin. 

She said, despite the evident warnings around, the enthusiasm for bitcoin and cryptocurrency generally was not doused and considering her background in finance, it was becoming clear that this is the future of finance. 

According to Deborah, she bought her first bitcoin at the end of October, 2020 on Luno after she sought help from people who knew about cryptocurrencies to enable her navigate the new territory.

Join us on Crypto Roast every Friday by 9PM Nigerian time.

She also transferred some to the Bitcoin Savings Wallet Luno recently launched to help her earn interest on her bitcoin. Ten days later, she was able to sell off and made a profit of 10%.

When asked how she felt after making her first crypto profit, Debbie (as she wanted to be called) said she was “happy and excited.” And while she has had her doubts in the past; now, she “wants to learn more ways on investing in cryptocurrency.”

Concluding our session, Debbie said with a smile “It feels good to be a winner.”

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