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Pantera Capital Warns that People should Opt for Bitcoin or Gold instead of Fiat Currency

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Crypto Fintech giant, Pantera Capital, recently published its periodic report and emphasized that fiat money is going to nought and that smart people should start taking away their money from it. The report stated that:

“Stay long crypto until schools/daycare open. Until then the economy won’t function and money will be continuously printed.”

The US is in a Huge-load of Debts

The released report shows the huge load of debt accrued by the US due to the COVID-19 pandemic that caused the economies of the world to collapse. When looking at the United States’ addictive reliance on quantitative easing, i.e. money printing; exploring more reliable investment or currency alternatives may just be the smart thing to do.

According to the report:

“The United States printed more money in June than in the first two centuries after its founding. Last month, the US budget deficit-864 billion-was larger than the total debt incurred from 1776 through the end of 1979.”

Opt for Inflation-proof Crypto

On the flipside, cryptocurrencies such as bitcoin, ethereum, USDT and the likes appear to be relatively inflation-proof and for this reason, there will not be a need for inflation adjusted numbers as such. It appears that the surest bet may be bitcoin or gold as a relatively reliable store of value.

Popular Crypto exponent, Peter Schiff, made it known that “the US dollar isn’t just going to go down but it is in fact going to crash.” This is a wake-up call for the world to explore new options as store of value.

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Tudor Jones Projects that Crypto Will Take Over World Economies  

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Paul Tudor Jones, a Hedge fund manager at Storied notes that bitcoin is currently rocking the “brand name” crypto tag.

He intimated Yahoo Finance on Thursday the 4th of December, 2020 that “$500 billion is the wrong market cap [for Bitcoin] in a world where you’ve got a $90 trillion equity market cap and God knows how many trillions in fiat currency.”

As at press time, BTC’s market cap stands at $359 billion.

He continued that come twenty years from now, major cryptos will take over world economies and financial systems. He highlighted that “Cash may be gone and so in that world where does bitcoin fit in?”

Jones compared the major challenge of estimating BTC to the intricacy of estimating digital equities in the early days:

“I’m going to assume that it’s at the wrong price for the possibilities that (BTC) has and I’m going to assume that the path forward from here is north”

Although Jones iterated how he remains fixated to what he tags the brand name” crypto, BTC, he contrasted altcoins to “industrial metals” which he believes will scale in worth in the projected future.

Earlier this year in May, Tudor Jones disclosed the percentage of his bitcoin holdings to be approximately 1% to 2%  billion dollar investment holdings.

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Valour, a Switzerland Headquartered Firm Releases A Pro Bono Swiss Bitcoin ETP

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Valour, a firm headquartered in Switzerland recently launched what it tags the “first Bitcoin exchange-traded product (ETP)”. It operates this new product without charging a fee for management.  

The firm announced  that it now has the Bitcoin ETP quoted on the Stockholm-based Nordic Growth Market. This way investors will have official access to Bitcoin, the same way that traditional exchange-traded funds and equities are run.

Although investors are assured of not paying management fees, the firm urges them to be prepared to pay “investors’ usual brokerage fees” on the Investment product.

The Exchange Traded Product model is designed to draw its value from other traditional and nonconventional investment conduits like commercial products and currencies such as BTC which stands as a yardstick for ETPs.

The Founder who is also a Director at Valour, Johan Wattenström, notes:

 “The launch of the Bitcoin Zero ETP … marks a significant step towards the mainstream adoption of digital assets, enabling investors to diversify their portfolios and gain exposure to bitcoin, whose value has almost tripled this year.”

With the likes of Amun releasing a new BTC ETP on Xetra, Europe now boasts of a substantial number of crypto ETP listings.

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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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