Day: December 11, 2020

Michael Casey: Bitcoin’s Tug of War as Wall Street Moves In

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A tug of war over Bitcoin’s future is becoming more ferocious.  This battle, pitting corporate interests seeking to profit from the Bitcoin system’s disruptive potential against an anti-corporatist dream for a human-first financial system that bypasses institutional middlemen, has been in play for some time. But with bitcoin’s latest price rally, the fight has intensified.  Now, Wall Street’s heavyweights are moving in. And to many who hail from Bitcoin’s “cypherpunk” roots, those guys are the enemy.  The engagement of Fidelity, Citibank, BlackRock and now MassMutual need not be the death…

Blockchain Bites: Bitcoin Whales Throwing Their Weight Around, Virgil Griffith’s Rights

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There are more bitcoin “whales” than ever, and new data shows how they drive market movements. MassMutual is the latest legacy institution to buy into bitcoin. And the number of Ethereum developers is growing at a breathless pace. Top shelf Whales and krillNew data from OKEx and Kaiko suggests that bitcoin “whales” – the mega-wealthy crypto investors and, potentially, institutions – were selling at market highs as retail investors bought in. Trading data of the bitcoin/tether pair on OKEx’s platform between August and November showed that during the November bitcoin…

Ethereum May Surpass Bitcoin’s Market Cap in the Next 10 Years, Says Economist Raoul Pal

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Economist Raoul Pal says Ethereum’s (ETH) probable adoption as programmable money may see it becoming the largest cryptocurrency by market capitalization, overtaking Bitcoin (BTC) within the next ten years. At such a time, several blockchain networks may account for a larger share of the global financial markets as digital assets become more mainstream. Ethereum will Exceed Bitcoin’s Size in Global Finance Tweeting on Friday (Dec. 11, 2020), Pal provided a series of arguments based on the current market size of several sectors of the global financial space that point to…

BITCOIN MAY TOP $500K SAYS ARK INVEST CEO CATHERINE WOOD!! 5 THINGS TO WATCH IN BTC THIS WEEK!!

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▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io ➡️ Leverage OPM (Other People’s Money): With Bitcoin nearly touching $19,000 in the last few days, many analysts are of the opinion that BTC still has room to grow to as much as $500,000. Institutional investors are now ramping up their purchase of Bitcoins. ARK Invest CEO Catherine Wood suggested that if all institutions would assign even a mid-single-digit allocation to Bitcoin on their portfolio, its value would increase tremendously. “The cryptocurrency could rise to somewhere in the $400,000 to $500,000 range,” she told news…

Cointelegraph Consulting: Institutions are bullish on Bitcoin, but is retail?

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Charts and data from the last two weeks show retail traders have flipped bearish and the BTC buying has stopped. The latest findings from Santiment, published in Cointelegraph Consulting’s biweekly newsletter, indicate that the combined balance of wallets holding small amounts of Bitcoin (BTC) continues to decline. This shows a downward trend in retail holders, which is in sharp contrast to the aggressive accumulation strategies of large holders. Social media metrics reinforce what is being seen on-chain. The average mood toward Bitcoin has been declining consistently during the past two weeks,…

Bitcoin’s Downtrend Could Soon Reverse as Analysts Eye Move to $18,500

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Bitcoin has seen some rocky price action as of late, with bulls and bears battling for control over the cryptocurrency’s mid-term outlook. So far, this has resulted in the cryptocurrency seeing some bearish momentum, with sellers taking general control over its trend. This may soon change, however, as buyers are in the process of pushing the cryptocurrency back above $18,000 – which was acting as a strong support level for the crypto throughout the day yesterday. Where it trends in the mid-term should depend largely on its reaction to a…

Officials and Civilians in Russia to Disclose Their Crypto Assets by June 31

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Previously, the Russian government intended to outlaw any miners located in the Russian territory but it still remains an unresolved topic whether or not mining could be illegal. According to the Russian federal law regarding the possession of digital and financial assets (DFA), both government officials and civilians must report their cryptocurrency possessions to the Federal Financial Monitoring Service of the Russian Federation (known as Rosfinmonitoring). The edict was signed by Vladimir Putin, reported the Russian news agency TASS. According to the decree, all officials in Russia must report their…

Award-winning NFT artwork exhibited on giant billboard at LA intersection

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A piece of interactive art by Micah Johnson, a former Major League Baseball player turned nonfungible-token artist, will spend the next month exhibited on a giant electronic billboard in Los Angeles. Micah Johnson’s “ˈsä-v(ə-)rən-tē” (pronounced “sovereignty”) was inspired by the Black Lives Matter movement and features two African American boys hoping to fulfill their dream of becoming astronauts. This is represented by a spacesuit behind a closed door. Each year on the boys’ birthdays, they move closer to the gradually opening door, depending on the amount of Bitcoin (BTC) donations…

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A Battle for Bitcoin’s Soul, With Jill Carlson and Raoul Pal

Join Michael Casey and Sheila Warren as they speak with Jill Carlson, founder of the Open Money Initiative, and Raoul Pal, CEO of RealVision for a dive into the beating heart of finance and the powerful changes that new technology invites. Bitcoin’s tug of war Raoul Pal, CEO of RealVision and influential global macro investor, found himself in the middle of a fight recently after he tweeted to bitcoiners that know-your-customer (KYC) rules are in their interest because they will bring institutional money into bitcoin and boost its value. As…