Peter Schiff is an economist, gold advocate, and one of Bitcoin’s biggest critics. He has never liked the digital currency. He believes that real value is derived from an asset’s ability to create commercial demand in markets; and always refers to gold as a perfect example of this. In contrast, he says that Bitcoin is nothing but an asymmetric store of value with no other use except attracting an endless supply of buyers for the limited supply of assets. In short, it is a Ponzi scheme. However, he has been…
Month: October 2021
Shiba Inu (SHIB) Jumps 50% To ATH Amid Robinhood Rumors
Shiba Inu (SHIB), one of the most popular meme coins, soared to an all-time high for the first time since May 11. The meme coin reached new heights of $0.00004432 over the weekend. SHIB was up over 50% in just 24 hours, according to the pricing from CoinGecko. Related Reading | Shiba Inu Outranks Chainlink And Takes Place In Top 15 Crypto-Assets With a market cap of $21.4 billion, Shiba Inu is currently the 13th biggest cryptocurrency. It is getting closer to Dogecoin, which is now in 11th place with a market…
Elon Musk Plans To Become The World’s First Dogecoin Trillionaire
Tesla CEO Elon Musk says that he will become the world’s first Dogecoin trillionaire.According to a recent prediction by a Morgan Stanley analyst, the SpaceX founder is on his way to becoming the world’s first trillionaire with his relentless amassing of wealth. A Twitter account called UberFacts tweeted this prediction. Amusingly, the Tesla CEO replied to the tweet, stating that he would be a Dogecoin trillionaire. With that reply, he sent the Dogecoin price soaring again. Related Reading | Elon Musk’s “Baby Doge” Tweet Spikes The Dogecoin Price As of today,…
Analyst Puts Bitcoin Bottom At $50,000, Here’s Why
With bitcoin rallying, all the focus has been on predicting where the price of the asset will be by the end of the year. The digital asset is undoubtedly going to enter a period where various crashes will send the price down, popularly known as a bear market. Not a lot of attention has been paid to where the price of the asset might bottom out when the market inevitably goes into another bear market. This usually long stretch of low momentum has seen bitcoin lose 94%, 87%, and 84%…
Cardano Set To Enter The Babbage Era After Alonzo HFC Milestone
Cardano successfully deployed the Alonzo Hard Fork Combinator over a month ago, which has no doubt been one of the most important upgrades to happen on the network Alonzo HFC brought with it smart contracts capability on the network and with this came decentralized finance (DeFi) services to the ecosystem. Developers could now develop and deploy decentralized applications (DApps) on the Cardano blockchain. This provided a boost for the network and Cardano continues to work with developers to get their DApps deployed on the blockchain. After this milestone, a question…
Bitcoin New All-Time Cleared, $100,000 Straight Ahead?
Bitcoin has now set a new all-time high above $67K, a price range that one would have thought impossible when the market slowed to a crawl in September. Investors across the market are back in the green after enduring a brutal month and sentiment could not be more positive. This has translated to more faith in the market as more money flows into crypto. However, hitting a new all-time high does not mean that the market stops moving. If anything, times like these are crucial for the digital asset in…
PayPal Co-founder Peter Thiel Admits He Underinvested In Bitcoin
Billionaire entrepreneur, venture capitalist, and PayPal co-founder Peter Thiel said he should have bought more Bitcoin. During an interview hosted by the Lincoln Network in Miami on Wednesday, he spoke about cryptocurrencies, central banks, and Artificial Intelligence. Miami has become a hotspot for crypto investors. Several crypto startups recently announced new offices in the city. The PayPal co-founder’s venture capital firm, Founders Fund, was also an early promoter of Miami as a new tech hub. Peter Thiel Praises Crypto During the Miami event, Thiel praised cryptocurrencies and admitted that he may have underinvested…
Blockchain Firm Chainalysis Is Adding Bitcoin To Its Balance Sheet
Chainalysis has announced that it plans to add bitcoin to its balance sheet. The news came as a surprise to crypto investors as it is usually expected that a firm so deeply ingrained in the blockchain technology ecosystem would own some crypto. According to the blog post on its website, the firm had previously not owned any cryptocurrencies and this will be the first time Chainalysis is purchasing BTC. Bitcoin has been purchased as an investment strategy by companies who are in and out of the blockchain space. The digital…
Wall Street Strategist Puts Bitcoin As High As $168,000 By Year-End
Co-founder of Fundstrat and Wall Street Strategist Tom Lee has revealed his expectations for bitcoin before the year runs out. According to a Bloomberg report, Lee revealed that he had high expectations for the digital asset, which he believes would hit the $100,000 mark by the end of the year, and added that the asset could go as high as $168,000 before the year runs out. Lee has always maintained a bullish stance on cryptocurrencies. He had earlier stated that he expected the asset to hit $100,000 this year. Now,…
Binance 17th Burn Sees ~$640 Million Worth Of Crypto Taken Out Of Circulation
Binance has successfully carried out another quarterly scheduled burn. This marks the 17th routine burn that the cryptocurrency exchange has carried out since it had launched its native token back in 2017. Binance has not missed a single scheduled burn since that time and will continue to carry out these burns every quarter. Binance burns 20% of its quarterly earnings, which suggests how much the crypto exchange has brought in that quarter. The latest burn suggests that the company may have made over $4 billion in the 3rd quarter of…