The recent Bitcoin rally has proven to be an opportunity for savvy investors. While there is an opportunity to HODL and enjoy capital gains, lucrative alternatives like the Hard Protocol are emerging. The cross-chain money market is based on the interoperable Kava blockchain.
Bitcoin on a Tear, A Billionaire’s Haven
At spot rates, the Bitcoin price is trading hands at $18,500, adding 42 percent in the last trading month.
Still, analysts are confident.
According to Thomas Fitzpatrick–an executive with Citibank, Bitcoin could rally to $318k in the next 12 months. He points similarities between the 2010 to 2011 gold rally and the state of the gold market in the 1970s. Basing his analysis on the weekly chart of the BTC/USD, he told subscribing institutional clients that an over 15X rally could be on the offing.
Accompanying Thomas’ prediction is support from Wall Street executives. Chamath Palihapitiya, a billionaire venture capitalist, in a CNBC interview, said everyone should allocate one percent of their wealth in Bitcoin because it is a fantastic hedge. He projects Bitcoin to hit $1 million by 2037.
Another billionaire hedge fund manager, Stanley Druckenmiller, is convinced Bitcoin could be a store-of-value asset class. Even though he owns a tiny bit of Bitcoin, the digital asset can be the best shield against inflation.
As BTCManager also reported, the world’s third-richest man in Mexico said he has allocated 10 percent of his liquid portfolio to Bitcoin. Despite his close ties to the Mexican president, the billionaire said Bitcoin can help protect citizens against governments’ expropriations.
From PayPal, Square, to Mode Banking, Public Companies Investing in Bitcoin
Besides billionaires, public companies now own Bitcoin as part of their investment strategy. From MicroStrategy to Square and Mode Banking, more companies are exploring Bitcoin. It is estimated that PayPal is currently purchasing over 70 percent of “virgin” Bitcoin heaping buy pressure and helping sustain BTC prices above $18,000.
Amid the widespread demand fueled by inflation fears, decentralized platforms anchoring their operations on high throughput and scalable blockchains are providing opportunities for investors and corporations. Thanks to the high yields, users can tokenize their Bitcoin and participate in DeFi in platforms like the Hard Protocol.
HARD: The Decentralized Cross-Chain Money Market
The Hard application is a cross chain money market where users can earn more from their digital assets like BTC, XRP, BNB, BUSD, KAVA, and USDX.
The Hard Protocol utilizes the security of the underlying Kava blockchain. Therein, the Hard Protocol sources price feeds from Chainlink, and benefit from its cross-chain functionality to provide open and decentralized financial services to the world.
Presently, users can only supply liquidity on the BEP2 versions of XRP and BTC, and BNB. The other two are stablecoins, BUSD, and USDX. Once the Hard Protocol governance is expanded on Dec 30 with the launch of HARD v2, borrow side incentive for digital assets including LINK will begin.
With rising BTC prices, the BTCB supply-side APR stands at 44 percent, nearly double that of XRPB at 25 percent. On the other hand, centralized finance platforms like BlockFi offers an APR of six percent and on average eight percent on stablecoins like USDC.
The high APR in decentralized money market platforms like HARD is particularly important for businesses. Not only can they HODL their coins for capital gains, but also supply funds and earn decent APRs offsetting some of their operational costs.
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