Bitcoin and gold share similarities but also vary significantly from each other. While bitcoin has been the go-to asset for millennial investors, institutions too, see bitcoin as a very promising asset. Interestingly, the rivalry between supporters of bitcoin and gold is a longstanding one, and while there are people who support both investment firms like...Read More
Kraken has announced that it plans to integrate Lightning Network sometime in the first half of next year and that the exchange was also hiring a team to focus on Lightning infrastructure. At first, Kraken will reportedly begin its Lightning support with API access-only withdrawals. Following this, Kraken will focus on user-interface access withdrawals and,...Read More
Grayscale Investments caught the media’s attention this week, after breaking above $10 Billion in digital assets under management. Interestingly, as Grayscale investment’s news broke the Internet, the trade volume on spot exchanges cooled off dropping below the $550 million price level based on data from Skew. BTC Aggregate Daily Volume || Source: Skew Retail traders...Read More
Binance and Coinbase, two of the leading cryptocurrency exchanges, experienced technical issues in the past few hours, and users were unable to log in. The problems coincided with bitcoin breaking into uncharted territory above $20,000 for the first time. Bitcoin’s Surge Causes Issues On Binance and Coinbase As CryptoPotato reported earlier today, the primary cryptocurrency...Read More
DeFi projects added to its TVL at an astonishing rate this year. The TVL stood at $691 Million in January 2020 and nearly a year later, the TVL surpassed $15 Billion on Monday. The YTD growth of DeFi is over 2000% with the top 6 DeFi projects including Maker, WBTC, Aave, Compound, etc. registering over...Read More
Bitcoin’s dominance is one of the biggest drivers behind its institutional interest and mainstream adoption. However, in anticipation of an altcoin rally, it was observed that Ethereum and XRP’s dominance rose 1.1% and 2.6% respectively, based on data from CoinGecko’s report. Against Bitcoin’s gradual price rally, Ethereum’s price increased by over 50% in November and...Read More
American businessman and best-selling author of “Rich Dad Poor Dad,” Robert Kiyosaki, took to Twitter today to state that the oldest and leading cryptocurrency, Bitcoin as well as precious metals such as gold and silver, had a “bright future.” He also explained why he thought Bitcoin will soon be heading toward the $50,000 range in...Read More
Ruffer Investment, a London-based asset manager with $27 billion in AUM, is the latest large company to purchase a considerable amount of bitcoin. The company has allocated 2.5% of the portfolio of one of its funds, translating into a purchase of about $15 million worth of BTC. UK Asset Manager Replaces Gold With BTC The...Read More
American businessman and best-selling author of “Rich Dad Poor Dad,” Robert Kiyosaki, took to Twitter today to state that the oldest and leading cryptocurrency, Bitcoin as well as precious metals such as gold and silver, had a “bright future.” He also explained why he thought Bitcoin will soon be heading toward the $50,000 range in...Read More
Approximately a month before leaving the White House, President Donald Trump is reportedly considering pardoning Silk Road founder Ross Ulbricht, who’s serving a double life sentence plus 40 years. This happens as the “free Ross” campaign has picked up steam, with many new people signing the online petition to release him from prison. Trump To...Read More
In an update that was sent to shareholders about the company’s performance this year, Ruffer Investment Company revealed its new Bitcoin investment strategy. Ruffer allocated what is currently worth approximately 2.5% of its multi-strategies fund to Bitcoin. This amounts to a $15 million purchase according to Alex Krüger an economist and a crypto analyst. However, the...Read More
American businessman and best-selling author of “Rich Dad Poor Dad,” Robert Kiyosaki, took to Twitter today to state that the oldest and leading cryptocurrency, Bitcoin as well as precious metals such as gold and silver, had a “bright future.” He also explained why he thought Bitcoin will soon be heading toward the $50,000 range in...Read More
When Gold’s price drops, does Bitcoin have something to do with it? Gold’s price dropped by over 1.5% today while Bitcoin was down by over 2%. Over the previous week, Gold’s price dropped by 0.69%, while Bitcoin’s price was down by 0.84%. While things are different over longer periods, both these assets are different. From...Read More
This article isn’t going to be one that talks about bitcoin’s deflationary model, its store of value, and how it is an uncorrelated asset that acts as a hedge in case of a crash in the traditional market. The article also doesn’t talk about bitcoin’s superior returns as compared to the long-standing assets in the...Read More
After a threat of a lawsuit for displaying Bitcoin scams, The Guardian Australia launched an investigation to determine the nature of the increasing number of similar fraudulent activities. It concluded that there’s a group of fraudsters operating a massive global enterprise based in Moscow, Russia. Global BTC Scam Organization Revealed CryptoPotato reported in early October...Read More
The cryptocurrency world has been used to regulators coming down hard on the crypto businesses, especially in China. However, according to a recent update, Hong Kong regulators have given its first SFC-License to OSL. According to the official announcement from the parent company of OSL, BC Technology group: “OSL, Asia’s leading digital asset platform and...Read More
The long wait for the victims of the Mt. Gox hack might find respite in the coming days as the trustee has finally submitted the draft rehabilitation plan. According to an official announcement, Nobuaki Kobayashi has filed a draft rehabilitation plan to compensate users who fell victim to hacks suffered by the exchange. As per...Read More
Mt. Gox users fallen victim to an infamous hack in 2014 are closer to receive reimbursement as the debunked exchange’s trustee finally filed a draft rehabilitation plan. The Tokyo District Court and an examiner will now review the proposal and determine the following steps. CryptoPotato reported in October that the Tokyo District Court had issued...Read More
Cynthia Lummis, an American politician who is the US Senator-elect from Wyoming, believes that Bitcoin will be crucial in the event that the fiat system crashes down. In a recent episode of the “What Bitcoin Did” podcast, Lummis told Peter McCormack: If we reach the point where we have overspent so much that things start...Read More
Ihor Kolomoyskiy, a Cypriot-Ukrainian billionaire business oligarch, and former governor of one of Ukraine’s provinces, is reportedly running a Bitcoin mining operation at a steel factory in Kentucky. The factory, CC Metals & Alloys (CCMA) is owned by the Ukrainian tycoon Ihor Kolomoyskiy and his business partner Hennadiy Boholyubov. An anonymous former employee of the...Read More
Ethereum’s Vitalik Buterin took to Twitter to warn the crypto community against taking personal loans to purchase Ether and other cryptocurrencies. In a Twitter post published on Monday, Buterin asked his followers not to take out personal loans to buy ETH or other assets in response to a user’s tweet that he addressed. The anonymous...Read More
Bitcoin’s consolidation phase continues to take place at a higher trading range, with the price climbing back above $19,000 again. In fact, every time BTC has gone down below the $19k-mark, bearish concerns have resurfaced across the industry. Source: Coinstats This is the reason why the price re-discovering its position above $19k again is a...Read More
One of the leading cryptocurrency derivatives exchanges BitMEX has announced the completion of a significant upgrade on its custody system to improve transactions. The update will allow BitMEX to use Bitcoin Core to track users’ BTC deposits and withdrawals, the company said. Important Updates Since Bitcoin Core ZeroMQ notifications trigger the new architecture, deposits will...Read More
JP Morgan’s take on Bitcoin turned 360 degrees in 2020. This was understandable, however, as it wasn’t just Bitcoin’s price rally that caught the eye of institutional investors and banks, but it’s decoupling with gold too. According to one of the world’s biggest banking institutions JP Morgan Chase & Co., the rise of cryptocurrencies in...Read More
The report, which appeared on China Central Television (CCTV), apparently claims that a Bitcoin bull market may put long term downwards pressure on gold. The broadcast was retweeted by 8BTC founder Red Li, and entrepreneur Qiao Wang from DeFi Alliance. Chinese state media is saying the BTC bull market may cause long-term downward pressure on...Read More
The current Bitcoin bull run, or more appropriately labeled ‘price rally,’ has been initiated by large investors and institutions, not by retail traders. It is evident from the trade volume and activity on spot exchanges that institutions are buying and HODLing. There are big spot buyers and the correction in Bitcoin’s price, like the recent...Read More
Bitcoin’s price has been in a state of constant fluctuation over the past few weeks, dropping to a low of $17.6k before recovering to climb above $19k, at the time of writing. The drop in price witnessed earlier was a cause for concern for many investors who believed that the market was headed for a...Read More
Bitcoin cycles have evolved over the past decade, a development that has been pretty similar to Bitcoin’s own evolution as an asset. Also obvious is the maturity of not just the market’s investors, but the perception of Bitcoin as an asset class. If 2020 has proved something, however, it is that Bitcoin is a resilient...Read More
CoinShares data reaffirms the narrative that institutional investors continue to allocate considerable amounts into cryptocurrency assets. Last week was the second-highest seven-day period with nearly $430 million inserted in the crypto market, driving the assets under management to an all-time high of $15 billion. Record-Breaking Weeks For Institutional Money In Crypto By citing data from...Read More
Bitcoin’s last 2 quarters in 2020 have been quite volatile. Rather, that has been the case for most of 2020. In fact, each quarter had something important like the Pandemic-induced crash in Q1, the V-shaped recovery in Q2, the institutional buying in Q3, followed by the rapid explosion in price in Q4. While institutions have...Read More
