Opinion: Bitcoin ETF approval requires capitalisation to reach $2 trillion

Ark Investment Management CEO Katie Wood doubts US regulators will approve a bitcoin exchange-traded fund (ETF) before BTC’s market capitalisation reaches $2 trillion.

„Demand has to be met, so it has to exceed a trillion dollars. I think it needs $2 trillion before the US Securities and Exchange Commission (SEC) has confidence in bitcoin ETFs,“ Wood said at the ETF Trends Immediate Edge online conference on Tuesday, 26 January.

Bitcoin’s market capitalisation hovered below $600bn on Tuesday.

Wood was optimistic about bitcoin’s prospects under Gary Gensler, the former CFTC chairman and MIT professor appointed by US President Joe Biden to head the SEC.

Gensler has become the SEC’s most knowledgeable chairman on cryptocurrencies and blockchain, as he served as advisor to the Digital Currencies Initiative at MIT and conducted research on blockchain and financial technology.

Wood’s presentation on Tuesday also made bold predictions about the price of bitcoin if „institutional adoption“ continues. Wood said that if every S&P 500 company invested 1% of its assets in bitcoin, its price would rise by $40,000.

„An institutional allocation of 2.5% to 6.5% could raise the price of bitcoin from $200,000 to $500,000,“ Wood said in her presentation.

La capitalizzazione di mercato di Bitcoin supererà quella di Tesla entro sei mesi, afferma il CEO di Galaxy Digital

L’amministratore delegato di Galaxy Digital Mike Novogratz afferma che la capitalizzazione di mercato di Bitcoin eclisserà quella di Tesla entro giugno 2021.

Il capo della società di gestione delle risorse digitali ha portato a Twitter per spiegare perché crede capitalizzazione di mercato di Bitcoin crescerà molto più velocemente di Tesla nei prossimi mesi.

“BTC avrà una capitalizzazione di mercato maggiore di TSLA entro 6 mesi

Entrambe sono „religioni“ anche se TSLA ha così tanti rischi intorno a Elon Musk mentre BTC è di proprietà e gestito da una gigantesca comunità decentralizzata che cresce ogni giorno. È una scommessa sulla gestione del rischio. Divulgazione completa Possiedo 2 TSLA. “

Al momento della scrittura, la capitalizzazione di mercato di Bitcoin è superiore a $ 428 miliardi, mentre quella di Tesla è di $ 616 miliardi.

In una recente intervista con Real Vision, Novogratz afferma che sia Bitcoin che Tesla fanno parte di un mercato rialzista su larga scala guidato da tassi bassi e crescita in aumento

“Stavo parlando con una delle – non nominerò nomi, ma stamattina una delle cinque leggende letteralmente più importanti nel mondo degli investimenti. Ho detto, sono preoccupato per Airbnb in aumento del 120% il primo giorno, Snowflake con 100 volte le entrate e stavo parlando con un altro amico che è passato da $ 2 miliardi a $ 8 miliardi … e mi preoccupa davvero.

Capisco che manterremo i tassi bassi per sempre e la crescita sta aumentando. Amo il grezzo, sono lungo il grezzo. Puoi essere lungo rame. Avremo una grande sorpresa per la crescita all’inizio del prossimo anno, e poi nel secondo trimestre esploderà. C’è un motivo macro per essere lungo. Il suo punto di vista era, ha detto, ascolta, è spaventoso. Non ha senso. Devi decidere, lo guiderò o no?

Quindi nessun rimpianto se decidi di non cavalcarlo, come se stessimo cavalcando questa bolla frenetica di questo nuovo regime in cui ci troviamo quando stampi più denaro di quanto abbiamo mai visto prima. Ciò che sta guidando Bitcoin sta riportando indietro Tesla e Snowflake e ogni impresa „.

This multimillionaire is sure that Bitcoin will explode the $ 250,000: he wants to convert all his fortune!

All in crypto or nothing – Bitcoin valued at $ 150,000 by November 2021? In any case, this is what Raoul Pal, a known investor in the cryptosphere, is planning. The latter announced his desire to sell his current assets (in gold) to buy more and more bitcoins and ethers.

A news that leaves you speechless

On his tweet published today, Raoul Pal specifies that he wanted to sell his gold reserves to buy 80% bitcoins and 20% ethers. The investor chose this distribution because bitcoin remains the current benchmark crypto – an „easy bet“ therefore , while ether seems likely to further appreciate according to him.

The amount invested would represent 98% of its capital . In addition, Pal justifies the surge in cryptocurrency prices by the presence of a large amount of institutional liquidity , which is currently circulating in the market.

Institutional investors increasingly fond of cryptos

In reality, the investor is firmly convinced that the value of bitcoin is no longer driven by individuals, but by institutional agents who have more liquidity. In recent weeks, the publications of institutional companies on Bitcoin have multiplied, which supports this thesis. Indeed, important new players, such as Square and PayPal , have entered this market.

Paypal Bitcoin BTC

Macroeconomic factors must also be considered, including the current health crisis. According to Raoul Pal, governments will have to inject liquidity for a faster economic recovery. This action could first lead to a devaluation of fiat currencies, which would push investors to turn to bitcoin as a safe haven . Then we could see a massive supply of financial markets, including cryptocurrency.

Ripple sells shares in MoneyGram for the first time

Ripple (XRP) invested in the world’s second largest provider of international transfers (remittances) in 2019.

Now, for the first time, the company is selling about a third of its shares in MoneyGram

Ripple announced in a filing to the US Securities and Exchange Commission last Friday that it plans to sell four million shares of MoneyGram by March 31, 2021 .

As a result, Ripple would only have 2.3 million shares in MoneyGram. However, the company has an option that entitles it to purchase 5.9 million additional shares. In total, Ripple is entitled to 8.2 million MoneyGram shares.

In terms of percentage ownership, Ripple sells about 33 percent of its MoneyGram shares when you include the share purchase options. A representative of Ripple told the crypto magazine TheBlock about the sale as follows:

This is a purely financial decision in order to take profits on our investment in MoneyGram

The sale has nothing to do with the current status of our cooperation.

In fact, the sale of the shares brought the company a price gain of almost 80 percent compared to the initial investment.

Ripple and MoneyGram partnered last year to use XRP as part of MoneyGram’s cross-border payments business to process foreign exchange payments. As part of the agreement, Ripple invested $ 50 million in MoneyGram . The partnership agreement is limited to July 2023.

Square invests in Bitcoin USD 50 million, find out about this and more

Through a statement, it was known that the company led by the CEO of Twitter, Square, is investing USD 50 million in Bitcoin.

Square, the payment company led by Twitter CEO Jack Dorsey, announced Thursday that it has purchased 4709 BTC. This means that Square is investing USD 50 million in Bitcoin Union which represents the company’s total assets.

„Square believes that crypto currency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which aligns with the company’s purpose,“ the company said in a statement.

„We believe that BTC has the potential to be a more ubiquitous currency in the future,“ said Square’s CFO, Amrita Ahuja. „For a company that is building products based on a more inclusive future, this investment is a step on that journey.

The listed company’s Cash application has been offering BTC sales for several years, becoming a major revenue driver.

The release details that, Square has previously invested in BTC from a product, leadership, and legal innovation perspective, and today adds this financial investment. So it’s not surprising that Square is investing USD 50 million in Bitcoin.

The company launched the Bitcoin trade in 2018 with the Cash application, which allows the purchase and sale of bitcoins.

In 2019, the company formed Square Crypto, an independent team focused solely on contributing to BTC’s open source work for the benefit of all.

Also, it recently launched Cryptocurrency Open Patent Alliance (COPA), a non-profit organization that fosters innovation and cryptography by opening access to patented crypto-inventions.

Murda Beatz becomes a new Bitcoiner after buying some BTC

Murda Beatz, known for his popular music collaborations with Drake, Nicki Minaj, Travis Scott and others, has bought some BTC.

Announcing the news to his 283,200 followers on Twitter. Beatz „saluted“ artist Jermane Prime and Morgan Creek Digital co-founder Anthony Pompliano for being instrumental in making the purchase.

Anthony Pompliano congratulated him on becoming a new Bitcoiner. And, he asked his fans to welcome him, which they did with pleasure.

Murda Beatz (Shane Lee Lindstrom) is a Canadian record producer. She has worked on eight Grammy nominated albums with the likes of: Cardi B, Travis Scott, Nipsey Hussle. He produced Drake’s big hit „Nice for What“, which was number 1 on the Billboard Hot 100 for 8 weeks.

Bitcoin addresses grow by Chinese means

Failed Bitcoin ATM robbery puts Canadian companies out of business

A Canadian store was severely damaged during an attempted robbery of a BTC ATM and is no longer able to serve customers.

As reported by the Vernon Morning Star, the front of the L&D Meats and Deli store in Kelowna, British Columbia, was destroyed. Two suspects backed up their GMC Sierra white pickup truck as they fled the scene.

Police said the couple, who are currently on the run, had been attempting to rob a BTC ATM. Early Wednesday morning from the business next to the deli.

A store employee, Mike’s Produce, said the suspects had been unable to remove the ATM, which was located on the inside back wall. Despite thousands of dollars in damage, nothing has been stolen, Officer Solana Pare, spokeswoman for the Royal Canadian Mounted Police in Kelowna, said in the report.