Tyler Winklevoss tells CNBC that ‘Cash is trash’

He believes that investors will eventually send Bitcoin’s price over $500,000.

Not one to mince words, Tyler Winklevoss reportedly told the business network CNBC that “Cash is trash.” In his view, it’s only a matter of time before investors dump the dollar and other fiat currencies for BTC:

“At some point, it is hard to look at those data points and say that Bitcoin isn’t an incredible store of value.”

His twin brother Cameron Winklevoss also said that Bitcoin (BTC) “just needs to be better than gold” to see its value rise to remarkable levels.

The twins, who run the United States-based cryptocurrency exchange Gemini, believe BTC will eventually hit $500,000 — mirroring a recent forecast from Catherine Wood, CEO of ARK Investment Management.

Crypto enthusiasts believe Bitcoin’s recent run-up is different from previous market cycles because of the influx of institutional investors into the space. Bitcoin’s maturation leap also suggests that the digital currency is carving out a permanent place in the financial system.

As Tyler Winklevoss implied, Bitcoin’s adoption curve is accelerating amid fears of a historic debasement in national currencies like the U.S. dollar. These debasement fears were at the heart of a June forecast from Goldman Sachs, which called for higher gold prices.

Unlike Bitcoin, the price of gold has languished in recent months, with the spot price now trading 14% below its August all-time high.

The bullion market has seen significant outflows in recent weeks, while holders of Bitcoin have accumulated even larger positions. Raoul Paul, CEO of Real Vision Group, recently told his Twitter followers that he will liquidate his entire gold portfolio for Bitcoin and Ether (ETH).

from https://ift.tt/39xx1yX
https://ift.tt/3fP186f

Comments

How to play and earn in CryptoKitties

CryptoKitties is a blockchain-based game where players can buy, sell and breed digital cats with unique attributes. Reminiscent of Tamagotchi and Pokémon, the wildly popular digital pets and creatures of the 1990s, CryptoKitties is a blockchain-based game where players can collect, trade and breed digital virtual cats. CryptoKitties was the first Ethereum-based game, and its popularity underscored many of the network’s scaling issues. This digital cat-breeding blockchain game caused quite a bit of congestion on the Ethereum blockchain, peaking in 2020. However, the game’s creators were able to address these issues. What is CryptoKitties? Launched in 2017, CryptoKitties was built by Dapper Labs, the company that uses blockchain technology to bring nonfungible tokens (NFTs) and new forms of digital engagement to fans around the world. CryptoKitties is also considered one of the world’s first-ever blockchain games. In the game, each one of the digital collectible cats possesses a

Bitcoin dominance falls under 40%

While Bitcoin critics claim this means that BTC is losing its first-mover competitive advantage, others are anticipating the “altcoin season” is just around the corner, or might even be already underway. Bitcoin’s market dominance has continued to fall, bottoming out below 40% this week. That’s very close to the all-time low of 36.7% in Jan 2018 according to data from Tradingview. Bitcoin ( BTC ) market dominance refers to the ratio between BTC’s market cap and the total crypto market cap. It's not the first time dominance has dipped in 2021. Back in May, Cointelegraph reported that BTC had dipped to represent just 40.3% of the combined crypto asset capitalization, according to Coinmarketcap, and it neared the same level again in September. Bitcoin critic and Europac chairman Peter Schiff tweeted about the event on Dec 29th, saying that it’s indicative that BTC is “losing its first-mover competitive advantage.” With over 16,000 alternative cryptos to choose from Bitcoin

Five Bitcoin Price Charts Analyzing The Dramatic Q1 2022 Conclusion

There are only hours remaining until the Q1 2022 close in Bitcoin price action. With the important quarterly candle set to close tonight, let’s look at what technicals might say about the direction of the next quarter. Q1 2022 Comes To A Close For Bitcoin The first quarter of a year, often sets the tone for the year to come. In investments, a poor Q1 performance is indicative of a bad year ahead. Considering the fact that Bitcoin price is now above $45,000 after touching $32,000 this quarter, it is tough to say the performance has been “poor” by anything other than crypto standards. Related Reading | Bitcoin Weekly Momentum Flips Bullish For First Time In 2022 The cryptocurrency has recovered nearly 40% from the low, leaving a long wick behind. Such a long wick suggests that before the quarter came to a close, buyers stepped up in a major way. Buyers were able to step up in a larger capacity in Q1 2022 than bears were able to in the final quarter of last year. The bearish wick to cl

Crypto Coin Search

Search This Blog