American entrepreneur and author of the book "The Price of the Future" Jeff Boothhas called Bitcoin a must-have asset for investment in the current financial situation.
Jeff Boothhas writes that even before the COVID-19 pandemic, the combined public debt of all countries in the world was $ 250 trillion, with a total global annual GDP of $ 135 trillion. At the same time, $ 185 trillion of debt has been accumulated over the past 20 years. After the pandemic, the situation got worse.
According to the analytical portal Coinmetrics, the boom of decentralized financing projects also affects stablecoins - the capitalization of the stable cryptocurrency market is growing by about $ 100 million per day.
"Everyone got so excited about DeFi no one pointed out that stablecoins have been adding $100m/day since mid-July. DeFi yields/interest rates are clearly a vacuum sucking in a lot of stablecoins," Coinmetrics co-founder Nic Carter wrote on Twitter.The founders of the Gemini cryptocurrency exchange Cameron and Tyler Winklevoss believe that Bitcoin is much more reliable than gold, because there are huge reserves of this metal on asteroids.
Popular trader Dave Portnoy interviewed the Bitcoin billionaires of the Winklevoss, in which they stated that Elon Musk will someday mine gold from asteroids, so it is better to invest in Bitcoins. The value of Bitcoin and gold is in the limited supply of these assets, but if gold is mined in space, then its price will collapse.
Michael Sonnenshein, managing director of Grayscale Investments, believes that approving Bitcoin traded exchange traded funds (ETFs) is just a matter of time.
"We think the launch of ETFs on Bitcoin is a matter of time. Regulators have done an excellent job, they are trying to stay on the cutting edge of the development of digital assets as a class," said Sonnenshein in an interview with Anthony Pompliano, founder of Morgan Creek Digital.
According to the latest report from the Kraken cryptocurrency exchange, a 31% drop in Bitcoin trading in June led to BTC's annual volatility reaching a six-month low.
According to Kraken in its report, June was the most unremarkable month on the Bitcoin trading market since February. The lack of activity on the market led to a decrease in trading volume on the exchange to a four-month low of $ 36.6 billion.According to the latest report from the Kraken cryptocurrency exchange, a 31% drop in Bitcoin trading in June led to BTC's annual volatility reaching a six-month low.
According to Kraken in its report, June was the most unremarkable month on the Bitcoin trading market since February. The lack of activity on the market led to a decrease in trading volume on the exchange to a four-month low of $ 36.6 billion.
PayPal and its Venmo mobile payment service plan to provide their 325 million users with the opportunity to directly purchase cryptocurrencies.
This was reported by CoinDesk, citing sources familiar with the situation. The publication notes that at the moment PayPal can be used to withdraw funds from some cryptocurrency sites, but the service has never been used to purchase cryptocurrencies before.
American economist and trader Nassim Taleb wrote that Bitcoin is a good idea, but most cryptocurrency users do not understand the nuances of its work.
Nassim Taleb participated in a discussion on Twitter with the "Bitcoin maximalist" Giacomo Zucco. Zucco questioned Taleb's views on the imposition of central planning by bureaucrats and politicians, since they have no "personal interest in the success" of this strategy.
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