level today and climbed to the $510 level where it currently rests.

The broader cryptocurrency market sentiment remains bullish, but a few assets have seen their prices observing slight retracement from the day’s opening price.

Bitcoin Cash started the year with little to no momentum on either side as the price consolidated at the $350 level. The price continued to oscillate around the mark for a few days until January 3 when Bitcoin Cash price broke above the $375 mark.

The buyers initiated a bull rally that carried the price from the $350 mark to the $425 price level. BCH observed a correction at the level that caused the price to fall back to the $400 level. The price initiated another bull rally on January 5 albeit with a lower gradient.

The second bull rally enabled BCH to leave the $400 level and climb above the $450 level. However, the price failed in closing above the $450 mark and retraced to support level at $425. The price traded close to the mark until today when the BCH markets finally observed strong bullish momentum once again.

BCH rose from the $425 level to above the $500 level with strong bullish momentum. The price has climbed above the $520 mark and trades at $523.44 at press time.

Across the technical indicators, the MACD shows a bullish reversal as the 12-day EMA rises above the 26-day EMA. With the increasing sizes of the green candles, the indicator will only continue to turn more bullish. The indicator currently shows a bullish momentum in the markets.

The RSI has been on a steady increase and has risen above the 70.00 level. This suggests that there is low room for immediate upwards movement. If BCH continues to rise at this pace, the Bitcoin Cash price may observe another correction.

Overall, 18 of the 28 major technical indicators issue a buy signal while only three indicators are issuing a sell signal. Meanwhile, seven indicators remain neutral, showing no support towards either side.

The Bollinger bands are currently expanding, suggesting an increase in Bitcoin Cash price volatility across the short-term.

Traders should expect Bitcoin Cash price to establish support at the $500 psychological level. BCH should be expected to continue rising but with a slower and more sustainable pace. BCH may rise above the $525 level by early tomorrow.

Conversely, if Bitcoin Cash price falls below the $500 level, BCH may revisit the $425 support level. However, that seems unlikely given the strong bullish pressure observed in the markets

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

blockchain forked meaning a separate cryptocurrency was created called bitcoin cash. The way a fork works is instead of creating a totally new cryptocurrency (and blockchain) starting at block 0, a fork just creates a duplicate version that shares the same history. So all past transactions on bitcoin cashs new blockchain are identical to bitcoin cores blockchain, with future transactions and balances being totally independent from each other. For practical matters, all this really means is that everyone who owned bitcoin before the fork now has an identical amount of bitcoin cash that is recorded in bitcoin cashs forked blockchain. But its not exactly this easy. If you control your own private keys, or hold your bitcoin in an exchange that said it would credit users balances with bitcoin cash, youre fine and can access your newfound cryptocurrency right now. If you held your bitcoin with a provider like Coinbase, which said before the fork they arent planning on distributing bitcoin cash to users or even interacting with the new blockchain at all, then you may be out of luck. To be clear this doesnt mean companies like Coinbase and Gemini are taking your bitcoin cash for themselves. Its just that they think its a distraction and not really going to be worth anything in the long run. If this proves to be false and the coins hold value, these companies will most likely end up distributing them to users. Whats so special about bitcoin cash? If you know anything about cryptocurrencies you know there are a ton of them. Like thousands of them. Some are legitimate and substantially different (arguably better) than bitcoin, and some are pretty much just copycats trying to make a quick buck. Bitcoin cash is just another modified cryptocurrency. But its getting more attention right now for a few reasons: First, it was created as a result of forking bitcoin core, and not created from scratch. But this isnt new other cryptocurrencies have also forked from bitcoin in the past, and are nowhere near as valuable as bitcoin cash currently is. That being said, it does mean that anyone who held bitcoin before yesterday now potentially has access to an equal amount of bitcoin cash, which is giving it a lot of attention, as people are saying its free money. Secondly, its getting attention because the hard fork was timed to coincide with bitcoin core activating a change in its code called BIP 148, which was a highly publicized event in itself. This Bitcoin Improvement Proposal was the result of months of negotiation among major players and activated Segregated Witness, something that will help bitcoin core scale going forward. Is it worth anything? Right now, bitcoin cash is actually worth quite a bit on paper at least. Some are trading it at around a value of $400 per coin, which makes it the fourth-largest cryptocurrency by market cap right now. But heres the thing its currently really hard to sell bitcoin cash. While some exchanges have added the new currency for trading, liquidity is super low, which is why some say the price is being artificially inflated. Because most exchanges arent accepting deposits yet, the only bitcoin cash available to trade is currency that was credited by exchanges after the fork. Users holding bitcoin cash outside of exchanges, or in exchanges that dont support trading, are stuck waiting. So the moral of the story is that theres probably a ton of bitcoin cash waiting to be sold, as soon as people can transfer it. Thats because theres not a whole lot of incentive to keep the coins, especially when people think it is overvalued and want to quickly cash out. And the price has already fallen take a look at the price moment today in USD. Its already down from a high of $680 to around $350 on Bitfinex, one exchange that is offering a market for the new currency. Now this isnt to say its going to be worthless. Just look at Ethereum Classic, a hard fork of Ethereum. After that fork it dropped to about $1 per ETC, but a few months later is now worth around $15 per ETC. Of course, this price pales in comparison to the $220 that regular Ethereum currently trades at. By the way, if youre wondering why exchanges arent accepting deposits of bitcoin cash, its because its nearly impossible to send bitcoin cash over the blockchain right now. This is because the newly forked blockchain hasnt yet adjusted its difficulty, which happens automatically every 2016 blocks. So its taking way too long to mine blocks and confirm transactions. For reference, one block today took 10 hours to mine, compared to the 10 minutes it should. Most exchanges require 6 or 7 block confirmations before they credit a deposit, so you can see how its basically impossible to move around bitcoin cash. Now what? So whats next? The general consensus in the cryptocurrency community is that most people are just going to sell bitcoin cash as soon as they get the chance to which, if happens, will further drive down the price. But theres always a chance that people will flock to this coin and it actually retains or appreciates in value. Essentially, like everything else in crypto, no one knows whats about to happen next. Source: TechCrunch WTF is bitcoin cash and is it worth anything? Leave a Comment Please Login to add a post 99129', { 'providers': ['google','linkedin'], 'callback_uri': (window.location.href + ((window.location.href.split('?')[1] ? '&': '?') + "oa_social_login_source=custom")), 'css_theme_uri': t.css' }); Click here to cancel reply Name * Email * Website Your Comments Bitcoin Cash Bitcoin market cap bitcoins blockchain Cryptocurrency News

moved $7 million worth of BTCs to unknown wallets. This happened just some hours ago.

According to a series of tweets, yesterday, by the advanced crypto tracker Whale Alert, wallets linked to Bitfinex’s 2016 security breach have moved 620 Bitcoins (BTC) — worth roughly $7 million at the time of writing — in over 4 transactions.

The biggest loot of the four transactions was 308.43 BTC (3,491,285 USD) of stolen funds transferred from Bitfinex hack in 2016 to an unknown wallet.

READ MORE: Bitcoin thieves move 3,897 BTC worth $42 million in 1 hour

Recall about a week ago, Narametrics broke the news on how BTC thieves in less than 48 hours stole 3503 BTC worth $38.5 million. This is more than the 119 756 BTC stolen in 2016.

Back story: In 2016, a top official at Bitfinex, in a statement credited to Reuters, disclosed that 119,756 Bitcoins were stolen from users’ accounts. To date, the BTC robbers responsible for these heists have only been able to move only 1-2% of the funds from the exchange.

READ ALSO: Bitcoin surges pass $11,500, BTC wallets activity hit 2.5 year high

The world’s flagship currency is trading above the strong resistance level above  $11,200 with a market capitalization of about $208 billion.

How easy is tracking BTCs? It should be noted that Bitcoin is not really anonymous because all BTC transactions are kept permanently and publicly on the blockchain or ledger system, so it’s very easy for anyone to see the transactions and balances of any BTC address.

What this means: Blockchain security and security agencies have flagged the BTC wallets containing the stolen BTCs, making it very difficult to move the 119,756 BTC without being noticed.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading and Financial market reporting.He is a Member of the Chartered Financial Analyst Society. Follow Olumide on Twitter @tokunboadesina or email [email protected]

surrounding the upcoming Bitcoin Cash hard fork. The fork will be contentious with neither side in agreement and it's highly likely that two chains will emerge. So, what will this mean for the most famous Bitcoin fork and will it affect its longevity moving forward? Let's take a look. In any development project, there are always differences of opinion over which features are the most important, what upgrades are needed, whose opinions should be taken into account, and how to continuously and sustainably fund the project. All these challenges are par for the course and all cryptocurrency projects face them every day, implementing different solutions that best suit the needs of their projects and communities. With the growing protagonism of governance tokens, we're seeing more and more blockchains trend away from hard forks and put the decisions about development direction directly in the hands of community members who accumulate voting rights and reach an agreement on proposals. However, when it comes to Bitcoin Cash, no such mechanisms exist and, if the developers cannot reach an agreement, the only option is to stage a hard fork. With a hard fork over block size already occurring exactly two years ago, that saw the emergence of Bitcoin SV, Bitcoin Cash is becoming notorious for being unable to settle its disputes. The upcoming hard fork on November 15 will take place between developers in disagreement over the funding of Bitcoin Cash. On the one side, you have a group of developers, proponents of Bitcoin ABC, who are proposing an upgrade to the network that would, among other things, redirect 8% of mining rewards to the development team. This may seem like a plausible way of funding the development of this popular altcoin, after all, popular coins like Zcash have had a similar system in place for years; but it's been met with more than a little opposition. Most notably, Roger Ver, heading up the opposite faction for BCHN, is against the miner tax, believing it to clash with Bitcoin Cash's decentralized ethos and likening it to a "Soviet-style central planner’s dream come true," on Twitter. BCHN is also planning to make some changes but in the form of an algorithm and uncontroversial upgrade that will end variations in Bitcoin Cash's difficulty and hash rate and ensure a fairer profit share between steady Bitcoin Cash miners and ones that mine across different networks. It also has security measures against Replay attacks baked in. At the current moment, more than 80% of miners are signaling support for BCHN by adding messages to newly mined blocks, such as "Powered by BCHN." Just 0.3% of miners are currently supporting Bitcoin ABC's proposal, which means it looks very likely that BCHN will emerge as the dominant chain. If this happens, exchanges will agree to assign the Bitcoin Cash name and BCH ticker to the chain with the most hashing power and highest price. You can read the details of OKEx's policy toward the Bitcoin Cash hard fork here. Bitcoin Cash hasn't exactly put in a stellar performance when compared with Bitcoin in 2020. In fact, at a time when Bitcoin is gaining momentum and posting YTD gains of 115%, Bitcoin Cash is trading at record lows against BTC, even lower than in 2018. And while other altcoins like Ethereum and up-and-coming DeFi protocols and tokens have seen outstanding results and registered record gains, Bitcoin Cash seems to be sliding in popularity. Yet another contentious hard fork may rattle Bitcoin Cash investors and hurt the coin's prospects for the long term. As we can see from the declining price and hash rate, this certainly appears to be affecting the altcoin right now. However, the key to longevity lies in iteration and coins must seek to improve and upgrade as they evolve. It could also be that the hard fork serves to finally resolve the miner tax issue that's been dogging the BCH community for too long, repairing developer differences, and shoring up the network, making it more robust, secure, and less susceptible to attacks. In short, it could be good for Bitcoin Cash in the long term. Either way, just like the rest of the crypto community, OKEx will be watching with interest as the latest drama unfolds. This material should not be taken as the basis for making investment decisions, nor be construed as a recommendation to engage in investment transactions. Trading digital assets involves significant risk and can result in the loss of your invested capital. You should ensure that you fully understand the risk involved and take into consideration your level of experience, investment objectives and seek independent financial advice if necessary. The pioneer digital currency hit a new multi-year high at $16,491 and settled above the critical resistance of $16,000. At the time of writing, BTC/USD is changing hands at $16,350. 

whether the government would allow it to happen and how bitcoin can become a true currency.

Brian Wesbury is an economist with a focus on macroeconomics and economic forecasting. He is currently the chief economist at First Trust Advisors, a financial services firm headquartered in Wheaton, Illinois.

He was asked on Fox Business News last week about what would happen “if the masses were to ditch fiat currency,” whether it will “trigger a financial collapse,” and “could bitcoin ever replace the dollar?” Wesbury began by acknowledging:

A lot of people who are buying bitcoin and other cryptocurrencies believe that they are going to replace the dollar.

He explained: “if they were to replace the dollar, if you take all the of the M1 — its all of the checking accounts and cash — in the system, you divide it by all the bitcoin that can exist — 21 million of them — you end up with over $300,000 worth of worth if it replaced the dollar.”

However, he raised a number of questions: “Will the government allow that to happen? Can you pay your taxes in bitcoin? Can you buy anything you want with bitcoin?” The economist opined:

That’s what has to happen for you to have a true currency … so it’s a long way away from that.

The chief economist did not mention that a growing number of jurisdictions are already embracing bitcoin for tax payments. For example, the canton of Zug in Switzerland announced that it will start accepting bitcoin for tax payments this year. Several other local governments in Switzerland have made a similar announcement, such as Zermatt.

Recently, the mayor of Miami said that he is working on allowing payments for city services in bitcoin. Furthermore, a growing number of stores are accepting bitcoin payments. Payments giant Paypal, for example, is planning to allow people to use cryptocurrency to pay for goods and services at 2.8 million merchants in its network this year.

Wesbury also claimed that the volatility of bitcoin is one of the problems. As an example, he said he hopped into his car with two bitcoins in his pocket. “When I got to the car dealer, I didn’t know if I could buy two cars or half a car and that’s one of the problems with bitcoin.” He concluded:

It’s so volatile that we don’t know really what it’s worth.

Do you agree with Wesbury? Let us know in the comments section below.

Spot-markets for Bitcoin, Bitcoin Cash, Ripple, Litecoin and more. Start your trading here.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

The massive stash of bitcoin reserves held by well known companies started swelling after the billion-dollar firm Microstrategy purchased $250 million worth of bitcoin in August. Now there are 29 firms that are holding the cryptocurrency in place of traditional reserves like stocks and cash.

There’s been a new trend lately, as a great number of prominent companies have decided to leverage bitcoin (BTC) for reserves rather than hold traditionally held assets. The trend started gaining ground after Microstrategy purchased $250 million worth of BTC and shortly after, the firm continued to purchase even more bitcoin. After a few purchases, Microstrategy has upped its holdings to 70,470 BTC or .336% of the supply. Following Microstrategy’s purchase, businesses like Square Inc. and Ruffer Investment Company joined the bitcoin purchasing trend.

To-date there’s an aggregate total of 29 firms listed on the website bitcointreasuries.org, a site that tallies up all the companies in three different sections; publicly traded, private, and ETF-like holders.

There’s a total of 15 publicly traded firms including Microstrategy Inc., Galaxy Digital Holdings, Square Inc., Hut 8 Mining Corp, Voyager Digital LTD, Riot Blockchain, Inc., Bit Digital, Inc., Coin Citadel Inc., Advanced Bitcoin Technologies AG, Digitalx, Hive Blockchain, Cypherpunk Holdings Inc., Bigg Digital Assets Inc., Argo Blockchain, and Frmo Corp. All 15 of these publicly traded firms have approximately 100,003 BTC worth

The section of private companies holding bitcoin treasuries includes four private companies including Mtgox k.k., Block.one, Tezos Foundation, and Stone Ridge Holdings Group. The private companies have more than the public firms by a longshot with 317,383 BTC worth — in all four firm’s reserves.

There are nine ETF-like holders at the bottom of the bitcointreasuries.org list with funds like the Grayscale Bitcoin Trust, Coinshares, Ruffer Investment, 3iq The Bitcoin Fund, Grayscale Digital Large Cap, Bitwise 10 Crypto Index Fund, WisdomTree Bitcoin, 21shares AG, and ETC Group Bitcoin ETP.

The bitcoin (BTC) stash held by the nine funds is approximately 734,232 BTC worth — using today’s exchange rates. Out of all 29 companies, the Grayscale Bitcoin Trust is by far the largest BTC holder with 572,644 BTC. Other notable holders include the Mtgox k.k. Holdings, Block.one’s stash, Microstrategy’s reserves, and the holdings held by Coinshares. The web page bitcointreasuries.org, does not include a few other firms that have replaced traditional assets in their treasuries for bitcoin.

This includes the Canadian restaurant chain Tahini’s, and the Canadian graphics software company, Snappa. Tahini’s restaurant chain revealed the company swapped all of its cash reserves into BTC, while Snappa said the business traded 40% cash reserves for bitcoin.

The publicly listed Canadian company Mogo also just announced investing 1.5% of the company’s reserves in bitcoin, and plans to buy more next year. When Tahini’s decided to tell its financial advisor it was purchasing bitcoin right afterward, he suggested gold. The restaurant owners said the precious metal gold’s years of being a reliable safe haven are numbered.

“We looked our financial advisor in the eye and told him gold will turn into a scam because of bitcoin,” the company tweeted. “He laughed and condescendingly came back with the 6,000 years argument,” Tahini’s added.

What do you think about all the companies that have purchased bitcoin for reserves? Let us know what you think about this subject in the comments section below.

The post The Bitcoin Treasuries List Exceeds $30 Billion – 29 Companies Hold BTC Reserves appeared first on Bitcoin News.

to Bitcoin.

“Getting paid in Bitcoin? That’s the second stupidest idea I’ve heard,” said Colbert with a chuckle, implying the first would be:

“Apparently these people hooked up their dong cages to the net and then they got hacked [...] Of course this is going to happen — it’s one thing to give control of your deprivation box to a loved one, but it’s quite a leap of faith to say: let’s put my junk up in the cloud.”

“Bitcoin joins a rich tradition of made up currencies like Camel Cash and the Euro,” said Colbert. “Bitcoin has worth just because a bunch of people on the Internet have agreed that it is worth something.”

“If you don’t know what Bitcoin is… wanna buy some Bitcoin? No? You sure?”

At the time of publication, the price of Bitcoin is $39,350, having risen more than 40,000% since that segment was broadcast eight years ago.

Article source

The massive stash of bitcoin reserves held by well known companies started swelling after the billion-dollar firm Microstrategy purchased $250 million worth of bitcoin in August. Now there are 29 firms that are holding the cryptocurrency in place of traditional reserves like stocks and cash.

To-date there’s an aggregate total of 29 firms listed on the website bitcointreasuries.org, a site that tallies up all the companies in three different sections; publicly traded, private, and ETF-like holders.

There’s a total of 15 publicly traded firms including Microstrategy Inc., Galaxy Digital Holdings, Square Inc., Hut 8 Mining Corp, Voyager Digital LTD, Riot Blockchain, Inc., Bit Digital, Inc., Coin Citadel Inc., Advanced Bitcoin Technologies AG, Digitalx, Hive Blockchain, Cypherpunk Holdings Inc., Bigg Digital Assets Inc., Argo Blockchain, and Frmo Corp. All 15 of these publicly traded firms have approximately 100,003 BTC worth

The section of private companies holding bitcoin treasuries includes four private companies including Mtgox k.k., Block.one, Tezos Foundation, and Stone Ridge Holdings Group. The private companies have more than the public firms by a longshot with 317,383 BTC worth — in all four firm’s reserves.

There are nine ETF-like holders at the bottom of the bitcointreasuries.org list with funds like the Grayscale Bitcoin Trust, Coinshares, Ruffer Investment, 3iq The Bitcoin Fund, Grayscale Digital Large Cap, Bitwise 10 Crypto Index Fund, WisdomTree Bitcoin, 21shares AG, and ETC Group Bitcoin ETP.

The publicly listed Canadian company Mogo also just announced investing 1.5% of the company’s reserves in bitcoin, and plans to buy more next year. When Tahini’s decided to tell its financial advisor it was purchasing bitcoin right afterward, he suggested gold. The restaurant owners said the precious metal gold’s years of being a reliable safe haven are numbered.

“We looked our financial advisor in the eye and told him gold will turn into a scam because of bitcoin,” the company tweeted. “He laughed and condescendingly came back with the 6,000 years argument,” Tahini’s added.

What do you think about all the companies that have purchased bitcoin for reserves? Let us know what you think about this subject in the comments section below.

The post The Bitcoin Treasuries List Exceeds $30 Billion – 29 Companies Hold BTC Reserves appeared first on Bitcoin News.

Article source

cryptocurrency revolution have turned what was once considered an oddball peanut gallery in the financial world into the next trillion-dollar asset class. And as they count their digital coin, they’re ready to take a bow.

Take Cameron Winklevoss, the cryptocurrency entrepreneur who alongside his twin brother Tyler sued Facebook, claiming Mark Zuckerberg stole their idea for the social networking site. In 2012, the Winklevii took the relative pittance Zuckerberg flicked at them to go away and stashed it in Bitcoin. They were mocked for years. Two Harvard-educated rowers seeking fame and fortune in digital currencies—alongside nerds, anarchists, speculators and worse. Now Bitcoin is soaring to new highs and pulling in a stampede of followers from mainstream finance and society. As Zuckerberg has become more controversial, the Winklevii have something to say about moving on from Facebook: Good riddance.

“Bitcoin has surpassed Facebook $FB in market cap,” tweeted Cameron Winklevoss as Bitcoin soared over $40,000 per coin, then $41,000 and beyond, on Friday. Added Winklevoss, “Makes sense that a money network would be more valuable than a social network.” Sure, the Winklevii still have a lot of catching up to do—Mark Zuckerberg is worth $94 billion—but the bravado isn’t exactly misguided: the recent surge in crypto means that Forbes estimates each of the Winklevii owns $1.4 billion in digital assets, as of Monday morning, more than double what they were worth just a month ago.

Over the past year, the gravity-defying stock market has given most investors a reason to grin, but none are smiling wider than bitcoin holders. While the S&P 500 has jumped 17% from the start of January 2020 through January 11, 2021, bitcoin has spiked 400% in that same time, breaching $40,000 a coin and sweeping other digital assets into its rising tide. All cryptocurrencies are now collectively worth more than $920 billion, according to crypto research site Messari, down from roughly $1 trillion on Friday.

One key factor driving the frenzy: As Covid led the Federal Reserve to print trillions of dollars to stimulate the economy and head off a recession, investors increasingly saw bitcoin as a hedge against inflation. Unlike the 2017 price rally from $1,000 to $19,000, which was driven by retail investors, the recent uptick has been propelled by large institutional investments and a proliferation of ways to buy and store crypto. 

In 2020, payments giant Square used $50 million of its corporate treasury to buy bitcoin—an investment now valued at $161 million. Hedge fund billionaire Paul Tudor Jones said as much as 2% of his assets were in crypto, and private equity giant Northern Trust revealed plans to make it easier for its clients to store bitcoin, ethereum, XRP, litecoin and bitcoin cash. PayPal lets its 300 million customers buy bitcoin and spend it at any of the 26 million merchants it supports.

Along the way, some crypto investors have gotten very rich. At least five have recently crossed into the billionaire ranks, possibly quite a few more. Using everything from publicly available digital wallets to old-fashioned reporting, we set out to identify some of the biggest winners of this latest crypto boom. It is by no means a complete ranking but captures just how much some fortunes have soared.

All cryptocurrency values are as of January 11, 2021 at 8 am ET. For Forbes’ last cryptocurrency billionaires list from February 2018, we calculated the value of entrepreneurs’ company stakes and their cryptocurrency investments. For this list, we only included their cryptocurrency investments.

The cofounders of cryptocurrency exchange Gemini, which now does about $300 million a day in digital asset trades, were among the first recognizable names to buy bitcoin. By April 2013 the entrepreneurs, who initially rose to fame for hiring Mark Zuckerberg to build a precursor to Facebook (and later sued Facebook for stealing their idea), reportedly owned $11 million worth of bitcoin, then valued at about $120 per coin. Assuming they’ve held onto most of those coins and their ether tokens, they’d each hold more than $1.4 billion in digital assets. (The brothers declined to comment.)

In the late 1990’s and early 2000s, Roszak worked in venture capital and as an entrepreneur (he also settled insider trading charges in 2006) before buying his first bitcoins in 2012. Today his day job is cofounder and chairman of Bloq, a five-year-old blockchain technology startup with clients like Citigroup and Discover. Bloq consults on everything from payment processing for “stablecoins”—or cryptocurrencies pegged to a traditional currency’s value—to helping banks store digital assets securely. Roszak has long been a crypto evangelist and recently co-led an initiative to give every member of Congress $50 worth of digital assets. Forbes estimates his crypto net worth is $1.2 billion, up from roughly $300 million a year ago. “This is going to be the Roaring 20’s for bitcoin,” he told Forbes.

Part of the Silicon Valley-based Draper family investing dynasty, in 1985 he became a founding partner of Draper Fisher Jurvetson, a venture capital firm that has made hundreds of investments in companies ranging from Tesla to the now-defunct blood testing company Theranos. In 2014, he says, he bought 29,656 bitcoins that had been confiscated by the U.S. Marshals from the shuttered Silk Road black market for $18.7 million (price: just $632 per coin). “Dollars are the currency of the past,” Draper told Forbes in an email. “Bitcoin is the currency of the future. What we are seeing now is the global anthropological transition from dollars to bitcoin. Seeing this, I continue to be a HODLer and a BUYMOREer.” Draper declined Forbes’ requests for an interview. Assuming Draper has held onto everything he bought in 2014, his crypto would be worth $1.1 billion.

The CEO of business analytics firm MicroStrategy exploded onto the bitcoin scene in 2020, leading MicroStrategy to invest more than $1.1 billion in the cryptocurrency at an average price of about $15,964 (those coins are now worth $2.4 billion). He cited concerns about the devaluation of the U.S. dollar as a result of the Federal Reserve printing trillions of dollars, and is now leading an effort to customize his company’s software to analyze bitcoin data. MicroStrategy’s stock has quadrupled since it announced its first bitcoin purchase on August 11. In October, Saylor revealed that he had personally spent about $175 million on 17,732 bitcoins; —today, they’re worth $600 million. Add that to his $1.2 billion stake in MicroStrategy and we’ve got another new billionaire.“The American Dream requires that the currency be sound,” says Saylor.

After a series of bad investments evaporated much of his wealth, this hedge fund titan from Goldman Sachs and Fortress Group has been reborn a crypto guru. Novogratz is the founder and CEO of Galaxy Investment Partners, which specializes in investing and developing cryptocurrency-related services. In 2013 he reportedly personally invested $7 million in bitcoin, later using those assets as Galaxy’s seed funding. Based on disclosures from September 2020, Forbes estimates Galaxy’s crypto assets are worth about $621 million, a 300% jump in four months. Since Novogratz owns 77% of the company, that makes his stake worth $478 million. This does not include cryptocurrency he might personally own, which he declined to disclose.

The inventor of Ethereum—the second-largest cryptocurrency network, now valued at $123 billion—has also gotten a big bump lately. He is better known for his academic and social interest in cryptocurrency than for being an investor. But that doesn’t mean he’s a martyr for his cause. He currently owns more than 333,000 ether, worth roughly $360 million. One year ago, those same digital coins would have been worth just $45 million.

With additional reporting by John Hyatt.

reported late last year, the firm had halted sign ups for six of its cryptocurrency trusts. This included its Bitcoin, Ethereum, Bitcoin Cash, Ethereum Classic, Litecoin and Digital Large Cap Fund trusts. 

The company had indicated that the public window for investors had closed at the end of the year in order for ‘private placement’ rounds to take place. Existing clients of Grayscale were unaffected by the move.

Reports at the time also noted that the six month lock-up period for shares in the Bitcoin Trust that were bought in June 2020 had ended which played a role in the firm’s temporary halt on new investment signups.

As the Grayscale Investments product page shows, eight of its ten cryptocurrency trusts are accessible once again to accredited investors. The Ethereum Trust is still listed as currently unavailable.

The Grayscale XRP Trust is also listed as unavailable, following the firms decision to liquidate all of its XRP holdings after the launch of an ongoing lawsuit by the US Securities and Exchange Commission against Ripple for what it alleges is an unregistered securities offering through the sale of XRP tokens for the past few years.

Grayscale announced its XRP liquidation in early January 2020 and used the proceeds to increase its holdings of : Bitcoin, Ethereum, Litecoin and Bitcoin Cash.

Grayscale Investments became an SEC reporting company last year which requires it to release quarterly updates of its portfolio performance. The firm also frequently publishes updates of its assets under management (AUM) through its social media channels.

The latest update from Grayscale, released on January 11, indicated that its total AUM is now up to $24.5 bln. The BTC Trust still accounts for the lion’s share of that value, with its total holding worth $20.6 bln.

of bitcoins), if accumulated over time, it can turn to something big.

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The bonuses are cumulative, so you can get up to a 300% bonus!   As for the other Moon brothers of altcoin (cryptocurrencies other than Bitcoin), 25% of their claims are obtained from the ref.   If you use the same e-mail that you used for the other Coinpot faucets on registration, this will be automatically linked to Coinpot. I remind you that on Coinpot it is possible to exchange without fees from one crypt to another, which gives you the possibility to reach the payout threshold in less time.    What can we say, let’s fight everyone to accumulate Bitcoin Cash! To date, the value of Bitcoin Cash is € 1,250, but who knows that in the coming months is not worth much more.

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When most faucets only allow a user to claim once per hour or once per day, Moon Cash allows claiming as often as one likes. The faucet gradually fills up and you can claim a small amount every 5 minutes or wait for a larger amount to build up before claiming.

Moon Cash offers the following bonuses or incentives:

There is nothing you can lose, try it now, it takes less then a minute to register and start earning free Bitcoin Cash!

Moon Cash uses CoinPot for instant payment of your earnings. If you do not already have a CoinPot account then you must register first.

You might be having problems making a faucet claim for one of the following reasons…

If we detect that you have blocked adverts or they aren’t showing up in your web browser then we will prevent you from making a faucet claim. If any of our adverts are not showing then there must be something blocking them on your browser/device. This may be an ad-blocking browser plug-in or extension – if so, please disable your ad-blocking browser plugin/software or add this page to the exception list.

This faucet web site is designed to work on the broadest range of web browsers and devices possible. However it may be that your browser/device is not supported and you receive an error message when you try to claim. If so, please try a different browser or device to check that this is the problem before contacting us about it.

Moon Bitcoin Cash offers you 25% lifetime commission + up to 100% claim bonus!

Refer your friends, enemies, and everyone else to Moon Cash and receive a massive 25% lifetime commission on all their faucet claims! All commission payments are paid instantly to your CoinPot account.

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forever.

This is the situation German programmer Stefan Thomas found himself in, after being given 7,000 Bitcoin as payment for a video ten years ago.

At the time, the digital currency was worth a few dollars each, but that price has now soared to more than £25,000 pounds – which would make Thomas’s fortune worth £175 million pounds.

After receiving the Bitcoin, he stored them on an IronKey – a digital wallet which requires a password to access.

But he’s since lost the password after writing it down on a piece of paper – and he doesn’t have a clue what it might have been.

If he fails to enter the password correctly 10 times, the hard drive will encrypt itself – leaving the money lost forever.

‘The whole idea of being your own bank – let me put it this way, do you make your own shoes?’ Thomas told the New York Times.

‘The reason we have banks is that we don’t want to deal with all those things that banks do.’

Many in the cryptocurrency community are looking to create digital, decentralised version of banks, too – but they’re nowhere near as popular as Bitcoin is.

Since his costly mistake went viral after being reported in the New York Times, offers from across the world have come in to help him retrieve the money, like Facebook’s ex-head of security Alex Stamos.

There are many more Bitcoin millionaires locked out of their fortune, too.

It’s estimated that more than £100 billion pounds worth of the Bitcoin has been lost to wallets that can’t be accessed, according to cryptocurrency-data company Chainanalysis.

Businesses decicated to retrieving the lost cash can receive multiple requests each day.

Bitcoin has surged in value in recent months, as investors and institutional money has flocked to the cryptocurrency.

Many investors have began storing their money in cryptocurrencies as an alternative to the wild swings of the stock markets.

But Bitcoin has had its own rocky patches, with many experts warning against it as a ‘safe haven’ investment.

Many questions still remain about Bitcoin, from fraudulent trading using high-profile hacks to illegal activity (some estimates put the level of criminal activity at a quarter of all Bitcoin transactions).

Some economists have also noted that the Covid-19 pandemic has made investors think about their long-term storage options, as the world is re-shaped for a post-Covid future.

MORE : Bitcoin tops $30,000 for the first time

MORE : PayPal will start letting users buy and sell bitcoin

Not convinced? Find out more »

that sidelined capital is moving back into BTC.

In the cryptocurrency market, many traders sell crypto assets, like Bitcoin, to stablecoins rather than cash.

Stablecoins, such as Tether (USDT), is pegged to the value of the U.S. dollar and are tradable across exchanges.

Most exchanges require a complicated Know Your Customer (KYC) verification process for bank transfers, and cash deposits into exchanges could take a long time.

As such, if a whale or a high-net-worth investor wants to buy and sell millions of dollars worth of Bitcoin, stablecoins can be far more convenient than cash.

The high demand for stablecoins from traders has led the valuation of Tether to increase in recent months. Last month, the market cap of Tether surpassed $20 billion. A month later, this number is already above $24 billion, indicating a rise in sidelined capital within the cryptocurrency market.

Meanwhile, stablecoin deposits into exchanges have increased substantially over the past 24 hours. CryptoQuant tracks the wallets of exchanges and observes stablecoin deposits and outflows.

Across major exchanges, stablecoin deposits spiked noticeably on Jan. 13, right as the price of Bitcoin began to recover.

On Jan. 13, the price of Bitcoin dropped to as low as $32,500 after nearly $1 billion worth of futures contracts were liquidated.

Investors were actively buying the dip, as shown by the increase in stablecoin deposits and the increasing open interest of the Bitcoin futures market. As a result, Bitcoin saw a quick turnaround, rallying by more than 10% overnight.

Alex Saunders, a cryptocurrency analyst, said that stablecoins are “flooding exchanges,” which is often indicative of a bullish trend.

Prior to the recovery, Michael van de Poppe, a full-time trader at the Amsterdam Stock Exchange, said an all-time high is likely for Bitcoin if it surpasses $38,000 again.

Overnight, the price of Bitcoin pierced through the $38,000 resistance area, which Van de Poppe pinpointed. Hence, in the short term, BTC is on track to retest its record-high. He said:

Bitcoin’s rally also coincides with the opening of Grayscale’s products on Jan. 13. If the value of Bitcoin continues to rise, it could propel more institutional and accredited investors to obtain exposure to BTC through the Grayscale Bitcoin Trust (GBTC).

There is also a strong argument to be made that the reopening of GBTC kickstarted the rally, to begin with, signifying that the uptrend is led by institutions, not by retail investors.

price levels of $276 and $308 over the day.

Bitcoin Cash price chart by Trading View

The BCH price stood at the $294.71 mark as the 24-Hour trade began, after which the price line returned past the $300 mark before 06:00 GMT. By 09:00 GMT, the cryptocurrency had risen to a day’s high of $305.57 US Dollars.

The cryptocurrency’s price turned bearish before noon and it fell to the $292 mark by 12:00 GMT. As the day proceeded, the price line gradually stepped down on the chart. The 21st of August was closed by the cryptocurrency, with a price of $282.50.

At the time of writing, Bitcoin Cash was observed trading at a price of $284.19 US Dollars. The 20-Day Exponential Moving Average (20EMA) was observed at $283.67, and the 50-Day Moving Average (50MA) was seen at $282.60 at the same time.

The Trading View analyst Mduchow is of the opinion that the cryptocurrency will fall short on its charts after a brief rise towards the $302 level.

On the 21st of August, the price line rose from the $292 level towards the $305 mark, after which the cryptocurrency receded towards the $281 mark. The primary target price for this trade lies near the $250 to $260 range, while the analyst also believes that Bitcoin Cash may fall to the $206 to $230 price range.

The trade became active on the 21st of August after the price line approached the $305 to $310 range, as it was suggested in the idea by the crypto analyst.

Disclaimer: The information provided is not trading advice but an informative analysis of the price movement. Cryptopolitan.com holds no liability towards any investments based on the information provided on this page.