Altcoins Talks - Cryptocurrency Forum
Cryptocurrency Ecosystem => Bitcoin Forum => Topic started by: emma.lee1890 on October 30, 2018, 03:35:37 PM
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Bitcoin in Brief Thursday: Big Money Wears Big Horns, Claws Are In the Closet
In today’s Bitcoin in Brief we’re talking about big money and big expectations. While the ratio between bulls and bears is constantly changing in the crypto market arena, experts working with venture capital investments and large crypto trades report positive trends and share optimistic sentiments. On that backdrop, “Why is our digital society still using a yellow metal to store value?” is a good question.
“We should think of crypto assets as a venture capital investment. They can go to 0, but there is a chance that they could be worth much more. In the case of bitcoin, it would be worth $90,000 if it became equal to private gold bullion holdings, about $1.6 trillion of total value compared to $150 billion or thereabouts today. It’s a bet, it’s a risk that I’ll be willing to take”, the investor told CNBC.
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It is good that investors are discussing this topic and they no longer say that Bitcoin is a hoax and a bubble. This suggests that we are likely to be able to see the arrival of new investors in Bitcoin, the rise in prices and the next price records. Cryptocurrencies need investors in order to grow and increase the scope of cryptocurrencies around the world.
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Over the past three days, Valdis Dombrovskis, vice president of the European Commission, said that cryptocurrencies will co-exist with the financial system, Nasdaq is preparing to release a crypto analytics tool for investors, Citigroup has shared its plans to support crypto custody.
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I believe that investors have already bought quite a lot of Bitcoin, because most of all Bitcoin belongs to several large investors in several wallets. But the fact that new investors say that it is necessary to consider Bitcoin as a venture capital investment is a good sign for the entire crypto community, because only with the arrival of new investors will we see a rise in prices and a total capitalization of all cryptocurrencies.
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In recent months, we have heard many positive news about bitcoin but it did not reflect on the prices. I think we need more important news like ETF.