Tag Archives: crypto

Want to Win 100000 in Bitcoin by Eating Pizza? Here’s Your Shot

Want to Win $100,000 in Bitcoin by Eating Pizza? Here’s Your Shot

Pizza: A Bitcoin Staple

Pizza has long been an integral staple of the Bitcoin and cryptocurrency industry.

Back when Bitcoin was trading for literal cents, a computer programmer famously made the first real-life purchase with BTC, using 10,000 precious (then effectively worthless, as the market for them was so nascent) coins to purchase two pizzas from a user on BitcoinTalk, who ordered him Papa John’s. While 10,000 BTC was then chump change (then $40) for the programmer, Laszlo Hanyecz, that same sum of cryptocurrency is now worth some $100 million. Youch.

The trend of Bitcoin and pizza has continued years later. Earlier this year, Bitcoin payments upstart Fold recently released a fun portal based on the Lightning Network. Fittingly dubbed Lightning Pizza, it allowed consumers to purchase Domino’s with Lightning transactions, which are near-instant, effectively free, and (eventually) secured on-chain. Fold’s product lead, Will Reeves, told CoinDesk the following about his company’s newest venture:

“We’re trying to make bitcoin fun again and illustrate that lightning is at a point where it is mainstream-ready.”

And the crypto community celebrated.

Want To Win $100,000? First, Go to A Domino’s In France

The pizza motif has continued to make its presence known. As first spotted by Decrypt, the French branch of Domino’s Pizza is giving away $110,000 worth of Euros to celebrate its 30th birthday, giving customers of the chain a chance to win their prize in either fiat or Bitcoin. According to the website for this surprise competition, users will have a chance to enter into the draw from September 4th to October 6th.

The Importance of The Story

While some see the Bitcoin Pizza story as one that should be heeded as a warning not to spend BTC as a medium of exchange, some have begged to differ.

At an event in Los Angeles, Mati Greenspan, a lead analyst and cryptocurrency commentator at retail brokerage eToro, told a crowd that without Laszlo’s unfortunate run-in with pizza, “we likely wouldn’t be where we are today”.

Indeed, Laszlo’s showed the world — or all of BitcoinTalk at the time — that Bitcoin can actually be used as a medium of exchange, especially in a digital context.

While the dream of global payments hasn’t been had yet, with the CEO of Twitter even saying that Bitcoin currently isn’t equipped to become the Internet’s money, solutions like the Lightning Network are well on their way.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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JP Morgan Expects US Dollar to Lose Traction: Boon for Bitcoin

JP Morgan Expects U.S. Dollar to Lose Traction: Boon for Bitcoin

Drop USD?

According to JP Morgan, the U.S. Dollar may be on its way out. This may be bullish for Bitcoin.

Jan Nieuwenhuijs, an analyst of gold, recently tweeted out a report from JP Morgan — one of the world’s largest banks. The jaw-dropping report revealed that the famous bank believes that the USD could “become vulnerable to a loss of value relative to a more diversified basket of currencies, including gold”. The bank’s analysts cite the “persistent and rising deficits in the U.S. (in both fiscal and trade.)”

Indeed. Forecasts currently chart America’s fiscal deficit to reach $1 trillion within the next decade. This could result in a relative devaluation against a diversified basket, as the bank writes, and may actually be a catalyst for the U.S. Dollar to start to recede as the world’s reserve currency.

JP Morgan’s harrowing report echoes comments made by Mark Carney, the head of the Bank of England — the monetary authority behind the Pound. As reported by Ethereum World News previously, the central banker said that the world is in need of an entirely new monetary and financial system, citing his sentiment that the U.S. Dollar-based system that exists today is quite archaic. In fact, Reuters reports that Carney said the USD is currently playing a “destabilizing” role in the world economy, citing the effects of globalization and trade spats.

He added that with the dollar being the de-facto reserve asset of the world, with USD being a primary settlement tool for international trade and central banks hoarding the currency, “developments in the U.S. economy, by affecting the dollar exchange rate, can have large spillover effects to the rest of the world.”

To Aid Bitcoin

According to Raoul Pal, this next global system will be a boon for Bitcoin and gold. The former head of Goldman Sachs’s hedge funds sales division and current Real Vision CEO explained that this new infrastructure, which will nearly definitely by digital, will act as an on-ramp for the cryptocurrency market.

Indeed, the wide adoption of a digital form of money will acclimate society to transition to Bitcoin and decentralized solutions, especially if governments are encroaching on the privacy and safety of citizens.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Bank of England Admits Crypto is the Future US Dollar to Fall

Bank of England Admits Crypto is the Future, U.S. Dollar to Fall

Crypto is here to stay and the greenback is on its way out. That was the sentiment portrayed by the Bank of England’s Governor, Mark Carney, at the central bank meeting in Jackson Hole, Wyoming on Friday. Crazy, right?

Crypto a Topic at Central Bank Meeting

Over the past few days, the leaders of the world’s economy, the chiefs of and advisors to central banks the world over, have descended in a little town in (the pro-blockchain state) Wyoming, Jackson Hole. Financial media is also in attendance. There, these world monetary leaders are convening to talk about monetary policy and macroeconomic trends. This comes at an important time, as a growing number of Wall Street analysts and retail investors have begun to call for a recession, just as trade wars have raged and central banks have embarked on money printing sprees.

One interesting comment came from Mark Carney of the Bank of England, According to a report from Bloomberg, the leading central banker said that a Libra-like crypto asset has the capacity to replace the U.S. dollar as the world’s reserve currency. In other words, he’s saying that a digital asset backed by a diverse range of government assets, including bonds and fiat monies, has the potential to usurp the world’s go-to currency.

While he wasn’t exactly specific with his comment, Carney made it clear that the current system isn’t working in his eyes, saying that “in the longer term, we need to change the game”.

Of course, he didn’t explicitly say that a decentralized crypto asset is the future. But, the sentiment that a digital currency has the ability to literally overtake the world’s economy shouldn’t be taken lightly, even if it was made in reference to something as seemingly centralized as Libra.

t is important to note that if a consortium of central banks do go ahead with a Libra-like project, it is unlikely to be as corporate or decentralized/uncontrollable as Facebook’s David Marcus claims Libra will be.

Not His Only Interesting Comment

That wasn’t his only interesting comment. According to the same Bloomberg report, the U.K. monetary leader also stated that he believes the world is currently seeing “heightened economic policy uncertainty, outright protectionism and concerns that further negative shocks.” If you believe that Bitcoin is a proper store of value or safe haven/hedge, this comment should be seen as bullish for the “orange coin”.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Bitcoin Bleeds Out 6 Falls to 10500: Case for Bounce Growing

Bitcoin Bleeds Out 6%, Falls to $10,500: Case for Bounce Growing

Bitcoin Sheds 6%

Over the past few days, bears have managed to wrest the wheel of the proverbial Bitcoin car from bulls. And since then, this class of investors has been driving BTC off a cliff.

As per the time of writing this article, the cryptocurrency has found itself changing hands for $10,560 apiece, having shed 6% of its value in the past day. Data from Coin360 suggests that Bitcoin is down around 11% in the past week, marking one of the larger weekly losses in this bull market.

This dramatic move lower comes shortly after countless cryptocurrency investors on Twitter were calling for bulls to commence their next leg to the upside. In fact, just the other day, an analyst from Goldman Sachs — the world-renowned investment bank — eyed a “short-term target at $13,971” for BTC. Should the cryptocurrency encounter that level, that would mark a double top, as $14,000 is where Bitcoin reversed in late-June.

The analyst continued, writing that Bitcoin’s potential move to tap $13,971 may be the “first leg of another five-wave count similar to the trend that lasted from December 2018 through June 2019.”

And thus, they advised their clients to buy any retracement from their aforementioned short-term target, barring that BTC “doesn’t retrace further than the $9,084 low.”

BTC Likely to Bounce

While the drop may seem like it has no end in sight, analysts are starting to expect a bounce — at least one in the short term. Analyst Crypto Hamster recently explained that Bitcoin’s recent drop reminds him of BTC’s drop in late-2018 to $3,000 from $6,000. In other words, a bounce may ensue in the coming days.

He explained that structurally, the moves look similar. The legs lower are losing momentum, as marked by declining volumes; the RSI, Stochastic RSI, and MACD histogram hit “extreme lows” and have started to print bullish divergences; the biggest sell volume occurred a while before; sentiment is overly bearish. This may imply Bitcoin could soon see a relief bounce.

That’s not all. The Bitcoin Fear & Greed index has reached the December lows. The indicator, which aims to measure how the market is feeling about BTC’s price action, reads an 11 — “extreme fear”.

According to the makers of Bitcoin Fear & Greed Index, a bounce — a short-term one at least. A description of the index from the website reads:

“The crypto market behavior is very emotional. People tend to get greedy when the market is rising which results in FOMO. Also, people often sell their coins in irrational reaction of seeing red numbers. Extreme fear can be a sign that investors are too worried. That could be a buying opportunity.”

Indeed, the last time the index had such a low reading, Bitcoin bounced higher in the weeks that followed. In fact, when this indicator last flirted in the low 10s, BTC gained 20% in the weeks that followed.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Bitcoin Earning Service Lolli Bags Partnership With Safeway

Bitcoin Earning Service Lolli Bags Partnership With Safeway

Lolli Bags Big Partnership, Helps to Drive Bitcoin Adoption

To most consumers, getting their hands on Bitcoin (BTC) is an arduous task. For those that aren’t so-called “crypto natives”, onboarding onto an exchange that doesn’t carry that same brand name as, say, E*Trade or TD Ameritrade’s Think or Swim may seem risky, especially when you involve passport details and other personal information. But, there have been companies trying to change this moat, so to speak.

One of these is Lolli, a Bitcoin-centric rewards service that acts much like browser extensions Honey or Rakuten Rewards. Today, the company revealed that it would be partnering with major grocery chains, marking one of its most massive partnerships to date.

Speaking to Yahoo Finance, the chief executive of the startup Alex Adelman revealed that his firm is teaming up with Albertsons and Safeway — two popular chains in North America. Safeway has 900 stores; Albertsons has some 2,300.

While the details of the partnership have yet to be fully released, the firm is expected to be offering up to a 3.5% rebate on transactions at the grocery chains, pretty much allowing for investors to rack up dozens of dollars worth of Bitcoin over the course of a year’s digital grocery shopping trips.

This partnership follows one with Hotels.com — a leading travel service that gets over 55 million visits a month according to SimilarWeb data.

Hotels.com joins Priceline, Hotwire, Hilton, the Marriott, and many other travel-centric partners of Lolli. The travel service brings its 325,000 listed hotels and properties, which exist in 19,000 locations, to the table, giving Bitcoin-friendly consumer countless options to travel the globe in return for some juicy BTC kickback.

Lolli is hoping to capitalize on the massive travel industry, which it claims netted over $1.1 trillion in the U.S. alone during 2018. The company claims that if 5% of this $1.1 trillion sum was routed through Lolli and thus Hotels.com, travelers could have made back about “$1,925,000,000 worth of Bitcoin (~170,354 BTC)” just by downloading the web browser application. To some, not using Lolli is just irresponsible.

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Why Lolli?

Lolli was built by devotees to the “stacking sats (satoshis)” movement, which involves Bitcoin diehards that wish to accumulate the cryptocurrency as much possible, usually on a periodic basis. Their ranks include popular commentators in the industry, including Marty Bent, Mr. Hodl, and The Bitcoin Rabbi.

But what’s the deal here?

Well, those that are stacking sats are under the impression that Bitcoin will become a widely-used currency and store of value, making it nonsensical to not accumulate the asset when it’s still young. This ties in with the investment strategy of dollar-cost averaging (DCA), which sees investors spread out purchases over a period of time to reduce risk and increase potential returns.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Fundstrat: Bitcoin Fall to 10000 Healthy 20000 EOY Possible

Fundstrat: Bitcoin Fall to $10,000 Healthy, $20,000 EOY Possible

Bitcoin Correction to $10,000 is “Healthy”?

Bitcoin (BTC) has been absolutely slammed over the past five days. Since passing above $13,000 for the second time this year on Wednesday, the cryptocurrency has been on a clearly downward-sloping trend. As of the time of writing this, Bitcoin sits at $10,600 — down by around 25% from its year-to-date high of $13,900.

Despite this harrowing price action, which has resulted in a sentiment of “extreme fear” according to the Bitcoin Fear and Greed Index, Fundstrat’s Tom Lee is still quite bullish.

In a recent response to Morgan Creek’s Jason Williams, the Wall Street’s resident staunch cryptocurrency optimist, explained that it is “healthy” to see Bitcoin pullback here.

Backing his claim, Lee suggests that as Bitcoin’s search traffic, as calculated by Google Trends, is still low, the recent drawdown makes sense and could be deemed a “good sign”. You see, the fact that search interest for the “Bitcoin” and “crypto” keywords haven’t rallied to 2017 levels suggests that there isn’t “massive hype” gracing this budding market, which means that BTC has room to run and is only in the early stages of its next cycle.

And as The Crypto Monk, a popular trader, remarked in a tweet, in previous bull runs, BTC established a pattern of entering parabolic uptrends, breaking them, consolidating, before embarking on more parabolic uptrends. Barring that Bitcoin currently isn’t in a bull market, this same series of events could easily play out now.

$20,000, Maybe $40,000 by the End of 2019?

Lee’s persistent optimism comes as he has continued to eye $20,000, even $40,000 as price targets for Bitcoin to reach by the end of 2019. Here’s why he’s bullish.

In the interview, Lee said that all things considered, Donald Trump’s tweets regarding this industry are “positive” because they cement the idea that cryptocurrencies are a relevant topic on the global geopolitical and macroeconomic stage. Indeed, over the past few weeks, the words “Bitcoin”, “Libra”, and “Crypto” have begun to grace mainstream outlets and government hearings time and time again.

Lee expounded: Trump’s comments “makes the other 99% [of the world] more aware [of cryptocurrency].” And if 1% of this new audience somehow finds value in the cryptocurrency market, the size of the community surrounding this asset class would de-facto double instantly.

In previous interviews, the Fundstrat co-founder also looked to the launch of Libra; a growth in cases of dovish fiscal policy, which some say will increase the chances of a recession and large inflationary events; and geopolitical tension that could only bolster the fundamental need for decentralized money as other bullish catalysts.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Today’s Teens Don’t Like Bitcoin amp Crypto: What?

Today’s Teens Don’t Like Bitcoin & Crypto: What?

Gen Z Not in Love With Crypto Like Some Thought

You’ve heard what the talking heads say, Millennials, Generation Xers, and Generation Zers will be the first crypto-adopting demographic. You see, unlike baby boomers and those in and above that age range, those in recent generations grew up with technology in their hands, including video games that involved some form of digital money or digital item system, be that gold in Clash of Clans, skins in Counter-Strike or Team Fortress, EVE’s ISK, or what have you.

And, it has been a common trend that some of Bitcoin’s most staunch critics would be deemed “senior”. Just look to Warren Buffett, Peter Schiff, and Kevin O’Leary. These three investors have all bashed the leading crypto asset within the past few months.

Thus, many have drawn conclusions that the logical step will be for these technology adopters to find their way into the cryptocurrency industry to instantly fall in love with Bitcoin and its ilk.

According to a recent Business Insider report, a majority of those aged 13 to 21 surveyed by the outlet are not entirely bullish on Bitcoin. In fact, 52% of the 1,884 American respondents claimed that they are likely not going to invest in digital assets within the next six months.

It is important to note that this doesn’t mean Generation Z is bearish on Bitcoin per se. Instead, the harrowing figure may suggest that there is a lack of fiat onramps into the ecosystem for younguns, made clear by the fact that if you are legally considered a minor, it is very difficult for one to obtain Bitcoin or other digital assets with a debit card or PayPal. Also, this statistic could also be a sign that there aren’t enough proper educational portals for American teens about the value proposition of Bitcoin and cryptocurrency.

Still, with a mere 5% of Americans between 13 and 21 years of age claiming that they are most likely going to purchase cryptocurrency within the next half-year, it is apparent that there’s a copious amount of upside to be had. How can the upside be captured though? This writer has a few ideas

More likely than not, Bitcoin and crypto adoption via this demographic will not be had through inundating social media feeds with macroeconomic trends and why BTC is fiscally better than fiat currencies. Instead, adoption of this budding asset class could be achieved by showing how crypto and related technologies can improve the efficiency of transactions and digital processes.

Original article posted on the EthereumWorldNews.com site, by Nick Chong.

Article re-posted on Markethive by Jeffrey Sloe

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Facebook Looks to Bolster Crypto Team Even After Libra’s Launch

Facebook Looks to Bolster Crypto Team, Even After Libra’s Launch

Facebook’s Growing Crypto Squad

As first spotted by CoinDesk, Facebook’s crypto division is embarking on yet another hiring spree. This comes just weeks after reports suggested that the Silicon Valley darling’s so-called “Blockchain” division has already 100 staffers, led by PayPal Mafia member David Marcus and former Instagram executives.

Per a search for “Blockchain” on Facebook’s careers portal, the firm still has 26 openings for this branch. While the listings cover a wide array of roles, including designers and software engineers, one interesting posting mentions Facebook’s need for a blockchain finance program manager.

This position will best be filled by someone with eight years of project management experience, coupled with some knowledge of blockchain technologies. Responsibilities include managing Facebook’s relationships with Libra partners (Uber, Spotify, Booking Holdings, Visa, PayPal, etc.), risk analysis, and leading teams within Facebook.

Interestingly, one responsibility mentions compliance with tax laws, the U.S. Sarbanes-Oxley Act, and other pertinent regulations. This confirms that unlike its fully decentralized counterparts like Bitcoin, Libra will abide by all relevant rules and regulations.

As mentioned earlier, this is the latest of many of Facebook’s attempts to secure talent. Earlier this year, for instance, the firm revealed that it was looking for an individual with knowledge of the Securities and Exchange Commission (SEC). This single listing seemingly confirmed the then-rumors that the social media giant was hard at work on a crypto asset and blockchain.

By now, it may be fair to suggest that Facebook Blockchain is one of the biggest employers of industry professionals, despite the fact that it has yet to launch its first consumer-facing product.

Fears Grow About Libra

While Facebook has continued to trudge ahead, going against a U.S. politician’s call to stop the development of the project immediately, some government representatives, crypto executives, and technologists have begun to overtly question Libra.

Mark Carney, the Governor of the Bank of England, has pledged that Libra will be heavily scrutinized and regulated, citing the cryptocurrency’s potential to be widely adopted from the get-go.

French Finance Minister Bruno Le Maire followed suit with a similar comment, claiming that under no circumstances should Libra “become a sovereign currency.” Le Maire elaborated that he is worried about how this new digital asset can be used to harvest data, launder money, and finance terrorism:

“This money will allow this company to assemble even more data, which only increases our determination to regulate the internet giants.”

Indeed, in the aforementioned report, Coindesk claimed that its sources revealed that privacy concerns led Stellar, Tendermint, and Mobilecoin to decline to work with Facebook on this project. Even Joseph Lubin of Ethereum and ConsenSys fame has claimed that he is worried about Libra’s centralized nature, dubbing the project a “centralized wolf in a decentralized sheep’s clothing”.

If so-called “crypto natives” are concerned about the project’s conformity to morals and laws, is there much hope for Libra to be decentralized and not susceptible to exploitation?

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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If Bitcoin BTC Closes Week Above 8800 Crypto Set for Move Even Higher

If Bitcoin (BTC) Closes Week Above $8,800, Crypto Set for Move Even Higher

Bitcoin Rallies Hard Past $9,300

And just like that, Bitcoin (BTC) is right back above $9,000. The past 72 hours have been absolutely stellar for the crypto market, as it saw all digital assets gain notably across the board. BTC, most notably, moved from the low-$8,000s, where analysts expected heavy resistance, to $9,150 where it stands right now.

With this, the bullish cries of traders all across the industry have returned, despite the fact that they were calling for a massive pullback just weeks earlier. And more importantly, some have begun to claim that a massive move higher is still on the horizon.

In a recent tweet, prominent analyst Josh Rager, who has risen to prominence amid the crypto bear market of 2018, remarked that Bitcoin’s weekly chart is currently experiencing a massive “bullish engulfing candle”. This means that last week’s losses, which saw BTC fall from $8,800 to briefly tap $7,450, have been reversed, barring that we don’t close under $8,800 at 0:00 UTC on June 17th.

Rager claims that this pattern, which includes a strong pullback (black candle) and a subsequent bullish reversal (engulfing white candle), is what “led to continued uptrend last bull cycle.” Thus, he notes that if Bitcoin manages to finish this week strong, and not scale back by the 3% or 4% to $8,750, he will be convinced that BTC will continue on to post new yearly highs in the coming weeks and months. Analyst Nunya Bizniz pointed out this pattern exact too.

But where is that exactly? According to analyst Credible Crypto, BTC’s next stop would be in the high-$9,000s and low-$10,000s, which is where the next line of heavy resistance lies.

$10,000 is where BTC topped in last years’ bear market rallies, and where the asset found heavy resistance on its way up during the legendary 2017 boom.

Bulls on Parade

Regardless of what exactly plays out over the next few days, many are sure that a bull run is surely on. Rager recently noted that the Super Guppy, an indicator that singles out overarching trends, has flipped from red to grey on Bitcoin’s one-week chart after it flipped from grey to green on Bitcoin’s three-day chart. This occurred when BTC pushed past $7,000 just weeks ago. While the one-week Super Guppy isn’t green yet, signaling a clear uptrend, Rager notes that Guppys are “lagging indicator”, meaning that the change from red to interim grey makes for a “strong confirmation” of a bull trend.

This isn’t the only confirmation of a bull trend that BTC has recently seen. Per Josh Olszewicz, an analyst at Brave New Coin, the 100 exponential moving average (EMA) and 100 daily moving average (SMA) on Bitcoin’s daily resolution has only crossed six times in BTC’s history as a liquid asset. Most recently, BTC’s 100 EMA has crossed above its 100 SMA, a “bull cross” according to Olszewicz. The last time this technical signal came to fruition (late-2015, pre bull run), BTC rallied parabolically in the months that followed, peaking at $20,000 as we know well know.

And most importantly, Bitcoin recently closed its fourth consecutive weekly candle above its 50-week moving average, a series of events that have never failed to mark a bull run in the past.

Original article written by Nick Chong and posted on the EthereumWorldNews.com site.

Article posted on Markethive by Jeffrey Sloe

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Wealthy look to increase cryptocurrency exposure

Wealthy look to increase cryptocurrency exposure

BY PAUL SKELDON ON 3 MAY 2019

More than two-thirds of high-net-worth individuals will be invested in cryptocurrencies in the next three years, reveals a new global poll.

Carried out by deVere Group, one of the world’s largest independent financial advisory organisations, the survey shows that 68 per cent of poll participants are now already invested in or will make investments in cryptocurrencies, such as Bitcoin, Ethereum and XRP, before the end of 2022.

The 700-plus respondents are clients who currently reside in the U.S., the UK, Australia, the UAE, Japan, Qatar, Switzerland, Mexico, Hong Kong, Spain, France, Germany and South Africa.

High net worth is classified in this context as having more than £1m (or equivalent) in investable assets.

Nigel Green, founder and CEO of deVere Group comments: “The research shows that wealthy individuals are increasingly seeking exposure to cryptocurrencies.

“There is growing, universal acceptance that cryptocurrencies are the future of money – and the future is now. High net worth individuals are not prepared to miss out on this and are rebalancing their investment portfolios towards these digital assets.

“Crypto is to money what Amazon was to retail. Those surveyed clearly will not want to be the last one on the boat.”

Besides FOMO – the Fear Of Missing Out – Mr Green believes there are five main drivers for high-net-worth individuals’ surging interest in cryptocurrencies.

He explains: “First, cryptocurrencies are borderless, making them perfectly suited to an ever globalised world of commerce, trade, and people. Second, they are digital, making them perfectly suited for the increasing digitalization of our world, which is often called the fourth industrial revolution.

“Third, they provide solutions for real-life issues, including making international remittances more efficient, and help bank the world’s estimated two billion ‘unbanked’ population.

“Fourth, demographics are on the side of cryptocurrencies as younger people are more likely to embrace them than older generations.

“And fifth, institutional investors are coming off the sidelines and moving into cryptocurrencies, bringing their institutional capital and institutional expertise to the crypto market.”

The deVere CEO’s optimism comes as Bitcoin, the world’s dominant cryptocurrency, has registered a five-month high on Friday, reinforcing the view put forward by its recent upswing towards bullish territory.

Green recently told the media that he believes that Bitcoin will imminently test the crucial $6,000 price support, building confidence on the wider cryptocurrency market.

He added: “Once this confidence is in place, the sky is the limit for cryptocurrencies, which are increasingly accepted by both retail and institutional investors as the future of money.”

Of the latest HNW survey on cryptocurrency exposure, Nigel Green concluded: “The global poll underscores a justified international surge in crypto-optimism.”

Original article written by Paul Skeldon and posted on the telemediaonline.co.uk site.

Article posted on Markethive by Jeffrey Sloe

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