Ripple Emerges In the 28th Spot on CNBC’s 2020 Top 50 Disruptive Companies

CNBC has announced its 8th annual Disruptor top 50 list and the blockchain payments provider – Ripple – has been ranked 28th in the list released on Tuesday.

CNBC stated that the list is meant to identify as well as recognize private enterprises whose solutions and innovations are influencing competition among businesses as well as in the market at a higher rate. CNBC stated:

“The startups [that made] the 2020 Disruptor list are at the epicenter of a world-changing in previously unimaginable ways, turning ideas in cybersecurity, education, health IT, logistics/delivery, fintech, and agriculture into a new wave of billion-dollar businesses.”

Apart from Ripple, renowned crypto-friendly app Robinhood also landed at number 46.

The process involved about 1,355 companies that were considered eligible for nomination back in April. The list was then reduced to 180 startups. CNBC then decided to add an extra evaluation step where firms were required to explain how the COVID-19 pandemic had affected their overall business.

The announcement explained that the majority of those that ended on the list had positive outcomes ranging from increased products, new hires, recent product launches as well as product pivots to aid in dealing with the challenges occasioned by the virus.

Ripple has been on an expansion mission starting from January when the coronavirus crisis began by adding an extra 50 partners from across the globe, with its total number of partners now being 350. The firm is currently working on a payment corridor in Brazil.

Despite the positive news, it seems that the ranking of Ripple on CNBC’s list had little impact on the value of its token, XRP. At the time of publication, XRP’s value had risen by merely 1.81% and was trading at $0.195.

The CNBC announcement also noted that most of the listed companies have already entered the coveted billion-dollar business class. Thirty-six of the businesses are already ‘unicorns,’ meaning that their valuation has reached $1 billion. The 50 companies have so far raised more than $74 billion in venture capital and are cumulatively valued at approximately $277 billion.

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Author: Joseph Kibe

Here’s How Bitcoin Bull Run Will Start at $20,000

  • CNBC call for a 17% upside in bitcoin price
  • A wave of investors driven by FOMO will enter when we break into a new high
  • Bitcoin’s investment flow presently growing an order of magnitude (10x) every 4 years – on-chain analyst

Bitcoin price is still hovering around $10,250, not continuing the momentum but not sliding down either.

However, with CNBC making a call for a bitcoin boom, it might be time to get ready for a drop as CNBC’s call for bitcoin works as a reverse indicator.

According to the mainstream media outlet, despite bitcoin’s pull back above $10,000, the rally is far from over. MKM Partners chief market technician JC O’Hara told CNBC on Wednesday,

“When we look at cryptos as a whole, they tend to trade in two distinct phases. The first being dormant consolidation, which is followed by phase two, which is a high-momentum phase.”

“When you look at bitcoin we’re starting to see signs that the dormant consolidation from the second half of last year is slowly starting to change in terms of positive bullish momentum here.”

CNBC: A 17% Upside Coming

On a year-to-date basis, the world’s leading cryptocurrency has surged over 38% after finding a bottom in December. Ever since then, bitcoin has been on a steady rise. O’Hara said,

“We broke out of the downward sloping trend channel. We’re breaking above the $10,000 psychological level, and we’re of the opinion that positive momentum will continue to follow positive momentum. So that’s why we think in the short term we could see $12,000 on bitcoin.”

Currently, bitcoin is trading at $10,250 and a move to $12,000 would imply an upside of 17% from the current levels. Back in July, last year bitcoin briefly topped at $13,900 but we have yet to break into an all-time high.

Open field above $20,000

Bitcoin, the best performing asset of the decade with an upside of nine million percent would pull in another wave of investors driven by FOMO when we break into a new high, according to Jake Chervinsky, Counsel at Compound Finance.

Bitcoin remains a speculative asset for the newbies, he said while sharing his first foray into bitcoin which was after the flagship cryptocurrency made an ATH during the bull market of 2017 at $3k despite having heard of it in 2015. And this is why the bull market will start at $20,000. Vijay Boyapati said,

“Once the prior all time high is breached, there is no longer an overhang of supply. The price is free to run wild in an “open field”. This is when Bitcoin’s price appreciation begins to accelerate apace.”

Bitcoin making new all-time highs, Boyapati explained last June, will trigger a “feeding frenzy,” that will see media attention returning and new entrants attracted by the “allure of quick profits” which in turn even drive prices higher even faster. And that’s when the price will “eventually reach a crescendo top.”

Still too early to be an alternative to traditional stocks?

Mark Tepper, president of Strategic Wealth Partners, is also dipping a toe into bitcoin as he shared with CNBC,

“Overall, we’re seeing investors just continue to diversify away from traditional stocks and bonds towards alternatives. Bitcoin could fit into that alternative sleeve, but I still think it’s a little too early.”

Tepper holds bitcoin but hasn’t become a believer yet because according to him, it is “not an investment just yet still a speculative play.

However, on-chain analyst Willy Woo noted, in 2019 Visa processed $8.8T through their network while Bitcoin processed $727b meaning Visa accounts for 10% world GDP (payments) and Bitcoin 1%. Analyst Woo said,

“Bitcoin’s investment flow (aka annual investment velocity) is presently growing an order of magnitude (10x) every 4 years.”

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Author: AnTy

Grayscale’s Q3 Report Shows Impressive Growth In New institutional Interest of Crypto Assets

Michael Sonnenshein gave an interview for CNBC on November 20, saying Grayscale’s recent Form 10 filing with US regulators would be great for the crypto industry if approved.

At the beginning of this week, the asset manager Grayscale filed a Form 10 registration statement for the Grayscale Bitcoin Trust (GBTC), which is its Bitcoin (BTC) publicly traded fund. The registration was taken to the US Securities and Exchange Commission (SEC).

The Trust Would Make Grayscale the First Crypto Reporting Company

If it gets through, the trust would make Grayscale the first cryptocurrency reporting company. Sonnenshein noted in his interview that the institutional interest in crypto products is increasing, adding about the third quarter of 2019:

“84% of inflows were from non-crypto hedge funds that want digital asset exposure.”

GBTC is trading since May 2015. Sonnenshein said the trading volume over the last 3 months has tripled, regardless of how Bitcoin (BTC) has performed on all spot markets. When asked about how important the SEC approval is for Grayscale’s Form 10 filing, he stated that exposure is gained by diligent companies who are regulated, adding that compliance benefits are important, but not more than having products that “look and feel” like the ones used by institutions.

Bitcoin Price Will be Determined by Halving and not Institutions

Sonnenshein further suggested that in case of Form 10 it is regarded as effective, the institutions needing SEC reporting companies would have more access to invest, while investors would gain quicker options for liquidity as they’d be able to reveal their holdings after 6, and not 12 months.

When asked about what can impact the Bitcoin price, he said institutional investors won’t have anything to do with it, and that the halving or a decrease in supply will matter the most. Grayscale’s filing with SEC comes after the trust had a record year in which it has seen $254 million in inflows for its products, only in 2019’s third quarter.

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Author: Oana Ularu

Federal Liquidity Injection is Equivalent to 13 Million Bitcoin (BTC) Per Day into the Markets

According to a report by CNBC, the Federal Reserve is significantly increasing the amount of temporary liquidity that it is providing the financial markets. Currently, it is providing $75 billion for repo operations, but this will increase to $120 billion this week. Repo is a form of short-term borrowing from dealers that comes in the form of government securities. The report explains that the New York Fed made the announcement but did not explain the reason for the increase.

Mike Shumacher, the global head of rate strategy at Wells Fargo Securities, stated that the injection is evidence that the Federal Reserve “will not back off” as the year-end nears and that it is seeking to take out more insurance.

7 Bitcoins reported that if the amount were converted to bitcoin, then the actual rate would be 12,903, 226 BTX.

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Author: Silvia A

Fidelity Vice President: Bitcoin Risks for Retail Investors Much Different Than Institutional Investors

In an interview with CNBC Squawk Box, Kathleen Murphy – the Fidelity Investment’s Personal Investing President, states – “We want to be very careful that investors don’t –who aren’t institutional investors don’t make a mistake with cryptocurrency.” The bitcoin market has acquired almost 90 percent of the retail-based, which has made the company anxious about its digital cash contribution.

For retail financial investors, bitcoin has proven to be far less secure than it is for institutional investors. Abigail Johnson – Fidelity’s CEO is a colossal enthusiast of cryptographic money, yet the organization is mindful of how it needs to offer its bitcoin and trading services to its shareholders.

All things considered, the firm wouldn’t like to provide trading services on a retail level. Kathleen affirmed that Fidelity is adopting digital currencies since they need to perceive it deeply. And keeping in mind that doing as such, they need to be creative and attentive about the digital cash space.

Big Companies Need Bigger Clients

The US Securities and Exchange Commission (SEC) gave an extensive view on why it wouldn’t like to support a bitcoin-based subordinate. It had dismissed the Bitcoin ETF application documented by Bitwise Asset Management and NYSE Arca. It has raised worries about bitcoin’s utilization in unlawful exercises, and on how a larger part of the bitcoin market is outside the US with no administrative oversight, which makes it powerless to value control, as per the securities regulators.

Direct digital money trading services will be provided to institutional investors according to the Boston firm. In such matters, Fidelity additionally launched a cold stockpiling custodianship administration, a managed computerized vault that would store digital forms of money to back on-and off-ramp performing the exchanges on its foundation.

Bitcoin has experienced a low in its institutional interest. Bitcoin has failed to meet expectations as a place of refuge resource against a string of poor macroeconomic impetuses, proving that shareholders are not taking a gander at the digital currency amid an emergency.

As of late, Bakkt saw its first block trade settle; still, their physically settled BTC fates items are encountering low volumes. Only 149 month to month contracts were processed by the ICE-sponsored on its first day, uncovering that investors are keener to concentrate on the result of the US-China exchange talks, Brexit, and other worldwide elements.

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Author: Sritanshu Sinha

CNBC Host ‘Bitcoin Joe’ Trashes Facebook’s Libra Cryptocurrency for a Few Key Reasons

CNBC host Joe Kernen commonly known as ‘Bitcoin Joe’ is not hiding the fact that he is not a fan of Facebook’s Libra, CCN reports. In a reaction to reports that the Libra founding members are rethinking about the project due to the criticism from different quarters, the Bitcoin convert elaborated that he has never been a fan of the Facebook coin ‘one bit’.

Kernen stated that he dislikes Libra since its centralized. Well, there have been skepticism on whether Libra crypto is decentralized with Kernen stating that it would be very easy for one’s data to be stolen in Libra.

The other reason why Kernen does not like Libra is because its from Facebook. According to the host, the social media giant has tarnished its name after numerous data scandals. One of the major reasons behind the recent hostile reception of Libra is because of its parent company’s previous scandals as was cited during the Congress hearing about the project.

Kernen also cited that the monetary policy issues were a major concern. He said that everyone will be required to keep float. There have been concerns about how liquidity and inflation will be controlled within Libra as everyone with an account will have a chance to adopt Libra.

According to the CNBC host, the crypto will not be adding any value to already what is available in the financial market. According to him it is just like another card. Well, he has a point if the list of partners in the project is anything to go by…..Mastercard, Visa and Paypal.

The last attack on Libra was that it lacks inherent value in that it is pegged on Fiat currency. Kernen explained that he doesn’t like it since it doesn’t have no inherent value like antiques, gold or Bitcoin which he said had unforgettable value.

Libra has been facing a harsh reception since Facebook announced its plans to release the cryptocurrency. There are doubts whether it will wither the storm and finally get into the market.

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Author: Joseph Kibe