DeFi Ecosystem Acala Launches EMV for Polkadot-Ethereum Connection

Acala has stepped into the cross-chain functionality space with a new Polkadot-native EMV, as more blockchain projects seek to put a spin on cross-chain functionalities.

With the decentralized finance (DeFi) space seeing impressive growth, several blockchain developers have flocked into the industry, hoping to serve as viable Ethereum substitutes.

While Polkadot is one of the leading Ethereum competitors, a surprising new project is bringing the two rivals together.

Ethereum Developers Welcome

Polkadot stablecoin Acala has announced the launch of a native Ethereum Virtual Machine (EVM) that will bridge both the Ethereum and Polkadot blockchains.

The project explained that the Acala EVM had launched ahead of the ETHDenver 2021 hackathon in a tweet, bringing a surprising spin to the hopes of cross-chain interoperability.

According to the company’s announcement, the new EVM will allow Acala to provide full-stack developers’ tools using Substrate, Solidity, and Web3 to seamlessly integrate decentralized applications (dApps) and access the DeFi sector with a single wallet.

It will also provide protocol composability for EVM and Substrate runtime, allowing developers to deploy their applications on Acala without any tooling support.

All dApps developed will be able to use Polkadot-native and cross-chain assets like ACA, DOT, renBTCm, and more. They can also deploy ERC-20 tokens in the EVM and list them on decentralized exchanges to be used as gas fee tokens.

Acala’s developers dismissed the notion they were trying to steal some of Ethereum’s considerable market share in the DeFi space. Instead, they plan to empower project developers to access cross-chain functionalities. The statement read,

“We are firm believers in the power of Substrate and built the Acala EVM to optimize for Substrate’s full potential and longevity rather than simply redeploying Ethereum on Polkadot.”

Compound Finance Brings Cross-Chain Functionality

Cross-chain functionality is becoming more of a growing trend in the DeFi market. This feature allows Compound to provide its assets and DeFi projects to move freely across multiple blockchain platforms.

In a world where Ethereum continues to experience scalability problems and rising gas fees, projects like Polkadot have presented viable alternatives. With cross-chain functionalities, the blockchain takes a significant step towards widespread adoption by providing one of DeFi protocol developers’ most glaring needs in cross-chain functionality.

Last December, Compound Finance, a top DeFi lending protocol, announced Compound Chain, a standalone blockchain that allows Compound to offer its services on multiple blockchain networks.

In a whitepaper, Compound noted that its new blockchain would support new developments in the general blockchain and crypto space. These include Ethereum 2.0 and possibly even Central Bank Digital Currencies (CBDCs). Thanks to its cross-chain integration, assets developed on the chain will be immediately available for lending on other platforms, allowing users to access more borrowing choices.

Speaking on support for other blockchains, Robert Leshner, Compound Finance’s founder, explained to industry news sources that the project’s community would vote on the blockchains to support. However, support for Ethereum will be a no-brainer. As long as a blockchain works with smart contracts, it is a viable candidate for Compound Chain support.

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Author: Jimmy Aki

BTC’s Break Above 2017’s ATH of $20,000 Converts One into a Bitcoiner

BTC’s Break Above 2017’s ATH of $20,000 Converts One into a Bitcoiner

Ritholtz Wealth Management COO changes mind about Bitcoin, now advises holding 2% of a portfolio in BTC — so one is unlikely to get rich but unlikely to go bankrupt either.

As we enter into 2021, more and more people are turning into Bitcoiners.

The latest one is Nick Maggiulli, the creator of Of Dollars And Data and the Chief Operating Officer at Ritholtz Wealth Management, which has nearly $2 billion in assets under management.

In his blog post, Maggiulli admitted being “wrong” about Bitcoin as he said,

“There comes a point in every investor’s journey when they must admit that they were wrong about something.”

Titled “Why I’ve Changed My Mind on Bitcoin,” Maggiulli shared that this realization of being wrong about BTC came when the digital asset hit 2017 ATH $20k last month.

Although he didn’t think Bitcoin was ever “going to zero” he didn’t think either that Bitcoin would surpass these highs for many years, if at all.

According to him, more demand from buyers and reduced supply from sellers have helped boost Bitcoin’s price BTC 8.56% Bitcoin / USD BTCUSD $ 34,070.20
$2,916.41 8.56%
Volume 71.08 b Change $2,916.41 Open $34,070.20 Circulating 18.59 m Market Cap 633.43 b
3 h FTX Now Allows to Short or Long Grayscale’s GBTC & ETHE and Bitwise 10 Crypto Index (BITW) 4 h BTC’s Break Above 2017’s ATH of $20,000 Converts One into a Bitcoiner 5 h Grayscale Officially Removes XRP from the Fund; Addresses with Large Amounts of XRP Drops Sharply
and “cement it as a legitimate asset class within the investment community” which helped Bitcoin “become a form of digital gold,” he said.

He notes how Bitcoins’ floor price continues to go up, “increasing the likelihood of Bitcoin’s future survival.” As for intrinsic value, neither does $10 trillion market cap gold have any, he argues.

It’s all about belief, he said and in the case of Bitcoin, “the cult is becoming a religion.”

Maggiulli further noted that while bullion has been around for millennia, “it wasn’t until August 1974 in the U.S. that it was an investable asset class” which led to its prices to be tripled in the next six years.

Still, he only advises to “hold no more than 2% of your portfolio in it” which means “you’re unlikely to get rich, but you’re unlikely to go bankrupt either.”

But he clarified that his cautiousness towards BTC is not in terms of price but the “possibility of a government ban on ownership.”

Again, he points out how back in April 1933 the U.S. government did just that with yellow metal. And the recent SEC complaint against Ripple, has him not ruling this out completely yet.

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Author: AnTy

Too Afraid to Buy the Dips; Too Much FOMO to Resist Buying ATHs

12 years back, Bitcoin first came into existence with the genesis block having a reward of 50 BTC. The genesis block came with the text “The Times 03/Jan/2009 Chancellor on brink of second bailout for banks.”

In 2020, history repeated itself as central banks all over the world went crazy with money printing. This led institutions to see Bitcoin as a hedge against weak dollar and risk of inflation, making it part of their investment portfolio.

The unprecedented institutional interest in the crypto market had Bitcoin rallying to nearly $35k from the March low of 3,800.

Even at this record high price level, Anthony Scaramucci, the founder of SkyBridge Capital, which today announced its Bitcoin Fund, urged people to invest in it. “You’re still way early to Bitcoin if you’re buying today,” tweeted Scaramucci on Sunday.

“When you look at this bitcoin rally that we have been seeing in the last couple of weeks and months, really, there’s two big elements driving it. One is the continuous entry of institutional players,” PwC’s global crypto leader Henri Arslanian said Monday on CNBC’s “Street Signs Asia.” These institutional players have “an outsized impact on the markets.”

Arslanian who expects this trend to continue over the coming months said, there’s also “a lot of regulated players as well,” which was “not the case a couple of years ago.”

Combined with retail FOMO, “there’s a lot of momentum going on in the space.”

As the price continues to go higher and higher, people continue to feel the FOMO as Douglas A. Boneparth, CNBC Advisor Council tweeted, “Instead of drinking coffee and eating avocado toast every day, I should have been buying bitcoin.”

This can especially be seen in the way the market moved in the last few hours.

Bitcoin’s price BTC -3.41% Bitcoin / USD BTCUSD $ 31,558.08
-$1,076.13 -3.41%
Volume 82.36 b Change -$1,076.13 Open $31,558.08 Circulating 18.59 m Market Cap 586.69 b
2 h Why Does Bitcoin (BTC) Continue to Tear Up Without Ever Stopping? 3 h Ethereum Blockchain Becomes Absolutely Unusable Yet Again as Average Fees Hits ATH at $20 4 h Anthony Scaramucci’s SkyBridge Capital Launches Institutional-Grade Fund to Directly Invest in Bitcoin; Offers GBTC Swap Too
went to $34,825 on Sunday on Coinbase and today we went down to $27,648 and already we are above $31,000.

The same has actually been the case with the second-largest cryptocurrency Ethereum ETH 13.21% Ethereum / USD ETHUSD $ 1,036.04
$136.86 13.21%
Volume 59.1 b Change $136.86 Open $1,036.04 Circulating 114.12 m Market Cap 118.23 b
3 h Ethereum Blockchain Becomes Absolutely Unusable Yet Again as Average Fees Hits ATH at $20 4 h Too Afraid to Buy the Dips; Too Much FOMO to Resist Buying The All Time Highs 6 h ETH Rips to Jan 2018 High As The Market Rotates Bitcoin Profits into Ethereum
which took just over a day to go from $750 to $1,170 only to fall to $885 to now be back above $1,000.

Even YouTuber Marques Brownlee, best known for his technology-focused videos and his podcast, Waveform: The MKBHD Podcast, took to Twitter to share his interest in buying in Bitcoin and missing out with the price continuing to keep on going higher and higher.

image1

But still, with bitcoin adoption reaching only 2%, a huge population is on the sidelines and institutions have just started coming in.

Just last month, the day BTC broke its previous ATH $20k China’s mainstream financial outlet, Caijing ran a survey on Weibo asking people’s position on Bitcoin which revealed that 11k out of the 20.8k participants responded with “Such a scam, will never buy” while 3.1k said they might buy later.

This only goes on to show that this bull cycle is still in its early phase.

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Author: AnTy

ETH Rips to Jan 2018 High As The Market Rotates Bitcoin Profits into Ethereum

ETH Rips to Jan 2018 High As The Market Rotates Bitcoin Profits into Ethereum

After Bitcoin went ballistic over the course of the last three months, now it is time for Ethereum.

The second-largest digital took just one day to go from $750 to $1,170, a level last seen in January 2018. ETH is now just 38.75% away from its ATH at about $1,600 on Coinbase.

ETH ETH 6.26% Ethereum / USD ETHUSD $ 1,002.16
$62.74 6.26%
Volume 57.98 b Change $62.74 Open $1,002.16 Circulating 114.12 m Market Cap 114.36 b
5 h Ethereum Blockchain Becomes Absolutely Unusable Yet Again as Average Fees Hits ATH at $20 6 h Too Afraid to Buy the Dips; Too Much FOMO to Resist Buying The All Time Highs 8 h ETH Rips to Jan 2018 High As The Market Rotates Bitcoin Profits into Ethereum
and other altcoins have been lagging behind Bitcoin’s bull market BTC -7.43% Bitcoin / USD BTCUSD $ 30,943.32
-$2,299.09 -7.43%
Volume 80.55 b Change -$2,299.09 Open $30,943.32 Circulating 18.59 m Market Cap 575.26 b
4 h Why Does Bitcoin (BTC) Continue to Tear Up Without Ever Stopping? 5 h Ethereum Blockchain Becomes Absolutely Unusable Yet Again as Average Fees Hits ATH at $20 6 h Anthony Scaramucci’s SkyBridge Capital Launches Institutional-Grade Fund to Directly Invest in Bitcoin; Offers GBTC Swap Too
which finally caught up to the crypto leader.

“What we’re seeing is the standard moving of the crypto markets from Bitcoin to the Altcoin market led by Ether,” said Vijay Ayyar, head of business development with crypto exchange Luno in Singapore. “This rotation happens usually when Bitcoin has a large rally and investors rotate profits” into other digital coins, he said.

According to Ryan Watkins of Messari, if bitcoin is like gold, ETH is like money, “the most liquid asset in Ethereum’s on-chain economy that is demanded for a wide range of economic uses.”

These gains came while Bitcoin started consolidating, going to about $28,550 after making a new ATH at $35k. In the past 24-hours, Ether recorded more ‘real’ volume at $15 billion than Bitcoin’s $12.53 billion, as per Messari.

“A remarkable bullish BTC crash, making ETHBTC pop. All alts ripped,” noted trader and economist Alex Kruger.

“Looks like a trend change. Think it is. Good to internalize that with dominance at 70% a small outflow from bitcoin to ethereum and alts makes sysmic waves.”

Just last week, as we reported, Bitcoin dominance hit 73.6% last seen in July 2017. Bitcoin hasn’t reached these high levels of dominance since ICO bubbles. Following the rally in ETH and other major altcoins, today Bitcoin’s dominance dropped to 68%.

For now, the market has given back some of these crazy gains. After dropping to about $885, ETH is now back above $900 while the funding rates on derivatives go crazy.

“Grayscale’s ETHE subscriptions will reopen this week. Should see heavy inflows,” further noted Kruger.

Grayscale Ethereum Trust currently holds 2.94 million ETH. The world’s largest crypto asset manager hasn’t bought any ETH since the holidays started on Dec. 25.

ETHE is currently trading at a premium of over 103%.

“2021 might just be the year of ETH thanks to DeFi & PoS staking – the ETH staked on the ETH2 deposit contract has soared to $2B in value,” noted Jay Hao, CEO of crypto exchange OKEx.

While DeFi TVL rose to new highs of $17.87 billion thanks to a jump in the prices of cryptocurrencies, the ETH locked in the space has come down to under 7 million ETH.

Meanwhile, the ETH locked in the deposit contract for ETH 2.0 for staking has gone above 2.2 million ETH worth over $2 billion.

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Author: AnTy

BTC to Hit $100k-$200k in 2021 But a Pullback Could Come Before Going into Next Year

BTC to Hit $100k-$200k in 2021 But a Pullback Could Come Before Going into Next Year: Bitcoin Analyst

Charles Edwards of Capriole Investments says, “would be shocked if BTC doesn’t hit at least $50K” next year.

Yesterday, Bitcoin hit another all-time high, a new norm for BTC, to celebrate Christmas. Currently, trading around $24,900, retail looks ready to take advantage of the holiday season and weekend to push the prices higher and make institutions go FOMO next week.

By the looks of all the things that are bullish, bitcoin looks primed to hit more new levels. As noted by Charles Edwards of Capriole Investments, “fresh all-time highs (ATH) usually lead to more ATHs.”

However, the good thing for anyone looking for some good pullback, Edwards sees one before we move into 2021.

Using old school Wyckoff’s theory, he sees the correction next week that could take us to $21,000.

“Some short-term metrics suggest a brief pull back may be due and if this occurs, would likely represent a great buying opportunity in the region of $19-21K. But don’t count on it,” wrote Edwards, who advanced the Hash Ribbons indicator for timing entry points in the Bitcoin market, in the newsletter.

This is because the $19-21K region has a lot of support. Furthermore, Bitcoin Production cost is also around $18.6K and growing.

Overall, there is a high probability of bullish continuation over the coming months, both in technicals and fundamental terms.

“It’s incredible how the institutional media narratives and fiat hyper inflation is all aligning with the highest returning period in the Bitcoin four year cycle, 2021.”

“Buckle up and get ready for an incredible year.”

Charles Edwards Capriole Investments

Talking about next year, Edwards points to the big opportunity that only occurs once every four years.

Going into 2021 with great confidence, “We expect to see Bitcoin in the region of $100K-200K in 2021, and would be shocked if it doesn’t hit at least $50K.”

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Author: AnTy

Publicly-Traded Canadian FinTech Company Invests 1.5% of its Assets into Bitcoin

Publicly-Traded Canadian FinTech Company Invests 1.5% of its Assets into Bitcoin

The $1.5 Million worth of corporate Bitcoin investments is just the beginning, MOGO plans to buy more BTC next year.

Canadian Fintech company MOGO is investing $1.5 million in Bitcoin. This investment represents the company’s 1.5% assets, as of the end of the third quarter of 2020. But the company is not done with its Bitcoin investment, it plans to do more of it with more of it in 2021. Greg Feller, President, and CFO of Mogo said,

“We plan to initially allocate a modest portion of our capital toward bitcoin investments and will consider additional investments in bitcoin as we monetize some of our existing $17 million portfolios which we expect to begin doing in 2021.”

The company which is publicly traded on the NASDAQ and TSX believe it is “well-positioned to capitalize on the fast-growing demand for bitcoin.”

This isn’t the first time that Mogo has ventured into the cryptocurrency market. Back in 2018, it launched MogoCrypto to enable the buying and selling of Bitcoin in Canada. Recently, it also announced its bitcoin rewards program, an opportunity to earn BTC by engaging with Mogo’s products.

Earlier this month, the company reported a 135% month-over-month increase in the value of Bitcoin traded on its platform from Oct. to Nov. 2020. Feller said,

“We are strong believers in bitcoin as an asset class and believe this investment is consistent with our goal to make bitcoin investing available to all Canadians. In addition, we believe bitcoin represents an attractive investment for our shareholders with significant long-term potential as its adoption continues to grow globally.”

Mogo is just another addition to the long line of companies that have been making corporate investments in the world’s largest cryptocurrency.

MicroStrategy, Square, Ruffer Investment, and many others have jumped on the Bitcoin bandwagon along with the big names like Guggenheim, Paul Tudor Jones, Stanley Druckenmiller, Ben Miller becoming Bitcoiners.

“Most investment banks and private banks will announce crypto offerings,” and “several large public companies will issue BTC-related capital structure instruments,” predicts Su Zhu, CEO of Three Arrows Capital for 2021. He also sees several central banks announcing “substantial stakes in BTC.”

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Author: AnTy

Bitcoin Bears Still in Control While Market Consolidates into the Crypto King

Bitcoin Bears Still in Control While Market Consolidates into the Crypto King

Bitcoin dominance explodes to yearly highs and surpassed 70% amidst the altcoin carnage.

The week started on a red note and continuing this trend, the markets experienced another sell-off late on Wednesday or early Thursday. Bitcoin, however, came out relatively unscathed out of the crypto carnage.

The largest cryptocurrency in the world has taken to ranging for a week now. Amidst this, yesterday we went to the $22,650 level but even a bigger drop was seen on Monday when BTC fell to the $22k level.

As the day progresses, we have already made it back to $23,000, barely in the red while managing $6.22 billion in ‘real’ volume. But it is to be seen if we will continue upwards or if we finally have the pullback to about $20k that the market has long been expecting. Crypto trading platform Hxro Labs noted,

“Ranging continues for Bitcoin this evening as we wrap up the year and head into the holidays. Sell volume is leading since the 21st so for now, on the hourly at least… The bears are in control. Still no break in HTF market structure.”

These losses have been the result of Ripple being sued by the SEC for the unregistered sale of XRP. Things are not looking good for the digital asset which has long been under the fear of XRP being deemed a security. All of this Ripple fiasco pushed the entire digital asset market into the sea of red.

Bitcoin’s limited losses amidst the double-digit losses in altcoins resulted in an “extreme rise” in bitcoin’s dominance in the crypto world — at its highest level since the start of the year.

From 62 in mid-November, Bitcoin Dominance has surpassed 70, last seen in early January.

“What this translates to is a consolidation of the industry back into the leader,” wrote analyst Mati Greenspan in his daily newsletter Quantum Economics. “At the moment, Bitcoin is consolidating gains, while many of the alts are not.”

This is why the price of Ethereum went down to $550, a decline of 11.7% in a single day.

Interestingly, before the losses, the amount of Ethereum changing hands continued its activity. The addresses with 1-100 ETH actually have been holding their lowest collective amounts this month. Crypto data provider Santiment noted earlier this week,

“However, smaller addresses are growing encouragingly, and whales with at least 100K ($61.6M) staying patient.”

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Author: AnTy

Institutions Now Own 5% of Bitcoin Supply; $335 Million Flowed into Crypto Funds Last Week

Institutions Now Own 5% of Bitcoin Supply; $335 Million Flowed into Crypto Funds Last Week

Institutions continue to rush into BTC; this month, they put $792.1 million into Bitcoin and $207.3 million in Ethereum.

Total inflows into cryptocurrency funds have increased by 660% from last year to reach $5.57 billion in 2020, according to the latest data from asset manager CoinShares.

“This massive increase has likely been influenced by improving investor outlook for the digital asset class,” especially for Bitcoin, which is being seen as a hedge against inflation and as an alternative to the depreciating dollar.

Bitcoin hit another all-time high around $24,300 on Sunday, only to struggle around $22,500 this week after falling to $22,100. Today, Ether dropped under $600.

“The current jump will certainly attract new retail money, but we are also already seeing adoption by more institutions. I think the question is whether institutions can afford not to participate, and for how long.”

Julius de Kempenaer Senior Technical Analyst at StockCharts

According to him, there are a few big players in the crypto space, and it is “mostly crowded with retail-related traders and investors.”

Last week, in terms of weekly flows, crypto investment products saw investment totaled at $335 million, with Bitcoin flows accounting for just over $313.8 million and Ethereum $7.6 million.

As for this year, so far, investors have pumped $15.6 billion into Bitcoin funds and products, while Ethereum saw $2.5 billion in inflows.

Institutions actually hold about 5% of Bitcoin’s current supply, with Grayscale being the largest institutional bitcoin holder by the market value of their position, noted Tradeblock.

The world’s largest crypto fund, Grayscale, had $250 million inflows in the latest week, which raised its AUM to $15.3 billion. Grayscale has amassed inflows of nearly $5 billion this year so far, the CoinShares report said.

This past week, a surge of new institutional buyers into bitcoin was seen as One River, and Ruffer Investments revealed their large stakes in bitcoin.

One River holds approximately $600 million in bitcoin, executed through Coinbase’s OTC desk, and plans to increase its stake in bitcoin and ether to $1bn in Q1 2021. Ruffer also revealed that it holds more than $750 million in bitcoin — 2% of the fund’s AUM.

Additionally, Michael Saylor’s MicroStrategy completed its $650 million notes offering last week. On Monday, they announced that they bought more BTC with its proceeds, which is “the most continuous large block buying by institutional investors ever.”

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Author: AnTy

JPMorgan: Flows into Grayscale “Too Big,” GBTC is the Guide to Bitcoin’s Next Move

JPMorgan: Flows into Grayscale “Too Big,” GBTC is the Guide to Bitcoin’s Next Move

For now, GBTC is oversubscribed, and the premium has climbed to nearly 36%, last seen in February this year.

In its last Flows and Liquidity report for the year, JPMorgan Chase noted, “alternative currencies” like Bitcoin and gold have been the main beneficiaries of the pandemic.

Although compared to a $13.1 trillion increase in the value of total bonds and $11 trillion in equities, Bitcoin’s gains have been a paltry $0.3 trillion; it has been enough to push the price of the digital asset past the all-time high.

“There is little doubt that momentum traders, such as CTAs and quantitative crypto funds, amplified this week’s surge,” the strategists led by Nikolaos Panigirtzoglou wrote in a note Friday.

This made the bank strategist question, “how much of vulnerability do these momentum traders pose for bitcoin at the moment.”

In the short-term, the bank said it is “difficult not to characterize bitcoin as overbought at the moment.” Looking back, the last time momentum traders were so long bitcoin was in June 2019, it said.

The strategist went on to say that the odds of a correction would increase if the flows into the digital asset slow down significantly.

They noted that inflows into the largest digital asset fund, Grayscale Bitcoin Trust, are currently running at about $1 billion per month. GBTC’s assets under management have climbed above a record $13 billion this year, up from $2 billion at the start of December last year.

The flows into GBTC “are too big to allow any position unwinding by momentum traders to create sustained negative price dynamics,” said the strategists adding a major slowdown in those flows would increase the risk of a correction akin to the one in the second half of 2019.

For now, GBTC remains oversubscribed with a queue to get in. With investing in it taking weeks now, people are unable to get into GBTC right away.

This heightened demand has the premium on GBTC surging to nearly 36%, last seen in February this year.

Furthermore, looking at CME bitcoin futures, the report notes the open interest on them has increased by an astonishing 45% since last Friday to reach a record high of $1.4 billion.

As such, “it is difficult to not become concerned about a buildup of speculative long futures positions in bitcoin,” noted JPMorgan only to add “any previous attempts to call for mean reversion in these two indicators proved futile.”

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Author: AnTy

Twitch Director Moves “25% into Bitcoin;” Calling it a “Rare Opportunity”

The latest individual to jump into Bitcoin is Shaan Puri, the Senior Director of Product, Mobile Gaming & Emerging Markets at popular live streaming service Twitch, an Amazon subsidiary.

“I have moved 25% into Bitcoin,” Tweeted Puri on Thursday. He did not share just how much BTC this 25% got him but said, “To everyone saying you’re at 90%..the denominator matters.”

Sharing an insight into his decision to invest in Bitcoin, Puri called this a “rare opportunity,” and much like everyone in the crypto market, he thinks this bull run is different from the last one when BTC hit an all-time high at $20,000.

“I think it’s a rare opportunity to front-run a wave of institutional capital that will come into BTC in the next 2 years. And I think people think this time it hits $20k is “just like last time,” but it’s not for many reasons!” Puri said.

Puri is just one of many people that have become a Bitcoiner in 2020 as the price of the largest digital asset rallies more than 155% YTD.

Currently, trading around $18,500, Bitcoin is in a choppy market after surging to a new all-time high, right at the start of the month.

Wall Street legends Stanley Druckenmiller, Paul Tudor Jones, and Bill Miller have been endorsing Bitcoin this year while the likes of BlackRock’s Rick Rieder and Larry Fink, and Ray Dalio are talking about the huge interest in the cryptocurrency and its similarities to gold.

Yesterday, Puri also tweeted about the 169-year old institution MassMutual buying $100M of bitcoin, adding, “The Dinosaurs are coming.”

Before sharing his bitcoin investment with the public, Puri had also noted, “Bitcoin is the only asset where you can go irresponsibly long – and then everyone tells you it’s not enough. And they’re probably right.”

Earlier this year, Twitch also began offering discounts to users who paid with crypto on the platform.

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Author: AnTy