Chinese Company Meitu Buys Another $10M Bitcoin, Now Owns $100 Million in BTC and Ether

Chinese Company Meitu Buys Another $10M Bitcoin, Now Owns $100 Million in BTC and Ether

Publicly-traded Chinese company Meitu announced the purchase of an additional 175.6 Bitcoin at approximately $10 million, as per the filing published on April 8.

With this latest purchase, the company has completed its $100 million worth of crypto, Bitcoin, and Ether combined, accumulating ever since adopting a “cryptocurrency investment plan” in March this year.

The Hong Kong-based app developer now has total holdings of 940 BTC and 31,000 ETH. Both the investments have been roughly the same in USD terms.

Coinbase disclosed last month that its institutional business arm facilitated Meitu’s last crypto purchases. For the latest $10 million BTC addition, Meitu selected OSL Digital securities as of its trade execution and custody partner. The biggest US crypto exchange was also the one that provided its services to Tesla, MicroStrategy, and Ruffer Investments.

Meitu’s crypto accumulation has been part of a broader trend where publicly traded companies are making crypto part of their treasury as a replacement to the debasing fiat currencies. With Ether, Meitu plans to enter into the blockchain industry.

Read Original/a>
Author: AnTy

Legendary Investor Becomes A Bitcoiner, From ‘Why We Need This Thing’ To Betting Big On BTC

Billionaire investor Stanley Druckenmiller said on CNBC on Monday that he owns Bitcoin, becoming the latest high-profile to get in on the leading digital currency. The legendary investor said,

“I’m a bit of a dinosaur, but I have warmed up to the fact that Bitcoin could be an asset class that has a lot of attraction as a store of value.”

Although compared to bitcoin, his gold position is “many, many more times” larger, the hedge fund manager predicted his allocation in BTC would outperform.

“Frankly, if the gold bet works the bitcoin bet will probably work better because it’s thinner, more illiquid and has a lot more beta to it,” said Druckenmiller adding Bitcoin “has a lot of attraction as a store of value to both millennials and the new West Coast money and, as you know, they have a lot of it.”

Correlation between Bitcoin and gold started trending upwards again in recent weeks, however, it is still far from the high seen in August.

Last year, Druckenmiller called bitcoin “a solution in search of a problem” adding he doesn’t “understand why we need this thing.” Now, he says that having a 13-year history, it picks up more and more brand value each passing day.

“The smartest macro investors now own BTC and they will trigger a procession of macro investors to do the same,” said a partner of Crypto hedge fund The Spartan Group.

With this, Druckenmiller has joined the likes of Michael Saylor, Bill Miller, Jack Dorsey, and Paul Tudor Jones among others to allocate a portion of his vast wealth in Bitcoin. Raoul Pal, co-founder of Real Vision said,

“The significance of the world’s greatest and most respected money manager – Stan Druckenmiller – saying just now that he is long bitcoin can not be overstated.

That has removed every obstacle for any hedge fund or endowment to invest.”

Bitcoin naysayers have begun to change their tune, from JPMorgan, PayPal, to Nouriel Roubini although the latter one took to Twitter again to blast the digital currency which is beating the traditional assets by a wide margin, up 115% YTD.

Last week, Druckenmiller said that he is shorting the US Dollar and this time added that he is anticipating a 3-to-4 year decline in it.

Read Original/a>
Author: AnTy

NYSE, Bakkt, & eBay Under One Roof? ICE Makes a Takeover Offer to eBay

The Wall Street Journal has just reported that a company that owns the NY Stock Exchange, just made an offer of $30 billion dollars for eBay, the company is the well known Intercontinental Exchange and located in Atlanta.

Intercontinental “may see an opening to apply its technological expertise connecting buyers and sellers to eBay’s core e-commerce site covering everything from electronics to collectibles,” reported WSJ.

ICE is owned by Jeffery Sprecher, husband of former Bakkt CEO Kelly Loeffler who had to quit her position after being appointed the new US Senator from Georgia.

This isn’t the first time ICE has approached eBay, Intercontinental has tried before to offer eBay a takeover bid, and there have been no meetings scheduled to discuss the bid between the two companies. eBay shares, however, jumped 10% on the news while ICE’s were down 3%.

Intercontinental (ICE) is also the company behind crypto exchange Bakkt that enables institutions to buy, sell, store, and spend the world’s largest digital asset by market cap Bitcoin.

eBay also sells virtual currency and mining contracts for Bitcoin. Users can buy items on the platform by using cryptocurrency as well but through third-party platforms.

Earlier last year, there were also rumors that the online auction site might start accepting Bitcoin and altcoins soon after photographs of marketing material from the Consensus conference in New York were revealed that said “Virtual Currency. It’s happening on eBay,”

However, eBay has been once again partnering with the payments platform that accepts cryptos on behalf of merchants and pays them in fiat.

Back in 2017 during the peak of Bitcoin price, senior vice president eBay Americas, Scott Cutler said in an interview that the company was “seriously considering” accepting the digital currency only to add that, “we’re not quite there yet.”

Now, this latest talk of ICE taking over eBay has the crypto community excited and hopeful yet again.

“WHOA. The owner of the New York Stock Exchange is thinking about taking over eBay at a valuation of more than $30 billion. This is the same company that realized the importance of Bitcoin enough to start Bakkt,” wrote Anthony Pompliano co-founder of Morgan Creek Capital. “Would be incredible to combine NYSE, Bakkt, & eBay under one roof.”

Read Original/a>
Author: AnTy

Poland Purchased 100 Tons of Gold – Would Bitcoin Be A Better Purchase?

  • Poland now owns approximately $121.9 billion in gold.
  • The Bank of England previously refused to return gold to Venezuela, citing insurance-related concerns.

When it comes to making smart investments, there are many debates over what that actually means. Poland, for example, seems to be preserving their funds with an investment in gold, purchasing 100 tons of the precious metal from the Bank of England. In doing so, the country has become the 22nd biggest holder of gold in the world, but a recent article from BeInCrypto suggests that the investment may be better off in Bitcoin.

Adam Glapinski, the Central Bank Governor, recently told reporters with BNN Bloomberg that their new reserves show their “strength of the country.” The purchase comes around the same time that the idea of a downturn in the economy is being discussed, which has frequently been a point that the crypto community has used to support their own potential, versus the use of traditional assets.

Poland purchased 126 tons of gold in 2018, and the recent purchase puts the country at 228.6 tons in total. The total value is approximately $121.9 billion, considering they acquired the most gold in the Eastern European Union region.

In November last year, Venezuela pushed for the Bank of England to refund 14 tons of gold. However, as BeInCrypto points out,

“even if a country could repatriate its gold, what guarantee is there if the holding party refuses to return it?”

In the situation between Venezuela and the Bank of England, the latter stated that there were insurance-related matters that prevented the return, and the bank wanted to know what would be done with the gold, in the event it was returned.

As the economy and political landscape continue to change, cryptocurrency is becoming even more important as they become a safe asset for consumers. The movement made by Poland isn’t exactly keeping up with the progress of the economy, but there are other countries that has taken a less progressive path as well.

In Germany, a bank started implementing negative interest rates, specifically targeting consumers that make small deposits. A negative interest rate would charge customers for being the owner of a bank account, which most negatively impacts consumers that don’t have this kind of money to spare. Negative interest rates were originally introduced to the European Central Bank five years ago.

With the economic turmoil in Venezuela, there are many people who have been impacted, leaving consumers unable to even provide for the basic needs of their family. At this time, cryptocurrencies provide an opportunity for individuals to possess their own funds in a provable way. With the portability and practicality that cryptocurrency provides, it is clear that it is an easier asset to deal with.

Read Original/a>
Author: Krystle M

Mike Novogratz Has a Theory About How Institutions Enter the Bitcoin Ecosystem

Mike Novogratz wants Bitcoin to be successful. This is no secret, as he owns Galaxy Digital, a company that offers crypto investments to wealthy people. Now he has a theory on how to get more institutions investing in the asset. He believes that targetting to wealthiest of all Americans, the baby boomers are a good idea.

According to the CEO of Galaxy Digital, elderly people tend to shy away from assets that are considered more speculative, which is why they are not so eager to invest in Bitcoin as Millenials, for instance. Now, he wants to change that with his new products, two crypto funds that cater to these specific investors.

A new piece of research made by CoinRadar shows that over 70% of all people with 55 years or more don’t really own Bitcoin or want to do it. As they hold most of the money and the current generation is at least 12 times poorer than them, they are the most interesting investors for companies such as Galaxy Digital.

Novogratz understands that a lot of billionaires are into crypto right now and believes that more Wall Street investors will move into this new market, but to him, the main point is to get baby boomers more interested in Bitcoin.

It is important to understand their realities and how they can be interested in the asset. This way, a whole new way of investments will be open to the company and these two new funds that were created are just the first step for that.

Read Original/a>
Author: Gabriel Machado

Billionaire and Multi-Sports Team Owner Ted Leonsis Associates Bitcoin with Shady Gambling

  • Ted Leonsis owns several sports teams and was the president of America Online.
  • One of the teams Leonsis owns, the Capitals, was worth $725 million at the end of last year.

In the United States alone, $10 billion has been spent on gambling since the decision of the Supreme Court just over a year ago, according to the Legal Sports Report. Now, billionaire Ted Leonsis has expressed interest in getting a piece of that action during the off-season of sports.

Mr. Leonsis is known for many things – his billions of dollars of wealth, his ownership of the Washington Mystics and the Washington Capitals, and his presidency of America Online years ago. While on stage in Detroit at the Freemason temple, he spoke about the plans to turn his “sports empire” into one of gambling, according to a recent article with Forbes.

Last year, the United States Supreme Court decided to establish laws for legal gambling in the US, striking down a previous ban.

At the time, Leonsis stated,

“Let’s take this shadow economy which is going to explode even more with bitcoin and the dark Web and bring it into the light. And if we can do that it will generate more jobs, it will generate tax revenues.”

Leonsis expressed interest in making the gambling world less negative and shady by using a place that is commonly associated with family fun.

Leonsis decided to establish a sports business in June 2010, which now owns the Mystics and the Capitals. By the end of last year, the latter was worth about $725 million. Leonsis pointed out that the sports world is generally accustomed to the downtime when the stadiums and other points of revenue don’t bring in funds. However, he wants to change that by adapting to the decision of the Supreme Court, opening the facilities to gambling, much like casinos.

He commented,

“By opening up a world-class sportsbook, the building will come alive during the day. We want to be able to take advantage of the investment we have in real estate.”

While speaking with Forbes, Leonsis expressed that he wanted the arrangements to look like Wall Street, adding that it “should be like an Apple genius bar.” To allow these types of venues, he signed a deal with William Hill, a UK bookmaker, last month.

Latest Bitcoin Price News and Crypto Market Updates

Read Original/a>
Author: Krystle M

Coincheck Owner Monex Will Pay Dividends In Bitcoin For the First Time

The Monex Group, a Japanse financial company which owns the crypto exchange Coincheck, have taken another step towards the crypto world. Now, the company is set to pay out the dividends of its profit to the shareholders with Bitcoin.

This will be an additional benefit, not the whole payment. The original payment will still be made using fiat currency, but investors who have any shares after September 30, 2019, will be able to take benefits that will be paid in Bitcoin. Each shareholder who has a Coincheck account will get around $4.65 USD worth of BTC.

With this program, all investors who have accounts will get their money, independently, based on how many shares they have. If they open the accounts until the dividends are paid, they will receive money. Without doing this, however, they will lose out on this opportunity.

However, the company has not explained whether it will continue to pay its investors with crypto next year or not, so this may be a one-time-only benefit.

The company has also announced that it would introduce something called Monex Points. This system would be used to grant shareholders with additional benefits when using the brokerage accounts of the company. One point will be the equivalent to a single yen.

In related news, the company also announced some staff changes. For instance, Yuya Asamura, currently working as the manager for strategic planning, has been promoted to the position of executive director. Naoyuki Kainuma will also become the new CEO of the Monex Group.

Read Original/a>
Author: Gabriel Machado

Huobi Will Open New Local Fiat-to-Crypto Exchange In Argentina

The Huobi Group, which owns one of the most important crypto exchanges in Asia, is set to expand its business. Now, the company wants to launch another exchange in Argentina in order to create a fiat-to-crypto gateway in the Latin American country.

According to the company’s press release, Huobi Argentina will use Huobi Cloud, a service that will let the user trade assets with other Huobi platforms using an over the counter (OTC) desk. Another important selling point is that users can use the local fiat currency to buy tokens.

At the moment, they can already do it, but only via the OTC desk. After the launch, they will be able to do it with credit cards, wire transfers and even using some local payment options.

The CEO of Huobi Argentina, Carlos Banfi, affirmed that this could also lead global investment to look at Argentina. He considers the country to be one of the most promising markets for the blockchain and affirmed that it is a national consensus that people need to “break free” from the Argentinian Peso (ARS), so cryptos are bound to grow in the country soon.

Huobi is actually pretty confident about this expansion. Recently, the company also promised to launch an exchange in Thailand as well. The announcement of the platform in Argentina comes only a few months after the CEO of Binance, one of the main competitors of Huobi, has shown some interest in launching its platform in the country.

In this market, the companies that expand first will have several advantages when compared to the others, so it is a good move to do this.

Read Original/a>
Author: Craig A

Bitcoin Hater Peter Schiff’s Goal is to “HODL” a Whole BTC with “Lambo” Dreams

Bitcoin Hater Peter Schiff’s Goal is to “HODL” a Whole BTC with “Lambo” Dreams
  • So, now we all know Bitcoin hater Peter Schiff owns Bitcoin.
  • Is he a hypocrite?
  • Schiff says No, he just doesn’t say no to free stuff.

Who wants to Say No to Free BTC? Not Peter Schiff!

Schiff, in his latest podcast, tried to “set the record straight” that he is in no way pro-Bitcoin, he just had been given some free BTC.

But did he want to buy Bitcoin ten years back when one BTC was worth a hundred dollar?

“Of course,” said Schiff emphasizing, “I would be an idiot not to wish I bought Bitcoin before the bubble really formed when I first heard about it.”

He could have made a lot of money buying Bitcoin under $100, “so, why wouldn’t I regret that. Clearly I’d be richer had I done that, but that doesn’t change how I feel about it now.” Even his fellow Bitcoin haters Warren Buffett or Nouriel Roubini wishes they had bought it at that time, said Schiff.

It’s two different things to buy it when few people know about it and when it’s a huge gigantic bubble, he says.

In his Defense, he doesn’t know how to “Reject” the Gift of BTC that keeps on coming. Schiff says he didn’t buy any bitcoin rather was given to him by Eric Voorhees, CEO of ShapeShift, with whom he debated at an event.

The gold proponent says he has been given Bitcoin gifts and he doesn’t know “how to reject it” and why would he:

“if somebody wants to send me some free Bitcoin I’ll take it I mean I can turn right around and sell it.. I mean I know that there’s a market for it now.”

It’s just people who are giving him Bitcoin are “idiots” or just generous as he doesn’t need money.

Well, he isn’t no Bitcoiner, but believes “it’s kind of cool that you can send it very quickly.” This is “one of the good features” of Bitcoin but it has no market value, said Schiff, because it’s based on perception and demand.

But keep on sending so he could finally have a “whole BTC”

He says believing that he supports Bitcoin because he owns “free” BTC is the same nonsense as “golden asteroid.”

These stories, according to him are spun by Bitcoin supporters because it is marketed as a disrupter of the gold market.

So, Schiff, in his defense says, if Bitcoin community want to send him Bitcoin, “keep on sending them” because he wants to “get up to a whole Bitcoin.” Once he does, he’ll figure out if he wants to HODL, which “would be the right thing to do.” And once it goes to million he’ll “buy a Lambo.”

Read Original/a>
Author: AnTy

Facebook’s Aging Demographics Could Prove to be a Challenge For Company’s New Crypto Offering

Facebook’s Aging Demographics Could Prove to be a Challenge For Company’s New Crypto Offering

Facebook currently owns the largest social media platform in the world. This is pretty much enough in order to have a successful launch for the long-awaited Facebook Coin, right? Well, not so much, according to a new piece of research made by Diar.

The new currency created by Facebook is set to disrupt the global banking networks and to earn a lot of money for Facebook while doing so. By removing all the financial barriers and making some of the products advertised on the company cheaper, the idea is to take over the world, basically.

However, the new report from Diar poses an interesting question which should be taken into account in order to discover if Facebook has big chances or not. The fact is that the users of Facebook are continuously older as time passes. New generations are not as prone as the old ones to keep using the social media network.

This demographic could prove to be the largest challenge for Facebook so far, especially as the company is struggling to widen its reach. The main problem happens because older people are not so prone to know about cryptocurrencies and to be willing to use them as young ones.

According to the report, the most probable strategy that Facebook will use in its expansion is to target countries which do not have a very strong financial structure. This way, they will offer their token to people as an alternative in order to make payments online.

It is important to notice, too, that the so-called Facebook Coin (also known as Project Libra), will possibly be used on WhatsApp and Instagram, too, which changes the whole scenario, especially when you consider that the userbase of Instagram is considerably younger than Facebook’s.

Facebook Is Already Starting Partnerships To Launch New Token

Another important fact that should be taken into account is that Facebook is already moving major partnerships forward. The company is said to be currently dealing with the Western Union, which will possibly help Facebook in the future. Other rumors, however, affirm that the company is only consulting as part of its research to provide services for the unbanked around the world.

Facebook also met with representants of both Visa and Mastercard, the two largest payment processors in the world right now. Even the venture capitalist investor Tim Draper was consulted by the company. He is known as a major Bitcoin bull and a crypto enthusiast.

Last week, it was also reported that the giant of social media was talking with members from both Coinbase and Gemini, two prominent crypto exchanges in the U. S. market. According to anonymous sources cited by the Financial Times, Facebook has negotiated with the companies in order to ensure that its stablecoin has a peg to the value of the USD.

Read Original/a>
Author: Gabriel M