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Alert: The Last Chance to Buy Cheap Bitcoin: BTC to the Moon!

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It is an amazing time to be getting into bitcoin right now. We have seen this massive retracement, a lot of support and a decent amount of volume at the current level of bitcoin. There are a lot of things going on in the background that makes us incredibly bullish about bitcoin.

Chinese bitcoin billionaire Zhao Dong says “buy bitcoin now, when no one really cares”.

When the price of bitcoin is at extreme highs, most people are paying attention. Now that it’s gone down, there is fear, depression, and anger. This is the time to think counterintuitively to the crowd and there are a lot of people who are doing that right now.

Zhao goes on to say “I don’t persuade people to buy bitcoin because it seems easy to make quick money but in fact, it is not”. He says “now is the bear market and this is the time I start to talk people into buying bitcoin”.

 

Fairfax County invests in Crypto Fund

Recently we saw two public pensions from Fairfax County Virginia, police officer retirement system and employee retirement system investing in Morgan Creek’s $40 million crypto fund. That important because when pension funds start investing, it sends a signal to other pension funds to follow them.

Institutional investors are already here and they are only going to rise now. Michael Novogratz has come out saying that the markets won’t go to $20 trillion right away. He said what is going to happen is that one of these pension funds who is a market leader is going to say “We’ve got custody, Goldman Sachs is involved, Bloomberg has an index and I can track my performance against them”. And then the others are going to buy. This is the same type FOMO that we saw in retail and it will be demonstrated in institutional investors. Maybe, Mike Novogratz is absolutely right at this. The institutional investors will trickle in and then it is going to be a tsunami wave with trillions of dollars.

Barry Silbert came out and said that he is convinced of whatever money is in gold is not going to stay in gold. He said, “that get’s handed out to millennials, I am highly confident that a lot of that money will go into bitcoin”.

Maybe Barry is also right as bitcoin is gold for the new generations. Bitcoin is the new technology and the new investment vehicle. According to the numbers we are seeing, we see a massive amount of interest coming from the younger age groups primarily with the older age groups being suspicious of things that they don’t quite understand.

 

Goldman Sachs OTC Desk:

Goldman Sach’s bitcoin OTC desk is one of the largest facilitators of OTC trades in the world is seeming to provide evidence that ultra high net worth individuals, hedge funds and other financial entities are indeed trafficking in bitcoin. In the background, they are buying, selling, holding in cold storage and doing wallet to wallet transactions. Bitcoin is increasingly being seen as a vehicle of wealth, a store of value and a time of global uncertainty.

According to sources at Goldman Sachs, they see particularly that the people who come to them trust Goldman Sachs. The fact that Goldman Sachs is making this available says a lot to all these different investors who are coming in. They saw Goldman Sachs investing in Circle and other bitcoin-related firms and the investors are increasingly becoming comfortable with digital currencies. The narrative that bitcoin is digital gold has begun to take hold in the minds of investors. This has led to increased volumes we have been seeing in 2018 and throughout the beginning of 2019. If the global economy continues to soften, we can, of course, expect those volumes to continue to increase.

Another source at Goldman Sachs said that the OTC volumes have increased across the board, global economic uncertainty and a flight to safety now includes bitcoin. This news is from the people inside the OTC desk who are dealing with these high net worth individuals. The source goes on to say that this is why we are seeing an increase in volume year by year. Goldman Sachs is a major player here, they have got the first mover priveledges at Circle because of their equity stake in the firm. So they are more effective from a pricing standpoint than other large bank facilitators. The clients of Goldman Sachs know this and this increases the confidence in the firm as a safe place to funnel investment dollars into digital assets like bitcoin.

 

Bitcoin ETF:

SEC commissioner Robert J. Jackson recently did an interview with Congressional Quarterly and expressed views that an SEC-approved bitcoin ETF is inevitable. Add into that, that we now have the SEC review of a bitcoin ETF rule change proposed by the New York Stock Exchange and the Bitwise Asset Management. They are reviewing a rule change to the bitcoin ETF. An SEC approved bitcoin ETF is just a question of time now. When the bitcoin ETF launches, it is going to be a major source of liquidity and will bring even more new investors in.

We might see that time coming soon when regular individuals will not be able to own even one bitcoin. A lot of people are speculating that the same thing is going to happen to bitcoin when bitcoin ETF will launch as it happened to gold when the gold ETF was launched. There is a good chance that history could indeed repeat for digital gold.

gold-price-chart

gold-price-chart

Then, of course, there is a falling supply emission. The next halving for bitcoin is only a year away and a little more than a decade, the block reward for bitcoin will be below 1 BTC per block. It depicts how quickly bitcoin is going to become scarce.

 

What are your thoughts on the future of bitcoin? Tell us in the comments section below.

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Alert: GotSatoshi Reveals the Real Identity of Satoshi Nakamoto?

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A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.Here is what they revelead.

The identity of Satoshi Nakamoto is one of the biggest secrets in the world, especially in the cryptocurrency industry. A lot of people have speculated the real identity of the bitcoin founder and some people such as Craig Wright has even self-proclaimed themselves to be Satoshi Nakamoto. A new website called GotSatoshi now claims to know the real identity of the founder bitcoin Satoshi Nakamoto.

 

Where in the world is Satoshi: The Countdown ends

The website ran a countdown and also posted on their official twitter account claiming to know the real identity of the founder of bitcoin.

 

The countdown which ended just a few minutes back (from the time of publication) revealed a video which is actually marketing a news website called PaiNews. It seems that it was just another joke or a method of fooling and attracting traffic to the website.

 

What are your thoughts on such lame jokes or methods of attracting traffic? Tell us in the comments section below.

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Kevin O’Leary from Shark Tank calls Bitcoin: Garbage and a Useless Currency

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During an interview with the CNBC, Kevin O'Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

During an interview with the CNBC, Kevin O’Leary from Shark Tank said that according to him Bitcoin is garbage and a useless currency.

 

Kevin O’Leary calls Bitcoin Worthless

Famous as the founder of Softkey, a startup that earns annual revenue of around $29 million and a host on the American business reality series Shark Tank, Kevin O’Leary is a celebrity amongst the business class in the United States of America.

 

During the interview published on 14th May 2019, Kevin expressed his thoughts over the king of cryptocurrencies bitcoin and called it a useless currency as the people who accept it just wants to hedge against the high volatility of the virtual currency. This comes in the midst of the current bitcoin surge as the virtual currency doubled its value in just a few days from below $4000 to more than $8000.

 

Kevin also explained why he has such negative views on bitcoin giving the instance of how once he tried using bitcoin for a real estate transaction in Switzerland. He said that it is not possible to get in and out of bitcoin while transacting in huge amounts.

 

He also gave an example stating that if one wants to buy real estate in Switzerland for $10 million. The seller wants a guarantee that the value comes back to him as currency at ten and the buyer has to hedge the risk of the cryptocurrency, hence it is not a real currency. Kevin said that the seller or the receiver would never want to take the risk of such high volatility and thus BTC is worthless.

 

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Amazon Owned Whole Foods, Other Big Retailers Start Accepting Bitcoin

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Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

Whole Foods, which is owned and operated by the e-commerce giant Amazon and other big retailers are now going to accept payments in bitcoin.

 

Whole Foods and Others accepting Bitcoin using Spedn:

A company called Flexa in collaboration with Gemini exchange which is owned by the Winklevoss Twins has managed to persuade a lot of big retailers including Nordstrom, Crate and Barrel & Whole Foods to configure the same scanners that they are already using for payments from other digital wallets like Apple Pay to work with their cryptocurrency payments app called Spedn.

 


Everything is handled on the backend of the application so that the cashier need not even have heard of bitcoin, let alone understand how to manage payment in cryptocurrency. The merchant has the choice in receiving immediately converted fiat or actually taking and holding the cryptocurrency.

 

The Spedn app lets consumers pay in bitcoin, bitcoin cash, ethereum and GUSD (Gemini Dollar), the Gemini backed stablecoin.

 

This new solution actually uses the existing systems and offers really only upsides for the companies as they don’t have to do any special training for their staff and there is no new hardware required and just a software upgrade.

 

It is worth noting that this is still in its early experimental stages for all the retailers which are cooperating with this scheme and things may of course change in the future. The thing to keep in mind here is that Bakkt is likely launching a massive payment processing service for cryptocurrency in the very near future as well and it could be a big competitor to what Gemini and Flexa are offering.

 

The company will also need to prove itself with consumers and get people to actually go out, download and use the Spedn app.

 

Can this be a game changer in retailer adoption of bitcoin and cryptocurrencies? Let us know about your thoughts in the comments section below.

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