Mediaboss Marketing

Alex Dovbnya

Bobby Lee, prominent figure in cryptocurrency industry, recently expressed optimism about Bitcoin's future in Bloomberg TV interview

Read U.TODAY on

Google News

Bobby Lee, a prominentfigure in the cryptocurrency sector, expressed optimism about the future of Bitcoin during a recent Bloomberg TV interview.

Lee sees the crypto market finally breaking through the clouds of a prolonged downturn after weathering a yearlong bear market that pulled Bitcoin's value to a low of $16,000.

The BTCC founder pointed out that the digital currency is now recovering and regaining momentum, telling Bloomberg, "It's been a long time. So, crypto has these four-year cycles...and now we've almost recovered a little bit. So, it's quite exciting."

Lee further argued that cryptocurrency should be considered a financial safe haven compared to traditional fiat money. He explained, "During the banking crisis, people started to realize that when their money is not in the bank, it's not always there necessarily because the money is being lent out to other businesses or the firms." In contrast, cryptocurrencies like Bitcoin provide the stability of self-custody, enabling individuals to manage their own financial resources and maintain full control over their assets.

He believes that organizations like the SEC are essential in combating illegal fundraising and is pleased to see progress in the U.S. after calling for increased regulation for over a decade: "I think it's about time. I've been asking for this for over a decade now, and finally we are seeing this in the U.S."

Lee also expressed enthusiasm about Hong Kong's embrace of cryptocurrency regulation, highlighting the global shift toward greater acceptance and oversight of digital currencies. "I'm also very excited about the regulatory embrace of crypto in Hong Kong," he remarked. As the crypto market finds its footing and regulatory frameworks advance, the future of Bitcoin and other cryptocurrencies appears to be on a steady upward trajectory.

See the article here:

Bitcoin Veteran Bobby Lee Optimistic About Bitcoin's Future, Calls for Increased Regulation - U.Today

Alex Dovbnya

Prominent cryptocurrency investor and Galaxy Digital founder Mike Novogratz has criticized Balaji Srinivasan's recent prediction

Read U.TODAY on

Google News

In a recent appearance on the Prof G Pod with Scott Galloway, Mike Novogratz, a well-known investor and founder of cryptocurrency-focused financial services firm Galaxy Digital, expressed his concerns about the potential consequences of Bitcoin reaching a $1 million valuation.

Specifically, he criticized a recent prediction by venture capitalist and former Coinbase CTO and anti-American propagandistBalaji Srinivasan, suggesting that such over-the-top callscould strain relationships between the crypto industry and U.S. government officials. "While the dollar is under attack elsewhere, it doesn't help. I've been very careful myself not to be dramatic," he noted.

Novogratz argued that Bitcoin serves as a report card for the stewardship of governments, reflecting their ability to manage populist spending and maintain stability. He noted that the initial creation of Bitcoin by Satoshi Nakamoto was driven by concerns over government populism and the subsequent erosion of stability and civil society.

Regarding the recent lawsuit against Binance by the CFTC, the crypto mogul stated that he does not believe the exchange is in significant trouble, and that most of the alleged violations occurred prior to 2021.

When asked about Sam Bankman-Fried, the controversial CEO of FTX, Novogratz opined that he believes Bankman-Fried could face jail time for his actions, though he did not elaborate on the reasons.

Novogratz also touched on the role of the SEC in regulating the crypto industry, suggesting that the agency may be overcorrecting due to past mistakes. He expressed hope that the U.S. judiciary system would be less politically influenced in its approach to crypto regulation.

As for restoring faith in the crypto industry, he emphasized the importance of patience and hard work. He highlighted the involvement of influential figures like Abbie Johnson, who see the potential of digital assets as a store of value within the global financial system.

See more here:

Mike Novogratz Doesn't Want Bitcoin (BTC) to Hit $1 Million. Here's Why - U.Today

The landlocked Himalayan country of Bhutan has been said to be secretly investing millions of dollars in Bitcoin (BTC)and other cryptocurrencies. The bankruptcies of lenders BlockFi and Celsius have made the companys investments public, which had previously been kept secret from the general public.

Based on court records, Bhutans $2.9 billion national investment arm, Druk Holding & Investments, was a client of insolvent crypto lenders BlockFi and Celsius, according to documents revealed in a Forbes report on April 15.

Druk Holding & Investments is responsible for managing a portfolio consisting of domestic assets; nevertheless, since at least 2022, Druk has also been cultivating a crypto portfolio in secret. It was accidentally disclosed in the aftermath of the crypto contagion that occurred last year, which resulted in the failure of a number of businesses, including FTX and Voyager.

Over the course of the three months covered by the Celsius filing, Druk withdrew over $65 million and deposited approximately $18 million in digital assets.

A complaint was handed over to Druk in Thimphu, Bhutans capital city and the residence of the countrys royal family, by attorneys for BlockFi, a company that declared bankruptcy in November, only a few days after FTX did so. BlockFi is making the accusation that the fund has failed to return a loan of $30 million that it received.

According to the claim, in February 2022, Druk agreed to borrow 30 million USD Coin, which is a stablecoin whose value is tied to that of the US dollar. However, according to BlockFis allegations, Druk failed and refused to return the loan in its entirety. This was the case even after the lender liquidated collateral of 1,888 Bitcoin, which had a value of $76.5 million at the time of the loan. This left an outstanding debt of $820,000.

Whats more, over 14,000 pages of user information, including names, addresses, and financial activities, were made public by Celsius in October. Between April and June of 2022, Druk Holding & Investments, together with an account titled Druk Project Fund, performed dozens of transactions, including deposits, withdrawals, and borrowing of Bitcoin, Ethereum, Tether, and a few other cryptocurrencies, as shown by the transaction logs.

Druk withdrew about $65 million and deposited approximately $18 million in digital assets during the three months covered by the Celsius filing.

If Druk decided to invest tens of millions of dollars in cryptocurrency, it would be an unusual move for the holding firm, which is supposed to encourage domestic business projects. It would seem to be the first national wealth fund to acquire cryptocurrency if it is actually what it claims to be direct.

Interestingly, this is not the first cryptocurrency and Bhutan have been mentioned in the same sentence together, back in 2021, Finbold reported that Ripple inked a collaboration with Bhutans central bank, the Royal Monetary Authority (RMA). The deal aimed to conduct a pilot project to facilitate cross-border and wholesale payment through a CBDC solution.

The rest is here:

Kingdom of Bhutan secretly invests millions in Bitcoin - Finbold - Finance in Bold

Charlie Morris, who is the Founder and CIO of ByteTree Asset Management, believes that gold and Bitcoin are set to experience significant and lasting gains due to a weakening dollar and increasing sovereign risk.

Per a report by Kitco News published on April 17, Morris believes the econometrics are clear-cut, suggesting that investors in gold and Bitcoin are unlikely to face bad days. In an interview with Kitco News reporter Ernest Hoffman on April 12, Morris expressed his conviction that the market is witnessing the beginning of a strong bull market for precious metals, primarily due to the dollar losing strength.

Morris highlighted the unprecedented rise in gold prices without Wall Streets backing, which has not been seen in the past 25 years. He urged investors to be cautious of escalating sovereign risk, particularly when the U.S. 10-year bond yield exceeds four percent.

Morris recounted events from last October, when the U.S. 10-year bond yield rose above four percent, leading to the resignation of the UK Prime Minister and the Chancellor of the Exchequer. The attempt to implement pro-growth economic policies did not prove fruitful. More recently, five banks failed, and Credit Suisse, a leading global bank, collapsed. He noted that the U.S. governments response to the Signature Bank and Silicon Valley Bank implosion only increased risk.

With the growing sovereign risk worldwide, Morris expects gold prices to surge. He considers the recent inflows of Wall Street investment into gold to be significant, as central banks and Wall Street investors are now buying gold simultaneously, creating the ideal conditions for a bull market.

In addition to gold, Morris is optimistic about Bitcoin, attributing sustained inflation and poor returns on other assets as key drivers. He is nearly certain that Bitcoin has reached its low point for this cycle, estimating a price of around $40,000 over the next year. However, he believes that the six-digit, hundred-thousand-plus figures will only be attainable in the next cycle after the halving event.

Morris asserts that much of the negativity surrounding Bitcoin in the past 18 months was unfounded, as it was being blamed for failures in other areas of the crypto sphere. He emphasized the resilience and robustness of the asset.

In conclusion, Morris envisions gold and Bitcoin outperforming in the medium term and complementing each other as investments. He believes that now is an excellent time to own inflation-protection assets while they remain underpriced.

Read the rest here:

Bitcoin and Gold's Bright Future, According to ByteTree Asset ... - CryptoGlobe

Monday April 17, 2023 07:48

(Kitco News) - April Bitcoin futures prices are lower in early U.S. trading Monday, after hitting a new contract high Sunday. A price uptrend on the daily bar chart remains firmly in place. There are no strong, early chart clues to suggest a market top is close at hand. The bulls have the solid overall near-term technical advantage to suggest still more upside in the near term. Stay tuned!

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.

See original here:

Bitcoin Apr. 17 daily chart alert - Price uptrend alive and well - Kitco NEWS