Posts with category - Bitcoin

Bloomberg-analist noemt Bitcoin de ’nieuwe versie‘ van goud

  • Bloomberg senior analist Mike McGlone noemde bitcoin een essentieel onderdeel van elke beleggingsportefeuille.
  • McGlone vergeleek bitcoin met een nieuwe versie van goud, waarbij de markt de voorkeur geeft aan digitalisering.

Bloomberg Intelligence’s senior grondstoffenstrateeg Mike McGlone noemde beleggen in bitcoin de „nieuwe versie“ van goud.

Sprekend in een recent interview met Stansberry Research

Sprekend in een recent interview met Stansberry Research, voor het eerst gespot door Daily Hodl, beschreef McGlone cryptoassets en bitcoin als een essentieel onderdeel van elke beleggingsportefeuille, zeggende dat handelaren zich „naakt“ zouden moeten voelen zonder het.

Hij zei,

Vooruitkijkend in een wereld die digitaal wordt, zie ik dat Bitcoin concurrentie toevoegt aan goud. Maar ik vind dat Bitcoin eigenlijk in dezelfde emmer moet zitten, want als je alleen goud bezit, vind ik dat je je een beetje naakt voelt zonder Bitcoin.

McGlone zei dat de wereld snel aan het digitaliseren was, waardoor beleggers de voorkeur gaven aan moderne ontwikkelingen zoals bitcoin boven traditionele activa.

Hij vervolgde:

De belangrijkste risico’s voor iedereen die vooruit kijkt in goud is dat ik goudposities enigszins naakt zie als ze niet gepaard gaan met wat Bitcoin. Want Bitcoin is de nieuwe versie van goud.

De investeringsstroom in de richting van bitcoin gaat

De Bloomberg-analist zei dat de marktindicatoren laten zien dat de investeringsstroom in de richting van bitcoin gaat, waarbij sommige van de „oude garde goudbugs“ desinvesteren in bitcoin. Hij zei dat beleggers met bitcoin naar de „toekomst“ keken, terwijl ze de marktvolatiliteit bagatelliseerden.

Hij zei:

Dus als mensen zeggen dat de volatiliteit van Bitcoin hoog is, ja zeker, het bestaat nog maar 10 jaar. Ik bedoel, goud bestaat al sinds het begin der tijden. En de jaarlijkse volatiliteit van Bitcoin is ongeveer 50 op dit moment.

McGlone zei dat bitcoin een heleboel unieke dingen overkomen, waarbij het volatiliteitsrisico relatief laag is in vergelijking met de recente koerswinsten.

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Bitcoin pourrait avoir financé l’émeute du Capitole : Rapports

Un donateur français a versé plus de 500 000 dollars en bitcoin à des „militants d’extrême droite et des personnalités de l’internet“ qui ont participé à l’émeute pro-Trump DC la semaine dernière, selon Chainalysis.

En bref

  • Un compte étranger a transféré un demi-million de Bitcoin à ceux qui ont participé à l’émeute de la capitale la semaine dernière, selon les rapports.
  • Chainalysis pense que la source de ces fonds est un donateur français.
  • La police et les services de renseignement enquêtent, rapporte Yahoo News.

Bitcoin pourrait avoir joué un rôle dans le financement de l’émeute du 6 janvier au Capitole, selon de nouvelles recherches de la société de données Chainalysis.

Depuis que des centaines de partisans violents du Trump ont fait leur entrée au siège du gouvernement, de nouvelles informations sont apparues, suggérant que l’émeute était préméditée.

Aujourd’hui, Chainalysis rapporte que, le 8 décembre, un donateur a envoyé 28,15 BTC, soit environ 522 000 dollars au moment de son transfert, à 22 adresses différentes, dont beaucoup appartenaient à des „militants d’extrême droite et des personnalités de l’Internet“ qui étaient présents au Capitole. La nouvelle a été rapportée pour la première fois par Yahoo News.

Le nationaliste blanc Nick Fuentes – qui se trouvait au Capitole au moment de l’émeute – était parmi les destinataires, tout comme l’éditeur suprémaciste blanc Daily Stormer.

Gab, la plateforme sociale de liberté d’expression qui a été critiquée pour être devenue un espace sûr pour les discours de haine, a également reçu des bitcoins, selon le rapport.

Les agences fédérales de renseignement et les forces de l’ordre enquêtent sur la source des fonds, qui, selon le cabinet de recherche, proviendraient d’un „programmeur informatique basé en France, aujourd’hui décédé“.

Le cabinet a également déterré une poignée associée à l’adresse de Bitcoin : pankkake.

Le rapport de Chainalysis indique une lettre de suicide du donateur français, datée du 9 décembre, le jour suivant le transfert des bitcoins. „La civilisation occidentale est en déclin“, aurait déclaré la note, avant d’offrir une explication quant à la raison pour laquelle il a transféré le bitcoin.

„Je me soucie de ce qui se passe après ma mort“, a-t-il écrit. „C’est pourquoi j’ai décidé de laisser ma modeste richesse à certaines causes et à certaines personnes.“

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Bitcoin stiger nu närmare $ 42.000 och slår sina egna tidigare rekord

Trots vinsterna och den ständiga ökningen av priset på Bitcoin förväntar sig många kritiker en potentiell explosion av denna „bubbla“.

Bitcoin (BTC) har fortsatt att glädja investerare eftersom det har stigit förbi priset på 41.000 dollar, en ny rekordhög och slå sina egna tidigare rekord

Enligt till CoinMarketCap är en Bitcoin nu värd så mycket som 41.934 dollar i skrivande stund och representerar en vinst på över 8,7% under det senaste dygnet.

Cryptosoft fortsätter att glädja sina innehavare såväl som nya investerare eftersom de uppenbara prisvinsterna är synonyma med vinst, särskilt för dem som har tagit en position med myntet vid en tidigare tidpunkt. Rallyet 2020 tillskrivs huvudsakligen de bästa institutionerna runt om i världen som köper upp myntet medan den nuvarande pågående rallyen har tillskrivits en kraftig ökning av uppköpet av detaljhandelsinvesterare som fruktar att missa detta nuvarande bull run.

Trots vinsterna och den ständiga ökningen av priset på Bitcoin förväntar sig många kritiker en potentiell sprängning av tillväxten de märker som en bubbla. Förväntningen på en prisjustering har dock varken avskräckt de nya investerarna eller har väckt de gamla att sälja av sina upplupna vinster, ett steg som snabbt kan spåra profetiorna från dessa kritiker.

Konsekvenser av detaljhandelsinvesterare på Bitcoin-prispress till nya poster

Utan tvekan ligger huvuddelen av BTC i omlopp för närvarande inom kassan för mindre än 5% av de investerare som har tagit en position i Bitcoin. Medan en majoritet av de 5% inkluderar institutionella adopterare och de mycket rika enskilda investerarna, avslöjar data från detaljhandelsfokuserade kryptovalutabörser att detaljinvesterare hjälpte till att avsevärt pressa Bitcoin-priset utöver 4 000 000 dollar.

De Revolut app rapporterade att den registrerade cirka 300 000 nya kryptovalutakunder under de senaste 30 dagarna när bitcoin testade nya och högre prisnivåer och eToro noterade att den hade 61% fler unika bitcoininnehavare den 4 januari än den gjorde ett år tidigare och 49% mer unika innehavare av eter, en annan virtuell valuta enligt till en rapport från CNBC.

När marknaden verkar vara trångt tror analytiker att även om det finns en priskorrigering just nu är den allmänna trenden för bitcoin hausse.

”Det kommer att finnas volatilitet, vilket är naturligt efter de vinster vi har sett, men den långsiktiga trenden är tydlig”, säger Simon Peters, marknadsanalytiker på eToro, berättade CNBC. „Crypto flyttar in i mainstream, och fler och fler investerare lägger till exponering.“

Men i väntan på när denna volatilitet kommer att pressa Bitcoin-priset under det nuvarande stödet som är 41 000 dollar, förväntar sig kryptosfären hur högt denna tjurkörning går.

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Bitcoin-prisen tommer nærmere $ 30.000 med nye heltidspunkter

En rask avkastning til Bitcoin gnister 8% daglig gevinst og gir ingen antydning til en dypere reversering under $ 30.000.

Bitcoin ( BTC ) kom tilbake til å treffe rekorder 30. desember etter at en ny rebound tok den over $ 28.400 hele tiden.

BTC-prisen negler frisk hele tiden

Data fra Cointelegraph Markets og TradingView viste at BTC / USD taklet sin eksisterende historiske topp under handel på onsdag.

I en sterk gjenoppblomstring over natt bekreftet Profit Revolution at det ikke hadde tid for bjørn etter å ha dyppet så lite som $ 25 830 det siste døgnet.

Den daglige gevinsten var på 7,5% ved pressetiden da $ 28,560 ble realitet.

Flyttingen bringer Bitcoin stadig nærmere å forsegle $ 30 000 som et nytt psykologisk nivå før slutten av året, noe som virket alt annet enn umulig for bare en uke siden.

Som Cointelegraph rapporterte , mener analytikere likevel at en reversering kan ta den største kryptovalutaen ned til eksisterende støtte på $ 19.500.

Tirsdag Cointelegraph Markets analytiker Michaël van de Poppe likevel fremhevet $ 27 500 som det kritiske området for å bryte for å bane vei for nye all-time høyder.

Ether-prisen fører til alt-gevinster

Påvirkningen mellom store cap-altcoins ble tydelig merket, med Ether ( ETH ) som nærmet seg $ 740 etter å ha økt 5,5% på dagen.

Polkadot (DOT) la til eksisterende styrke for å se ukentlig ytelse nærme seg 50%.

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Bitcoin (BTC) ignites price fireworks

Firecracker ban? Bitcoin (BTC) ignites price fireworks

Despite a subdued New Year’s Eve mood, Bitcoin is already popping the champagne corks and laying its cards on the table for a promising 2021.

On the home stretch to the US$30,000 mark, the Bitcoin price (BTC) is putting in a hasty year-end rally. With a gain of 4.4 per cent in the last 24 hours, the largest cryptocurrency is Bitcoin Era trading at 27,986 US dollars as of the editorial deadline, just a few metres away from the stage goal. If Bitcoin breaks the next higher resistance at 29,726 US dollars, a direct rise above the ten-thousand mark is only a formality.

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Even if Bitcoin initially bounces off resistance, the preliminary year-end balance is more than respectable. As a reminder, Bitcoin started the new decade just above US$7,000. Barely 12 months later, the digital currency has posted an annual gain of around 280 percent. In 2020, the cryptocurrency has clearly demonstrated its immense potential and set the roadmap for the coming year. Both at the network level and with a view to market trends such as the increasing demand among large investors, the signs are also pointing to growth in 2021.

Bitcoin shortage

The fact that the limited BTC supply is gradually becoming scarcer has been an open secret at least since the large-scale purchases by institutional investors. According to bitcointreasuries, the account of such illustrious buyers as asset manager Grayscale, software company MicroStrategy and payment service provider Square alone already accounts for around 5.5 percent of the total amount in circulation. Since the introduction of BTC integration into its payment system, payment giant PayPal has also been getting involved in the market and is already buying more Bitcoin than it is adding.

Even laymen can see that the market is boiling over. The BTC demand of institutional investors exceeds the new supply generated by miners. Added to this are all the small investors, who in turn are creating increased demand. Thus, the available supply is gradually shrinking, which drives up the price while demand remains high.
BTC meltdown

Looking at the declining bitcoin reserves of the major trading venues illustrates this correlation particularly vividly. Since March, exchange holdings have fallen by around 20 percent and there is no end in sight to this trend.

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Ripples Q3 Report: XRP volume shoots through the ceiling

For Ripple, things are looking up: according to the third quarterly report of FinTech, the daily trading volume of XRP has increased by more than 107 percent.

San Francisco-based FinTech Ripple has published its third quarterly report for 2020. In it, the decentralised protocol records a 107 percent growth in average daily XRP trading volume compared to the previous quarter. While in Q2 it was just under 96.28 million US dollars, in Q3 it was correspondingly around 403.58 million US dollars. The network is thus recording a significant increase in usage and growing interest in the On-Demand Liquidity (ODL) payment solution offered by Ripple.

XRP total revenue up 10 percent

Total XRP sales were $35.84 million, an increase of more than 10 percent since the second quarter. Ripple explains that the company has focused exclusively on over-the-counter sales and leases as part of providing sufficient liquidity to certain ODL customers.

Ripple’s best customer: Ripple

In total, Ripple has approved three billion XRP for sale in the third quarter. Of this amount, 2.4 billion XRP have been returned to the escrow account, which is related to a decision taken in 2017.

At that time, the company committed to freeze 55 billion XRP in an escrow account and to release one billion XRP for sale each month. This decision has been criticised by the community on several occasions in the past and is therefore more often suspected as a possible reason for the average performance of XRP. However, several Ripple representatives, including Brad Garlinghouse, argue that Ripple does not or cannot influence the price of XRP.

On-demand liquidity service receives positive response

As the quarterly report continues, Ripple recently introduced a new credit product, the „Line of Credit“, which enables on-demand liquidity customers to take out loans in the form of XRP. The service is still in a beta version and is initially targeted at selected Fintechs and small and medium-sized enterprises (SMEs).

Asheesh Birla, the recently appointed General Manager (GM) of RippleNet, said in a Twitter post of 8 October that limited access to working capital was one of the main obstacles to growth for many companies. Therefore, the product is targeted in particular at Fintechs and SMEs. They would thus be able to raise capital on demand to initiate large scale cross-border payments with the digital asset XRP. So far, the response to the results of the work has been entirely positive. Therefore, Ripple plans to soon extend this service to other markets and customers, the company stated in its quarterly report.

Further launches so far promising

As BTC-ECHO reported on Thursday, Ripples CTO David Schwartz announced an additional XRP ledger feature. He calls it the „absolute gamechanger“ on Twitter. In addition, every server in the XRPL has a so-called „Unique Node List“ (UNL). It lists faulty validators and is also available when the validators are offline. In addition, the announcement of the Spark Token Airdrop for XRP owners recently attracted a lot of attention. Since September, XRP holders have been able to register their claim for the new Flare Network token using a tool for XUMM and the XRPToolkit. The final distribution of Spark Tokens will take place on 12 December. This announcement also provided positive feedback from the XRP community.

XRP is ideal for arbitrage trading

The third quarterly report also shows that XRP is ideally suited for arbitrage trading. This is due to the fast transaction times and low currency fees compared to Bitcoin Fast Profit. As a result, XRP can be sent from one exchange to another in a short time. Consequently, the small price differences can be used for short-term profits.

Using XRP as a bridge currency between exchanges, for example, allows traders to significantly reduce the time required and, more importantly, the associated volatility risk compared to other digital assets such as BTC and ETH,

says the report.

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Since the last update, the price of Stellar Lumens has doubled

The launch of the new Stellar protocol has been welcomed by the crypto market: in the last 48 hours the price has increased by 100%.

The price of Stellar Lumens (XLM) has risen by 60% in the last 24 hours and exceeded the $0.2 threshold for the first time since September 2018. This growth came after an announcement by developers about the implementation of a new Crypto Engine version of the Stellar protocol by validators.

The update of Protocol 15 came into force at 16:00 UTC on 23 November and introduces two new features, which aim to reduce the complexity for users of applications and services based on the Stellar network.

Until 21 November Stellar Lumens had no particular price fluctuations, but on that date the trading volume started to grow. XLM has doubled in the last 48 hours and is at the top of the list of the first 100 currencies for weekly earnings: it has achieved a 125% growth! Some believe that it could be one of the tokens driving the long-awaited „alt season“.

„$XLM Stellar Lumens was the first altcoin he bought. I have never sold them and have accumulated them over the years.

I am delighted to have so many of them now that they are worth $0.7 on average. All the way to Valhalla!“

Initially created as a fork of the Ripple Labs protocol by Jed McCaleb and launched in July 2014, Stellar seeks to reduce the cost of cross-border payments using blockchain. The project is particularly focused on serving areas of the world where access to traditional financial services is non-existent or so expensive that it is prohibitive.

The update to Stellar’s Protocol 15 includes two new elements, designed to improve the user experience while maintaining a high level of protection against „farm attacks“ and other methods that could interfere with the network. A „farm attack“ occurs when multiple accounts are created by a single person, with the purpose of collecting the small amounts of money sent to those accounts by service providers, necessary to activate the account.

According to Stellar’s official blog, the features of Protocol 15 have been under development for over a year and address some of the „major hot keys“ for developers who build applications and services on Stellar:

„After the upgrade, developers can create simpler, better user experiences that reduce the complexity of the blockchain without losing any of the benefits of a fast, affordable, permissionless public registry.
Stellar also recently announced a partnership with East African B2B payment solution provider ClickPesa. According to the blog post, ClickPesa decided to use Stellar, recognising it as an „opportunity to reduce problems related to intra-African cross-border payments and P2P payment activity“.

In October, Stellar made it clear that the stablecoin USDC would migrate to its blockchain in the course of 2021 in order to pursue its goal of simplifying cross-border payments: Stellar Lumens‘ strengths include extremely low transaction fees and settlement times of just 4-5 seconds.

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Crypto-Art: the ecosystem that takes art to new heights

Crypto art exhibits a unique characteristic that makes it different from anything that came before it.

BeInCrypto spoke with crypto-artists Daniella Attfield and PR1MAL CYPHER.

Crypto-art attracts a wide variety of like-minded members

Imagine being an artist , for a moment. Whether your niche is digital art or creating a physical piece, you are creating amazing visuals that others can enjoy. One of the most important elements of artistic creation is the protection of your work against reproduction without your permission.

In the particular case of digital art , there is always the possibility that the image will be reproduced several times and distributed, which essentially decreases the value of the work and destroys this precious element of rarity. Indeed, what was once a single original work has been multiplied by others, thus making it common.

Crypto-art has recently appeared on the scene, with a pioneering aesthetic. It sets out to offer a solution to the threat artists face when their works are copied by unauthorized parties, resulting in a depreciation of their work. In a nutshell, crypto-art is the artistic version of Bitcoin Bank.

To dig deeper into this point, BeInCrypto spoke with crypto artists. Daniella Attfield, a young South African crypto artist, explained this new and growing phenomenon:

Crypto art is fundamentally art (usually, but not always, digital art), that is, it receives a unique signature on the blockchain that confirms it is original and limited in quantity – just like original artwork and photographic prints that have been signed. It is then sold or auctioned for cryptocurrency and then transferred to the buyer, so that they have a totally unique and verified original work of art.

It is no different from traditional art forms, in that you would pay an artist if you wanted to own their original work. Often there can be several editions of the same work, as with photographic prints, and sometimes 1/1 editions as with oil paintings. The only difference is the digital signature. This means that crypto-artists can now sell their works in a way they can control.

A unique feature

There are apparently some drawbacks to the pursuit of the traditional art market , especially for obscure or unknown artists. Creating artwork can be a slow and tedious process. Artists must also think about all the elements necessary for an exhibition, which takes time and resources, in collaboration with a gallery willing to present their work.

The disadvantages increase when the presentation is limited to the time slot of a gallery, for example its opening hours. Artists may never see the immediate results of their work, although it can take years for their work to hit the market.

Unlike conventional works of art, crypto art has a unique characteristic, which makes it different from anything that came before it. Each crypto work of art has an exclusive and indelible identifier – a digital signature, similar to a copyright or encoded watermark, which is not visible to the naked eye.

This exclusive signature is then used to identify, verify and track its history on the blockchain, allowing the artwork to be inalienably linked to its unique signature and engraved in the blockchain’s immutable digital public ledger. This is called “tokenization”, “minting” or even “issuance of currency”.

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Glücksspielbuchhalter, der Kunden 41 Millionen S $ gestohlen hat, erhält Gefängnisstrafe

Ein in Singapur ansässiger Buchhalter, der über einen Zeitraum von zehn Jahren mehr als 41 Millionen S $ (ca. 30,2 Millionen S $) unterschlagen hatte, um seine übermäßige Spielgewohnheit zu befeuern, wurde heute zu 25 Jahren und 10 Monaten Gefängnis verurteilt.

Ewe Pang Kooi, 65, wurde in Malaysia geboren und wohnt in Singapur

Er wurde wegen 50 Anklagepunkten wegen Vertrauensbruches als Agent für schuldig befunden. Er hat zwischen Februar 2002 und Juli 2012 einen „massiven“ Geldbetrag missbraucht, während er drei Funktionen in Singapur innehatte – als Liquidator eines Unternehmens, als Empfänger für das Vermögen eines Kunden und als Agent für die Führung der Bankkonten von N1 Casino.

Ewe war Wirtschaftsprüfer und Liquidator . Er war geschäftsführender Gesellschafter der Wirtschaftsprüfungsgesellschaft Ewe, Locke & Partners und Direktor der Steuer- und Finanzberatungsfirma E & M Management Consultants.

Gerechtigkeit Chan Seng Onn sagte heute, dass Ewe „von einem unstillbaren Appetit auf Glücksspiel getrieben wurde“ und dass „die Spielgewohnheit eines Mannes für viele einen hohen Preis hatte“.

Ewe konnte mehr als 17 Millionen S $ des gestohlenen Geldes zurückzahlen, aber die restlichen 24 Millionen S $ müssen noch zurückgefordert werden .

Der fehlerhafte Buchhalter hätte lebenslang inhaftiert und zu einer massiven Geldstrafe für kriminellen Vertrauensbruch verurteilt werden können. Während des Prozesses forderte die Staatsanwaltschaft eine 30-jährige Haftstrafe, während die Verteidigung behauptete, dass zwischen 12 und 18 Jahren eine angemessene Haftstrafe seien.

Der Richter sagte heute, dass Ewe während der Ermittlungen uneingeschränkt kooperierte und Tatsachen nicht vor Gericht bestritt, was den Ermittlungsbehörden viel Zeit und Ressourcen ersparte.

Wie es passiert ist

Ewe hat die ihm anvertrauten Gelder zu seinem persönlichen Vorteil und zur Stärkung seiner Spielgewohnheiten missbraucht. Seine Verbrechen betrafen 21 Unternehmen, die ihn als Liquidator angezapft hatten, darunter sechs Tochtergesellschaften des Technologieriesen Hewlett-Packard .

Als Liquidator hatte Ewe Zugang und Kontrolle über Bankkonten und Vermögenswerte seiner Kunden, so dass er Zahlungen an Gläubiger leisten und das Vermögen der in Liquidation befindlichen Unternehmen zurückerhalten konnte. Er bewegte Gelder zwischen Unternehmen, um zu verhindern, dass seine Verbrechen entdeckt wurden, und spielte das Geld dann in Casinos weg.

Sein ausgeklügeltes Schema wurde schließlich von Hewlett-Packard entdeckt, als das Unternehmen ihn wegen Vermögenswerten aus der Liquidation verfolgte. Er musste zugeben, dass er Geld missbraucht hatte.

Psychiater, die Ewe beurteilten, sagten, er sei ein „pathologischer Spieler“, und sein Zustand veranlasste ihn, die Gelder seiner Kunden so zu behandeln, wie sie seine eigenen waren. Es wurde festgestellt, dass der stehlende Buchhalter große Beträge von bis zu 150.000 S $ in Casinos für einen „Kick“ gesetzt hat.

Ewe sagte vor Gericht, dass er keine Verbrechen mit finanziellen Vorteilen geerntet habe und dass er keinen Reichtum angehäuft habe. Als Patron vonResorts World Sentosa’sIn der Casino-Etage wurde dem Buchhalter ein „permanentes“ Hotelzimmer im Resort und „genügend Punkte für ein angenehmes Leben“ angeboten , wie bekannt wurde.

Der vorsitzende Richter sagte heute, er erkenne die Notwendigkeit an, dass „das Gericht hart gegen den Angeklagten vorgeht, um gleichgesinnte Straftäter abzuschrecken, die […]

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JPMorgan sees „significant“ growth potential in Bitcoin

The investment bank JPMorgan sees three main reasons for great growth potential in Bitcoin.

The $ 316 billion investment bank JPMorgan describes the long-term potential of Bitcoin ( BTC ) as „considerable“

This new optimism towards the market-leading cryptocurrency comes only a short time after the large payment service provider PayPal announced that it wanted to include cryptocurrencies in its own range of services.

The main reason JPMorgan’s Global Market Strategies division cites for their confident view is the competitive nature of Bitcoin and gold. To this end, a letter from the investment bank that Business Insider has received says:

„Bitcoin’s long-term potential is substantial as it increasingly competes with gold for ‚alternative‘ currency status, as millennials (young generations) become an increasingly important part of the investment market over time.“

In this context, the analysts also point out the currently still massive difference in the market values ​​of Bitcoin and gold. The market capitalization of gold from exchange-traded funds (ETFs) to gold bars is at least 2.6 trillion. US dollars, while Bitcoin only hits $ 240 billion. So the cryptocurrency still has a lot of room to grow if it actually catches up with the precious metal in the favor of investors.

JPMorgan cites three main reasons

JPMorgan’s letter sees a total of three main reasons that make up Bitcoin’s long-term growth potential.

Firstly, as just mentioned, Bitcoin would have to grow by a factor of ten in order to achieve the same market value as gold, secondly, cryptocurrencies have a very high level of usability and thirdly, BTC could be particularly popular with the younger generations in the long term.

PayPal’s recent entry into the crypto market and the rapidly increasing interest of institutional investors shows that Bitcoin is indeed increasingly perceived as a gold-style security tool.

There is currently still a massive difference between the cryptocurrency and the precious metal in terms of market value, but gold has been a store of value and a means of security for a long time. However, Bitcoin has unique advantages that make even JPMorgan analysts optimistic about the cryptocurrency’s chances in a duel.

One of these advantages is the usability of Bitcoin. The cryptocurrency is based on a blockchain, which in turn means that its users can send the financial product to one another in an efficient and uncomplicated manner using this network. In order to transfer gold, however, the physical exchange of the precious metal is required, which is often only possible with great effort.

Accordingly, it is a lot easier to transfer $ 1 billion in capital in Bitcoin via a blockchain than to move the same amount in gold. The analysts of the investment bank further explain:

“Cryptocurrencies get their value not only because they act as a store of value, but also because they are a means of payment. The more the economy accepts cryptocurrencies as a means of payment in the future, the higher their usability and value. “

How big is the potential?

In many ways, Bitcoin is still in its infancy, as Cointelegraph reported , with just under 7% of Americans having ever bought Bitcoin.

In addition, there is still a lack of clear crypto regulation in many countries, which is why financial institutions have so far refrained from storing crypto currencies or even including them in their range of services. Biticoin still has plenty of room to grow in the next five to ten years, which makes a market value comparable to gold quite conceivable.

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