Category: Cryptocurrency News

OpenSea transaction volumes are booming again, a certain influencer was “cancelled” and Madonna might be on the verge of buying a Bored Ape Yacht Club NFT.

The former President’s son Eric Trump fired off a threatening tweet to TrumpCoin for using his family’s name fraudulently, although the token’s Twitter account appeared unconcerned.

ARK Invest, the brainchild of savvy investor Cathie Wood, has had a rough go over the past few months. The flagship fund ARKK is down nearly 60% from it’s record high last year, however Wood and her team of analysts aren’t stopping their full-focus on innovative and forward-thinking investments – even when fundamental investments are running the show. This week was host to ARK’s ‘Big Ideas Summit,’ and ARK crypto analyst Yassine Elmandjra supplemented that material with a boisterous bitcoin tweet that will be music to BTC maxi’s ears. Cathie Wood & ARK Invest: Notorious Bulls Elmandjra’s tweet, which can be found below, showcases how a single BTC unit could hit $1M in value, with a couple prime assumptions: The price of a single bitcoin could exceed $1 million by 2030. We are still early. pic.twitter.com/rvja2h2vi5 — Yassine Elmandjra (@yassineARK) January 25, 2022 Let’s take a look at that graphic specifically to drill down on the assumptions being made here, and why they’re important: The core key assumption here, of course, is the staggering growth in bitcoin’s market cap over the next 9 years. In this model, the ARK team is projecting growth from a current market cap of $1.1T to a $28.5T market cap. How does this scale? According to an October 2021 report from securities trade group SIFMA, the U.S. equity markets carry a market cap around $50T – making a $28.5T market cap for a global bitcoin market seem not all that unreasonable. Elmandrja’s graphic also states anticipated breakdown of the use case allocated within the market cap, and it’s representative contribution towards the price per BTC. Related Reading | Bitcoin Recovers From Seven Month Low Of $33K ARKK, the flagship innovation fund behind ARK Invest, has had a difficult year following strong success. Can growth stocks and innovative investments turn around? | Source: NYSE: ARKK on TradingView.com More From The Research Desk… Elmandrja and the ARK Invest team continue on to note that even assuming a $28.5T market cap could be more conservative than ambitious. Elmandrja added, “If Bitcoin does hit $1 million, it will still only represent a fraction of global asset values” and also highlighted the notorious ‘diamond hands’ that bitcoin holders often exhibit, stating that “market participants are maturing and remain long term focused. Aggregate cost basis (realized cap) is at all time highs and more than 13.5 million btc are held by long-term holders.” This, of course, isn’t likely anything groundbreaking to those who have studied the bottom-line extensively. Compared to other relative global markets, a $28.5T bitcoin market cap today would even be trading at multiples less than comparable markets, such as the global real estate market, global bond market, or global equities market. Elmandrja’s full thread is a worthy read for these reasons and several others that take deep dive into ARK’s optimism around bitcoin (and crypto at large) as an investment vehicle. You can also read their broader Big Ideas 2022 report here. Related Reading | Bitcoin Whales Take Advantage Of Market Crash To Gobble Up Millions In BTC Featured image from ark-invest.com, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

​ Hey, thank you for reading. I am not new to crypto , but I am new to DeFi. About to lose my mind right now, literally, please help guys! So, I bought OUSD on the OUSD website with my MEW (My Ether Wallet) I got a Ledger so. I set up an ETH wallet…
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submitted by /u/banaanigasuki [link] [comments]

I currently have a Metamask wallet and the app offers two ways to buy coins: 1. Wyre and 2. Transak. Should I just choose any one of those to purchase coins? or are there better places to get coins from? submitted by /u/TanseyJ [link] [comments]

submitted by /u/SandbaggingHermit [link] [comments]

The news just dropped : the International Monetary Fund (IMF), just "urged" El Salvadorian authorities to fully drop Bitcoin as legal tender. As written in this article, the higher-ups at the IMF told the small country that "there are large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection,…
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One of the key principles of Ethereum and other blockchains is that they are "opt in only" I.e., if you like it, use it, and if you don't like it, then just don't use it. This is all well and good, but the problem with this now is 2 key negative externalities. The energy use…
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