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According to the CEO of Instagram, Adam Mosseri, the social media application is looking into non-fungible token (NFT) technology. During an ask-me-anything (AMA) session on Instagram, Mosseri said that the company wants to make NFTs “more accessible to a wider audience.” Instagram CEO: ‘We Are Definitely Actively Exploring NFTs’ Following the firm’s parent company Facebook […]
The premium on CME Bitcoin futures dropped to zero, but data shows pro traders are still bullish.
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Billionaire Ray Dalio has revealed that he holds bitcoin and ethereum holdings. Various billionaires have also been public about their bitcoin and ethereum holdings. For a lot of these billionaires, the move from cash into cryptocurrencies has been a pertinent one as the former continues to lose its value in the market. Dalio also gave this as a reason for holding the cryptocurrencies. Growing concerns about the value of cash as an investment have seen both institutional and individual investors move their holdings into cryptocurrencies. Coupled with rising inflation rates, diversifying into cryptocurrencies like bitcoin and ethereum has become more popular. Related Reading | Millennial Millionaires Are The Most Bullish On Crypto, Survey Finds Dalio Owns Bitcoin And Ethereum Billionaire Ray Dalio sat down with Yahoo! Finance to talk about the financial market and how one can be successful in it. Talking with host Andy Serwer, Dalio confirmed once again that he owned bitcoin but this time around, the billionaire revealed that he had added ethereum to his holdings. This was in response to a direct question from Serwer about the billonaire’s crypto holdings. BTC dives into $45,000 territory | Source: BTCUSD on TradingView.com Dalio declined to give a precise amount of bitcoin that he owned, which is understandable, but explained that he did not own a lot of either bitcoin or ethereum. As for the reason behind holding these cryptocurrencies, Dalio explained that it was because he viewed it as an alternative to cash. “I view it as an alternative money in an environment where the value of cash money is depreciating in real terms,” said the billionaire. Diversification Is Key For Dalio, buying into bitcoin and ethereum is also a diversification play. During the interview, the billionaire hedge fund manager reiterated that investing in cash is the worst investment there is. This is because cash loses buying power and as such, the longer one holds cash, the lesser the buying power of that cash. He urged investors to not “judge anything in your returns or your assets in nominal terms, in terms of how many dollars you have. View it in terms of inflation-adjusted dollars.” Related Reading | Struggling Prices Beats Bitcoin Expectations Down From $100K To $50K Dalio stresses that it is important for investors to always diversify their portfolio and that is what he has done with his crypto investments, even though it is still a relatively small part of that portfolio. “The important thing is to diversify one’s portfolio well. Because we know from the surprises in the balance– we also know that those asset classes on average significantly outperform and will significantly outperform cash.” The billionaire concluded by saying that cash is a “problematic asset.” Therefore, diversification out of this asset is important. “And that diversification should be also international diversification from countries, not just asset classes, in order to have a truly well-diversified portfolio,” Dalio added. Featured image from CNBC, chart from TradingView.com
Hello everyone, So I used to be a district manager for GameStop years ago. At the time a large chunk of the net profit and goals for each store was resale of used games. It had like a 80% margin and made up about the same amount of net profit for each location With games…
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Bitcoin and most major altcoins are trading below the 200-day SMA, suggesting that bears are in full control.
The firm behind the namesake platform wants to bring Mongolian artists to the world stage and promote an authentic cultural experience to tourists through the Metaverse.
I still remember it like it was yesterday. New Year's Day 2017, chilling at the homies crib, drunk at 4 am. I just got through a divorce, lost my father three years prior, a complete mess. My homie RANDOMLY says, "Hey guys, my business partner showed me this bitcoin thing. It's almost 1k" I download…
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