By All Means: to Make Money Out of Sand or to Use Some 'Magic' (Investment Digest, Oct 31—Nov 07)

GBV launches a $100M blockchain fund, Siemens invests $681M, Dapper Labs acquires $15M, Bitfury secures $80M, investors are defrauded of 6,9M HKD, FLiK is used to steal $5M, $300M to build crypto city, Grayscale releases its Q3 investment report, Morgan Stanley publishes its BTC report, crypto investor owes government $400K in taxes, Bitcoin Exchange Guide shows BTC traders mistakes, where institutional investors can invest in crypto

  • $100 million blockchain venture fund was launched by Global Blockchain Ventures, LLC (GBV) with a seven-figure investment from Stonegate Digital Capital Group. GBV concentrates on blockchain, IoT, MedTech, and AI. Al Weiss chairs the firm.
  • Siemens funds a center for the study and development of blockchain, AI, and other sophisticated technologies. The German manufacturing company invested a total of $681 million.
  • Dapper Labs, maker of CryptoKitties, acquires $15 million worth of investments. Companies who invested include Andreessen  Horowitz, Google Ventures, SamsungNEXT, aXiomatic, and William Morris Endeavor. The funds will be used to develop Dapper Labs platform.
  • Bitfury may have signified a delay for an IPO after announcing it obtained nearly $80 million in a private placement funding round. The round saw participants from European, Asian, and US institutional investors. Korelya Capital led the private placement round.
  • A Hong Kong investment guru is indicted for defrauding investors of 6.9 million HKD. Raymond Yuen, called The Young Wizard of Investment, was able to gain the trust of investors through using his standing as a financial expert. Investors related to Hong Kong’s Democratic Party on how they were lured into the Ponzi scheme.
  • American Rapper T.I. and Ryan Felton are sued by investors saying the two men carried out a Ponzi scheme using their coin FLiK. The 25 plaintiffs are claiming $5 million in damages.
  • Jeffrey Berns, Blockchains LLC CEO, purchased at least 67,000 acres of Nevada desert to build a crypto city, Sandbox City. He said he put in $300 million to bring the plan to life. The CEO prospered after investing in Ethereum on 2015.
  • Grayscale released its Q3 investment report on 1 November. For its third quarter, Grayscale, a digital asset manager company, saw inflows amount to $330 million, increasing its crypto-related assets to $1.5 billion. The company raised a total of $81 million. This is the highest Q3 that the company has experienced.
  • Morgan Stanley published their Bitcoin report: Update: Bitcoin, Cryptocurrencies and Blockchain. The report called Bitcoin and altcoins a ‘new institutional investment class’.

General ideas


8,744 USD -2.40%
Volume, 24h
3,497,717,274 USD
153,922,072,217 USD

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Bitcoin Price Analysis: BTC Breaks Down The Wedge. Now, Will $8000 Hold?

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Bears Have Been Proved Wrong, Bitcoin is Still Strong

The fiscal salvage of recent years has openly proved wide of the mark the doomsday economists. Several parties will more probably be just as off beam about cryptocurrency including Bitcoin (BTC). As per now, the economic projection seems amazingly positive, however, a few months ago, some economists forecasted differently.
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Crypto Analsyt Predicts Bitcoin’s Inflation Rate Post-Halving in 2020

The bitcoin vs USD debate is never-ending with both currencies having their own share or pros and cons. When it comes to inflation rate, bitcoin seems to fare better than USD, having a lower inflation rate than the latter. Crypto analyst and founder of Standpoint Research Ronnie Moas is of the opinion that Bitcoin’s inflation rate will dip further after reward halving in 2020, therefore, establishing it as a more stable store of value than the US dollar. Bitcoin’s Inflation Rate is 4% at Present Popular crypto influencer Ronnie Moas recently took to Twitter to share that Bitcoin’s inflation rate at present was 4%, and it was going to dip below 2% after Bitcoin’s reward halving in May 2020. He also predicted that it was going to reduce to less than 1% in 2024. He compared the inflation rate with that of the fiat currencies of other countries, 70% of which have an inflation rate of greater than 4%. The USD dollar also belongs to this league of countries since the US dollar has depreciated 50% in the last 20 years as per Moas’ tweet. Current #bitcoin inflation rate 730,000/18,150,000 = 4%. More than 70 countries in the World are above 4% w/ many >6%. BTC rate will drop <2.0% in May 2020 #halving, & drop <1.0% by 2024 … US$ has lost 50% of its value since 1989 … & the 'BTC Bears' ask what is backing $BTC? — Ronnie Moas (@RonnieMoas) November 19, 2019 If Moas’ prediction is proven correct, then it would imply that Bitcoin is a healthier store of value than fiat because it has a low and stable rate of inflation over an extended period of time. People in countries with high inflation rate, like Venezuela and Argentina are already flocking to Bitcoin. In May 2019, Bitcoin was trading above 3,50,000 “peso Argentino” or $20,000 in US dollar terms, owing to fears of extreme inflation. Earlier in November, Ray Dalio, leading economist and founder of the world’s largest hedge fund, Bridgewater Associates, had also raised concerns about the viability of the three major world reserve currencies – dollar, euro and yen as viable stores of wealth. Portfolio Managers Ignoring Bitcoin Are Not Fulfilling Their Fiduciary Responsibility Ronnie Moas is also of the view that portfolio managers who have not yet diversified their clients into bitcoin are not fulfilling their fiduciary responsibility. He predicts that the US stocks might double in the next 5-7 years. But, before that, the growth will be interrupted by a spell of recession which is likely to occur in 2020-2021. Bitcoin, however, will most probably double in the next 5-7 months, says Moas. Portfolio Mangers who haven't diversified their clients into #bitcoin are failing in their fiduciary responsibility. US #stockmarket Might double in the next 5-7 Years … Interrupted by a recession … probably in 2020-2021. $BTC will probably double in the next 5-7 Months. — Ronnie Moas (@RonnieMoas) November 18, 2019 His prediction for Bitcoin echoes with the predictions of many other analysts who believe that Bitcoin price will soar and hit a new all-time high upon reward halving. A technical analyst had predicted earlier in the month that Bitcoin will shoot up to $1,41,000 after halving. Given the current bearish mood of the market, and the halving just half a year away, it will be interesting to see how Bitcoin behaves in the coming months. The post Crypto Analsyt Predicts Bitcoin’s Inflation Rate Post-Halving in 2020 appeared first on Coingape.

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