New Opportunities for Investors and Missed Chances (Investment Digest, Oct 17)

Dragonfly Capital Partners reveals a $100M fund, ConsenSys invests $15M to Adhara, Blockfolio raises $11,5M, SportyCo to buy Hull City FC for $58.9M, US universities invest billions in crypto funds, Genesis Vision partners OKEx, CoinCola partners Dash, Nouriel Roubini's mistake

  • A crypto-centric venture capital startup, Dragonfly Capital Partners, reveals a $100 million fund reserved for digital assets. The startup intends to invest in three asset types namely crypto funds, tech startups, and DApps. Bitmain and OKEx are among its investors.
  • After the USDT price fall, Tether Limited, the issuer of the tokens, upholds in a statement that the stablecoin is sufficiently backed by USD. The coin moved faintly up in yesterday’s market but it remains under one dollar (as of its yesterday’s trading price).
  • ConsenSys invests $15 million to startup Adhara. According to Joseph Lubin, his firm invested in the startup due of its track record of delivery. Banking innovators Julio Faura, Peter Munnings, and Edward Budd are the creators of Adhara. The company intends to bring privacy to central banks.
  • Blockfolio, a free cryptocurrency tracker app, aims to expand from being a data provider into an intermediary. $11.5 million was raised in a Series A funding round. Companies who invested include Pantera Capital, DCM Venture, BitMEX, Huobi, and Block72.
  • SportyCo is gearing up to put in £45 million, an equivalent of $58.9 million to buy Hull City football club. By uniting institutional investors with the fan base, they are sure to reach a stable Hull City AFC.
  • A report released on 10 October, indicated that prominent US universities such as MIT, Harvard, and Stanford among others, have invested in one or more cryptocurrency funds. Harvard is said to have made the biggest investment amounting to $39.2 billion.
  • BK Global Consortium, a Singapore firm, endowed $353 million or 400 million won to Bithumb. Kim Byung-gun, lead of BK Global, plans to start Bithumb DEX, which is similar to Binance and Coinbase. Releasing stablecoins are also a part their expansion plan.


  • Genesis Vision teams up with OKEx. By creating an account on Genesis Vision’s platform, an investor can be a manager and begin their own investment curriculum. Because of the partnership, Genesis Vision will have access to the assets listed within OKEx. OKEx is considered the second largest exchange.
  • CoinCola takes-off in Venezuela. The p2p, OTC platform collaborates with Dash to expand the accessibility of cryptocurrency within the country. To commemorate the partnership, there will be no trading fee for Dash transactions until 31 October.

Bonus Track

  • Nouriel Roubini failed to foresee and join Bitcoin’s upsurge. A 2013 tweet by the economist, who predicted the market crash of 2008, was unearthed. In the tweet Roubini mentions BTC price at under $58.


3,610 USD


1.00 USD


72.75 USD

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Bitcoin Miners’ Refuge? Zcash Mining Hash Rate Sees 650% Growth

While the bitcoin hash rate has taken a downward shift during the latter half of last year, Zcash has been on a constant upward movement that could make it a crypto miners refuge. Miners Flocking to Zcash The reports of Bitcoin miners leaving the crypto mining scene has been doing the rounds since mid-2018 after the crash of 80 to 90 percent in cryptocurrency prices. Bitcoin is down about 82 percent from its all-time high at $20,000 to about $3,500. Around October, Bitcoin hash rate took a dip and only started upward descent in mid-December. According to Diar’s latest report, cryptocurrency miners are flocking to Zcash due its block reward halving period. “Cryptocurrency miners have found refuge in solving for Zcash with the block reward still two halving periods behind Bitcoin (Zcash follows the same controlled supply model with differing block times).” The privacy-focused cryptocurrency, Zcash is a code fork of Bitcoin protocol that uses  zero-knowledge proofs to “enable privacy-preserving transaction data.” It first came into existence in late October 2016. The hash rate of Zcash has been growing on a constant upward movement as can be seen in the 1-year chart above. “With 7200 ZECs up for grabs daily the networks mining hash rate has been able to sustain a 650% growth as other cryptocurrencies lose equipment in the face of the ongoing bear market and stiff competition.” Earlier this month, zooko Took to Twitter to share the ongoing developments in Zcash to share that “As expected, the GitHub thread about radically revamping Zcash mining is heating up. … It’s important because at today’s prices there is more than $400K/day of new Zcash issuance” The community is also working on Zcash blossom, a “dual-proof-of-work scheme, where one algorithm is backward compatible with current mining equipment, and another is designed to work well with GPUs on a temporary time scale.” Harmony mining will be affecting the miners as its goal is to make the Zcash ecosystem more resilient by “spreading issuance and political influence among distinct kinds of stakeholders.” The post Bitcoin Miners’ Refuge? Zcash Mining Hash Rate Sees 650% Growth appeared first on Coingape.

Bitcoin (BTC) Price Reaching $10 Million Could Assist in Solving the World’s Growing Debt Problems

There are several individuals and experts predicting Bitcoin (BTC) to reach new highs in the future. Most of the predictions tend to be between $20,000 and $1 million in the coming years. Nevertheless, Lucid Investment Strategies believes that Bitcoin could skyrocket up to $10,000,000 in the future. If that happens, the debt problem that the world is currently facing could be eventually solved. The asset management firm Lucid Investment Strategies is one of the most bullish companies on virtual currencies and Bitcoin. In a recent report released by the company, Bitcoin could reach $10 million and become the new gold standard. This could also have a deep and positive impact on the current world debt. Indeed, back at the end of 2018, the world debt was close to $247 trillion, compared to $317 trillion that the world has in total wealth. Although the wealth around the world remains larger than the debt, the gap between both is getting closer and closer every year. In this report, the company explains that this situation is not sustainable anymore and that the solution could be related to Bitcoin and cryptocurrencies. Two of the solutions could be to adopt a new gold standard or just start investing in Bitcoin. Although it might not be easy to happen, Bitcoin is the best alternative for it since it would offer a permanent fix to this debt crisis that the world is currently experiencing. For the company, Bitcoin offers the greatest benefits with the least collateral damage to the least number of parties. The company believes that Bitcoin could reach new highs close to $10 million. In this way, Bitcoin would provide enough res. On the matter, the company explained: “Why $10 million? At that level, Bitcoin would provide a sufficient reserve to alleviate the world debt burden. Bitcoin would be worth between $180 trillion and $210 trillion (depending on when that price was reached. Assuming world debt had reached $500 trillion at that time, remember it has grown by 394% over the past 20 years, Bitcoin would represent a 40% reserve against the debt.” Nevertheless, there is a long way for Bitcoin to reach these values. Indeed, now it is still in a bear market that started back in December 2017 when Bitcoin was traded close to $20,000. Now, Bitcoin is being traded around $3,581 and it has a market capitalization of $62.65 billion. Bitcoin would have to move from this bear market and try to reach the last all-time high. After it, the most popular cryptocurrency will have to keep growing. In order for this to happen, Initial Coin offerings (ICOs) will have to lose their value, however, Bitcoin would have to do it at a lower rate than its competitors in the space. After surpassing $20,000 the next step would be to reach $100,000, allowing Bitcoin to be a close rival to gold as an economic hedge. There might be a moment in which gold investors would move towards Bitcoin. The path to reach $10,000,000 would be faster if that happens. Scaling solutions will also play an important role in increasing Bitcoin’s value. When the largest cryptocurrency in the market reached $20,000, transactions were slow and a single transaction could cost $55 in fees. Now, Bitcoin developers are working on a solution for its scaling issues known as the Lightning Network (LN). In this way, Bitcoin would be able to process thousands of transactions per second without having to contest the whole network. Institutional investors are also going to play an important role in helping Bitcoin to reach its $10 million dollars’ goal. There are some companies that are trying to develop new platforms for institutions and larger investors that want to gain exposure in the market. This will be accomplishing the road to $1 million, reads the report. At $1 million per coin, Bitcoin will have a market capitalization of $18 trillion, which would make of it one of the major assets in the world. Pension funds, institutional money managers and other financial institutions will be paying close attention to this asset and ultimately reach $10,000,000. This is something that might be difficult to achieve in the near future, but not impossible to see it.
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