In just five months, an asset manager is known as “50 Cent” generated a $1.1 billion profit on bitcoin. Ruffer made a $600 million investment in November and sold the last of its coins in April. The firm warned that if the lockdowns are lifted, younger people may lose interest in crypto. According to The…
Open Interest in Red-Hot Ethereum Surpasses Open Interest in Bitcoin Following the recent cryptocurrency market crash that saw the price of bitcoin plunged from a near $64,000 all-time high to $29,900 before it recovered to $36,000, open interest for Bitcoin has dropped significantly, while for Ethereum it surged. According to CryptoCompare’s May 2021 Exchange Review,…
In India, gig workers have been using cryptocurrencies as a legitimate form of payment. According to multiple users and experts, software developers, content creators, and others who work with global companies use cryptocurrencies as a means of remittance rather than fiat currencies. “There are two schools of thought. One is that you can’t take crypto…
Nandan Nilekani, the co-founder of Infosys, wants India to recognize cryptocurrencies as an asset class, indicating that they are gaining traction in India despite regulatory uncertainty. “Just like you have some of your assets in gold or real estate, you can have some of your assets in crypto. I think there’s a role for crypto…
Stablecoins, on the other hand, are less susceptible to price changes. Stablecoins are digital currencies that are backed by a physical object, usually a fiat currency. However, they retain much of the appeal of other cryptocurrencies, providing investors with access to a new and fast-evolving asset class. A stablecoin is a cryptocurrency whose price is…
According to a $7.5 billion hedge fund, gold will rocket to new highs next year, but investors seeking monetary alternatives as global debt rises should go to Bitcoin. Even as the Federal Reserve begins to trim asset purchases, both are expected to surge, according to Troy Gayeski, co-chief investment officer and senior portfolio manager at…
