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Charles Hoskinson’s take on whether US govt. will ban Bitcoin, Cardano

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The CEO of IOHK Charles Hoskinson weighed in on several topics during his latest ask-me-anything session, one which he live-streamed from Colorado, USA. During the AMA, Hoskinson appeared to defend both Bitcoin and ADA in response to a question about the regulatory future of the two cryptos.

When one YouTube listener asked what would happen to Cardano if the United States government decided to ban Bitcoin, Hoskinson was quick to dismiss the same. According to the exec, Bitcoin will never get banned in the U.S as the crypto-asset is far from such harsh regulations.

“That ship has sailed. Bitcoin is not getting banned.”  

Hoskinson’s opinion resonates with those of several crypto-bulls who think it is unlikely for Bitcoin to be outlawed. For instance, towards the end of last year, former Acting Head of the U.S Office of the Comptroller of the Currency (OCC) Brian Brooks had said that regulators are “very focused” on “not killing” Bitcoin.  

On the contrary, Bridgewater Associates’ Co-founder and Chief Investment Officer Ray Dalio has had opposing views on the subject. According to him, there is a “good probability” that the U.S government will “outlaw Bitcoin” in the same way as gold was banned in the 1930s in the USA. In fact, Dalio also cited the case of regulators in India who are reportedly preparing to ban the crypto-asset altogether. 

Like most other Bitcoin supporters, Hoskinson may have referred to how the crypto-asset has the potential to hedge inflation. This is one of the reasons why French economist Marion Laboure concluded that Bitcoin is now “too important to ignore.” 

Even central banks and governments understand that “Bitcoin and other cryptocurrencies are here to stay,” Laboure argued, with the economist arguing that governments will “start regulating” crypto-assets “late this year or early next year.”

With the global crypto-population surging past 100 million users, future generations “may usher in mass adoption.” The same was supported by a Deutsche Bank survey that found that millennials are increasingly replacing cash and bank cards with cryptocurrencies.

Meanwhile, Hoskinson had previously suggested that Cardano is reportedly “at the cusp” of deals and initiatives through public-private partnerships in certain nations in Africa and is making way for “millions of users” to enter the Cardano ecosystem this year.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://ambcrypto.com/charles-hoskinsons-take-on-whether-us-govt-will-ban-bitcoin-cardano

Blockchain

European Hedge Fund Brevan Howard to Invest $84 Million In Cryptocurrencies

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It should be no surprise that more traditional corporations join the crypto fever by investing in bitcoin or adopting blockchain technology. Brevan Howard, a European hedge fund, is the latest asset manager to join the movement.

Bloomberg reported that the asset manager is preparing to invest $84,000,000 in digital assets, representing 1.5% of its $5.6 billion hedge fund. Jonny Steindorff and Tucker Waterman, co-founders of crypto investment firm Distributed Global, will oversee the initial allocation.

Betting on Several Cryptos

According to a person familiar with the matter, the fund will have a diverse portfolio by focusing on several crypto assets besides bitcoin and ether. Its co-founder, Alan Howard, has vast experience in the field, investing in cryptocurrencies and backing the crypto funds of US-based One River Asset Management.

Howard is now expanding his investments following a year of record gains. He now joins the likes of Paul Tudor Jones and Stanley Druckenmiller, well-known hedge fund managers who have turned into prominent bitcoin supporters, calling BTC a better store of value against declining fiat than gold.

A Hedge Against Fiat

The US government has taken measures to fight the pandemic with a 1.9 trillion COVID-19 relief package – the most recent one. Several analysts in the field have warned about a possible state of inflation for the US Dollar as the Federal Reserve is printing large sums of paper money.


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As reported, Druckenmiller joined Jones by investing in Bitcoin. During an interview on CNBC, he admitted that he’s long on BTC, adding that the crypto could become a better store of value against that scenario.

“I’m a bit of a dinosaur, but I have warmed up to the fact that Bitcoin could be an asset class that has a lot of attraction as a store of value,” — said Druckenmiller

Last year, Jones started buying bitcoin when the COVID-19 hit the global markets in March. His hedge fund, the Tudor Investment Corporation, has been investing part of its capital in bitcoin futures.

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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cryptopotato.com/european-hedge-fund-brevan-howard-to-invest-84-million-in-cryptocurrencies/

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DOGE passes Uniswap and Litecoin to become 8th largest cryptocurrency by market cap

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The price of Dogecoin has surged seemingly without any push from prominent figures on social media or major developments in the project. 

According to data from CoinMarketCap, the price of Dogecoin (DOGE) is more than $0.18 at time of publication, with a market capitalization of roughly $23.8 billion. The token’s most recent rally had its price surge more than 63% over the last 24 hours, passing both Uniswap (UNI) and Litecoin (LTC) and become the 8th largest cryptocurrency by market cap.

More retail outlets have adopted the currency as a form of payment in recent days. On Tuesday, a popular Miami nightclub announced it would be accepting DOGE upon reopening as payment for tables, drinks, and merchandise.

Dallas Mavericks owner and DOGE proponent Mark Cuban also reported the basketball team’s store had sold more than 122,000 DOGE worth of merchandise — more than $16,000 at the time of publication — since first accepting the token in March. Cuban said the team “will never sell 1 single Doge ever.”

Though Tesla CEO and DOGE enthusiast Elon Musk has tweeted one of his memes amid the token’s price surge, the recent rally may simply reflect the climate around the crypto market. Mainstream media attention was largely focused on Coinbase’s COIN stock being listed on the Nasdaq this week as both the price of Bitcoin (BTC) and Ether (ETH) reached new all-time highs.

Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://cointelegraph.com/news/doge-passes-uniswap-and-litecoin-to-become-8th-largest-cryptocurrency-by-market-cap

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Two surprising topics are currently more pressing to BlackRock’s institutional clients than Bitcoin

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Two surprising topics are currently more pressing to BlackRock's institutional clients than Bitcoin

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Institutions exhilarated to dabble with cryptocurrencies, but not enough to go all in. The continuous Bitcoin purchases from institutions are enough to place one under the impression that interest rates from these firms have hit the roof, but BlackRock’s Larry Fink finds that to be misleading to a large extent.

His reason being that from his firsthand experience, institutional clients are thrilled about cryptocurrencies, but not interested enough to go all the way through.

Institutions Care More About Climate Change, Inflation

This is not the case for every institution as we’ve seen in the past months, but a fair share of the big dogs are not consciously hunting for the bone. Fink tells CNBC’s SquawkBox that from his pool of clients at Blackrock, where $9 trillion in assets are under management, climate change and inflation are the leading topics that institutions are interested in discussing.

Ironically, these days, with the economical crisis plaguing most part of the world, inflation and cryptocurrencies are often mentioned under the same breath, but with Fink saying “Our broad-based client relationships, we’ve had very little interconnectivity on the conversation on crypto other than a fascination,” that reasoning might be flawed.

Although Fink stands to be corrected, he brings his own analysis to the table nonetheless. “We’re studying it,” he says. “We make money on it, but I’m not here to tell you that we’re seeing broad-based interest by institutions worldwide. Maybe they’re talking to somebody else, so I don’t want to suggest that we have perfect information.” He added.

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These institutions that Fink talks about may fall into the pool of institutions that analysts had previously claimed would not be influenced by their counterparts to buy Bitcoin.

Don’t close the books yet, there’s enough room for change

There are more than a handful of institutions in the United States, and over the past months, only a select few have made their way into the cryptocurrency market. But even though the crypto-market can only boast of the minority, the result of their arrival has been impeccable.

For one, Bitcoin at $64k is in part, a result of institutional accumulation. Tesla, Morgan Stanley and Goldman Sachs have been three of the highest profiled institutions to adopt Bitcoin in some form.

Ruling out the possibility that more institutions will become crypto-fans in the future will be inaccurate, as history has shown that the bigger players’ delayed arrival may be the result of risk management. For some, the stability in Bitcoin’s price could be the most important factor. For others seeing more hands hold could seal the deal. Regardless of what and how long it takes to float their boat, the wait has proven to be worth it time and time again.


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Coinsmart. Beste Bitcoin-Börse in Europa
Source: https://zycrypto.com/two-surprising-topics-are-currently-more-pressing-to-blackrocks-institutional-clients-than-bitcoin/

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