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PLUS: American Venture Capitalist & Draper Associates Founder Tim Draper explains why bitcoin is the way of the future, and changes his $250,000 bitcoin call. Yahoo Finance's Zack Guzman & Brian Sozzi join in on the conversation, along with GRIT BXNG Co-Founder Bill Zanker.
Mark Karpeles, the disgraced CEO of the infamous Mt. Gox crypto exchange, has unveiled plans to enter the blockchain space in Japan. He was found guilty of tampering with records at Mt. Gox and got a suspended sentence earlier this year, which he's appealing. Yahoo Finance's Adam Shapiro and Julie Hyman discuss with the panel.
Yahoo Finance's Oscar Williams-Grut, Myles Udland, Sibile Marcellus, Kristin Myers discuss the outlook of crypto and what to expect at this year's Consensus Conference.
Grayscale Investments is launching a new national ad campaign that encourages you to buy Bitcoin and drop gold. CEO of Grayscale, Barry Silbert, joins Yahoo Finance to break down the details.
Cryptocurrencies have rallied in recent days with Bitcoin trading above $5,000. Yahoo Finance's Julie Hyman, Adam Shapiro, Dan Roberts and Pras Subramanian discuss.
The government of Bermuda passed the Digital Asset Business Act last fall to regulate fintech and crypto companies, and The Signature Bank of New York became the first bank to offer banking services to fintech companies in Bermuda. The Premier of Bermuda joins Yahoo Finance’s Dan Roberts, Akiko Fujita, and Sibile Marcellus to talk more.
Chris' note: The buildout of the crypto economy is one of the most profitable investment themes we track here at The Daily Cut. And it's one we want to make sure is front and center on your radar.So today, we're passing along an insight from Greg Wilson. Greg works closely with world-renowned crypto expert Teeka Tiwari.As Greg shows below, gold is a good way to diversify your wealth away from stocks. But an even better strategy is to own some gold and some bitcoin. As you'll see, putting even 1% of your wealth in bitcoin can dramatically boost your returns… with limited downside.InvestorPlace - Stock Market News, Stock Advice & Trading TipsSource: Shutterstock When I walked into the conference room, the first thing I saw was a Plinko board.The game operator was offering prizes. And the gimmick worked… So I headed over to the booth.Now, you may know Plinko from the long-running game show The Price Is Right. It's a fan favorite. * 7 Tech Stocks You Should Avoid Now Contestants are given flat chips to drop down the board's maze. You aim for the prize you want, release a chip, and watch it bounce down the slots until it reaches a prize.But this wasn't The Price Is Right. And Bob Barker wasn't bellowing, "Come on down!"Instead, I was at Consensus 2019 in New York. It's the biggest crypto conference of the year. With over 7,500 attendees, 250-plus speakers, and hundreds of sponsors, it brings the crypto industry together.The game operator was Grayscale Investments. It's one of the world's largest crypto asset managers. It has $2.7 billion in assets under management.I won a pair of cool socks. But what really caught my eye was Grayscale's message on the board: "Drop Gold."An ad for Grayscale's "Drop Gold" campaignFrankly, I was a bit taken aback. Gold has been used as money for 5,000 years. And it's a good hedge against the world's fiat currency system collapsing.But today, I'll share why the Plinko board was right - and why you should consider reallocating some of your gold position to bitcoin…Bitcoin Is the FutureAt the Palm Beach Research Group, we recommend holding up to a 5% allocation of precious metals - including gold.If society breaks down, that 5% allocation could end up becoming more valuable than the other 95% of your investment assets.Now, if you're convinced gold is going significantly higher, we don't disagree with you. But we'd also encourage you to set aside part of your gold allocation to bitcoin. And Grayscale agrees…The firm believes gold has maintained its status as scarce, fungible, and recognizable back from the past. But our world is different now. So gold's status as the ultimate store-of-value asset needs to be questioned.Here's Grayscale's reasoning: * Gold is the past… President Nixon dropped the gold standard in the 1970s. Gold is heavy (25.7 pounds for a standard bar). It's not easy to move around - and you have to worry about storage. * Bitcoin is the future… It's electronic, fraud-resistant, and accessible to everyone. It's borderless and secure. And it can be sent around as easily as a text message.You may be thinking Grayscale is just talking its own book. But the numbers back it up, too…Boosting Your PortfolioBitcoin is up about 175% since the start of the year - despite all its volatility. Gold, on the other hand, is up about 18%.More important, allocating even just a small amount of your portfolio to bitcoin can significantly increase your returns.Let's compare a portfolio of 95% stocks and 5% gold to one with 95% stocks and a split of 4% gold and 1% bitcoin, going back to 2014. The starting portfolio value is $100,000.As you can see in the chart below, the portfolio with bitcoin would have made you nearly $20,000 more over the past five years.With these results, it's hard to argue against selling some of your gold and adding some bitcoin.Now, Grayscale recommends its clients add bitcoin exposure through its Grayscale Bitcoin Trust (GBTC). But that's not an ideal solution. Here's why…Better WayIt comes down to one question: Would you pay $10 for a $5 meal?Well, neither would we. And that's the problem with GBTC. It always trades at a premium (often of 100% or more) to its net asset value…Let's say GBTC is trading at $12 with a 100% premium built in. This means buyers are getting only $6 worth of bitcoin for each $12 share. So you're starting off with a 50% loss.No matter how well an asset performs, you won't do well by paying 100% premiums for it.That's why we have a better way: Buy bitcoin (BTC) yourself on an online exchange and learn how to store it in a digital wallet. You'll avoid premiums and essentially be your own bank.If you don't know how to get started, don't worry. We put together a simple, one-page guide.It shows you three exchanges where you can buy bitcoin… four secure digital "wallets" to store your bitcoin… and where you can trade bitcoin for other cryptos.Regards,Greg Wilson Editor, Crypto Income QuarterlyP.S. On Wednesday, September 18, world-renowned cryptocurrency expert Teeka Tiwari is offering a free, weeklong crypto training series. It's available to anyone who registers for his live crypto webinar.During the event, Teeka will reveal a little-known phenomenon that'll boost the entire crypto market in the coming months. And he'll share details about five cryptos he believes will profit most. Teeka will even give away the name of his new No. 1 crypto pick of 2019 live during the webinar. Don't miss out on the chance to become a crypto millionaire… More From InvestorPlace * 2 Toxic Pot Stocks You Should Avoid * 10 Recession-Resistant Services Stocks to Buy * 7 Hot Penny Stocks to Consider Now * 7 Tech Stocks You Should Avoid Now The post Small Allocation to Bitcoin Can Dramatically Boost Portfolio Returns appeared first on InvestorPlace.
Forget bitcoin, blockchain is where the average investor should put their money in, according to Sir John Hargrave , the author of a new book "Blockchain for Everyone."
By now we all know that crypto went on a true bull run last week, when Bitcoin broke above $13,500 for the first time since January 2018. With Bitcoin making up 61.5% of crypto’s total value, it was no surprise that the overall crypto market hit a 12-month high at the same time. Per Coinwatch.com, the total market cap of crypto peaked above $365 billion on June 26; it has since slipped to $316.50 billion. At this writing, BTC is trading at $11,075, and has a market cap of $196.21 billion.To make sense of everything, we’ll take a step back for a longer look. The three-month chart for BCT shows clearly that the coin has been on an upward trend since this past April 1, and equally clearly that this week’s volatility includes the steepest losses during that time.BTC 3-Month Price ChartBut BTC remains at 15-month highs, and the losses in recent days look like classic profit taking. The sharp peaks and valleys are reminiscent of Bitcoin’s chart pattern during the runup and dropdown from November 2017 to April 2018. So, volatility is baked into BTC, but we already knew that. As Forbes Magazine's Caitlin Long reminds us, Bitcoin is designed to present investors with a stable system, rather than stable prices.And this brings us to the second major point in to BTC’s recent price surge: as it rose in price, it attracted more miners as well as more buyers, and in blockchain, more miners means greater security. Bitcoin’s hashrate, the speed at which miners run calculations to open the next block, is at an all-time high. Back to Ms. Long, who points out, “The higher the hash power, the more secure Bitcoin becomes… simply because the cost to amass enough hash power to attack the network far exceeds the gain from doing so.”The gains in BTC’s hashrate have been making a splash in the crypto world, and feeding another important trend: Bitcoin has a distinctly positive news sentiment, as seen by the slant of articles published in the past week. We can turn back to Coinwatch, for a look at Bitcoin’s News Sentiment:BTC News SentimentCoinwatch analyzes the cryptocurrency news channels in real-time, and presents the results. You can see here that in the last week BTC has gotten slightly more than the average number or write-ups, and the tone has been significantly more bullish than usual. The coin has been doing well in the markets, investors are interested in it, and it’s clearly reflected in the news. Which, of course, helps feed more favorable investor sentiment toward BTC.Three main topics are filling the headlines about BTC: the current bull run, the unveiling of Facebook’s (FB) Libra project, and, most recently, the surge in the hashrate. All three factors are pushing BTC to a positive trend: reporting on gains feeds a bullish narrative, reporting on Libra generates interest in cryptocurrency, and reporting on the hashrate and related security issues reassures the public. While there is reporting on BTC’s slips during the week, it’s overshadowed by the positive trends. Widespread Gains in Major CoinsBitcoin is not the only crypto posting gains and positive news sentiment in the past week. Ethereum (ETH), the third-largest coin by market cap, has shown a similar pattern in recent days. ETH is up 110% in the past three months, and at this writing is trading just below $298.ETH 3-Month Price ChartAs with Bitcoin, ETH has a distinctly positive news sentiment. The number of articles featuring the coin is in line with the weekly average, while the tone of those articles is decidedly bullish – at 90%, even more bullish than Bitcoin’s tone. The most recent articles on ETH emphasize that the coin has stabilized at current trading levels, that transaction volumes are high, and that a 52-day bull run is in the realm of possibility.ETH News SentimentThe third major cryptocoin, Ripple (XRP) has also posted gains in the April-May-June period, but not to the same extent as BTC or ETH. Where those coins are up 166% and 110% respectively, Ripple has only gained 27%, and has been in a ranging pattern since mid-May. In the last 7 weeks, XRP has stayed between 37 and 47 cents per coin. Where other cryptos have been showing sharp gains, XRP has simply failed to get traction.XRP 3-Month Price ChartA look at Ripple’s news sentiment shows the effect of this trading pattern on the general outlook toward the coin. Articles on XRP have trended decidedly bearish, far more than the average in the cryptocurrency industry.XRP News SentimentReading the headlines in Ripple-related articles bears this out. Recent press mentions include Ripple Price Analysis: XRP Recovery Could Face Many Hurdles. It’s a tone that we just aren’t seeing in the Bitcoin and Ethereum articles.Ripple’s holding pattern, and recent losses among the smaller altcoins, are less significant to the overall cryptocurrency market than the gains in Bitcoin and Ethereum. With those two coins making up over 71% of the total market cap in crypto, we would expect to see the markets follow their lead, and we do. Again from Coinwatch.com, the total market cap chart bears this out – it closely follows the pattern established by BTC and ETH.3-Month Cryptocurrency Market CapThe general tenor of the crypto markets is optimistic now, despite a drop from last week’s high points. News and investor sentiment remain positive on two the three largest coins, and neither of those shows any sign of the bottom falling out.In our last article on this subject, we quoted investor and fund manager Mike Novogratz, who foresaw – during the recent price run-up – BTC stabilizing between $7,000 and $10,000. He’s a careful prognosticator, however, and he also said, “If I’m wrong on that, I think I’m wrong on the upside.” He appears to have been correct; BTC appears to be stabilizing, at least for now, near $11,000.
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With the dai's dollar-peg "almost at a breaking point," governance token holders are considering whether to raise the "Dai Stability Fee."
Crypto Facilities, which provides futures data to CME, saw its own trading volume jump five-fold after being acquired by Kraken.
Bitcoin's MACD histogram is registering its highest value since January of 2018, which suggests bitcoin's price may have already bottomed out.
TradingView, the U.S.-based provider of financial markets data charts and analysis, has added Huobi's HB10 cryptocurrency index to its platform.
LGO Markets, a new crypto exchange for institutional investors with an unusual approach to custody, will launch spot trading on March 11.