SkyBridge Capital founder Anthony Scaramucci predicts a surge in demand for Bitcoin (BTC) in the coming years. Wealth Transfer and Young Investors Scaramucci believes the $84 trillion wealth transfer from baby boomers to younger generations will drive demand for Bitcoin. He notes that younger investors already hold significant amounts of BTC, while older investors have…
A recent report has identified 282 US banks with a combined $900 billion in assets that are facing a “toxic combination” that could lead to their collapse. Risk Factors According to the Klaros Group, these banks have: High exposure to commercial real estate loans Significant unrealized losses on their balance sheets Names Kept Secret Klaros…
Cash Restrictions The European Union (EU) is cracking down on anonymous cash transactions. Cash payments over €10,000 and anonymous cash payments over €3,000 will be banned. Crypto Restrictions Crypto payments to hosted wallets will also be banned, regardless of the amount. Anti-Money Laundering Authority The EU will establish the Anti-Money Laundering Authority (AMLA) to oversee…
Shibarium, the layer-2 solution for Shiba Inu, has hit a new all-time high in locked value, reaching over $3.67 million. TVL Surges to New Milestone Shibarium’s total value locked (TVL) has skyrocketed from $1.43 million on March 22 to $3.67 million at the time of writing. This surge is attributed to the launch of the…
ETF Buyers Buck Sell-Off Trend According to Bloomberg ETF expert Eric Balchunas, ETF investors are the “strong hands” currently buying up Bitcoin (BTC) during the recent sell-off. Despite outflows from Grayscale’s ETF, Balchunas notes that these are primarily from a single entity, Genesis, converting ETF shares into spot Bitcoin. ETF Investors Driving Inflows Overall, ETF…
Top trader DonAlt has issued a warning to Bitcoin (BTC) investors, stating that the monthly chart is on the verge of signaling a bearish trend. Monthly Close Critical According to DonAlt, Bitcoin needs to close the month above $56,000 to avoid a “catastrophic” sell signal. If the monthly close falls below this level, it could…
Crypto analyst Jamie Coutts predicts that cryptocurrencies will significantly outperform gold in the coming years. Gold’s Underperformance Coutts believes that gold will not match the expected 2-3x increase in market capitalization that crypto is expected to experience in this market cycle. He attributes this to the emergence of crypto as a “new asset class.” Comparison…
Economic Factors Driving Growth Veteran investor Luke Gromen believes Bitcoin (BTC) is poised for growth over the next year due to favorable macroeconomic conditions. He cites the US government’s massive debt of nearly $35 trillion as a key factor. Gromen argues that the Fed cannot prevent inflation from rising, which will push investors towards assets…
Last week was tough for Bitcoin ETFs, with daily outflows signaling a possible shift in sentiment among institutional investors. This has impacted Bitcoin’s price, which fell to $61,370 during the week. Sustained Outflows Earlier this year, investor interest in Bitcoin ETFs soared, pushing Bitcoin’s price to an all-time high. However, these ETFs have now set…
Bullish Predictions Cathie Wood, CEO of Ark Invest, remains optimistic about Bitcoin’s future. She recently predicted that the cryptocurrency could reach $1.5 million by 2030, surpassing her previous estimate of $3.8 million. Emerging Market Adoption Wood believes that Bitcoin’s adoption in emerging markets, such as Nigeria, is a major driver of its growth. She cites…
