Category Archives: Bitcoin
Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion – Bitcoin News
On May 7, the decentralized finance (defi) startup General Protocols revealed the team has raised over $1 million from investors. The creators of General Protocols have introduced innovative projects on the Bitcoin Cash network such as Anyhedge, and have also participated in helping forward the Bitcoin Cash Node (BCHN) project and Flipstarter.cash.
The BCH community was pleased to hear that a startup dedicated to the Bitcoin Cash blockchain and decentralized finance (defi) has raised $1 million this week. The company called, General Protocols, is behind the Anyhedge project which is a blockchain-enforced synthetic derivatives protocol for Bitcoin Cash (BCH). News.Bitcoin.com reported on the project during the first week of April. According to the teams press release, the latest funding stems from the cryptocurrency trader Marc De Mesel and a variety of other investors. The team is thrilled to get funding to push the startups goals forward in order to deliver defi to the BCH community.
We are delighted that aligned investors are supporting us in our vision to bring defi to Bitcoin Cash, said John Nieri a.k.a. emergent_reasons, President of General Protocols. We are building a team of dedicated supporters of peer to peer electronic cash here at General Protocols.
General Protocols team members helped with the construction of Flipstarter.cash, a noncustodial fundraising platform. Additionally, the startup also volunteered efforts toward the new Bitcoin Cash full node implementation called BCHN. The project Anyhedge aims to be the first defi protocol on any branch of Bitcoin and the platform will launch in cooperation with Cryptophyls new noncustodial exchange, Detoken.
Further two former Bitcoin.com team members Marcel Chuo and Rosco Kalis have joined the General Protocols company. Kalis is well known for his work on the Cashscript protocol in order to create a new generation of smart contracts on the Bitcoin Cash network. Chuo will handle business relationships and his background includes global expansion and coordinating with well known tech firms like HTC. During the investment announcement for $1 million into General Protocols infrastructure, Kalis said he looks forward to working on the blockchain-enforced synthetic derivatives protocol for Bitcoin Cash.
Im excited to be working on Anyhedge with the great team at General Protocols, Kalis explained during the announcement.
What do you think about the $1 million dollar investment into General Protocols? Let us know in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, General Protocols, Anyhedge
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Decentralized Finance Startup Focused on Bitcoin Cash Raises $1 Million for Expansion - Bitcoin News
Bitcoin Revenue in Square’s Cash App Tops Fiat Revenue for First Time in Q1 – CoinDesk
Bitcoin has flippened USD on Squares Cash App, sort of.
As reported in the publicly traded fintech companys first-quarter earnings Wednesday, Cash App brought in $222 million on all its other fiat-powered services in Q1. Meanwhile, revenue from bitcoin was $306 million, the first quarter in which bitcoin revenue surpassed all other revenue on the app.
In the first quarter, Cash App gross profit grew 115% year over year, the shareholder letter reported.
Gross profit on Cash App, however, remains to be found primarily outside of crypto. Of Squares $222 million in non-bitcoin revenue, $178 million of that was profit. The Cash App saw one of its best quarters yet for new users in the first quarter of 2020, across its many different services.
Bitcoin profit through Squares Cash App was $7 million in the first quarter of 2020. It earned $8 million in bitcoin profit through the whole of 2019.
Still, on the revenue side, the year-over-year growth in bitcoin sales was steep.
In a filing with the U.S. Securities and Exchange Commission, the company noted:
Bitcoin revenue for the three months ended March 31, 2020 increased by $240.6 million or 367%, compared to the three months ended March 31, 2019. The increase was due to growth in the number of active bitcoin customers, as well as growth in customer demand.
Total revenue from bitcoin in the first quarter was $306 million, versus $65 million in the first quarter of 2019. Square earned $178 million in bitcoin revenue through the prior quarter, the last of 2019.
Total revenue for Square this quarter was $1.38 billion, roughly 43% over what it earned in the first quarter of last year. Square had $535 million in gross profit for the quarter, but a $105 million net loss.
Square CEO Jack Dorsey described a few of the ways that the Cash App has found growth during the COVID-19 crisis.
For example, by making it easy to do direct deposits into Cash App, the firm saw enormous growth, Dorsey said in Wednesday's earnings call. Direct deposit users were more likely to use more of Cash's other services, such as peer-to-peer payments and bitcoin purchsaes. Further, Square collaborated with companies like Twitch and Spotify so fans could directly support their favorite creatives.
"We have reached a very mainstream influencer audience," Dorsey said. "And because of the simplicity, because of how we handled the stimulus check and because of everything you can do within the app including buying stocks and bitcoin and Cash Card, we think we'll benefit and draft off a lot of trust, a lot of love, for what it offers and what it can do. And word of mouth is definitely our friend here."
Zack Seward contributed reporting.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
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Bitcoin Revenue in Square's Cash App Tops Fiat Revenue for First Time in Q1 - CoinDesk
Bitcoins Gut Check: The Time of Crisis as the Moment of Truth – Cointelegraph
We are at a turning point in history. The coming months will show how institutional investors will react in the medium term to the countless rescue packages in the wake of the coronavirus crisis. One thing is certain: States and central banks have been hard-pressed for solutions. Moreover, it looks like their efforts have been exhausted already at the start. Should investors end up losing faith in the measures taken, the consequences would be far more dramatic than a short-term stock market crash.
No one can foresee today what our future monetary system will look like, but the history of money has been marked sometimes by radical system changes. Todays historical interventions in the free market are unparalleled, especially given their magnitude, and will no doubt in hindsight be seen as the beginning of the end of our current monetary system with its fiat currencies made out of nothing.
Is Bitcoin (BTC) digital gold and a safe haven currency? Yes, now more than ever before.
Bitcoin was created in 2008 in response to the financial crisis, and the present-day chaos on the global financial markets is the first major test of its ability to assert itself as an alternative and a new asset class. However, when liquidity is needed, as it is now, everything is sold, especially risky assets. John Bollinger, the creator of the so-called Bollinger Band, a technical indicator for price developments, rightly noted that in times of crisis, investors will sell whatever they can sell, and only after assets have been turned into cash is an investment made in crisis-proof assets e.g., gold.
In contrast to state-run monetary watchdogs who have been trying to safeguard a continuously functioning market by pumping in avalanches of money (and not just since the coronavirus outbreak), the pricing of Bitcoin is regulated without any intermediary interference and is solely based on supply and demand. There is also a cap to the number of Bitcoins that can be created 21 million and this means that in contrast to traditional fiat currency, no new Bitcoins can be arbitrarily printed.
New Bitcoins are mined in the same way that other commodities are e.g., gold but through a complex and clearly defined process. No one is able to alter the number of newly generated Bitcoins.
It will be a clear advantage for our traditional monetary system to have alternatives to fall back on in the likely event of hyperinflation. Creative instruments, such as helicopter money and similar interventionist measures, are not possible in the same way with Bitcoin, and neither governments, (central) banks nor other institutions are able to manipulate and/or change the parameters of this new decentralized asset class.
Since the hegemonic power of the United States has been also weakening, the topic of reserve currency will at some point be on the table. Already today, it is foreseeable that Bitcoin and other cryptocurrencies will compete with digital currencies issued by state governments.
Is Bitcoin a global digital currency? This might sound like science fiction, but it is actually not that unfounded.
Meanwhile, institutional investors have started to see the attraction of crypto assets. However, in times of crisis, they are often quick to withdraw their capital from risky investments, and Bitcoin is still classified as such by the majority.
Personally, I am convinced that Bitcoin, as well as other digital assets, can only benefit from the current developments and their dramatic long-term consequences.
The views, thoughts and opinions expressed here are the authors alone and do not necessarily reflect or represent the views and opinions of Cointelegraph.
This article was first published in German by the Swiss monthly magazine Schweizer Monat
Marc P. Bernegger founded his first online company in 1999, followed by several tech companies, which he later sold. He got into Bitcoin early in 2012 and has been involved in digital assets ever since. He is a board member at Crypto Finance AG and the Swiss Blockchain Federation, and he is a co-founder of the Crypto Finance Conference in St. Moritz.
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Bitcoins Gut Check: The Time of Crisis as the Moment of Truth - Cointelegraph
Bitcoin in Emerging Markets: The Middle East – Consensus – CoinDesk
In advance of her Crypto Across Emerging Markets panel at Consensus: Distributed, Leigh Cuen is writing a three-part column on how cryptocurrencies are used in the developing world. In this first part of the series, she looks at the Middle East.
It is a truth universally acknowledged by pundits on Crypto Twitter that emerging markets are more likely to see revolutionary bitcoin usage, at least in the near future, than Silicon Valley.
However, the term emerging markets encompasses most of the planet, excluding a handful of wealthy nations. For instance, even if fiat-denominated volumes are dwarfed by Asian whales or U.S. institutions, scrappy crypto traders in Turkey have a disproportionate impact on the global bitcoin economy.
Generally speaking, regions with weak states and educated diasporas see more grassroots adoption. For example, Lebanese entrepreneur Michel Haber said most of the 26 remote workers involved with his web services startup, cNepho Global, now prefer bitcoin paychecks.
Haber has already been paying some developers this way with bitcoin from Beirut's grassroots trading networks for two years. Now that most workers would rather receive bitcoin, he encourages colleagues to get mobile wallets.
This is no longer a fringe outlook.
The Arab Weekly ran a column in April about how the collapsed banking system is destabilizing Lebanon. Protests surrounded the central bank in April, and protests around bank branches even turned deadly. The situation continues to simmer.
The peer-to-peer bitcoin market is very robust because the Lebanese banking system has failed and people have more cash than the banks do, Haber said. Because of coronavirus, you can't really wait at the bank anymore. They're not sure the Lebanese bank will actually give them the money.
This doesnt mean bitcoin will easily replace local currencies, however. As witnessed in Iran, once home to a thriving bitcoin mining industry and retail usage, authorities curtailed usability once mainstream adoption grew.
But rather than stamp out demand for cryptocurrency, crackdowns may merely change its manifestation. Some people now use bitcoin for savings and altcoins for transactional alternatives. Markets in places like Iran and Argentina now see increasing demand for stablecoins.
Likewise, Argentinian crypto exchange founder Federico Ogue, CEO of Buenbit and Buendolar, said many users who are buying cryptocurrency for the first time are attracted to dollar-denominated stablecoins.
More coverage on cryptocurrency in the Middle East:
Stablecoin volatility
In regions with volatile currencies and scant access to dollars, demand for stablecoins is up.
According to a bitcoin trader in Iran, who asked to remain anonymous for safety, plummeting oil prices havent increased local demand for bitcoin. This is partially due to government efforts to promote the local stock market. Yet, as the dollar exchange rate fluctuates and paper bills become scarce, Tether stablecoins (USDT) sell for more than a dollars worth of Iranian rials.
The government is trying to push financial market demands into Tehran stock exchange to avoid increasing demands in currency or gold markets, the anonymous Iranian trader said. Local [crypto] exchanges changed [USDT] rates artificially to get more profit, also demand was so high compared to the low supply of USDT in peer-to-peer exchanges.
The most desirable aspect of the stablecoin isnt any stability mechanism or collateral, its simply the network effects. After all, the reason many of these users turn to cryptocurrency is because they want a global asset, regardless of whether that takes the form of paper bills or software.
CoinDesk senior reporter Leigh Cuen hosts the Crypto Across Emerging Markets panel on May 11 at 7:30 p.m. ET at Consensus: Distributed, CoinDesk's first virtual, free conference. Register here.
Dapps
The Middle East is also one of the few regions where decentralized applications (dapps) that arent focused on gambling are still attracting routine users.
Dmail founder Mohamed Abdou, whose Egyptian team built a privacy-centric email service using Blockstack, said the dapp now has 15,000 active monthly users. As such, Dmail raised a $500,000 seed round in April, an amount which goes much further in Cairo than Silicon Valley.
Users will be able to exchange emails, do text chat, voice calls, video calls, invoices and collect fees in crypto, Abdou said of Dmails 2020 roadmap. Although Dmail doesnt collect user information (and therefore doesnt know where users are based), this Egyptian project was inspired by a local context where remittances and international payments offer a lifeline to an economy battered by depleted foreign currency reserves.
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
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Bitcoin in Emerging Markets: The Middle East - Consensus - CoinDesk
Coinshares Acquires Gabi Trading: New Unit Traded $3 Billion Worth of Crypto in 2019 | News – Bitcoin News
Coinshares on Thursday launched its trading business, Coinshares Capital Markets (CSCM), reporting that the unit traded over $3 billion worth of cryptocurrency in 2019 and $1.5 billion during the first quarter of 2020.
The UK digital asset manager is basically rebranding Gabi Trading, a business that it is in the final stages of acquiring, according to a press statement.
CSCM runs a portfolio of trade tools that includes electronic trading, liquidity provisioning, and lending and borrowing. It also provides bespoke hedging and risk management solutions for BTC miners, exchanges, brokers, and crypto funds.
Coinshares Capital Markets has been an active proprietary trading arm of Global Advisors Group. The business will now open its services to relevant counterparties, as part of the rebrand.
These initiatives are part of Coinshares mission to provide clients with a sophisticated, fit-for-purpose suite of products and services designed specifically for digital assets, said the firm.
This acquisition is part of a larger strategic realignment under the firms new leadership comprised of chief executive officer, Jean-Marie Mognetti; chief strategy officer, Meltem Demirors; and chief revenue officer, Frank Spiteri, it added.
In November 2019, Coinshares moved to increase its American presence by acquiring a broker-dealer license from the U.S. Financial Industry Regulatory Authority.
It got the license through the acquisition of broker dealer registered under Group Capital which then underwent a name change to Coinshares Capital.
CSCM has a historical relationship with Coinshares, having supported the firms passive products and family of funds.
The unit has also previously deployed proprietary trading strategies for the six-year-old digital assets management company which has offices in Jersey, London, Stockholm, and New York.
What do you think about Coinshares new acquisition? Let us know in the comments section below.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
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Coinshares Acquires Gabi Trading: New Unit Traded $3 Billion Worth of Crypto in 2019 | News - Bitcoin News
Analyst Tone Vays Predicts 12-Month Bitcoin (BTC) Trajectory, Says Three Factors Will Drive People Into Crypto – The Daily Hodl
Crypto analyst Tone Vays is laying out his predictions for the global economy and Bitcoin in the year ahead.
In a new ask-me-anything hosted by ChainTalk, Vays says governments will take wide-ranging actions to mitigate the damage to economic growth triggered by the coronavirus. He believes lawmakers will raise taxes to make up for lost revenue from businesses that have to close their doors.
In addition, he thinks countries may be forced to stop using the euro as their national currency or decide to abandon it on their own. Vays also expects governments to tighten their grip on the movement of money, as Australias central bank did last year to combat capital flight and rising inflation.
All of this will drive people into Bitcoin. And the halving is coming in a few weeks so once Bitcoins daily supply to the miners gets cut in half, there will be a lot less selling pressure.
In the year ahead, Vays expects an increasing number of investors to view Bitcoin as an alternative, uncorrelated asset that can act as a hedge on the global economy. As for 2020, Vays is bullish, but warns the stock market may limit how far Bitcoins price can move.
I believe that the worst for Bitcoin is over. As for the stock market, Im not so sure. I believe over the 12 months people will start to consider Bitcoin a safe-haven asset that could also bring them a better return
I can see Bitcoin rising to as high as $8,500-9,000 on this run up over the next month or two, after that I think it will pull back down but I dont see Bitcoin falling under $5,000 again. If the economy continues to be poor, Bitcoin will probably not go up much because people will just not risk the money they have left on Bitcoin. As for end of 2020, I think Bitcoin will be around $10,000.
Featured Image: Shutterstock/Tithi Luadthong
Bitcoin Price Analysis: BTC/USD paces above $7,800, the focus shifts to $9,000 – FXStreet
Bitcoin price remained relatively stable over the weekend sustaining last weeks accrued gains above $7,500. However, the bullish action rapidly extended upwards with $8,000 in the sight glass but hit a wall at $7,805 (intraday high). Meanwhile, Bitcoin is trading at $7,704 (close to its opening value at $7,704.33. The prevailing trend is bullish while the shrinking volatility suggests that downward movements will not be rapid in the current and coming sessions of the day.
From a technical perspective, Bitcoin is ready for another lift-off above the critical $8,000. It appears that the recent break above the 50-day SMA has been vital to the recovery experienced since BTC/USD surged above $7,000 last week. The MACD displays a positive and strong bullish picture especially with the bullish divergence within the region above the mean line.
It is also important that the bearish pennant pattern resistance and the hurdle at the 200-day SMA are overcome for the much-anticipated gains towards $9,000. As Bitcoin halving draws nigh, volatility is expected to increase due to the speculation among investors. Most investors expect Bitcoin price to rally pre and post halving, with some predicting gains in the excess of $80,000 per BTC by 2022. In the meantime, in the event Bitcoin price reverses the trend, support is expected at $7,700, $7,500, and $7,200.
Read more:Cryptocurrency Market Update: Bitcoin mooning to $5 million in just 5 years
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Bitcoin Price Analysis: BTC/USD paces above $7,800, the focus shifts to $9,000 - FXStreet
Bitcoin Hits April High; Crypto Portfolios Get Stimulus Injection – Forbes
Get Forbes' top crypto and blockchain storiesdelivered to your inboxevery week for the latest news on bitcoin, other major cryptocurrencies and enterprise blockchain adoption.
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Bitcoin surged to its highest level in more than a month Thursday morning, with market analysts optimistic that its bull run will continue. Futures contracts are trading at a premium compared with spot prices, generally a sign of near-term upside, and prices have doubled since their low point in early March. Other cryptocurrencies enjoyed slight gains late in the week as well.
Source: Messari. Prices as of 4:00 p.m. on April 24, 2020
The Peoples Bank of China released a list of companies that will be test sites for its national digital currency in the near future, and it includes some familiar names. Starbucks SBUX , McDonalds MCD and Subway locations in three large cities will begin offering payment via the digital currency, though its launch date has yet to be determined. Digital payment is already ubiquitous in China with Alibaba BABA s AliPay, and since most of its citizens have bank accounts and smartphones, adoption of a national digital currency could be seamless.
Nigeria-based app Bundle launched this Thursday, aiming to get more people in Africa to exchange money using cryptocurrencies. Funded by Binance, the payments app is similar to Venmo and will allow users to send, receive and spend bitcoin, ether and the Nigerian naira with little more than the recipients phone number. Founder Yele Bademosi dropped out of medical school to try to make global finance more accessible in Africa, where he estimates only 1.4 million of the 1.2 billion people living there already use crypto.
Although most Americans are using their $1,200 stimulus checks from the government on essential expenses like bills, essentials and emergency savings, data from Coinbase shows that some are investing their entire check in bitcoin and other cryptocurrencies. Coinbase CEO Brian Armstrong tweeted that the number of deposits of exactly $1,200 more than tripled on the exchange since the IRS began distributing the cash last week, and CoinDesk reported that Binance was showing similar data.
If stimulus check recipients had invested their $250 stipend during the last recession in 2009 in bitcoin when the cryptocurrency was still in its infancy and almost worthless, that investment would be worth hundreds of millions now. They can only hope that this investment is a fraction as successful.
Markets crashed in March as individuals and institutions scrambled to liquidate their assets, and that often included their cryptocurrency portfolios as prices sharply tumbled. Now, with the Federal Reserve taking drastic measures to revive the economy, stablecoins like Tether the dollar-backed USDC have seen an uptick in volume.
The next few weeks will be pivotal for bitcoin leading up to its halving scheduled for May 12. Bitcoins price rose significantly in the 12 months following its previous halvings, which occur once every four years, though its counterpart litecoin is down 70% since its halving last year after a frenzied run-up leading up to the event.
How a Crypto Guru Shaped Harvards Roadmap for Reopening the US Economy [CoinDesk]
The pandemic was bitcoins chance to shine. It hasnt yet [Wired]
Bitcoin maven Toni Lane Casserly, Joan of Arc of blockchain, dead at 29 [New York Post]
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Bitcoin Hits April High; Crypto Portfolios Get Stimulus Injection - Forbes
Ethereum Price Analysis: ETH is ten times more profitable than Bitcoin in 2020 – FXStreet
Since the start of the year, Ethereum investors earned nearly ten times more than Bitcoin hodlers. The second-largest digital asset has gained over 55% in 2020, while Bitcoin is only 6% higher from the first of January 2020. ETH/USD has grown by 4% since the start of the day and become the best-performing crypto asset out of top-10.
At the time of writing, ETH/USD is changing hands at $196.00. It is moving within a short-term bullish trend amid high volatility.
According to the Wale Alert Twitter bot, large cryptocurrency investors known as whales moved over 1.2 million ETH coins in eight transactions worth $241,774,447 in the recent 20 hours. The fee for each transaction did not exceed $1, and all of them were made from unknown wallets to other unknown wallets.
Such whale activity may be a precursor of large market movements.
ETH/USD settled above daily SMA100 (currently at $186.00) and continued gaining ground. Now that psychological $190.00 turned from a resistance to support level, ETH has a chance to retest $200.00 in the nearest sessions. If this critical barrier is broken, the buying pressure will increase with the next upside target as high as SMA200 at $248.00 and $250.00.
On the downside, a sustainable below daily SMA100 will negate the immediate bullish scenario and bring $180.00 back into focus. The critical support is created by the upside trend line from March 13 low (now at $175.00). The long-term recovery remains valid as long as the price stays above this trendline.
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Ethereum Price Analysis: ETH is ten times more profitable than Bitcoin in 2020 - FXStreet
The Coronavirus May Have Actually Helped Bitcoin – Live Bitcoin News
No doubt bitcoin has gone through a rough couple of months this year, but then again, so has every asset.
It seems like everywhere you look whether its Asia, America, Europe, etc. people are dealing with the circumstances surrounding COVID-19. The virus has done harsh damage to the global economy, resulting in several assets and markets falling by thousands of dollars since early March.
However, some analysts believe this wont be bad for bitcoin in the long run. That the situation is likely to present a positive outcome for the worlds number one cryptocurrency by market cap.
Brandon Mintz CEO of the bitcoin ATM provider Bitcoin Depot explained that right now, despite some recent surges, bitcoin is still stagnant compared to where it was in mid-February. The analysis makes sense, in a way. Yes, bitcoin has spiked beyond $7,500 at press time, but it was trading for well over $10,000 two months ago, so if BTC is going to make any serious impression, its still got room to improve itself.
However, Mintz is confident that bitcoin will do so, explaining:
While the price per coin may stagnate during a period of aggressive economic deflation, the inherent buying power of the currency will actually rise, possibly quite significantly.
Monday was harsh for many assets considering the oil market found itself tanking hard. Its unclear how a simple expiring futures contract in oil could do so much damage, but following the drop, stocks also saw themselves taking a tumble, while bitcoin and other major cryptocurrencies also fell.
Holger Zschaepitz a macro analyst tweeted:
The oil price rout will send a deflationary wave through the global economy.
These words, however, may have been uttered too early. After all, at the time bitcoin was trading for about $6,700, but it has since spiked significantly to reach a whopping $7,500 in just a few days. Stocks have also recovered, and oil itself, while not where it was before Mondays slip, has risen by more than 40 percent, and is now trading for more than $17 per barrel.
Still, some believe cash is likely to reign supreme for the next few months given the uncertainty of the entire economy. Erick Pinos ecosystem leader for the Americas at Ontology explained in an interview:
Unlike inflation, when people try to get out of the dollar because its losing value, during deflation people are more comfortable with the dollar because its value is going up.
Marcus Swanepoel chief executive of Luno still has high hopes for bitcoin, explaining:
Over the last five years, bitcoin has consistently outperformed most other major asset classes, so it is highly likely this trend will continue, especially with the increased fragility of the existing financial system weve seen over the past few months.
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The Coronavirus May Have Actually Helped Bitcoin - Live Bitcoin News