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Here is How Central Banks will End Up HODLing Bitcoin (BTC) Like they Hold Gold

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Many central banks across the globe hold gold. As a matter of fact, most of the gold is locked up in government vaults all around the world. These governments hold gold as one of their reserve assets to hedge against periods of market unrest and for periods when they need to liquidate their assets quickly. Nothing moves faster in the markets than gold. But its liquidity is being threatened by another form of gold that is known as Bitcoin (BTC).

Yes. Bitcoin has often been referred to as the digital gold of the 21st century. Reason being that it is in constant demand and it embraces the most revolutionary technologies of cryptography and blockchain technology. One can claim that it is all hype and mania, but the current Bitcoin rush can be compared to the Gold rush that led many Americans to look West to California in the 1800s. The current price predictions of BTC are as high as $500k by 2024.

So, could central Banks end up HODLing Bitcoin (BTC) as part of their national reserves?

On an honest note, it would not be a surprise if we found some of the prominent governments holding some of their assets in Bitcoin. Sure, they would not admit it. But any shrewd investor who sees the potential in BTC would want to grab some before its price goes up to the Moon. This is primarily due to the fact that we already know that the amount of BTC to be minted is 21 Million. This means it is finite.

Over 80% of the total of 21 Million BTC in Satoshi’s whitepaper has already been mined. Utilizing the common economics theory of supply and demand, as BTC becomes more popular, so will its price. Therefore, individuals and governments will be looking to stockpile the digital asset. The last BTC is calculated as being mined in 2145 so there is a lot of time for its price to continue to skyrocket. BTC is indeed digital gold.

Similar sentiments of BTC replacing Gold have been expressed by billionaire investor Bill Miller who was quoted as saying:

“If it becomes much more valuable its then likely that various central banks begin to think of it as another potential asset just like they hold gold. That would open up the market extremely significantly.”

Miller, who has put in about 1% of his liquid net worth on Bitcoin, thinks of the digital asset as a non-correlated asset that can be compared to gold. He noted that BTC is easily more transportable than gold and can actually be used to buy things. This observation by Miller adds to the earlier mentioned liquidity that central banks look for in an asset. BTC can be easily sold by central banks on any of the numerous exchanges during times of need.

In conclusion, the value of BTC will most definitely go up since we all know that it is finite at 21 Million BTC to be minted. With its value going up and liquidity being as simple as typing in a BTC address and sending, more and more central banks will consider the digital asset as part of its reserve assets.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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Bitcoin

Is Bex500 an alternative to BitMEX?

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An all around review of Bex500

Bex500 is a young but rapid-growing exchange, less adversarial than BitMEX, but with higher leverage than Binance, Bex500 has enough strings to attract many crypto traders. 

Those dissatisfied with the old exchange, may find Bex500 exchange with a stable system with no manipulation or “overload”, pleasant UX, user-friendly tool kits, and around-clock customer service.

Bex500 says they are making crypto margin trading “easier” and giving you a better return. 

Can they really achieve that? We conduct a comprehensive review as below to see if it is a trustworthy exchange

Question 1. What features does Bex500 have?

Bex500 offers perpetual BTC futures as well as three other cryptos including ETH, XRP and LTC, all paired against USDT. You may find Bex500 doing a good job aggregating most important features traders need for a robust trading experience with better return.

-A fair trade with no overload

Many traders are familiar with “overload” problem, which disables placing orders in peak trading times. It is suspected to be insider manipulations by exchanges which can cost users entire portfolios.

Bex500, with its unmatched TPS (claimed to be over 10,000 orders per second), ensures that the trading…

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How Bitcoin Has Changed Online Gaming

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We always hear how Bitcoin is great for the financial industry, how it can remove the middleman and help you save money while you spend money. How it can provide fast transactions at any time to any place, even when you wish to send money to someone on the other side of the world.

While all of that is true, it is important to remember that Bitcoin’s impact does not end there. The coin has already changed countless other industries, but one of the first ones that have accepted it with open arms — and therefore one that was changed the most — is the online gaming industry.

Bitcoin’s impact on online gaming

The first thing to note here is that digital currencies have found their use in online gaming thanks to microtransactions. However, it goes far beyond simply purchasing an in-game item from another player. Bitcoin’s biggest impact, without a doubt, concerns online gambling, sports betting, and similar activities.

Bitcoin brings security and anonymity

Bitcoin casino has become one of the new most popular places for an online gambler to visit, and for numerous reasons. Bitcoin brought increased security — to the financial industry, as well as online games. This is important because security is crucial for anyone who enjoys online gambling. It…

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The Crucial Role of Cryptocurrencies & Blockchain in Modernising The Telco Industry

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Blockchain has caused quite a stir in recent years. In fact, there’s a school of thought that firmly believes the digital ledger technology will prove to be the 21st Century’s biggest innovation

There are a great many industries braced for the disruptive force of blockchain, and the sweeping benefits it can bring to telecommunications can’t be underestimated. 

A blockchain is a decentralised, distributed, public digital ledger that’s fundamentally used to record transactions online. Every transaction that takes place is recorded across an extensive array of computers in a way that ensures that any individual record within the chain can’t be tampered with or retroactively modified. 

Because of the virtually impregnable security associated with blockchain and the efficiency that comes with a fully decentralised ledger, there’s plenty of potential for the technology within the telco industry in particular – especially given the financial flexibility that comes with cryptocurrency transactions beyond borders. 

Let’s take a deeper look at the important role that both blockchain and its associated cryptocurrencies can play in modernising and securing the telco industry:

Unprecedented security

The arrival of blockchain is causing a stir at Deloitte. The professional services giant has contributed tens of thousands of words on blockchain within its ‘insights’ network, and there are…

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