The declining and unsure crypto markets can be viewed via two sets of eyes. The first set is the pessimistic type that believes this is the end of the world as we know it with relation to cryptocurrencies. The second is the set of eyes that have that sparkle of optimism for the prices of most digital assets are at their lowest. This means this is a prime time to buy in and to buy in big on Bitcoin (BTC), Ethereum (ETH), other prominent coins and the obscure tokens just reaching the crypto markets.
One such Venture Capital firm is doing just that: buying in big into cryptocurrencies. This firm is known as Andreesen Horowitz and it has already raised $300 Million for its first crypto-focused fund. The firm has also brought in its first female general partner who is a former US Department of Justice prosecutor. Her name is Katie Haun and she will be leading the new fund.
Ms. Haun is quoted as saying:
“We want to see crypto move on beyond speculation phase and see it solve eventually billions of real-world problems. We may be investing in things that haven’t been invented yet.”
Ms. Haun helped launch the Justice Department’s first government task force for Crypto. She also worked on the high profile crypto case known as the Silk Road. She is also on the board of Directors of Coinbase and has taught Stanford’s Law School’s first-ever course on digital currencies and cybercrime.
Chris Dixon, general partner at Andreessen Horowitz, was optimistic about the cryptocurrency industry. He stated that the firm was taking a long-term and patient approach towards the industry. Mr. Dixon told CNBC that:
“We’ve experienced ups and downs in the cryptocurrency market, and expect there will be many more. There’s potential in the technology, and some of the downturns can be the best investments.”
Via this statement, Mr. Dixon showed that the firm was very bullish about cryptocurrencies in the long term. He added that:
“There are wild fluctuations in the price, and we see that as an opportunity. We’ve been unphased and investing consistently over time.”
Dixon also compared the current crypto atmosphere to that during the smartphone boom of 2009 and 2010. During that period of time, smartphones and their corresponding Apps ‘ruled’ technology. He was also quick to point out that the crypto industry is just getting started; that the industry is still young.
In summary, and as mentioned earlier, the current crypto market decline can be viewed through two sets of eyes. The first being the pessimistic type that believes it is all over. The second set is the optimistic pair of eyes as exemplified by the Andreessen Horowitz firm. We are truly at the beginning of something revolutionary.
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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 Surges After Tesla Bought $1.5 Billion Worth of BTC
The sudden rise of Bitcoin has been connected to the decision taken by the Tesla electric car company to buy $1.5 billion worth of Bitcoin.
The company explained in a filing with the Securities and Exchange Commission (SEC) that it bought Bitcoin to diversify its cash returns and more flexibility.
Musk’s Tweets also impacted Dogecoin’s price
Tesla also added that it will start accepting Bitcoin payments for all its products, although this will be based on a limited basis and applicable laws. If the company concludes and starts accepting cryptocurrency, it will make it the first major car manufacturer to accept Bitcoin payments. The company’s founder and Chief Executive Officer Elon Musk has developed an interest in Bitcoin and cryptocurrencies.
He has been tweeting severally about the viability of the Dogecoin (DOGE), which doesn’t have an important market value attached to it.
ur welcome pic.twitter.com/e2KF57KLxb
— Elon Musk (@elonmusk) February 4, 2021
Few hours after endorsing Dogecoin, the cryptocurrency rose by an impressive 50%. But regulatory authorities are still concerned about the risks in cryptocurrency investments, with several regulatory bodies warning traders and investors they could lose all their money from crypto investments.
But for Tesla, the company decides to diversify its funds and increased its cash returns. However, Tesla also warned investors about the volatility of Bitcoin’s price in its SEC filing. According to the SEC…
XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange
Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //
Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.
Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.
The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.
NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.
NFTs are already being actively traded in markets globally. For…
Wisebitcoin Launches Professional-Grade Crypto Exchange
Infrastructure is developing rapidly in the cryptocurrency industry, but the recent launch of the Wisebitcoin cryptocurrency exchange is nonetheless significant in terms of the immediate value it provides to cryptocurrency users. That’s because the exchange has had a beta version available since 2018 while continuing further developments in stealth mode, and already serves over 1.2 million end users with $6+ billion in 24 hour trading volume at the time of its official launch.
In addition to the large user base and deep liquidity, Wisebitcoin also stands out by offering up to 100x leverage to margin traders, with the ability to open a long or short position in their futures market. In the current bullish environment, leverage is a key way that experienced traders increase their exposure and try to profit from volatility.
For example, if a user opened a long position on ETH on January 2nd at a price of $750, they could have greatly multiplied their profits with even a small amount of leverage such as 5x as ETH reached over $1,100 within 48 hours. A simple unleveraged position would have netted $350 in profit, but a 5x position would have netted $1,750 and a 100x leveraged position would have netted an incredible $35,000 in profits from an initial investment of just $750.
Beyond leverage, Wisebitcoin additionally offers a simple and…