Arthur Hayes, the co-founder & CEO of BitMEX in his recent interview has emphasised on financial privacy to society and why Bitcoin needs it. He argued that, “But I think Bitcoin, right now, is not financially private. Actually, it is very bad because of the nature of blockchain. One of the reasons why lots of financial institutions don’t take Bitcoin or accept Bitcoin is that they can’t cover their ass.”
USA President Donald Trump tweeted that he is not a fan of Bitcoin and other Cryptocurrencies, which are not money, and whose value is highly volatile and based on thin air, adding that Unregulated Crypto Assets can facilitate unlawful behavior, including drug trade and other illegal activity. This caused a fall in bitcoin prices across globe says market analyst & he also criticised Facebook’s Libra digital currency.
Changpeng Zhao, CEO of Malta based Binance, the world’s largest cryptocurrency exchange by volume, has warned that institutional demand for bitcoin may not be driving the latest rally and the already extreme volatility could get even worse. In his statement, “I would say the majority of people by the end of the year will be using margin in some capacity…There will be more trading volume and potentially higher volatility.”
A reverse engineering exponent, Ken Shirriff has reportedly worked out a code that enabled him to mine Bitcoin on one of the first integrated circuit-based computers that were used to navigate the first moon landings by the National Aeronautics and Space Administration (NASA) in the 1960s. It has been estimated that it will take more than a quintillion years (1 with 18 zeros) to mine a single bitcoin block.
A stalwart investor from United States of America, Mark Mobius has made public that if its current bull run continues he would buy bitcoin. In his statement, “At the end of the day, there are many people who do believe in it, and if it continues and grows, then I would probably have to be a buyer and be involved with this.” In past he made uncertain opinion on bItcoin & cryptos for being associated with drugs & other illegal activities.
Deutsche Bank (DB) is planning to layoff about 18,000 jobs and also plans to rein in its fixed-income business and retain a small-scale equity capital markets business. Anthony “Pomp” Pompliano, co-founder of Morgan Creek Digital Assets commented, “Deutsche Bank plans to fire almost 20,000 employees. Bitcoin has no employees to fire. DB is built for the old world. And Bitcoin is built for the new world.”
Grayscale Investments the holder of Grayscale Bitcoin Trust (GBTC) has announced that it has resumed private placement of shares. Its main aim is that value of its shares to reflect the price performance of Bitcoin, less fees and expenses. The company’s director Matthew Beck said, “While it is still very early in Bitcoin’s life cycle as an investable asset, we have identified evidence supporting the notion that it can serve as a hedge in a global liquidity crisis…”
Co-founder of Morgan Creek Digital & an investor, Anthony Pompliano argues that having all your wealth in fiat currencies is a huge risk because it could prove to be a huge loss if the fiat fails or hyper-inflates. He favours diversification & crypto has one of the most secure networks. He also observed the world reserve currency has been controlled by the nation with the biggest military and economic muscle, hence highly centralised.
The self proclaimed Inventor of Bitcoin Craig Wright has claimed that Martti Malmi, an early Bitcoin developer, and Michael Marquardt are the faces behind Silk Road, Hydra, and a number of other darker websites. Taking his claim to next level Wright added Malmi has also started working on a reputation system to allow assassination markets. Meanwhile Malmi have started his plans to take legal actions against Wright.
Minister for Communications and Information Technology of Iran, Javad Azari Jahromi has revealed that the nation is attracting Chinese Bitcoin miners due to the availability of cheap electricity. In his recent visit to China he had discussed their collaborative partnership in developing a strong digital economy & some private mining companies have expressed their interest in setting up the business in Iran.