Crypto News Today – Cathie Wood predicts Bitcoin to $1 million by 2030.
Ark Investment’s Cathie Wood says Bitcoin ($BTC) will hit $1 million by the year 2030.
Cryptocurrency had a rocky 2022 but Cathie Wood say it was primarily due to centralized institutions.
“Last year was a terrible year for everything crypto, but if you think about what happened, it was the centralized opaque players who went bankrupt. FTX, Celsius, 3-Hours Capital, and what did we see from Bitcoin? Bitcoin is completely decentralized and transparent. It started because of 08′-09′, the lack of transparency in the traditional financial services ecosystem.
“This is a rules based digital monetary system and its global. And there’s no human intervention. It’s very disciplined, it’s mathematically metered to top out at 21 million units.”
“We’re seeing riots and protests all over the place. Where do these people go for an insurance policy against an implosion in their purchasing power and wealth. It is in something like Bitcoin. Bitcoin is an insurance policy,” said Cathie Wood.
Bitcoin has revolutionized the way we think about money and how we invest it. Kevin O’ Leary himself thinks Bitcoin will beat the S&P500, which earns on average 7-10% annually by an additional 4%.
I frequently get asked what I think about Bitcoin. In all honesty this could be a great place to park some of your money for the remaining of the decade. And I’ll explain why later but first lets go over how to invest in Bitcoin.
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Is Bitcoin the future?
Let’s face it, anything digital is the future.
The way I look at Bitcoin is that it is gold in digital form.
Why?
Because there’s a limited amount of it and there’s a huge demand for it.
I don’t necessarily view Bitcoin as a means of currency to be used for transacting in the markets.
Bitcoin to me is a means of multiplying your money like any other investment.
The difference with Bitcoin however is that nothing has quite grown like it.
This is what makes this investment, or trade so attractive.
Will Bitcoin go back up?
BTC is showing major signs of a recovery.
Investors should not worry about the selloffs that recently took place.
Hedge funds and other institutions shorting companies at the moment are in hot waters and are in desperate need of capital.
View this market dip as an opportunity to buy at a discount.
The crypto market is undergoing a correction and will reach new levels growth with each passing day.
BTC is recovering quite well.
All the markets are volatile at the moment, long-term investing takes time.
Where can I buy Bitcoin?
Alright community, this is why you’re here.
Before you begin your very first investment in BTC you’ll need to open a brokerage account with a cryptocurrency investment platform.
Market News | Crypto News: Should You Take Your Money out of Crypto?
Crypto is collapsing and it’s been a very tough year for cryptocurrency holders as exchanges face the possibility of bankruptcy.
BlockFi is preparing for potential bankruptcy after halting withdrawals of customer deposits and acknowledging it has significant exposure to the now bankrupt exchange FTX, per the WSJ.
BlockFi paused withdrawals and limited activity on its platform last week, saying it couldn’t operate business as usual given the uncertainty surrounding FTX.
The exchange is now planning to lay off workers as the troubled firm prepares for a possible chapter 11 bankruptcy, said people familiar with the matter.
The Coinbase Pro cryptocurrency platform is also shutting down for good, per NerdWallet.
And a Hong Kong-based AAX crypto exchange is suspending all of its operations, per Watcher. Guru.
Crypto has had its ups and downs, but what’s occurring today seems like it’s going to have a longer effect on investors.
Should investors take their money out of crypto now?
Now venture capitalists who invested in FTX are considering suing Sam Bankman-Fried for alleged fraud.
Confidence in the crypto space has fallen amidst the collapse of these exchanges.
The worst part is the number of investors who have been caught up in this mess.
According to the Washington Examiner, celebrities such as Tom Brady have lost most if not all of their investment in FTX.
Other athletes include Stephen Curry who had also signed previous agreements with FTX to promote the company.
Now Bitcoin Magazine and Unusual Whales are saying to get your money out of Bitcoin and crypto exchanges, signaling that matters could get worse before they get better.
The current crypto crash we’re seeing today has been the result of centralized financial errors, according to CoinDesk.
“The meltdown of Sam Bankman-Fried’s crypto trading empire could not, and would not, have happened to a decentralized and transparent protocol”, says the Amanda Cassatt.
JP Morgan has also identified centralized players as the root cause of recent crypto collapses.
Will cryptocurrencies go back up?
With time and with investor confidence, the crypto market will eventually recuperate.
Should investors take their money out today?
This is going to depend on the individual’s need for liquidity.
With an economy that is currently fighting inflation, and unemployment rates rising, having capital at hand might just prove to be useful as today’s uncertainty only becomes more uncertain.
But I’d love to hear your thoughts on this.
Let’s start a discussion, leave your thoughts below.
Bitcoin vs Ripple – Difference between Bitcoin and Ripple (XRP)
Published by FrankNez team.
Before diving deep into the possible differences between Bitcoin and Ripple, we want to make sure that you get familiar with the concept of cryptocurrencies.
A cryptocurrency is a digital currency asset that works on a decentralized transaction model most of the time.
Today, the concept of crypto-based assets is skyrocketing, giving a solid hint that this is the future of global transactions.
Ripple: A brief note
The whole concept behind the launch of Ripple and its current working model is quite different from the rest of such platforms and units.
The main goal of Ripple is to improve the current banking channels.
This is done by unifying and streamlining them under the Ripple umbrella.
To promote this concept, Ripple also launched its very own crypto coin, the XRP.
According to global statistics, XRP is easily included in one of the top crypto assets and coins.
This is because of the fast transaction model of the XRP and the already financial streamlining dynamics of the Ripple platform.
Bitcoin: A brief note
You don’t need to be a crypto enthusiast to be aware of Bitcoin.
The hype for cryptocurrencies started back when Bitcoin hit some solid figures.
That’s when most experts started to believe that digital assets and currencies are the future.
Bitcoin is a completely decentralized currency.
In other words, there is no bank or a certain administrator that controls Bitcoin.
The user is the main authority within Bitcoin-based transactions.
You can send bitcoin to any user around the globe in an instant without any facilitating party in between.
It’s safe and secure through local exchanges as the currency adaption is being widespread.
Ripple vs. Bitcoin: The best option
Regarding usability and global access models, both Bitcoin and XRP are different.
Bitcoin is decentralized, with the main focus on the user transaction models. If we take a look at the transaction timeline of Bitcoin alone, it takes several minutes the processing.
On the other hand, XRP is a crypto coin of the Ripple platform.
Being a sole transaction facilitating platform, you can process a transaction through the Ripple channel in seconds.
This also includes large-scale transactions, which usually require days to process through regular banking channels.
What does the future hold?
The future of crypto-based models is very bright, and all the experts have a consensus on this.
Countries like UAE showing interest in the domain and opening their doors for trading is a clear symbol.
But the future is quite specific based on the models of Bitcoin and Ripple.
Bitcoin is a cryptocurrency.
It will always remain in the limelight for its huge market cap and fascinating story of being the crypto coin that started the era of crypto.
On the other hand, Ripple is more goal-oriented.
The platform is progressing to increase the TPS rates even for large-scale transactions.
Making the right investment
The investment you will be making depends upon you.
One is a cryptocurrency, and the other is a blockchain-based financial transactions model.
Whichever suits you to invest in will be the best one in your interest in the long term.
But before investing, there are two factors you need to keep in mind—first, the possible market cap of the digital assets.
And second, the plans that are outlined for the asset.
If you are clear in these two domains regarding a specific asset, you are good to go and invest in it.
Final Note
Bitcoin changed the world, and Ripple is changing the world.
We think that’s the best way of describing the always ongoing comparison of Bitcoin and Ripple.
Welcome to Franknez.com – if you’re part of my Patreon group you know how much I love Bitcoin. BTC and AMC are my biggest plays right now.
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If you thought it was too late to get into Bitcoin, you’re not alone. I was in the same boat before I put my first $100 in the cryptocurrency. Now, $100 is not much to invest in but I was testing the crypto market to see whether it be something I could invest in long term.
So, I decided to purchase my first fractions of Bitcoin using the exchange known as Kraken. I bought in when BTC was around $60K per coin and then it plummeted to about $29K. Good thing I only put $100.
But here’s what happened next. I did a little more research and stumbled across the information that Bitcoin’s demand can easily send it to 6-figures per coin. I was sold and have put 4-figures in this vehicle around $32K. BTC has now risen close to $50K. Once BTC reaches $64K, I would have doubled my money.
Experts are extremely bullish on Bitcoin. It’s a matter of supply and demand, similar to what we’re seeing with AMC Entertainment stock.
Bitcoin is a different monster though, with all respect.
Why Is Bitcoin Going Up?
Bitcoin price is going up mainly due to supply and demand in the markets. Institutions and retail investors alike continue to buy the limited cryptocurrency.
CNBC asked Chamath, an early Facebook investor and venture capitalist, how high he thinks Bitcoin will continue to soar earlier this year.
Listen to Chamath’s response below.
Chamath Bitcoin Price CNBC
“Where is it going? It’s probably going to 100, then 150, then 200 thousand”. Chamath was one of the first people to invest in Bitcoin a decade ago.
He’s worth more than $1 billion today and is the founder and CEO of Social Capital, an organization of investors focused on creating more opportunity globally.
How Much Was Bitcoin Worth When It First Started?
Bitcoin price started trading at approximately $0.08 per coin back in July of 2010 but was worth even less during inception.
Here’s how much money you would have today if you invested in Bitcoin when it first started:
$100 in BTC would = $61 Million today
$500 in BTC would = $308 Million today
$1,000 in BTC would = $617 Million today
But don’t beat yourself up for it. The important thing that matters today is that now you know just how much further Bitcoin price can reach.
It’s what you do today that matters.
Is Bitcoin Overvalued?
Most experts don’t think so. In a panel by Finder, 76% of respondants thought Bitcoin was not overvalued with only 24% saying it was.
I think most people are intrigued with what’s happening with Bitcoin today. FOMO (fear of missing out) is causing new investors to buy Bitcoin.
Because Bitcoin is limited, the cryptocurrency has a high demand. And it’s especially attractive when you compare gains from parking money in Bitcoin then the gains from a money market account.
Bitcoin could be a great vehicle to put some money in while its value continues to surge. One thing is certain and that is your bank will never give you these returns.
Multiply the number of BTC each company holds by Bitcoin’s current price and you’ll be astonished by the amount of money that translates to.
The price of Bitcoin as of this publication is around $49.8K per coin. We’re so close to reaching $50K.
Should You Buy Bitcoin?
There’s no question about it. Bitcoin is correcting itself back to $60K per coin and with analysts prediction bitcoin to $100,000 and beyond, why wouldn’t you?
At first, I was hesitant about Bitcoin. I thought it was too late to buy it, I didn’t know you could buy fractions of it, and to be honest I didn’t even know how to buy it.
Are you invested in other cryptocurrency besides Bitcoin? If so, let me know in the comment section below what that crypto is. Or, is this your first time getting into Bitcoin? I’d love to know.
Bitcoin is currently trading around $40K give or take. Have you been thinking about adding to your position or buying Bitcoin for the first time? This article is going to help you make the best decision for yourself. Should you buy Bitcoin now or wait for another dip?
Welcome to Franknez.com – the blog where you can digest content on personal finance, side hustle ideas, entrepreneurship, and trending investing topics.
Lets get started!
Bitcoin (BTC) is probably one of the coolest investment vehicles of our time. This cryptocurrency was as low as $2 at some point; can you believe that? Insanity.
I didn’t get into BTC earlier because like most people, I thought it was too late to invest in it. However, when I found out you could buy fractions of this asset and discovered just how high it could go, my mind was changed.
Will Bitcoin go back up?
If you’ve been following BTC for quite some time now, then you’re no stranger to what just occurred a few weeks back.
Bitcoin took a staggering plunge from $60K down to $30K. If you’re an earlier investor this is just a bump in the road. But if you just opened a position in BTC, then you’re down quite a bit to say the least.
Now, because Bitcoin is deflationary, the value of this asset will continue to skyrocket as long as there is a demand for it.
There is a total of 21 million gill in the crypto market for Bitcoin. This is why the cryptocurrency is so valuable. Unlike Dogecoin, BTC is limited.
And when there’s a low supply (scarcity) with a large demand, the value of an asset goes up. It’s simply the way the world works.
Will Bitcoin reach 100K?
Bitcoin going to $100k, then $150k, then $200k: Chamath
In this clip, CNBC’s host asks former Facebook executive, Chamath where Bitcoin is going next. Chamath correctly predicted the rise of Bitcoin since it’s inception. “Bitcoin is going to $100k, then $150k, then $200k”, he says.
This type of news is quite incredible. BTC is currently trading in the low to mid $30K range. If Bitcoin is to run up that high then parking your money in this investment could prove to be quite a great long term move.
You don’t need to be a financial advisor to identify opportunities and recommend them to people. Allocating money here could outperform index funds and most stock investments.
When will BTC reach 100K?
No one can say for sure. But the data shows it’s absolutely possible. What analysts do know is that the chances of it happening this decade are high.
No index fund, REIT, or stock will yield the return Bitcoin can and has yielded. Investing in BTC could be a strategized trade, or a long term multiplier.
The fact that Chamath believes the price of Bitcoin can even reach $200k+ is mind boggling. Bitcoin is my choice of cryptocurrency at the moment.
Why did Bitcoin’s price drop?
Bitcoin’s price drop is only temporary. Investors like you are looking to take advantage of this discount.
The reason Bitcoin and the entire crypto market dropped was due to institutions liquidating their accounts. For what? Who knows.
Retail investors are speculating institutions did these to cover upcoming margin calls in overleveraged accounts such as AMC Entertainment and GameStop.
Don’t be too quick to write these heavily shorted stocks off though. They could just very well prove to be the catalyst to something much bigger in the markets. Both AMC and GME have negative betas meaning when the markets crash, these two stocks will skyrocket.
Will Bitcoin drop again?
According to JP Morgan, Bitcoin could go back down to as low as $23K. The bank valued BTC between $23K-$35K as of late June but has since gone up. With most experts including JP Morgan predicting a six figure price, now is the perfect time to park your money in Bitcoin.
You could wait for BTC to dip more although the cryptocurrency is already on discount per say. You can’t go wrong with either or. If you trust the data that points towards massive Bitcoin gains, then buying any dip at this point is a steal compared to where it’s going to be later on.
Despite the crypto market bleeding, it seems most investors continue to have a positive outlook on BTC.
Does Frank Nez own Bitcoin?
I do own Bitcoin. In fact I put $100 as a ‘tester’ in BTC right before it plunged. I’ve seen a 40% decrease thus far but continue to hold that small position. The drop didn’t surprise me at all. I understand the massive potential BTC has but I also expected this to happen.
There are so many exciting things going on in the market at the moment. I’m up around 400% in AMC Entertainment stock, so far. This stock is set up for a massive short squeeze and I cannot wait for this rocket to take off.
Regarding crypto, I personally have a strong conviction towards BTC and will be increasing my position as it continues to dip and as soon as I raise more capital for a good investment in it. There’s no doubt in my mind this cryptocurrency will continue to drop short term but run up long term.
Want exclusive access to my portfolio?
I’m excited to use this vehicle as a means to diversify my portfolio and to multiply my investments. If you’re curious to know when I make this large investment, become a Patron over at my Patreon! Here you’ll gain access to these behind-the-scenes moves and real-time updates on my portfolio.
I want to share this information with you because my goal is to help you reach that financial freedom you deserve. I want to share my growth and I want to share the knowledge.
You do not have to follow my footsteps, but you can observe and make an honest assessment to see whether or not my financial steps could also play in your favor.
Thank you for being here today. I look forward to providing you with more value very soon.
