There’s one in particular that has just released a massive new announcement with one of the world’s biggest tech companies. And we’re not just talking about any ‘big’ tech company. We mean one with a market cap of more than US$200 billion.
Crypto is a technology revolution. It’s evolving, improving, expanding and changing. That's why we believe the BIS report on the death knell of bitcoin is wrong.
When it comes to bitcoin, do you want to play it safe or leverage up with CFDs? Just for fun, work out a hypothetical trade. Use your capital base to decide how much bitcoin — or how many CFDs — you’d buy.
If crisis hits again, people will flee the traditional system. They'll realise the current system isn’t as safe as they think. They’ll want something else. And crypto will be there, ready, waiting for them.
Consumers in China are worried about being sold fakes or derivatives passed off as the real deal. It’s happened with infant formula, wine and now fish. Trust has broken down. But blockchain technology is going to change everything for the better.
But while investors have been more interested in the price of cryptos, companies are interested in the underlying technology — blockchain. It’s been around for a while, but let’s have a quick refresher. The best way to describe blockchain is to think of a ledger.
At the time of writing, shares of Chapmans Limited are up by 14.29%, to 0.8 cents, in today’s trading. Last week, Chapmans raised AU$4.552 million, comprising of AU$1.59 million in equity and AU$2.962 million in unsecured convertible loans due at 30 June. Chapmans used the funding to acquire a 19.99% stake in GPU.One, a profitable data processing and cryptocurrency company.
The price of bitcoin exploded overnight, rising from US$6,870 (AU$8,859.21) to US$8,034.17 (AU$10,360) in an hour, according to prices quoted from Coindesk. There’s no one specific piece of news that can be pointed to as being solely responsible for the sudden jump. Instead, it seems that a number of factors came together at the same time.
This is exactly one of the reasons why a decentralised crypto based system will be better than the centralised banking systems we rely on today. And as you’ll see from my Crypto Tech Investor essay, it’s not the only problem we face when dealing with banks.
These are my own personal views on how the Australian Tax Office should be approaching the crypto revolution. Public consultation is a positive step forward. Hopefully they’ll take on board a common sense approach and interact more with those on the inside of this revolution.