It’s not just because of volatility that pension and super funds don’t want to be associated with bitcoin. It’s also because of a question many investors have, ‘how do you value bitcoin?’
Imagine if bitcoin and other cryptos became a whole lot easier to trade. With such hype and interest, you’d think the price of cryptos on the whole would rise, right? Well, a future where you could buy a crypto exchange traded fund (ETF) might not be that far off.
This event, coming soon, will link blockchain to every single one of the massive investment trends. And the implications will be astounding. But you can only benefit if you understand the full ramifications of this moment, and invest accordingly.
Over the weekend, bitcoin climbed to a record high above US$6,000. New highs for bitcoin is not all that surprising. It seems to climb higher and higher every month. The token is now up approximately 500% year-to-date.
Now bitcoin, the original, is heading for another fork. This time the spin-off token will be bitcoin gold. When the fork happens, anyone holding their private bitcoin keys will receive the same amount of bitcoin gold — for free.
When you see the mainstream cover bitcoin and apply mainstream thinking, you simply have to ignore it. Most of the mainstream coverage is flat out wrong. Take the time to understand how bitcoin and cryptocurrency work. Get your information from reliable, credible, experienced sources.
As crypto market stabilised following bitcoin’s recent surge, one coin buckled the trend today and is up 64% at time of writing. Nav Coin (NAV) is based on Bitcoin (BTC) technology, but is packed full of advanced privacy features.
Perhaps we were thinking about it all wrong to start with. Rather than fintech taking over banking, they never really intended to. What we are seeing is that fintech companies are going for areas of business that existing banks left alone.
I’m not talking about simply one big central database. Or silos of data held by governments or health services. As you’ll have seen recently, such centralised stores of data are honeypots for hackers and criminals. That’s pre-blockchain thinking.
Goldman Sachs Group Inc. and Alphabet Inc. are extremely active in developing and learning more about what a distributed ledger could do for their business. The largest US corporations are following Goldman and Google in their bitcoin pursuit.