MicroStrategy bets on Bitcoin again
MicroStrategy nearly doubled its BTC holdings after the company's founder pointed to uncertainty over the future of the US dollar. The largest US business intelligence company has issued a K8 form informing the SEC and the public that the company can increase its bitcoin holdings beyond its initial investment. On August 11, the company accepted Bitcoin as the main reserve asset and acquired 21,454 BTC for $ 250 million. The company has since invested another $ 175 million in BTC. MicroStrategy's new policy allows them to regularly convert portions of their passive monetary assets into bitcoins without any further SEC notification.
24 hours after the news went public, Michael Sayler, the firm's founder, announced that MicroStrategy had acquired an additional 16,796 bitcoins, bringing the total assets to 38,250 BTC, or $ 450 million. The CEO of the company called bitcoin "digital gold", the value of which will only grow.
In addition, Michael Sayler believes that the economic recession triggered by COVID-19 will lead to the depreciation of fiat currencies and most traditional assets. The company's current market is $ 1.38 billion. In total, Bitcoin investments account for 30% of all their assets. The latest acquisition means the company controls 0.1% of the total BTC supply in the market.
Not Just Bitcoin: Which Cryptocurrencies Should You Look For In 2020?
After the boom in 2017, the cryptocurrency market experienced a prolonged downturn. However, now the blockchain industry is gaining momentum again and investors are starting to take an interest in digital coins. This material on the prospects for 2020 was prepared by the editors of the Betting Office portal and we published it, because it is always curious to read the opinion of those who are just trying to dig deeper and understand all the nuances of the cryptocurrency. 5) Ripple (XRP) Ripple is a cryptocurrency platform conceived as an alternative to existing payment systems for fast and cheap interbank transfers. The developers are already collaborating with many major financial institutions, and are also preparing to integrate with Apple Pay.
This suggests that in the near future, the system may gain wide acceptance in banks around the world, so Ripple is regularly included in the lists of the most promising cryptocurrencies for investors. At the time of publication, XRP tokens are trading in the region of $ 0.23, but experts expect that by the end of 2020 its price could rise up to twenty times. 4) TRON (TRX) TRON project appeared in 2017. Initially, the developers planned to create a simple digital content exchange system, but now their ambitions are much higher - it is assumed that in the future the TRON ecosystem will become a decentralized analogue of the Internet. In 2018, the Tron Foundation closed one of the most significant deals in its history with the acquisition of the popular BitTorrent torrent tracker. In addition, Tron developers have partnered with well-known companies such as BitGuild, Game.com, Xu Le, Oracle and Swisscom. At the time of publication, the capitalization of the TRX token exceeds $ 2.4 billion, and the cost of the coin hovers around $ 0.03. Experts expect the coin's price to rise to around $ 0.1 in 2020. 3) Star (XLM)
The Stellar cryptocurrency appeared as a result of the Ripple hard fork, and a year later the developers created their own open source protocol. Like its predecessor, the Stellar platform is designed to make bank transfers cheaper and faster. However, the Stellar blockchain has more bandwidth than Ripple. In addition, there is no additional emission in this system, and the developers control only 5% of the issued coins, which significantly increases the decentralization of the platform. 2) Cardano (ADA) The Cardano project is a third-generation cryptocurrency that should outperform competitors in compatibility and scalability. This summer, ADA's rate has grown significantly with the transition to a new network called Shelley, which has made the platform truly decentralized.
At the same time, the developers promise to add smart contracts to Cardano by the end of 2020 - if they manage to fulfill the promise, then the coin rate may rise even more. 1) Ethereum (ETH) Ether is firmly in second place in terms of capitalization among cryptocurrencies, second only to Bitcoin. Developers from the Ethereum Foundation are systematically improving their brainchild: in the next two years, there will be a transition to Ethereum 2.0. Once the upgrade is complete, the Ethereum network will become more scalable and transactions will become faster and cheaper. There will be pluses for investors: changing the consensus algorithm from PoW to PoS to reduce the emission of tokens to 2.5%, as well as act as an incentive for long-term storage of ETH, which will make the price of the coin more stable.
Binance Debit Card Now Available In All EU Countries
Binance is actively promoting its new crypto debit card. Leading exchange Binance has launched its Binance Visa Card, a cryptocurrency debit card in the European Economic Area. According to the press release, Binance's Visa card allows users to pay with cryptocurrency wherever Visa is accepted. Automatic conversion of cryptocurrency funds into local currency allows transactions to be made at more than 60 million points around the world. In honor of the launch, the company offered the user the highest cashback rate on the market - up to 7%. The rate depends on the number of native BNB tokens on the balance for the last month. The card works in a similar way to regular debit cards and is replenished from an exchange wallet with Bitcoin (BTC), Binance Coin (BNB), Swipe (SXP) and the stable currency Binance USD. The exchange announced the launch of the program at the end of March last year. At the end of July, users in France and Spain, who had previously applied, began receiving the first Binance Visa Cards debit cards.
5 large banks will test the Russian digital ruble
The upcoming testing of the digital ruble will take place in five large Russian banks: PSB, MKB, Zenit, DomRF and the Crimean RNKB. The first is planned to provide an opportunity to test the capabilities of the digital national currency for the Crimean RNKB. This will provide the peninsula with a modern banking infrastructure and fast and cheap online payments. Citizens of the country will be able to receive salaries, benefits and pay for purchases in digital currency.
Chinese city will distribute 10 million digital yuan to residents
During the week, residents of Shenzhen can participate in a free lottery and win digital currency. Shenzhen residents can participate in the lottery using iShenzhen, a blockchain application developed by the city government. On Sunday, officials will announce the lottery winners who will receive their winnings to their e-wallet.
Bitcoin traders lost $ 140 million in a day
The renewal of the October maximum military technical cooperation provoked a massive liquidation of short players. The leader in terms of liquidation was the Binance crypto exchange, which closed short positions for $ 38 million.