News

Gold could be a reason for Bitcoin rise to Biden administration benefiting Crypto

Gold could be a reason for Bitcoin rise to Biden administration benefiting Crypto

1) Gold could be a reason for Bitcoin price rise – Experts.

Charlie Morris, founder and CIO at ByteTree Asset Management tweeted about gold being the reason for Bitcoin’s price rise as many investors have entered the Crypto market leaving Gold behind. He wrote

With bond yields up and inflation expectations down today, #gold has taken a hit. This justifies a $50 sell off, but price is down $120. I’d attribute the excess to flows moving towards #Bitcoin

Holger Zschäpitz, a Senior Editor at the Economic and Financial desk of the German daily Die Welt also tweeted

#Bitcoin’s competition w/gold has already started as evidenced by >$3bn of inflows into Grayscale Bitcoin Trust & >$7bn of outflows from gold ETFs since Oct, JPM says: Competition w/gold as an alternative currency will continue given millennials will become over time more important.

2) Biden administration can help Bitcoin rise further.

Biden administration is thinking about flooding the U.S. economy with trillions of dollars as a result most investors will move to options like Bitcoin to protect their money. Joe Biden is planning to provide Americans with $2,000 in stimulus payments to help the economy recover. He also said

Economic research confirms that with conditions like the crisis today, especially with such low-interest rates, taking immediate action – even with deficit financing – is going to help the economy

3) Two predictions about Bitcoin that were right.

Cameron Winklevoss, Gemini co-founder back in 2013 predicted that Bitcoin would reach $40,000. In 2013 he also said

When this will happen, if it happens, I don’t know, but if it happens, it will probably happen much faster than anyone imagines.

Max Keiser, host of the Keiser Report and co-founder of Heisenberg Capital also predicted that bitcoin would be approximately $28,000 by the end of 2020.

4) Warren Buffett’s Rat Poison Squared is actually rat poison for cash.

In 2018, Warren Buffett on CNBC said Bitcoin is “probably rat poison squared”. Bill Miller, US fund manager and investor believes bitcoin is a “rat poison for cash”. In fact, Max Keiser said “Bitcoin is rat poison and Warren Buffett is the rat.” He also said

His company Berkshire Hathaway has been bailed out three times by the taxpayer, and without those handouts, Berkshire would have gone under long ago. It’s understandable he’s against Bitcoin because Bitcoin challenges the entire state-run fiat money Ponzi scheme that Warren leaches on.

5) Sushiswap shared its roadmap for 2021.

2020 has been an excellent year for Sushiswap as it became the largest decentralized exchange (DEX). In the roadmap for 2021, there is mention of a v2 launch called Mirin and a launch of Bentox, Sushiswap’s lending product in mid-January. In the roadmap, it is also written

Sushiswap will be moving to a new domain in 2021 to reflect better how we aren’t an AMM anymore.


We are on Twitter / Facebook / Instagram