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Bitcoin Poised for Parabolic Rise with Institutional Capital Inflow, Says Morgan Creek Capital Founder

Morgan Creek Capital founder Mark Yusko predicts a bright future for Bitcoin (BTC) as institutional capital worth hundreds of billions is expected to enter the market. Yusko points to Bitcoin's historical trend of adding a zero to its price following each halving event, with the next one slated for April 2024. He anticipates a 1.5x increase from the current all-time high, potentially reaching $100,000. Additionally, Yusko believes Bitcoin exchange-traded funds (ETFs) will be approved by late 2023 or early 2024, leading to a substantial influx of capital into the cryptocurrency.

The Daily Hodl - 944 ngày trước

$10 Trillion Asset Manager BlackRock Dominates Ownership in Four of Top Five Bitcoin Mining Companies

Global investment powerhouse BlackRock is strategically venturing into the Bitcoin mining sector. The company has emerged as the second-largest stakeholder in four of the top five Bitcoin miners by marketcap. As the Bitcoin mining industry grapples with rising difficulty and costs, smaller miners face profitability hurdles. This adversity, however, presents an opportunity for well-capitalized firms like BlackRock. Recent data reveals that BlackRock Fund Advisors significantly increased their holdings in major US-based mining firms, including Riot Platforms, Marathon Digital Holdings, Cipher Mining, and Terawulf. The move signifies BlackRock's interest in the crypto mining landscape.

Finbold - 965 ngày trước

Barstool Sports Founder, Dave Portnoy, Strongly Considering Bitcoin Integration in Company's Finances

Dave Portnoy, founder of Barstool Sports, expresses interest in incorporating Bitcoin into the company's finances. Portnoy, who regained ownership of Barstool after a complex financial saga, discusses his prior attempts to persuade the CEO of Penn Entertainment, Barstool's former owner, to integrate Bitcoin. He sees potential for the cryptocurrency on Barstool's balance sheet, following his decision to break free from Penn's regulatory constraints. Despite past controversies involving other cryptocurrencies like SafeMoon, Portnoy remains optimistic about Bitcoin's role in Barstool's future operations.

BeInCrypto - 971 ngày trước

Dubai Aims to Attract Global Talent and Investment with Subsidized Licenses for Web3 and AI Companies

The Dubai International Financial Centre (DIFC) has introduced special commercial licenses for Web3 and AI companies, providing 90% cost subsidy to aid their initial setup. The licenses grant access to physical spaces in the Innovation One building. Over 25,000 professionals from 2,000 registered companies operate within DIFC, a significant financial center for the Middle East, South Asia, and Africa. The move aims to bolster Dubai's Web3 and AI leadership. Exclusive to specific tech fields, the initiative seeks to attract global talent and investments, fostering collaboration and innovation.

Bitcoin News - 975 ngày trước

Strike Introduces Lightning-Powered Bitcoin Transfers for Instant and Affordable Remittances to Mexico

Strike, the global money app, has expanded its payment service "Send Globally" to Mexico, aiming to provide faster and cheaper cross-border payments using Bitcoin's Lightning Network. With Mexico receiving a record $60 billion in remittances from the United States in 2022, Strike's initiative offers an alternative to traditional money transfer providers. By converting dollars to bitcoin and utilizing the Lightning Network, users can enjoy instant payments to Mexican bank accounts without transaction fees. The partnership between Strike and Relampago in Mexico enables low-cost cross-border payments, transforming the financial landscape for Latin American individuals.

Bitcoin Magazine - 1040 ngày trước

Major Telecoms Player in Taiwan Ventures into Local Crypto Industry, Bolstering Innovation and Growth

Taiwan Mobile, the second-largest telecom company in Taiwan, is reportedly considering collaborations and investments in local cryptocurrency firms. The telecom company is engaged in preliminary discussions with crypto platforms for potential strategic partnerships. One of the firms it is reportedly in talks with is XREX, a blockchain-enabled financial institution. As Taiwan's Financial Supervisory Commission takes on the role of chief regulator for digital assets, it plans to introduce detailed guidelines for virtual asset service providers, including disclosure requirements, prevention of money laundering, and instructions on managing cryptocurrency wallets.

CryptoSlate - 1041 ngày trước

JPMorgan Takes the Lead in Launching Blockchain Settlement System Pilot Program with Six Indian Banks

JPMorgan Chase partners with six Indian banks to introduce a blockchain-powered platform for interbank dollar transactions in New Delhi. The aim is to eliminate manual intervention, reducing settlement times and costs. The Reserve Bank of India launches a domestic non-deliverable forward market settled in dollars at GIFT