hello folks you have reached the
cryptocurrency portal and today we want
to go over little information about
Bitcoin in general and you can see this
first article talks about how a a macro
strategist so kind of from a thousand
foot level says crypto will replace the
US dollar as the world's reserve
currency so let me know in the comments
section below what you think do you
think the crypto will replace the US
dollars the world's reserve currency but
Bitcoin isn't up to the challenge so
let's go through this together
Jim Bianco who's present and macro
strategist of financial analyst firm
Bianco research says he believes a
cryptocurrency will replace the US
dollar as the world's reserve currency
in an interview on the pump podcast
which I actually highly recommend
Anthony pump Leon o is great podcaster
who brings on great guests and have
great discussions about the crypto
market in general so the pom pom podcast
with host and Morgan Creek digital
partner Anthony pump Leon o bianco
explains why the dollar remains the
primary fuel for global economies and
financial markets his quote is remember
that the dollar is the reserve currency
what that means is 90% of world trade is
in dollars we quote the price of crude
oil in dollars we quote the price of
gold in dollars when you get into a
crisis everybody looks around and goes
what currency do I want to be in and the
answer is I want to be in the reserve
currency I want to be in dollars there's
this giant need for dollars the safe
haven currency and because it's the
right thing we do to trade with Bianco
however says that people have been
looking for a better reserve currency
over the past ten years since the dollar
is far from perfect and especially in
light of the United States keeps
printing money and spending money in and
through Congress through all their
policies they're doing lately which
probably makes sense to do in the short
term but long term with 25 trillion
dollars in debt that's not going to end
well long term
in his quote here and he says to quote
Winston Churchill the dollar is the
worst reserve currency we've ever
devised except every other one and so it
benefits that there is no alternative
you're not going to you know wave a wand
and say the Euro or the yen or the pound
because no other fiat currency can fill
the bill Bianco thinks that the next
reserve asset will be encrypt oh and he
says I've argued that in theory the next
reserve currency will be a crypto I
thought maybe Libre would do it but then
I thought for sure I was on to something
because the first thing they did when
they announced Libre was they dragged
Marcus in front of Congress in ripped
him a new one because they were afraid
of what Libre represented and that's
true and I actually did a video about
the libre white paper that was devised
by Facebook so I'll put that in the
comment section below if you want to
check out that video I did about the
libre white paper so continuing here it
says but after backlash and unrelenting
criticism from lawmakers Libre is no
longer what it was originally conceived
to be a single global stable coin backed
by a basket of multiple currencies
bitcoin is currently the largest
cryptocurrency by market cap but Bianco
says the king coin does not have what it
takes to be the next reserved asset he
process it probably doesn't exist yet
and that kind of flies in the face of
what the ripple fans and the XRP token
fans are probably saying he says I don't
know when it will exist or which one
will be because it needs to be both a
medium of exchange and a store of value
bitcoin might be a store of value but
it's not a real good meaning of exchange
maybe there's some others like ether or
something you can argue as better medium
of exchange but they're not a good at
the store of value and he finishes here
and says I do think it's coming but
it'll it still could be years down the
road right now maybe it exists in some
infancy form right now
whichever crypto is is going to be it or
maybe it's still yet to be invented so
interesting thoughts there because a lot
of people are thinking the dollar long
term will not be the world to reserve
currency now there's a lot of projects
out there the thing they are
next world reserve currency so put the
comments section below what you think
what crypto or what project out there
long term do you think will replace the
US dollars the world's currency not in
the short-term not mooning tomorrow just
long term give us some thoughts about
what project do you like and could fit
the bill long term so continuing on this
whole bit coin and crypto theme here the
next article I want to kind of give an
overview on is this one of how it says
as payments go digital survey shows
Bitcoin and cryptocurrency must overcome
major trust issues now I've done a video
about the digital dollar project as well
I'll put a link to that in the comment
section below and when this video is
over in the my in screen I'll go right
into the next video the digital dollar
project so if you want to check that
video out just go to the end of this
video and we'll go right into it so it
says here a new survey from The
Economist Intelligence Unit reveals
there is still much work to do before
the public gains confidence in Bitcoin
and other cryptocurrencies the survey
shows that 64% of the 3048 respondents
are using digital payments such as
online banking mobile payment and
digital currencies to pay for over half
of their purchases the results indicate
crypto currencies are the least
preferred as a payment method only 5
percent of the respondents report they
always use crypto currencies for
purchases and 10 percent say they use
crypto assets often credit cards are the
most popular payment method followed by
online banking cash and then Krypton the
result of the 20/20 survey on digital
payments comes out as the world
transitions to cashless financial
transactions amid the corona virus
pandemic the investors have been pouring
big money into mobile thin tech
platforms as online activity source
payment processing giant stripe valued
at 36 billion dollars just completed a
funding round of 600 million dollars
last week revolute raised 500 million
and a 5.5 billion dollar valuation in
February so there's a lot of money
that's flowing
into the crypto and thin tech space
actually did a video a month or so ago
about how ripple got a huge venture
capital infusion of capital over 200
million dollars that valued them at 10
billion dollars so if you want to check
that video out I'll also put that link
to that video in the comment section
below so continuing on says but new
blockchain based platforms are still
trying to carve out their niche with
mainstream users among digital
currencies responders have the least
confidence in crypto currencies that are
not backed by the government or or any
organization such as Bitcoin 38% say
these decentralized cryptocurrency
are not trustworthy while 26% say they
feel confident about using them
respondents have more confidence in
using government or central bank digital
currencies cvd sees with 54% saying
these assets are trustworthy at 14%
saying they are not trustworthy the
report cites several factors that hamper
the widespread use of cryptocurrency
first one is here familiarity with
crypto currencies as the digital
currency are high yet matters of trust
use options and understanding persist
managing digital currencies also require
certain skills and crypto is largely
viewed as a high risk asset in part
because of volatility I actually did
another video about the average Joe get
into the cryptocurrency space what it's
going to take for those types of retail
investors to get on get into the crypto
space so I'll also put a link to that
video in the comment section below if
you want to check that out afterwards
alright so continuing along here with
the Bitcoin theme overall Anthony
papahana who again has a great podcast
to check him out predicts a 1288 %
Bitcoin bull run says global macro
fallout will likely push leading crypto
higher now again we don't like to price
predict on this channel and we don't
push for that we don't we don't price
predict we don't give those suggestions
out there we don't like to put you know
click baby thumbnails out there but it
is interesting to go
why people think Bitcoin long-term is
going to go up obviously a lot of people
are talking about the Bitcoin having
that's coming up in early May so let's
go through this together
it says despite the gloomy economy
Morgan Creek digital co-founder Anthony
Pompeii Ono says he's not backing down
from his bullish outlook on Bitcoin in a
new interview on tech with Catalina the
crypto investment firm executive says he
predicts the dominant cryptocurrency is
on the verge of a new long-term bull or
twelve hundred and eighty-eight percent
bull run
that will bring Bitcoin from its current
price of seventy two hundred dollars to
one hundred thousand dollars
Pompeii oh no says the macro economic
backdrop along with much anticipated
having an event in May which will reduce
bitcoins new supply by half will likely
fuel a major rally he believes that
massive money printing by central banks
around the world will drive people to
invest in assets that remain scarce and
offer inherent anti-inflationary
properties his quote is so in so end of
2021 I think Bitcoin will hit a hundred
thousand dollars in u.s. dollar value
and really the reason for that is a
combination of macro environment but
with the halving structure you then have
massive quantitative easing in the
United States we've already announced
two trillion dollar stimulus Japan are
approved in almost one trillion dollar
stimulus plan they're devaluing the
currencies and when that occurs people
are going to seek out inflation hedges
like assets like Bitcoin real gold real
estate etc and so right when everyone is
running to gold Bitcoin real estate and
others bitcoins do gonna going to have
this supply shock 50% of the incoming
daily supply will disappear and that's
the having event coming up I think
you'll continue to see kind of see the
same kind of level demand or more likely
you're gonna see an increase in demand
over time if you get that increase in
demand but you get a decrease in
incoming supply supply and demand
economics take over and you get an
increase in price and that's true some
people think that the
having pricing increases already baked
in because people already think it's
gonna happen time will tell we're gonna
know here in a couple or a few weeks
what will happen but those are the his
thoughts on it so pop Leon o says he
expects that bitcoins rise to begin
slowly with BTC taking more than a year
to register a new all-time low within
the first 18 months of the halving give
or take we will see a very material
increase in price and he says my guess
is that we'll see $100,000 by the end of
December of 2021 at a minimum so those
are just his thoughts and if you want to
check out this video you just go here
and click on it so continuing along 166
billion dollar hedge funds ient is
considering Bitcoin futures entry so the
hedge fund Renaissance technologies
which manages a hundred and sixty six
billion dollars and regulatory assets is
ready to venture into Bitcoin futures in
a new filing with the United States
Securities and Exchange Commission
Renaissance reveals it has green lighted
its ten billion dollar flagship
medallion fund to enter into the futures
market the Long Island based firm
acknowledges the risks that come with
investing in Bitcoin describing the king
coin as a relatively new and speculative
asset due to its limited history
decentralized system lack of recognition
is a legal tender and its potential to
power fraudulent transactions which I
always kind of put an asterisk on that
when people bring up fraudulent
transactions because a lot of fraudulent
transactions happen with cash as well
investment results may vary
substantially over time these
instruments involve substantially more
risk and potential for loss relative to
more conventional financial instruments
investments of this type should be
considered substantially more
speculative speculative and
significantly more likely to result in a
total loss of capital than many other
investments Renaissance one of the
largest hedge funds in the world says it
is limiting crypto trading activities to
Bitcoin futures contract on the Chicago
Mercantile Exchange seamy the
largest futures exchange in the world
CME's bitcoin futures are cash settled
so they do not involve the actual
exchange of BTC and the firm's
interest in bitcoin marks the extensive
reach of the crypto industry and its
ability to continue to attract top-tier
institutional investors Renaissance
Technologies medallion fund recently
reported a 24 percent gain for 2020
despite the pandemic induced market
downturn it may be a nine point nine
percent return in march outperforming
the sp500 which turned in days of
historically low declines amidst a broad
market sell-off so just some thoughts
you know when you get large hedge funds
starting to put money in you have the
having that's gonna happen at the
beginning of May which is gonna reduce
supply more retail investors get
involved more institutional investors
get involved therefore there's more
demand less supply because of the supply
and demand economics in general price
could go up so it's interesting to think
about and just have that whole thought
process so data shows investors are
flocking to Bitcoin as traditional safe
havens falter so I'll just kind of go
over this right here cryptocurrency
investors were quite disturbed to see
Bitcoin trade as a firmly risk on asset
when it closely mirrored the weakness
seen by the traditional markets as
investors began to understand the depth
of the corona virus pandemic
implications bitcoins weakness reached a
boiling point in early March when the
poor performance seen by the sp500 and
other benchmark indices sparked a
movement that proved to be devastating
for cryptocurrency but a lot of its
rebounded since then so that's not
wanted to go over that real quick I
didn't want to go over a lot of this
it's just interesting to see the
headline here or showing investors more
investors are flocking to bitcoins so
just kind of take that whole momentum
together again the institutional
investors the retail investors this data
is showing investors flocking for more
safe havens that the halving that's
happening so a lot of momentum in this
space so here's what's driving a Bitcoin
buying frenzy among retail investors so
just let's go over the bullet points on
chain data suggest that
detail investors are currently engaged
in a buying frenzy this comes close on
the heels of the Kryptos terrifying
plunge from 8,000 to 3,800 and it's back
up now over 7,000 which has since been
followed by an unwavering uptrend where
we are now the strength has shown
Bitcoin has shown in the face of massive
macroeconomic weakness maybe bolstering
investor sentiment the Kapiti capitulate
or plunge that Bitcoin took back on
March 12th was historic with
cryptocurrency declining from highs of
8,000 lows of 3,800 over matter of mere
hours a day that will now live in in
fact I am 50 at Thursday all right the
price action seen following the sell-off
however seems to illuminate the strength
of the digital asset even leading one
analyst to go as far as saying that it
makes Bitcoin the most resilient asset
in the world interesting to say that the
over resilience may be driving in
ongoing buying frenzy that Bitcoin
investors are crying gauged in as data
suggests that Bitcoin holders are human
at a rapid rate probably cuz what's
going on in the world in general with
all of the printing of money
Bitcoin holders enter full-fledged
accumulation mode according to the
recent data from blockchain research
platform
glass node Bitcoin investors are now
accumulating the cryptocurrency at an
unprecedented rate while looking towards
their whole er net position change
indicator it appears that investors are
increase in their BTC exposure at the
fastest rates seen this year
and here's quote Bitcoin holder net
position change has been growing daily
since the end of March and is now
hitting yearly highs long-term investors
are increasing their position and
they're accumulating more Bitcoin each
day they noted while pointing to the
chart below so you can kind of see
Bitcoin hold ler net position change you
could see started here back in May 2000
and 19 June 2019 continues here monthly
December end of December of 2019
beginning of 2020 February March April
you can kind of follow that whole
process there
this seems to indicate that investors
are growing increasingly optimistic on
the cryptocurrency a phenomenon that may
be rooted in the intense uptrend that
has been seen in the time since the
recent decline so that's the big thing
that I wanted to go through on this one
let's check out this article and we'll
kind of wrap this up says coin based
apps Investment Banking exact exact
input to push to bring ten billion
dollars in big money to Bitcoin and
cryptocurrency so the big players are
pushing for more players get involved so
you can just see you know they have
everything we've talked about this video
folks the sure momentum that's happening
the space overall coin bases hiring
Barclays executive Brett Ted Paul to
head its institutional coverage group
which was formed to focus exclusively on
the needs of institutional clients the
new hire reflects the california-based
crypto exchanges efforts to make a major
push into the institutional market as it
targets an estimated ten billion dollars
in big money sitting on the sidelines he
held notable roles during his 17 years
of working at the British multinational
investment bank and financial services
company he served as global head of
sales across all of the fixed income and
equities global head of credit and
commodities and member of the
five-person Market Executive Committee
that manages Barclays and tyre markets
business and he also spearheaded the
bank's move into digital companies by
managing Barclays FinTech venture
investments in a new blog post coin
based chief operating officers officer
Emil choy says Tess Paul is joining the
crypto firm as it focuses on better
products and services for its
institutional customers and the quote
here is a theme in an Brett's career has
been building new kinds of businesses
with traditional finance a great fit for
this particular wall where he'll be
making connections between finance 1.0
and the crypto economy brett joins
coinbase at a time when we've never been
in a better position to serve
institutional and professional
investors the coinbase first began
rolling out its suite of institutional
products in late 2017 so let me know
what you think about this article here
about coinbase let me know what you
think about this video in general
because we brought up a lot of
information about what's happened in the
crypto space and the momentum this base
happens and as always put anything in
the crypt in the comment section below I
like to have discussions about the
crypto space in general and I respond to
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talk to you real soon
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you
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