Big Money is Moving into Bitcoin and Etherium

Bitcoin has been trading over $30,000 and Etherium is over $1000. Bitcoin is up 300% since late in 2020.

Bitcoin gained the public support of more billionaires and mainstream investors. Paul Tudor Jones and Stanley Druckenmiller have both put money in bitcoin and pointed out its potential as an inflation hedge. Paul Tudor Jones II founded his hedge fund, Tudor Investment Corporation in the 1980s and founded the Robin Hood Foundation. Stanley Druckenmiller is the former chairman and president of Duquesne Capital, which he founded in 1981. He closed the fund in August 2010 when Duquesne Capital had over $12 billion in assets. From 1988 to 2000, he managed money for George Soros as the lead portfolio manager for Quantum Fund.

PayPal and Fidelity are now supporting cryptocurrency. Square and MicroStrategy are buying bitcoin.

The cryptocurrency rules are now more clear than the price surge that ended in 2017 for Bitcoin.

There are NOT as many transactions going through cryptocurrency as there is through credit cards. However, there is $30 billion a day in transactions through Bitcoin. This is 15 times the volume of Paypal transactions.

Gali of Hyperchart believes the bull case for Bitcoin is the digital gold 2.0. The printing of massive amounts of money (US dollars) will drive inflation.

SOURCES- CNBC, Wikipedia
Written by Brian Wang,

9 thoughts on “Big Money is Moving into Bitcoin and Etherium”

  1. Yes, it is a fact that a significant amount ( billion of cash ) converted into crypto in the last seven years. At the start of the cryptocurrency, the people don't trust it, but with time, the cryptocurrency built the trust. now everyone says that crypto is the future. is giving information and way how to register for cryptocurrency.

  2. Few options & desperation dont usually equate with "freedom of choice".
    Only a minority of the human race can exercise real freedom of choice.

    "A desire to make money" isn't the same thing as "The world view that prioritizes the best interests of money before all other concerns". One of these is normal and the other a symptom of vile ethics.

    The masses may be inept, but lets not pretend they ever had options by over playing the obsessions over free riders.

    Top 20% percent of workers in the US earned

    • 51.9% percent of the household income in 2019
    • 43.3% percent of the household income in 1970

    Bottom 20% percent of workers in the US earned

    • 3.1% percent of the household income in 2019
    • 4.1% percent of the household income in 1970

    The 2 lowest Quintiles (bottom 40% of workers) earned a combined

    • 11.4% percent of the household income in 2019
    • 14.9% percent of the household income in 1970

    Household Income Quintiles

    Quintile Upper Limit Mean
    Lowest quintile $25,600 $13,775
    Second quintile $50,000 $37,293
    Middle quintile $79,542 $63,572
    Fourth quintile $130,000 $101,570
    Top quintile — $233,895

    Lowest quintile $3,688 $1,992
    Second quintile $7,065 $5,396
    Middle quintile $10,276 $8,689
    Fourth quintile $14,661 $12,248
    Top quintile — $21,683


  3. Well sure they're desperate. They've already maxed out their low interest credit cards on stuff they don't need. They don't save any money. They don't get a job if they can collect unemployment. They just spend, spend, spend with no thought to how their going to pay off they're debt. So yeah, of course their desperate. Without another COVID payment from the government how are they going to be that Nintendo Wii they're desperate for?

    The best interests of money??? No one is forcing anyone to get a high interest rate credit card. Instead they can simply live within their means.

    The poor cultural value isn't the desire to make money. It's the desire to spend money you don't make. Instead try being responsible. Yes, I said that bad word "responsibility" something that lots of "desperate" people dont want to hear. They'd rather get into massive debt and then rant about how poor they are. Kind of like Grexit.

  4. Good plan. I have the VFX myself – a basket of 3000 small to medium stocks, as well as the S&P index and the DIA – the DOW stocks. It outperforms my personal stock-picking, as it does for almost everyone over a 5 to 10 year timeframe.

  5. Comptroller of the Currency released rules yesterday saying banks are free to participate in public blockchains and use them for settlement with stablecoins in place of SWIFT/ACH/FedWire.

  6. You can get a ton of diversification with a handful of ETFs. If you're starting really small, then you could pare it down to, say, three funds: VT (Vanguard total world stocks, $92/share), BNDW (Vanguard total world bonds, $82/share), and IAU (iShares gold, $18/share).

    With a larger portfolio you can add all sorts of asset classes, and even get unhedged currency exposure.

    Timing and transaction costs are minimal concerns if you just decide on an allocation, and rebalance to that every couple years.

  7. Now, credit cards charge 20%, even 30%+), payday lenders (never, ever, go to these!).

    Those would not exists if not for the existence of desperate people with few options, and a world view that prioritizes the best interests of money before all other concerns. Poor cultural values can lead to just about anything.

  8. There's a problem, or two, with Ray Dialo's prescription to diversify across asset classes, countries and even currencies. While transaction costs, timing mistakes and general friction can be minimized if one's portfolio is in the multi-millions, like Dialo's, that's not the case for the average, or even upper-average, investor.
    That individual – 90%-95% of the American public – has to work on the debt side of the equation too.
    This obviously means paying off high interest expenses like mortgages and especially credit cards (usury used to be considered anything above 8%. Now, credit cards charge 20%, even 30%+), payday lenders (never, ever, go to these!). It also means taking advantage of cheap diversification tricks, like buying the S&P, DOW, or Russel indexes. It means dollar cost averaging and dividend reinvesting to goose returns above index averages. It means investing in pre-tax vehicles like 401ks. It means careful investment in real estate, but primarily to live in, then later, if one has the money, into income-generating real estate, but not to count on land appreciation, since RE is cyclical over decades too (A separate argument against rent-seeking at the societal level can be made, that it greatly reduces the kinds of boom-busts common to capitalist societies). It certainly means living within one's means.

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