While no one can deny the massive influence of Bitcoin on the cryptocurrency and blockchain worlds, and no one can possibly refute the utility of the Ethereum blockchain, there are many other smaller players who are changing the landscape at breakneck speeds. One of these players that have emerged as a key competitor to becoming […]
Michael Saylor’s MicroStrategy is gearing up to invest nearly half a billion dollars in bitcoin following the close of its offering as it pertains to the sales of senior secured notes. Earlier this month, the company announced plans to sell with a view to funding additional investment in Bitcoin. The press release revealing as much […]
Hedge fund manager Paul Tudor was a guest on CNBC’s “Squawk on the Street” segment Monday morning with plenty to talk about, including meme stocks, how Bitcoin fits in with his stock portfolio, and his take on the latest inflation data.
Meme stocks aren’t for everyone
Concerning the meme-stock craze, Tudor Jones believes that retail investors should follow the investment thesis they desire, regardless of what it may be. Personally, he said he would not pursue the type of investment strategy that dominates forums like Reddit. He added:
For me, I want to have a sound investment thesis other than just necessarily running shorts in or necessarily doing things simply because of the fact it is extraordinary and hasn’t been done before.
As a whole, he said the stock market is trading at a premium valuation compared to the broader economy. This creates a potential scenario where the top has been reached and if history repeats itself, we could see a signficant correction coming.
Bitcoin is a ‘great diversifier’
Although traditionally known as a stock picker, Tudor Jones said there is room for 5% of his portfolio to include Bitcoin. He said that Bitcoin can serve as a “great diversifier” for his portfolio and cryptocurrencies as a whole offers “a story of wealth.”
He said that he likes putting his money in something honest, reliable, consistent, and 100% certain and reliable, and this can apply to Bitcoin. He further claimed that he likes investing in Bitcoin because it means he’s investing in certainty. He explained:
Bitcoin is math, and math has been around for thousands of years, and two plus two is going to equal four, and it will for the next two thousand years. So I like the idea of investing in something that’s reliable, consistent, honest, and 100% certain.
While Bitcoin accounts for 5% of his portfiolio, another 5% is invested in gold, 5% in cash, and 5% in commodities. He’s not so sure about the other 80% leftover as of right now. He says that he’ll wait and see what action the Federal Reserve will take in the upcoming policy meeting as its actions will “have a big impact.”
Monetary and fiscal policy is ‘crazy’
Tudor Jones also said the current mix of fiscal and monetary policy is “crazy” to the point where it might even be the craziest since the creation of the Federal Reserve. He states that, given how the economy looks right now, the combination of easy monetary policies and high government spending goes against economic orthodoxy.
He further claims that high prices in both gold and cryptocurrency result from people losing faith in the Federal Reserve. He says that it’s “disingenuous” for the Federal Reserve to look at inflation as “transitory.” This stance has led to people questioning the central bank’s market capabilities.
The post Paul Tudor Jones talks meme stocks, asset allocation, and inflation appeared first on Invezz.
from Cryptocurrency – Invezz
Monero XMR/USD is a cryptocurrency token that gives fraudsters more freedom from the tracking mechanisms and tools integrated by the BTC blockchain. It’s even been dubbed the “privacy token.”
“The savvier criminals are using Monero,” Rick Holland, chief information security officer at cyber threat intelligence company Digital Shadows, told CNBC in an interview.
As you may know, Bitcoin’s public ledger is visible to everyone. That means everyone can see each and every transaction on it. Cybercriminals are turning to currencies with additional anonymity, of which Monero’s not the only one. Dash and Zcash are two more examples.
Monero: ransomware criminals’ cryptocurrency of choice
Anonymity is ingrained in Monero’s DNA. Even its developers, who introduced it in 2014, remain largely anonymous. Its most important aspects are confidentiality and privacy. Monero has its own blockchain, which conceals practically all transaction details. It hides the amount of the transaction, the recipient, and the sender. These features made Monero quite popular on the underground marketplace AlphaBay before it closed down four years ago. Holland added in the interview:
It’s almost like we’re seeing, at least from a cybercriminal perspective, a resurgence … in Monero, because it has inherently more privacy than some of the other coins out there.
There are certain obstacles to mainstreaming this privacy-loving currency. In fact, it’s exactly this privacy-first feature that prevents Monero from becoming mainstream. Many regulated exchanges won’t list it which by default makes Monero less liquid than other coins.
The Future of Monero
Regulators have every right to tell exchanges that they risk losing their license if they list the Monero coin, according to CNBC. On the other hand, markets enabling peer to peer Monero to fiat transfers tend to be difficult to regulate and it’s safe to say this won’t change any time soon. There’s also the misconception that cybercriminals will remain within U.S. jurisdiction. They could operate from abroad just as easily – much more easily, in fact.
Cyber criminals can even combine clean coins with illegal funds to create a new type of coin. They can swap the new coin for Bitcoin or to Monero and then use Monero to buy BTC again with the ultimate goal of cashing out their coins to the fiat currency of choice.
from Cryptocurrency – Invezz
American billionaire hedge fund manager, Paul Tudor Jones has revealed that he would like to invest at least 5% of his wealth into bitcoin as he considers it an ideal portfolio diversifier. During an interview with CNBC today, the billionaire investor said “bitcoin is math and math has been with us for many decades now, …
The post Paul Tudor Jones: “5% of My Assets Will Be in Bitcoin” appeared first on Tokenhell.
Bitcoin has risen to about $37,000 per unit at the time of writing. While this number is nothing compared with the new all-time high it attained in mid-April, it is still about $5,000 more than where it stood during the early portion of the week. Thus, it can be said that bitcoin may be returning…
The post Finance Professor Aswath Damodaran Says BTC Was Never “Designed to Work” appeared first on Live Bitcoin News.