Home 2021 “Bitcoin is one hell of an invention”

“Bitcoin is one hell of an invention”

by Paul Ebeling

#Cryptocurrencies #Bitcoin #Ether #Defi

$BTC $ETH

Bridgewater Associates founder Ray Dalio said Bitcoin is “one hell of an invention” and he’s considering cryptocurrencies as investments for new funds offering clients protection against the debasement of fiat (paper) money.

To have invented a new type of money via a system that is programmed into a computer and that has worked for around 10 years and is rapidly gaining popularity as both a type of money and a storehold of wealth is an amazing accomplishment,” Mr. Dalio wrote in a note to clients and later posted on Bridgewater’s website. “There aren’t many alternative gold-like assets at this time of rising need for them.

Crypto spot volumes Friday spiked to about $9-B the 2nd-highest mark in January according to CoinDesk 20.

Bitcoin’s price jumped Friday. In the span of 1 hr, starting at 9:00 UTC (4:00 a ET), the world’s largest cryptocurrency gained 11%, going from $33,377 to $37,113 according to CoinDesk 20 data.

Then over the next hrs Bitcoin hit a 24-hr high of $38,566 before profit taking sell orders started to take over the market, with the price per 1 BTC at $34,616. 

It will be interesting to see how Bitcoin performs over the weekend because crypto never sleeps.

Ether (ETH), the 2nd-largest cryptocurrency by market cap was up Friday trading around $1,348 and climbing 0.81% in 24 hrs as of 21:00 UTC (4:00p ET).

DeFi (monthly decentralized exchange) or DEX, volumes for major projects in the Ethereum ecosystem have bested $50-B locked, according to data aggregator Dune Analytics.

Have a healthy weekend, Keep the Faith!

You may also like

logo-white

Your Trusted Source for Capital Markets & Related News

© 2024 LiveTradingNews.com – For The Traders, By The Traders – All Right Reserved.

The information contained on this website shall not be construed as (i) an offer to purchase or sell, or the solicitation of an offer to purchase or sell, any securities or services, (ii) investment, legal, business or tax advice or an offer to provide such advice, or (iii) a basis for making any investment decision. An offering may only be made upon a qualified investor’s receipt not via this website of formal materials from the Knightsbridge an offering memorandum and subscription documentation (“offering materials”). In the case of any inconsistency between the information on this website and any such offering materials, the offering materials shall control. Securities shall not be offered or sold in any jurisdiction in which such offer or sale would be unlawful unless the requirements of the applicable laws of such jurisdiction have been satisfied. Any decision to invest in securities must be based solely upon the information set forth in the applicable offering materials, which should be read carefully by qualified investors prior to investing. An investment with Knightsbridge is not suitable or desirable for all investors; investors may lose all or a portion of the capital invested. Investors may be required to bear the financial risks of an investment for an indefinite period of time. Qualified investors are urged to consult with their own legal, financial and tax advisors before making any investment. Knightsbridge is a private investment firm that offers investment services to Qualified Investors, Members and Institutions ONLY. Qualified Investors are defined as individuals who have met those Qualifications in the relevant jurisdictions. Members are defined as individuals who have been accepted into the Knightsbridge membership program. Institutions are defined as entities such as banks, pension funds, and hedge funds. If you are not a Qualified Investor, Member or Institution, you are not eligible to invest with Knightsbridge. All investments involve risk, and there is no guarantee of profit. You may lose some or all of your investment. Past performance is not indicative of future results. Knightsbridge is not a registered investment advisor, and this disclaimer should not be construed as investment advice. Please consult with a qualified financial advisor before making any investment decisions. By accessing this website, you agree to the terms of this disclaimer. Thank you for your interest in Knightsbridge.