$45,000 Bitcoin looks cheap when compared to gold’s marketcap
BTC’s market cap is much smaller than gold, but Bitcoin’s daily volume and the amount held under management by funds suggests that the cryptocurrency is trading at a heavy discount. Bitcoin (BTC) pulled off an impressive double-digit rally this year, but the digital asset has been struggling to break the $45,000 resistance lately. This level does not hold any historical importance because it has been easily breached multiple times. The same can be said for Bitcoin's $850 billion capitalization, which isn't anywhere close to silver's $1.4 trillion, or the Amazon and Google's $1.7 trillion....
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For DeFi believers, vindication has been every bit as profitable as it’s been sweet Hardcore decentralized finance (DeFi) adherents woke up today to a long-awaited sight on Coingecko’s top 100 rankings by marketcap: native tokens for popular DeFi platforms Synthetix and Aave have cracked into the top 20, an event DeFi observers have heralded as “The Great Repricing.”DeFi investors, users, and builders have long argued that the sector writ large is wildly undervalued relative to other cryptocurrency projects given DeFi’s growing userbases, cash flows from protocol fees, and soaring levels....
The Winklevoss twins say Bitcoin is “better than gold” as they continue to press for regulatory approval of their Exchange Traded Fund COIN. Bitcoin: The Greatest Social Network of All. Following their much publicized legal battle with Zuckerberg the twins were first introduced to Bitcoin in 2012. They were impressed by its possibilities to provide cheap, efficient banking services. Allowing accessibility to these for the ‘unbanked’ also inspired them. Tyler Winklevoss acknowledged: We see bitcoin as potentially the greatest social network of all. But more than this, they saw the potential....
Bitcoin is already a success story like no other. Will the Lightning Network ’s cheap transactions take the party to the next level? As our exploration of this new technology proceeds, we turn our heads to the ideas of Peter St Onge. Through his newsletter CryptoEconomy, he tells us about the Porcfest in New Hampshire. There, attendees transacted using the Lightning Network all through the festivities. Related Reading | How Big Is Bitcoin’s Lightning Network? The Answer Will Surprise You “It was on-the-ground confirmation of what the statistics are already saying: the Lightning....
Bitcoin and Ethereum are rarely compared beyond when discussing market structures and price trends, with their underlying fundamental values being wildly different. While Bitcoin is seen as a store of value and a “digital gold,” Ethereum is widely thought to be more of an ecosystem backbone. The vast majority of the actively used crypto space […]
With the launch of its new Bitcoin Fund LP, Anthony Scaramucci's SkyBridge Capital makes the case for bitcoin over gold. The post SkyBridge Capital Says That “Bitcoin Is Better At Being Gold Than Gold” appeared first on Bitcoin Magazine.