BITCOIN MILLIONAIRES – BTC Addresses Holding 1,000+ Coins On The Rise!

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Bitcoin Billionaires, the Winklevoss twins, believe BTC as “digital gold” would compete against gold over the long term, recently making the case for a $500K Bitcoin price.

Specifically, its immense upside potential makes it an attractive investment since the Bitcoin market capitalization is still roughly only 1.5% of gold.

Cameron Winkelvoss, the co-founder of Gemini, said BTC has already made significant ground on gold. He said:

“Bitcoin has made significant ground on gold — going from white paper to over $200 billion in market capitalization in under a decade. It will continue to cannibalize gold dramatically over the next decade.”

Warren Buffett and Berkshire Hathaway substantially cut their position on Wells Fargo, selling 100 million shares.

The Oracle of Omaha is continuing to trim his position in bank stocks, buoying the bull case for gold and Bitcoin (BTC).

Berkshire reportedly held $32 billion in equity in Wells Fargo at one point, Fox Business reported on Sep. 5. The investment conglomerate now owns 3.3% in equity of the lender, worth just $3.36 billion.

Throughout his career, Buffett emphasized the importance of value investing and cash flow.

The investor typically prefers businesses with predictable and stable operations that result in consistent profitability.

In July, Wells Fargo posted a $2.4 billion loss, recording its first loss since the 2008 housing crisis. Following the disappointing quarterly report, the company said it would cut its dividend to 10 cents per share.

But the persistent theme in Berkshire’s portfolio reshuffle in recent months is its investment in Barrick Gold.

While decreasing its exposure to the U.S. banking sector, Buffett invested in gold and Japanese trading companies.

The decision shows that Buffett is seeking safety in terms of cash flow and a hedge against inflation.

The Barrick Gold investment fuels the bull case of Bitcoin because the perception of BTC as a store of value is improving, especially given the tight correlation between the two since the March 2020 crash.

In other trending Bitcoin News today:

Perfect storm leads to big sell-off for Bitcoin and DeFi: Weekly Recap

A significant drop in equities markets was led by blue-chip stocks that had been at all-time highs.

As this occurred, many tokens tied to DeFi platforms corrected sharply, most notably, SushiSwap (SUSHI) which lost nearly 40 percent of its value.

The correction in traditional markets appears to have influenced Bitcoin’s (BTC) more than 10 percent drop before a small bounce back to the $10.3-$10.4K range.

Ethereum transactions soared to multiple new all-time highs for the second time in three weeks and Uniswap V2: Router 2 is now the lead contributor to gas usage, according to Etherscan.

The decentralized exchange is followed by Tether (USDT); and then the latest DeFi sweetheart that is SushiSwap: MasterChef LP Staking Pool.

And so, Tether has finally been dethroned from its top spot as the main contributor of gas usage.

The fact that it was toppled by none other than a DeFi platform speaks a lot for the recent growth of the industry and, as it stands, over $9.34 billion is locked across various platforms.

Currently, Aave, Maker and Uniswap constitute about $1.5 billion TVL each.

On the one hand, DeFi is a high risk, high reward market, but so is trading small-cap (pink sheet) stocks. Both clearly have a

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

#Bitcoin has made significant ground on gold — going from white paper to over $200 billion in market capitalization in under a decade. It will continue to cannibalize gold dramatically over the next decade.

— Cameron Winklevoss (@winklevoss) September 4, 2020

Buffett’s move into Japan, along with his $GOLD investment, confirms he’s getting out of $USD BIGLY $USD is trending lower today, about to break key support #Bitcoin – Gold – Silver

Will all make new ATH in the near term

— Max Keiser (@maxkeiser) August 31, 2020

Bought more $LINK and $YFL

Because Chainlink based asset tend to be some of the fasted to recovery post Bitcoin dips

— Josh Rager 📈 (@Josh_Rager) September 3, 2020

https://cointelegraph.com/news/buffett-dumps-wells-fargo-amplifying-bull-case-for-gold-and-bitcoin

https://dailyhodl.com/2020/09/03/analyst-says-hes-bullish-on-four-altcoins-after-big-bitcoin-and-crypto-market-sell-off/

https://cointelegraph.com/news/perfect-storm-leads-to-big-sell-off-for-bitcoin-and-defi-weekly-recap

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Right now, with the Bitcoin market cap sitting just under $1 trillion, BTC is only a very tiny fraction of the world’s assets combined. So in the grand scheme of crypto, this is why many analyst believe we’re still so early.

“If Bitcoin captures just 5% of the market cap of other assets on this chart, it’ll be worth over $2M/coin.”

In other trending Bitcoin News today: Bitcoin bears lack ‘balls’ to continue selling into 2022!

BTC bears will probably be too “stoneless” to keep prices down much longer, fresh Bitcoin price analysis argues.

In a Twitter series published Dec. 18, popular account Light summarized the events which led to Bitcoin’s recent 39% correction.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes & Resources:

https://cryptopotato.com/rio-de-janeiros-mayor-to-invest-1-of-the-citys-treasury-in-bitcoin/.%20%20megalopolis

https://cointelegraph.com/news/analysts-expect-turbulent-bitcoin-price-until-46-500-flips-to-support

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Bitcoin price broke out from a tightening range to rally above $9,500 but will BTC hold above the crucial resistance level?

Perhaps the move is purely technical as Bitcoin has been compressing into a tighter range of higher lows and lower highs since early June, or possibly investor sentiment has been buoyed by the following massive breaking Bitcoin news today:

US Banking Regulator Greenlights Crypto Custody at Federally Chartered Banks

The Office of the Comptroller of the Currency (OCC) has given permission to allow federally chartered U.S. banks to provide clients with crypto custody services. 

This is a positive step forward as it removes some of the rigamarole involved in acquiring and storing cryptocurrency, meaning, crypto investors will eventually be able to hold their digital assets in the same bank where they keep their checking, savings, and brokerage accounts. 

The recent announcement from the European Union to kickstart another $857 billion euro round of stimulus and the expectation that the U.S. Federal Reserve will follow suit with a $1 to $2 trillion economic stimulus package could also be boosting investors’ belief that as long as the Fed is printing, equities will rise and Bitcoin will soon make another run at $10,000. 

This issue has seen much skepticism, given that crypto wallets do not resemble the custody requirements of other sorts of assets. Nonetheless, in its interpretive letter on the subject, the OCC wrote: 

“The OCC recognizes that, as the financial markets become increasingly technological, there will likely be increasing need for banks and other service providers to leverage new technology and innovative ways to provide traditional services on behalf of customers.”

In the words of the announcement, the new opinion “applies to national banks and federal savings associations of all sizes.”

The OCC’s letter further specifies that bank “custody” of crypto assets is dependent on their access to the keys to the crypto wallets rather than any sort of physical requirement — a confirmation of Andreas Antonopoulos’ famous line of “not your keys, not your coins.” the OCC specifies:

“That national banks may escrow encryption keys used in connection with digital certificates because a key escrow service is a functional equivalent to physical safekeeping.”

In regards to the new rounds of stimulus Gemini exchange co-founder and CEO Tyler Winklevoss suggested that: 

“The Fed continues to set the stage for Bitcoin’s bull run.”

Central bank printing continues to push the markets higher In traditional markets, silver started off the week with a strong pump which completed a nice cup and handle pattern on the daily timeframe, and at the time of writing the asset is up 19.25% for the week. 

Gold has also continued its upward trajectory by pushing to a new high at $1,874 today. To date, gold has gained 29% since the coronavirus-driven market correction occurred in mid-March.

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DISCLAIMER: This is NOT financial advice. The views and opinions expressed in this video are just opinions, nothing more. Trading is very risky, especially when trading with leverage. Seek financial advice from a professional and trade at your own risk because I am not responsible for any investment decisions that you choose to make.

Show Notes / Resources:

Once there is attention, these illiquid altcoins then get a surge of buyersPushing the price up even more

You can see that with many defi alts $BAND caught on and ppl piled in, this week $ALEPH (both solid btw), next week will be be another

Always another trade to be made

— Josh Rager 📈 (@Josh_Rager) July 22, 2020

The altcoin chart set-ups that get the least engagement usually pump the hardestThat’s because most people arent in & that same mass of people won’t care unless you’re sharing about an asset they’re in

Until after that alt pumps – that tends to grab attention

— Josh Rager 📈 (@Josh_Rager) July 22, 2020

OK, there is the first lift in the BB Squeeze. Now we need to see follow through or we’ll be setup for real trouble, a Head Fake. $BTCUSD

— John Bollinger (@bbands) July 21, 2020

https://cointelegraph.com/news/us-banking-regulator-green-lights-crypto-custody-at-federally-chartered-banks

https://cointelegraph.com/news/bitcoin-price-rises-to-9-500-as-2-trillion-fed-stimulus-expected