In a significant diversification move, Tether, the company behind the world’s most widely used stablecoin, USDT, has announced its first-ever investment of $100 million in the agriculture and food sector. This marks a new direction for Tether, which has traditionally focused on blockchain and cryptocurrency-related ventures.
Tether’s $100 million investment is aimed at supporting sustainable agriculture initiatives and enhancing food production efficiency through the integration of technology. According to the company, this move is part of its broader strategy to invest in industries that can benefit from innovation and technological advancement, while also supporting global sustainability efforts.
The decision to enter the agriculture and food sector reflects Tether’s recognition of the growing importance of food security and sustainable agricultural practices, especially in the face of climate change and population growth. With the global food system under increasing pressure, technological innovations in agriculture are seen as a key solution to improving food supply chains, reducing waste, and increasing productivity.
Paolo Ardoino, CTO of Tether, emphasized the company’s long-term vision, stating that this investment will help bridge the gap between traditional industries and the digital economy. “We see immense potential in leveraging technology to transform the agriculture and food industry. This investment represents our commitment to supporting projects that will have a lasting impact on the world,” said Ardoino.
While the exact details of the specific projects or partnerships involved in the $100 million investment have not been disclosed, Tether’s foray into this sector is seen as part of a broader trend where blockchain-based companies are increasingly looking at real-world industries to apply their technological expertise.
Tether’s move signals that stablecoin issuers may be looking beyond digital assets for growth, exploring how blockchain technology can be integrated with industries like agriculture to create more resilient and efficient systems. This strategic shift could pave the way for further investments in similar sectors, helping to drive technological innovation in the global economy.
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BITCOIN HITS 'HISTORIC' NEW ALL-TIME HIGH UNDERGOING ITS 3RD PARABOLIC ADVANCE IN THE PAST DECADE!!
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Bitcoin (BTC) hit new lifetime highs of more than $51,700 on Feb. 17 as it tackled what trader Peter Brandt confirms is a “parabolic advance.”
Data from Cointelegraph Markets and TradingView showed BTC/USD passing the $50,000 resistance level again on Wednesday, this time continuing into uncharted territory.
Tuesday had seen Bitcoin hit $50,000 for the first time ever, that level nonetheless failing to hold for more than a matter of minutes.
With its return, the largest cryptocurrency is in a “parabolic advance” — the fourth in its twelve-year history, analysts say.
“Big picture $BTC Bitcoin is undergoing its third parabolic advance in the past decade,” Brandt tweeted alongside an annotated price chart.
“A parabolic advance on an arithmetic scale is extremely rare – three on a log scale is historic.”
Responding, Kraken growth lead Dan Held noted that if counting its initial phase prior to 2012, there have in fact been four parabolic advances.
Brandt added that should the advance be violated, a correction of 80% is “most common” as a bearish consequence. Such behavior was observed in 2018 after Bitcoin peaked at near $20,000 — the market bottomed out at $3,100 one year later.
As Cointelegraph reported, various indicators nonetheless suggest that Bitcoin is far from violating any uptrend, being at the start, rather than the end of its bull run.
“$50,000 #Bitcoin is the new normal,” Blockstream CSO Samson Mow declared on Wednesday.
Discussing the new price highs, others noted that macro factors could converge to create a chain reaction of adoption, which would push Bitcoin further still into price discovery.
“If you think $50,000 a bitcoin is expensive, wait until you hear that the government is about to print $1,900,000,000,000 out of thin air,” popular Twitter account Documenting Bitcoin added.
Data meanwhile showed that Bitcoin had taken the momentum out of altcoin growth with its moves over the last few days, with all of the top ten cryptocurrencies except Polkadot (DOT) seeing sideways price action.
In other trending Bitcoin News today:
Bitcoin Selling At 36% Premium In Nigeria
It’s been roughly 11 days since the Central Bank of Nigeria banned all regulated financial institutions from providing services to cryptocurrency exchanges in the country. At the risk of stiff penalties, all banks and institutions were directed to close crypto-related firms’ accounts immediately.
In the wake of the controversial move, public interest in Bitcoin (BTC) in Nigeria continues to outstrip other countries, according to the latest available data from Google Trends. Even more stark is the hefty 36% premium on Bitcoin’s price as of the time of writing, Feb. 16.
The premium translates into a $71,150 price tag per Bitcoin, as compared with the average spot market price of $51,314 calculated in Cointelegraph’s price index. The premium is also incomparable to the five next largest premiums globally at present: 3.24% in South Africa, and between 1% and 3% in Argentina, Peru, Malaysia and Vietnam.
As a Cointelegraph analysis outlined last week, the immediate impact of the central bank ban appears to have done little to quell what its author dubbed the “hyperbitcoinization” of retail trading culture in the country.
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🚨HUGE NEWS🚨
Morgan Stanley has put in an application to the SEC to launch a #Bitcoin ETF!
Thia is the first Bitcoin ETF application filed this year.
If an ETF is approved #BTC price will sky rocket in minutes! 🚀
(Source: Coinspeaker) pic.twitter.com/Mb8XTDPwZX
— NebraskanGooner📈 (@nebraskangooner) February 17, 2021
Big picture $BTC
Bitcoin is undergoing its third parabolic advance in the past decade. A parabolic advance on an arithmetic scale is extremely rare – three on a log scale is historic pic.twitter.com/fyyM5Ws6N5— Peter Brandt (@PeterLBrandt) February 16, 2021
https://cointelegraph.com/news/bitcoin-selling-at-36-premium-in-nigeria
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AMAZON READY TO DEPLOY BITCOIN PAYMENTS?!! BTC BLAST THROUGH $44K, HITTING HIGHEST PRICE SINCE MAY!!
💰 BlockFi: (Up To $250 Bitcoin Bonus) https://blockfi.com/cryptonewsalerts
Amazon denied reports it will accept Bitcoin payments soon, but seemingly, it’s only a matter of time before the tech giants embrace the token economy.
Maybe Amazon really isn’t preparing to accept BTC as payment for its goods and services before year’s end, and perhaps Apple isn’t in fact adding $2.5 billion of Bitcoin to its balance sheet — although both events were reported recently, they are still unconfirmed. The question still remains: If and when the tech giants do commit, what impact will they have on the cryptocurrency and blockchain industry?
Would it spur crypto adoption or revive Bitcoin as a medium of exchange? Would it confer a seal of approval on digital assets and discourage governments from clamping down on blockchain-based tokens?
In other trending Bitcoin News today: Bitcoin’s price rallied to a multi-month high at $44,500 on August 7 and this allowed the digital asset to break free of the trading range it had been stuck in since May.
“BTC has successfully claimed the 200 day EMA as support, a long-term gauge of investor sentiment towards BTC. BTC has also successfully claimed the 21 week EMA as support, a bull market indicator. The market is getting bullish.”
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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.
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https://cointelegraph.com/news/ethereum-price-soars-above-3k-into-red-zone-triggering-sell-off-fears
https://cointelegraph.com/news/bitcoin-price-blasts-through-43k-hitting-its-highest-price-since-may
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RICH DAD AUTHOR DOUBLES DOWN ON BITCOIN AMID FEARS OF BANK ‘CRISIS’!! 0K BTC PRICE PREDICTION!!
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On a global scale, few actually own Bitcoin (BTC).
According to Robert Kiyosaki, the author “Rich Dad Poor Dad,” though, everyone should own the cryptocurrency ahead of the coming “banking crisis.”
This comment is in line with the sentiment of an impending collapse in banking and in the fiat currency system that Kiyosaki has extensively shared since the pandemic began.
Months ago, the tweets of financial educator and entrepreneur Robert Kiyosaki began to gain traction within Crypto Twitter.
Seemingly due to the pandemic, Kiyosaki began to fear that a collapse of the institutions that run the economy is entirely possible.
And according to him, owning gold, silver, and some Bitcoin is a smart way to hedge risks against this collapse.
On August 20th, he doubled down on this sentiment when he tweeted:
“WHY BUFFET is OUT OF BANKS . Banks bankrupt. MAJOR BANKING CRISIS COMING FAST. Fed & Treasury to take over banking system? Fed and Treasury “helicopter fake money” direct to people to avoid mass rioting? Not a time to “Think about it.” How much gold, silver, Bitcoin do you have?”
Kiyosaki added that along with a collapse in the banking sector, he is also expecting a secondary drop in the stock market that will be “bigger than March 2020,” when the S&P 500 plunged by approximately 40%.
Although it isn’t clear if Kiyosaki’s fears are valid, many analysts agree that owning BTC is more logical than ever due to stronger fundamentals than ever.
Real Vision chief executive Raoul Pal, who is a Wall Street veteran, said that all trades may be inferior to Bitcoin due to charts and fundamentals:
“In fact, only one asset has offset the growth of the G4 balance sheet. Its not stocks, not bonds, not commodities, not credit, not precious metals, not miners. Only one asset massively outperformed over almost any time horizon: Yup, Bitcoin. My conviction levels in bitcoin rise every day. Im already irresponsibly long. I am now thinking it may not be even worth owning any other asset as a long-term asset allocation, but that’s a story for another day (I’m still thinking through this).”
In other trending Bitcoin News today:
Analyst Josh Rager Is Holding This Crypto Asset Until It Hits $100,000 – And It’s Not Bitcoin
Crypto analyst and trader Josh Rager says he’s holding onto one altcoin until it surges to $100,000.
Rager tells his 80,000 followers on Twitter that he believes YFI has a ton of room to grow, if he can resist the urge to take profits.
“Bought three YFI around $2,500. Sold two way too early… Could be close to $50,000 combined value right now. But kept one and not selling until over $100,000. Current high so far over $16,100.”
Rager points out that YFI has already surpassed Bitcoin (BTC) in terms of price and it did so in a relatively short period of time.
“I guess 1 YFI does equal 1 BTC… Imagine buying Bitcoin a month ago at $2,000 and it shooting up to its current $12,000 value. Everyone would die for that opportunity. Well YFI just did that.”
YFI is the governance token of decentralized finance (DeFi) protocol yearn.finance.
It is dubbed as an “automated yield aggregator” as the platform scours all other DeFi protocols, locks in the one that offers the best yields, and deposits the funds in that specific protocol.
The process allows users to farm protocols that generate the highest yields.
While YFI offers an attractive use case, there’s always a risk of massive devaluation.
Yield farming platform YAM witnessed its market cap soar to nearly $60 million on August 13th only to collapse to $0 in a matter of hours, according to CoinGecko.
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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:
WHY BUFFET is OUT OF BANKS . Banks bankrupt. MAJOR BANKING CRISIS COMING FAST. Fed & Treasury to take over banking system? Fed and Treasury “helicopter fake money” direct to people to avoid mass rioting? Not a time to “Think about it.” How much gold, silver, Bitcoin do you have?
— therealkiyosaki (@theRealKiyosaki) August 21, 2020
Bought three $YFI around $2,500Sold two way too early…. could be close to $50k combined value right nowBut kept one and not selling until over $100k
Current high so far over $16,100 pic.twitter.com/PJFnRMcrVn
— Josh Rager 📈 (@Josh_Rager) August 20, 2020
https://cointelegraph.com/news/barstool-sports-founder-unprepared-for-bitcoin-exits-after-25k-loss
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