walmart bitcoin news

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‘Buy Bitcoin‘ is emerging as the mantra against the ongoing global financial crisis.

The latest to join the cryptocurrency bandwagon is Chamath Palihapitiya, a billionaire venture capitalist with a history of investments in startups that Google and Microsoft would later acquire.

The Social Capital CEO was appearing on a CNBC daily to speak about the vast disconnect between a suffering economy and a cheering stock and bond market.

“We have completely divorced the economy from the stock and the bond markets,” Social Capital CEO Chamath Palihapitiya says. “The Fed has been the principal agent of that obfuscation.”

Before mentioning BTC, Palihapitiya criticized the U.S. Federal Reserve for launching a stimulus package that helped to inflate assets instead of helping taxpayers and consumers. He added that the central bank’s move neither solved income disparity nor unemployment.

What it did was allowing a few entities to play the financial markets to make more money.

The conversation shifted to the deflationary aspects of the Fed’s stimulus.

While Palihapitiya praised the Fed’s efforts to protect the U.S. economy amidst the coronavirus pandemic, he warned that the central bank’s decision to purchase corporate debt ETFs and balloon its balance sheets further could quicken “a really bad deflationary supercycle.”

When the question about where investors should put their capital as the economy shrinks popped, Palihapitiya recommended Bitcoin.

The veteran praised the cryptocurrency for its lack of correlation with other traditional assets.

He suggested that the feature alone could help investors obtain insurance against a deflating economy, citing Paul Tudor Jones, the founder & CEO of a $22 billion hedge fund, for taking a similar approach.

“Now all of a sudden even he is looking at bitcoin and the reason is [that] we are in this massive deflationary cycle,” said Palihapitiya. “I still struggle to find anything that is as uncorrelated to anything and to everything else than bitcoin.”

BITCOIN ADOPTION ON WALL STREET

Tudor Jones, on Monday, had told CNBC that he is holding about 1-2 percent of his net portfolio in the Bitcoin futures.

The billionaire investor, like Palihapitiya, commended the cryptocurrency for behaving as an insurance against the Fed’s massive money printing.

In other trending Bitcoin News today:

Crypto Milestone: Banking Giant JPMorgan Chase Provides Bitcoin (BTC) Bridge for Coinbase Customers The largest bank in the United States is singing a new tune about Bitcoin.

JPMorgan Chase is now offering banking services to cryptocurrency exchanges Coinbase and Gemini in a pivotal and critical turn for Bitcoin and digital assets as an emerging mainstream form of money.

The Wall Street Journal reports that JPMorgan Chase will allow Coinbase and Gemini customers based in the US to make ACH (automated clearing house) withdrawals and transfers, marking the end of the bank’s anti-crypto era led by CEO Jamie Dimon, the industry’s most outspoken crypto critic.

Dimon called Bitcoin “a fraud” in September of 2017. The chief executive went a step further when he threatened to fire any “stupid” employees caught trading the cryptocurrency.

That position has melted in the wake of the macro economic landscape that is awash in money printing, instability, mounting debt, shrinking GDP and a tumultuous stock market that has left investors looking for a hedge.

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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:

2014: “Bitcoin is a terrible store of value,” said Jamie Dimon2015: “Bitcoin will not survive”2016: “Bitcoin is going nowhere”2017: “Bitcoin is a fraud”2018: “I don’t really give a shit about bitcoin”

2020: –>https://t.co/rAWTvg2zL3

— Barry Silbert (@barrysilbert) May 12, 2020

“Buy Bitcoin,” Another Billionaire VC Tells Investors Looking to Escape Massive Deflation

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Bitcoin (BTC) bulls estimate that the bitcoin price of each coin could hit $20,000 very soon thanks to rising demand.

But there are some who believe that the BTC price could very well go on to hit 6-figures in the future, including Morgan Creek Digital CEO Mark Yusko.

In a recent interview, Yusko said that the price of Bitcoin could eventually hit $500,000 thanks to its scarce supply, increasing demand, and advantages over a safe-haven investment such as gold.

According to Yusko, there’s $7.4 trillion worth of gold in the world.

He believes that bitcoin is a much better asset than gold because it can be transferred easily and divided into smaller parts.

To arrive at his forecast, Yusko equated the gold market’s value to that of the digital asset. He said:

“So if we get the amount of value in total Bitcoin market value or network value equal to gold, that’d be about $7.4 trillion divided by 21 million coins, although there aren’t really 21 million left, and you get around $400,000 a coin, maybe $500,000 a coin. Now, when does that happen? It’s probably over a decade or maybe even more.”

Another Bitcoin bull John McAfee recently shared on Crypto Twitter:

“In 5 years BTC is up 4082.52% in last 52 weeks it’s up 129.10% in the last month it’s up 10.33% & last 5 day’s its up 1.71%. Fuck FIAT”

In other BTC news today, the Bitcoin price still has potential to dive to $5,500, yet macro uptrend still intact.

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Trezor: ► http://trezor.cryptonewsalerts.net

Ledger: ► http://ledger.cryptonewsalerts.net

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:

the golden cross is here for 2020 but it still might dive 5.4-5.6k (0.786 Fib), unless we start closing weekly 8k+I wouldn’t mind cheap ₿₿₿ for Christmas personally🎅🎁Reminder:

Decembers have almost always provided us with extremes and pivots. U ready for when it comes? pic.twitter.com/XFk6ORaZbH

— Crypto₿irb (@crypto_birb) December 14, 2019

In a period where: —political tensions escalate between US and China, —global equity markets fall sharply—VIX largest spike in many months

—global yield curves flatten/invert#bitcoin has RISEN and >$6,000

Crypto showing its value as an uncorrelated asset.

— Thomas Lee (@fundstrat) May 9, 2019

One other clue that we use to determine this, especially in channels, is the ability for price to leave the channel on these climaxes. See here for the example of $BTC when it hit the top after it’s markup.Price leaves the channelVolume is huge

Wyckoff clues say top pic.twitter.com/KPVHUYpgB9

— Cold Blooded Shiller (@ColdBloodShill) December 7, 2019

https://www.ccn.com/bitcoin-price-500000-beats-gold-mark-yusko/

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