Balaji Srinivasan Explains $1M Bitcoin Bet Rationale, Says Could Take Longer Than 90 Days
Relating the chances of bitcoin reaching $1 million to the probability of some sort of Black Swan event in the U.S. economy, Srinivasan said he thinks there’s a 10% chance of a very serious issue in months, a 70% chance of one in years, a 19% chance within decades and a 1% chance it takes a century or more.
Related Posts
Bitcoin Rally Pauses Near $7.8K After Longest Winning Run in 8 Months
Apr 28, 2020 at 11:20 UTCBitcoin's bulls are taking a breather, having engineered the longest run of daily gains since last summer. At press time, the number one cryptocurrency by market capitalization is trading in a sideways manner around $7,730 on major exchanges, representing a 0.60 percent decline on the day, according to CoinDesk's Bitcoin…
Binance Endures $69M in Net Outflows Within an Hour, Amid SEC Charge: Nansen
Cryptocurrency traders are withdrawing funds from crypto exchange Binance as the U.S. Securities and Exchange Commission (SEC) sued the company and its CEO Changpeng “CZ” Zhao for violating federal securities law on Monday.Blockchain data shows that the exchange endured some $231 million in net outflows over the past hour, according to blockchain intelligence platform Nansen.Traders…
Bitcoin Stalls at $35K as Gains Flow to Altcoins in Crypto’s ‘Early Bull Market Rotation,’ Analyst Says
Bitcoin (BTC) tried and failed at holding above $35,000 this week, with one analyst arguing traders likely took their BTC profits and rotated into altcoins, pushing those prices higher.BTC price spent most of the week stuck between $34,000 and $35,000, with every attempt to break to the upside so far – even hitting a fresh
Former UBS Banker Launches Digital Securities Platform Tokenyz
Nov 27, 2019 at 14:00 UTCUpdated Nov 27, 2019 at 13:56 UTCFormer UBS Banker Launches Digital Securities Platform TokenyzA new startup launched by a veteran of global bank UBS is entering the increasingly crowded field of platforms for issuing digital securities on a blockchain. Claude Waelchli left the Swiss bank, where he was head of…
Bitcoin Futures Provider Bakkt Names Mike Blandina as New CEO, Adam White as President
Dec 23, 2019 at 13:44 UTCUpdated Dec 23, 2019 at 14:27 UTCBitcoin warehouse and Intercontinental Exchange subsidiary Bakkt officially has a new head.The company announced Monday that chief product officer Mike Blandina has become the new CEO of the company, effective December 20. He succeeds outgoing CEO Kelly Loeffler, who was recently appointed to become…
GM, BMW Back Blockchain Data Sharing For Self-Driving Cars
news Car giants General Motors and BMW are backing blockchain tech as a way to share self-driving car data among themselves and other automakers. It’s all part of a bid to unlock valuable data held in silos which will ultimately get autonomous vehicles on the road sooner. Exploratory work in this area is being done under…
Ethereum Handled Friend.tech Frenzy Without ‘Gas Fee’ Spike. Why That’s a Big Deal
Vitalik Buterin and other top Ethereum developers have repeatedly made the case that so-called “layer-2” projects – secondary systems that operate atop a blockchain to provide faster and cheaper transactions – could help to reduce congestion on the main network, and therefore fees.The de-congestion plan might actually be working, possibly aided by the recent rollout
Meme Coin Liquidity Hits Record High Even as Bid-Ask Spread Spotlights Risk
Record liquidity, measured by 1% market depth, suggests ease in executing orders and stable prices.Nevertheless, bid-ask spreads remain elevated, a sign the tokens are still considered relatively risky.Executing trades in prominent meme coins is easier than ever now that liquidity, as measured by 1% market depth, has surged to record highs, according to data tracked