Bitcoin hits all-time high of $28.4K and rising !
- Thread starter crazed 9.6
- Start date
yup.
It's not great news thou.
The Run is always good news for investors looking for quick gains... but the reasons behind it are not so great.
I fear soon that the Banks and Governments will control the crypto market. And especially with the physical dollar being pushed out of the business sector, meaning more and more business are not taking physical dollars. The push to use credit cards is crazy, but it is happening. It will add to our personal debts due to the interest rates are a killer with credit cards and not even counting the monsters behind the credit companies.
Debit cards as well will be accepted thou,so there is still that.
I watched/listened to a Senate meeting the other day about all this. I did not like what I heard
Many analysts have been saying to use dollars as much as possible, so it's actively still in use and would be harder to end it.
Quoted below is from a newsletter which my online Exchange sends me.
C/P
Bitcoin prices continue to rally as Wall Street doubles down on crypto
Around this time last year, crypto began the historic surge that culminated in spring’s all-time highs — a rally driven partly by Wall Street and corporate America’s increasing adoption of BTC. Since the start of October, Bitcoin has rallied nearly 20% as the S&P 500 has remained mostly flat. And with investments in the sector setting records — crypto firms raised $6.5 billion in the third quarter of 2021 — it’s clear that institutional crypto adoption wasn’t just a fad. Let’s dig into Wall Street’s latest crypto moves.
Banking giants are increasingly offering clients crypto products. U.S. Bank, the country’s fifth-largest bank, announced it will offer Bitcoin custody services for fund managers — joining players working on similar products including Bank of New York Mellon and Northern Trust. And in its first-ever research report dedicated to crypto, Bank of America noted, “We believe crypto-based digital assets could form an entirely new asset class.”
Global firms and fund managers are also considering ETH, DeFi, and blockchain tech. A CoinShares report found that 42% of institutional respondents said they were most bullish about ETH; French investment bank Société Générale posted about potential DeFi offerings on an established crypto forum; and Visa outlined a “Universal Payments Channel” — a flexible network for digital currencies, including CBDCs.
George Soros’ fund revealed that it holds BTC. Speaking to Bloomberg, Soros Fund CEO Dawn Fitzpatrick said, “I think it's crossed the chasm to mainstream." Elsewhere, J.P. Morgan analysts suggested that Bitcoin may be a better hedge than gold, an idea echoed by billionaire Chamath Palihapitiya.
Meanwhile, Bloomberg analysts predict that four BTC futures ETFs could be approved by the end of October. ETFs — which provide investors exposure to an asset class without having to hold the asset themselves — are popular components of retirement-savings plans.
Why it matters… Wall Street’s conventional wisdom around crypto has flipped in the last year — from high-risk bet to a mainstream component of a diversified portfolio. In a recent interview, legendary investor Bill Miller explained some of the appeal: "Bitcoin is a lot less risky at $43,000 than it was at $300. It's now established, huge amounts of venture-capital money have gone into it, and all the big banks are getting involved."
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To hold any of Crypto in todays market one needs to have a hard wallet, and a proven faraday cage.
With the sunspot activity increasing some places may lose all magnetic and potential data.
I think BC will have no problem passing the 100 G mark, It depends on the timing of the peak.
Not to that point yet, but the basis of Crypto is electronic worldwide electronic data and one MUST back up his data and keep the keys to the vault safe. It is not like having silver or gold.
With the sunspot activity increasing some places may lose all magnetic and potential data.
I think BC will have no problem passing the 100 G mark, It depends on the timing of the peak.
Not to that point yet, but the basis of Crypto is electronic worldwide electronic data and one MUST back up his data and keep the keys to the vault safe. It is not like having silver or gold.