Bitcoin Heading to $100,000!!! Crypto News Have Never Been So BULLISH!!!
First up, we have an article on decrypt.co stating that Tezos has just received a million-dollar deal from South America’s third-largest investment bank to launch its security-token offerings. Next, a Bitcoin ATM manufacturer has designed a software package that can turn 3 Million Traditional ATMs into Bitcoin ATMs. Furthermore, reported in a joint press release on July 3, the world’s first zero-fiat ‘Bitcoin Bond’ is now available for everyone. And the fourth news item for today, Binance’s chief strategy officer (CSO) Gin Chao believes that with the current trend, Bitcoin will soon reach the mark of $50,000. And finally, the CEO of Kraken the cryptocurrency exchange noticed that there have been massive inflows of fiat currency coming into crypto, affecting the prices of Bitcoin, Ethereum, XRP, and Litecoin. If you find these pieces of news interesting, just make sure you stay here with me right until the end.
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The Market Today
Let’s have a look at today’s crypto market. It looks like cryptocurrency holders are very optimistic. On the top 10 crypto tokens, it looks like all the coins are in greens. Bitcoin is once again heading to the $12,000 mark with an astonishing 8.46% surge within the past 24 hours. Following the trend, Ethereum and XRP also saw an increase of 2.96% and 1.43% respectively. Moving on to the top 20, the coins are still mainly in greens. While Cosmos and Monero are going up by 4.10% and 3.32%, Chainlink is dropping 1.43% after the bearish run last week.
Tezos has been chosen for security-token offerings (STO)
And now, let’s get straight on to the first news item for today. According to a report on decrypt.co, Tezos has been chosen by South America’s third-largest investment bank to use its blockchain for security-token offerings (STO). Specifically, BTG Pactual, the third biggest Latin American investment bank, and the Dubai-based asset manager Dalma Capital announced plans on July 4 to utilize the Tezos blockchain to launch a new STO. With this investment, the two firms want to “address a deal pipeline in excess of $1bn for existing and prospective token issuances” Andre Portilho, the BTG’s Partner responsible for the STO initiative, said in an interview:
“While the bank remains protocol and technology agnostic, and will continue to utilize the Ethereum protocol, we see Tezos as a global player with a robust blockchain for asset tokenization”.
So, why did they chose Tezos? Highlighted in the announcement, Tezos was referred to as a “self-amending blockchain” and smart contracts platform. Furthermore, Tezos is validated by proof-of stake and has on-chain governance, as opposed to the off-chain, proof-of-work model.
Will conventional ATMs be turned into BTC dispensing machines?
Moving on, per a report by Ethereum Worldnews, Robocoin, a Bitcoin ATM manufacturer, has recently announced its software package that can turn any conventional ATM into a BTC dispensing machine. For those who are unaware, data from the CoinATMradar.com says that there are currently 4,858 crypto ATMs and 3 million functional traditional ATMs in the world. So if Robocoin can really do that, it would be a real revolution for the ATMs. The software, named Coin SDK, was Robocoin’s initiative to encourage crypto mass adoption. With this software, any ATM can accept, transfer, or dispense cash alongside the digital currency. Besides the bright future, there are also some challenges they have to overcome. There were many software and hardware issues to grapple with. Additionally, the fees levied by crypto ATMs have been so high that many crypto enthusiasts find them impractical. Moreover, there is also an issue of regulation that puts crypto ATMs under a critic’s microscope.
The World’s First Zero-Fiat ‘Bitcoin Bond’s is available on Bloomberg Terminal
Let’s come to the third news for today. According to Cointelegraph, two European companies have launched what they announced as the World’s First Zero-Fiat ‘Bitcoin Bond’s’ and it is currently available to users on the Bloomberg Terminal. Luxembourg-based Argento, a securitization firm, and London Block Exchange (LBX) joined forces with each other to issue the bitcoin-denominated bond, which is regulated under Financial Conduct Authority (FCA), the United Kingdom’s regulator. Regarding this, CEO Benjamin Davies said:
“This is an excellent product for people who currently hold bitcoin and aren’t planning to sell over the next few years…,”
He also added that:
“Now, for the first time, they have an institutional grade way of making their wallets grow without exposing their bitcoin to the swings of the traditional ‘fiat’ currency markets.”
Bitcoin can increase as high as $50,000 to $100,000
Moving on, Gin Chao, Binance’s chief strategy officer said he believes bitcoin can increase as high as $50,000 to $100,000 in this current bull cycle, as per an interview with BlockTV. According to the CSO, the 2017 bull market saw a high degree of correlation between cryptocurrencies. The consensus is that retail hype across the market fueled by initial coin offerings (ICOs) drove up the total market value. He said:
“If you look at historical patterns you are probably looking at new highs at least for bitcoin in the $50,000-100,000 range.”
Kraken crypto exchange witnessed massive injections of fiat currency
And the final piece of news we want to share is posted on the Daily Hodl, noting that there are massive injections of fiat currency into the crypto sphere. Kraken CEO Jesse Powell says Kraken crypto exchange has witnessed huge amounts of fiat currency inflows this year, which highly correlates to the increasing supply of Tether. He said:
“I don’t have inside knowledge of what’s happening at Tether. But I can tell you that historically, when you’ve seen growth in the supply of Tether, we’ve seen growth in the supply of US dollars coming onto Kraken, and other exchanges would report the same.”. ”I think Tether is actually a small part of the total fiat supply among all of the exchanges. So I don’t think Tether alone is doing it.”
That’s all we got for today guys, do you have some thoughts to share with us?
Do you think that Tezos will be flourishing after the million-dollar deal with BTG Pactual and Dalma Capital?
Can Robocoin really turn traditional ATM into a BTC dispensing machine with just a software?
Are you going to buy the World’s First Zero-Fiat ‘Bitcoin Bond’?
Do you agree with Gin Chao about his optimistic view on Bitcoin rally?
And finally, is there a correlation between the fiat injection and the supply of Tether? Or it is just a coincidence?
Please feel free to comment down below. We are very happy to hear your thoughts. And if you want to be the winner of our giveaway for this week, just pop a comment, like and subscribe to our channel, you will get a chance to win $70 worth of Bitcoin. It’s Cindy with Cindy with CryptoPig. I’ll see you soon.
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Disclaimer: Cryptopig content is written by a team of blockchain passionate people. We are not registered as investment advisors. Don’t take the information in this post as investment advice and make sure you do your own research before investing. Cryptocurrencies are a very risky investment, never invest more money than you can afford to lose.