Chamath Palihapitiya, a billionaire, says bitcoin is the insurance for uncertain times. BTC is going to race past $200,000 as investors can use an uncorrelated hedge.
A news post on cointelegraph stated that billionaire investor Chamath Palihapitiya had urged investors to use Bitcoin as insurance for uncertainty. According to Palihapitiya, the price of BTC has risen over the last few weeks, racing the $40000 mark sublimely.
The venture capitalist Palihapitiya feels that asset is largely untied to governmental authority BTC can be used as global uncertainty. Palihapitiya says that in a few years’ time, BTC has the potential of even going past $200,000 at some point.
Digital Article, a community of bloggers, had this to tweet on Chamath Palihapitiya, seeing Bitcoin as an insurance against uncertainty.
Palihapitiya adds that each time one sees what is happening around them, some leaders may not lean towards the public. They are not like before and reliable. Palihapitiya told in an interview on Thursday to CNBC.
Palihapitiya also says that investors need to have insurance under their pillows. This will help them be prepared for unwanted problems if they arise. Already the world is reeling due to the pandemic, which was quite unexpected.
He suggests that all have some kind of uncorrelated hedge. BTC does not work or operate within borders and is mostly run by the public. They decide how things are going to happen in Bitcoin. Palihapitiya supports that by saying in October 2020, Fidelity, in its report, suggested that Bitcoin did not have a price correlation to alternative markets.
BTC is going to be into some form of transition, but for right now, there are these data points. According to the US Commodity Futures Trading Commission, BTC is classified as a commodity. However, recent action shows an increase in the regulatory overwatch that happens in the crypto market.
Algorand (ALGO) Wants $100 billion Use Case in a New Partnership
Algorand (ALGO) wants a $100 billion use case in a new partnership. The blockchain plans on being deployed for a large institutional client.
A news article on cryptoslate said that Algorand, which is a high-speed blockchain for secure and efficient frictionless exchange, is partnered with Instimatch Global. This is a digital platform that specializes in design short-term money market trading for institutions.
Instimatch Global can process a hundred of billions of dollars in transactions every quarter. They have been able to design a majority for passing the Algorand network.
Tony Anderson is a market analyst, had this to tweet about Algorand (ALGO) situation eyeing $100 billion use case.
Daniel Sandmeier, who is the CEO at Instimatch, felt that this is a step in the right direction. The partnership ensures that they are able to disrupt the regulated payment networks using advanced but simple solutions.
They also want to build out use cases that are not used from the current financial regime. The COO of Algorand, Sean Ford, too, felt the same as they share similar visions. Together both firms understand the need for designing advanced money market systems as FX is more efficient and frictionless.