Connect with us

Bitcoin

Modulus CEO: Bitcoin 2022 Indicates Big-Tent Movement for Democratization of Money

Published

on

bitcoin to Nigerian Naira - Investors King

With 25,000 attendees, Bitcoin 2022 started off with a bang in sunny Miami Beach. Still a majority of young men, this year’s convention saw a sharp increase in female and older participants. The conference included those who were new investors, as well as those who have long worked in the financial sector and, more generally, in fintech.

“From the reports I’ve seen, the big news coming out of this conference is the breadth of support for Bitcoin… people from all walks of life are converging around the idea that a universal, decentralized currency is a necessity of the 21st century,” said Richard Gardner, CEO of Modulus, a US-based developer of ultra-high-performance trading and surveillance technology that powers global equities, derivatives, and digital asset exchanges.

“I think when people see government converge with Big Tech to effectively shut down donations surrounding the trucker protest in Canada — regardless of where you stand on the political spectrum, it is easy to think… ‘Gee, if they can do it to them, they can do it to me, too,’” said Gardner.

“Cryptocurrencies offer something that works outside of the traditional system. It gives power to the individual rather than a governing body. Beyond that, in a topsy-turvy economic and political climate, folks are looking for ways to diversify their portfolios. Cryptocurrencies have become a political football, in some ways, but their strategic value transcends any one political party or ideology,” noted Gardner.

Modulus is known throughout the financial technology segment as a leader in the development of ultra-high frequency trading systems and blockchain technologies. Modulus has provided its exchange solution to some of the industry’s most profitable digital asset exchanges, including a well-known multi-billion-dollar cryptocurrency exchange. Over the past twenty years, the company has built technology for the world’s most notable institutions, with a client list which includes NASA, NASDAQ, Goldman Sachs, Merrill Lynch, JP Morgan Chase, Bank of America, Barclays, Siemens, Shell, Yahoo!, Microsoft, Cornell University, and the University of Chicago.

According to a Fox Business report, one attendee said bitcoin is about “democratizing money as we know it” and “removing power from central banks,” especially where necessary to flout authoritarian leaders and when fiat currencies are experiencing high inflation.

“I think, symbolically, one of the great things to come out of this conference is the diversity of opinion and worldview that was able to come together to support Bitcoin. Politically, speakers included Wyoming Republican Senator Cynthia Lummis, as well as Former Democratic presidential candidate Andrew Yang. Then there were thought leaders like University of Toronto professor and clinical psychologist Jordan Peterson, as well as sports figures like Aaron Rodgers and OBJ. It is clear that digital assets are a big tent movement,” said Gardner.

Is the CEO/Founder of Investors King Limited. A proven foreign exchange research analyst and a published author on Yahoo Finance, Nasdaq, Entrepreneur.com, Investorplace, and many more. He has over two decades of experience in global financial markets.

Continue Reading
Comments

Bitcoin

Bitcoin, Other Cryptocurrencies Gain on Monday

Published

on

bitcoin to Nigerian Naira - Investors King

Bitcoin, the world’s most popular cryptocurrency, on Monday slightly crossed over the $30,000 a coin resistance despite cryptocurrency space remaining largely flat since the Luna coin catastrophe.

A check by Investors King revealed that Bitcoin, Ethereum and other leading cryptocurrencies improved a little compared to last week.

In the last 24 hours, the world’s most dominant cryptocurrency asset has risen by 1.02% to $30,275.28 a coin. While in the last seven days the leading digital asset has gained 2.33% with its total market value improving to $575.085 billion. Investors transacted 875,447 bitcoins valued at $26.432 billion in the last 24 hours.

In the same vein, the second most capitalised cryptocurrency, ETH, the token of the Ethereum blockchain, appreciated by 1.90%  to $2,054.97 per coin in the last 24 hours and 2.48% in the last seven days.  Investors had transacted 6,782,909 ETH estimated at $13.902 billion in the last 24 hours to push ETH market capitalisation to $247.783 billion.

Tether (USDT), the world’s leading stablecoin, gained 0.02% in the last 24 hours to $0.9991. USDT market value also grew to $73.204 billion while investors exchanged 52,015,694,499 USDT worth $51.968 billion in the last 24 hours.

However, BNB, the token of Binance, the world’s leading cryptocurrency exchange platform, appreciated the most. Posting 5.47% in the last 24 hours and 12.48% in seven days. The CEO of the company CZ had said he only invested in tokens with a use case like Bitcoin and BNB. 

Over the years, he has warned people against investing in tokens without a use case and recently he has upped his warning, especially after the Luna coin plunged from $119 a coin to $0.00013 in a week.

“Even though BTC gained nearly 4 percent growth in the past 24 hours, it could not break the US$30,000 level. If BTC can break its initial resistance level at US$31,000 and US$32,000 this week, we may see an upward trend”, Edul Patel, the CEO and Co-founder of Mudrex stated on Sunday before Bitcoin extended its gain above the $30,000 level.

Continue Reading

Bitcoin

Bitcoin Plunges Below $30k as Cryptocurrency Market Recovers from Bearish Trend

Bitcoin still remains the number 1 crypto asset in the market with a market dominance of 44.57%

Published

on

bitcoin 2- Investorsking






Bitcoin (BTC), the world’s most dominant cryptocurrency, pared losses to trade at $29,844.20 a coin as the global cryptocurrency market recorded a surge of 4.87% over the last 24 hours.

Checks by Investors King on Coinmarketcap indicate that Bitcoin still remains the number 1 cryptocurrency with a market dominance of 44.57%.

The asset recorded gains of 0.57% in the last 24 hours but dropped 9.26% in the last seven days. The live market capitalisation of the asset is pegged at $564,744,032,506 USD, while the 24-hour trading volume of the coin stands at $31,166,243,069 USD.

While the global crypto market is recovering from the bearish trend that gripped LUNA Coin and other assets last week, only a few top cryptocurrencies have shown signs of recovery.

Bitcoin, which is one of the top-performing cryptocurrencies, hit a 24-hour low of $29,412.58 and a 24-hour high of $31,308.19.

However, the fundamentals show that some investors are holding on to their BTC. One of them is value investor, Bill Miller, who is still bullish about Bitcoin despite recent price declines.

The founder of Miller Value Partners told CNBC that he still owns lots of Bitcoin amid market volatility, noting that he is confident about the prospects of the asset.

Meanwhile, President Nayib Bukele of El Salvador has announced that a meeting of 44 countries to discuss Bitcoin and financial inclusion will hold on Tuesday, May 17.

Bitcoin’s popularity soared after El Salvador’s adopted the coin as legal tender. The meeting is expected to highlight the benefits of using Bitcoin.

”Tomorrow, 32 central banks and 12 financial authorities (44 countries) will meet in El Salvador to discuss financial inclusion, digital economy, banking the unbanked, the #Bitcoin rollout, and its benefits in our country,’’ Nayib Bukele said.

However, despite the popularity enjoyed by Bitcoin, the network has come under criticism over its proof-of-work (PoW) consensus algorithm which is energy-consuming.

The PoW consensus algorithm, which validates Bitcoin transactions, relies on computers run non-stop to verify transactions and create new blocks for the network, a process known as mining. Over the years the number of computers doing this work has also steadily risen, leading to huge energy consumption.

Sam Bankman-Fried, the CEO of the fast-growing crypto exchange FTX, recently highlighted this concern when he stated that Bitcoin is not a suitable payments network.

To be clear I also said that it _does_ have potential as a store of value. The BTC network can’t sustain thousands/millions of TPS, although BTC can be xfered on lightning/L2s/etc,” he told he told the Financial Times via a tweet.




Continue Reading

Bitcoin

Professional Investors Expect Major Improvements in the Regulatory Environment for the Crypto/Digital Asset Market

72% of wealth managers, pension funds and other institutional investors expect the regulatory environment for crypto/digital  to improve and become more constructive over the next two years

Published

on

Digital Start Ups - Investors King






According to new research from London-based Nickel Digital Asset Management (Nickel), Europe’s largest regulated and award-winning digital assets hedge fund manager founded by senior traders and investment professionals formerly from major financial institutions including Goldman Sachs and JPMorgan, 72% of wealth managers, pension funds and other institutional investors expect the regulatory environment for crypto/digital  to improve and become more constructive over the next two years. Nickel commissioned research with 200 professional investors from across seven countries who collectively manage around $329 billion in assets.

The study reveals 23% expect no change in the regulatory environment, and just 7% anticipate it will deteriorate.

Some 62% of professional investors expect Germany and the UAE to take a huge leap forward as market leaders in the crypto/digital asset space because of their proactive stance in developing a constructive and robust framework for the crypto/digital asset sector. However, this is likely to lead to other major countries following their lead as they fear missing out – this is the view of 63% of professional investors surveyed.

In terms of when professional investors believe financial regulators will agree a global framework for crypto/digital assets, 23% expect it to happen this year, 29% in 2023 and 28% in 2024, with the remainder anticipating it will take longer.

Overall, as regulation of the crypto/digital asset market develops, 20% of professional investors believe it will be a catalyst for a dramatic increase in wealth managers, pension funds and other institutional investors increasing their allocation to crypto and digital assets. A further 36% believe it will lead to a slight increase in their allocation.

Henry Howell, Head of Business Development, Nickel Digital, said:We are only at the very beginning of the digital asset sector, and the most exciting developments have yet to happen. Record inflows of venture capital in 2021, continued product innovation at the blockchain level and ongoing adoption of the largest players in traditional finance all point to growth of the already multi-trillion-dollar asset class.”




Continue Reading




Advertisement
Advertisement
Advertisement

Trending