The 10 Best Cryptocurrencies to Buy in September 2021

Cryptocurrency is booming like never before these days. Many investors are looking forward to investing in cryptocurrencies with their gaining popularity. But sometimes they fall into a dilemma of deciding on what tokens to invest upon. So here we are with the best cryptocurrencies to buy this September in the highly volatile crypto market. Why late? Let’s quickly scroll down to know more.

1 Bitcoin (BTC)

Market Cap: US$790.32 Billion

Bitcoin was established in 2008 by Satoshi Nakamoto. The cryptocurrency is decentralized digital money that can be exchanged directly from one user to another on a peer-to-peer basis on the bitcoin network. Bitcoin tops the list of 10 best cryptocurrencies to buy this September. Cryptography is used by network nodes to validate transactions that will be further recorded on a blockchain which is a public distributed ledger. Even though bitcoin is highly volatile in the crypto market it still remains the best cryptocurrency to buy.

2 Ethereum (ETH)

Market Cap: US$335.53 Billion

Ethereum is also a decentralized digital platform that enables the creation and execution of DApps and smart contracts without any need for third-party fraud, control, downtime, and interference. Ethereum has always been in the second position on the best cryptocurrencies to buy. It is a permissionless, non-hierarchical collection of servers that produce and reach consensus on the ever-evolving networks of blockchain. The cryptocurrency has also been in competition with Bitcoin in the crypto market.

3 Tether (USDT)

Market Cap: US$68.68 Billion

It was priorly known as Real coin, later to be known as Tether. It is the first cryptocurrency to be backed by the US dollar. Tether was established in 2014, whose crypto tokens are insured with an equal number of traditional fiat currencies such as the dollar, pound, and yen. Tether is a stable coin that makes it to the list of the best cryptocurrencies to buy. It is also a blockchain-based cryptocurrency backed by fiat currencies.

4 Cardano (ADA)

Market Cap: US$65.16 Billion

Cardano is an open-sourced project and a cryptocurrency system that aims to build an open public blockchain for all payment systems. Its internal coin is called Ada. It is also one of the decentralized blockchain platforms which use the native cryptocurrency. Cardano makes it to the list of best cryptocurrencies to buy in the crypto market with its plans to enable smart contacts too.

5 Bitcoin Coin (BNB)

Market Cap: US$59.23 Billion

BNB was developed by Binance, which is a major cryptocurrency exchange. It is an ERC20 token that is based on Ethereum. The best part is that it can be used to pay a commission for purchase on the exchange. Did you know that a total of nearly 200 million tokens were manufactured for the currency? As per the Whitepaper, Binance plans to use 20% of its earnings each quarter to buy back and burn BNB until 50% of the total BNB supply has been burned, making it to the list of best cryptocurrencies to buy in the crypto market.

6 XRP

Market Cap: US$42.90 Billion

XRP is made by Ripple Labs that aims to create secure and fast payment systems which can work globally. This cryptocurrency is also perceived as the most reliable cryptocurrency, having a huge loyal base of investors. Hence making it to the list of best cryptocurrencies to buy this September.

7 Solana

Market Cap: US$38.05 Billion

Solana is a highly functional open-source project that banks on blockchain technology’s permissionless nature in providing decentralized finance. Solana was established in 2017 and launched in 2020 by Solana Foundation. Though it was launched late into the crypto market, it made it to the best cryptocurrencies to buy this September.

8 USD Coin

Market Cap: US$29.87 Billion

USD Coin is a digital stable coin that is again pegged to the US dollar as Tether. The goal of this cryptocurrency is to make transactions faster than traditional payments reducing the volatility which is present in the crypto market. This point makes the USD Coin take place in the list of best cryptocurrencies to buy in September.

9 Polkadot (DOT)

Market Cap: US$26.88 Billion

Polkadot is a kind of cryptocurrency which aims to make blockchain interoperability accessible to the general public. The decentralized internet of Polkadot allows different blockchains to share information and data via the Polkadot relay chain. This cryptocurrency provides a bridge for networks to build on Polkadot that can also work on Ethereum and Bitcoin. Even though it is faster and scalable, it makes the list of best cryptocurrencies to buy in the crypto market.

10 Dogecoin (DOGE)

Market Cap: US$26.77 Billion

Dogecoin was eventually created as a joke by software developers, Billy Markus and Jackson Palmer. It was created to mock the crazy crypto market at that time. But when SpaceX launched its first cryptocurrency-funded space mission, that’s when Dogecoin funded ridesharing flight to the moon. This has earned Dogecoin a much higher mining rate since its inception. But this cryptocurrency’s craze has been gaining a lot of attention these days making it into the list of best cryptocurrencies to buy.

Ethereum is also a decentralized digital platform that enables the creation and execution of DApps and smart contracts without any need for third-party fraud, control, downtime, and interference. Ethereum has always been in the second position on the best cryptocurrencies to buy. It is a permissionless, non-hierarchical collection of servers that produce and reach consensus on the ever-evolving networks of blockchain. The cryptocurrency has also been in competition with Bitcoin in the crypto market.

Source: https://coingraph.uno/2021/10/22/the-10-best-cryptocurrencies-to-buy-in-september-2021/

Modern Maids Now Accepts Bitcoin, Other Cryptocurrencies

Customers Now Enjoy Even More Convenience and Savings

DALLAS, Oct. 22, 2021 (GLOBE NEWSWIRE) — Modern Maids, the Dallas area’s premier residential cleaning service, is making it even easier to book and pay for its white-glove services. The company recently announced that it will accept Bitcoin and other leading cryptocurrencies as payment for any of its extensive line of one-time, regularly scheduled and deep-cleaning maid services.

“As our name suggests, Modern Maids is an early adapter. We embrace state-of-the-art cleaning techniques and products,” said owner and CEO Justin Carpenter. “So, it is natural for us to become one of the first residential cleaning services in Texas to offer our customers this emerging payment option. We are proud to be counted among some of America’s most respected firms in accepting crypto, including our own Dallas Mavericks.”

Carpenter said that accepting Bitcoin and other digital currencies brings several advantages to all Modern Maids clients, whether they are homeowners, apartment dwellers or property owners, throughout the uptown and downtown Dallas areas, as well as Irving, Grapevine, Plano, Frisco, Arlington and most of the Metroplex’s northern and western suburbs.

“With all our connected devices, security and privacy have become a greater concern for all of us,” he said. “Our clients can pay their invoices without divulging any personal or financial data that could be intercepted. I feel that accepting Bitcoin and other crypto assets helps us achieve a new level of modern experience. Within the next decade, we could be seeing a huge rise in cryptos and want to be a business that helps lead that path.”

Modern Maids already has revolutionized the home and apartment cleaning industry with its professionalism and ease of use. The company is intent on providing customers quality service and the peace of mind that comes with knowing they will be coming home to a spotless space where they can relax, recharge and prepare for their next activity. Engaging Modern Maids is not just affordable, but it can also give customers more time to be productive, earn more money, and spend quality time with their loved ones.

About Modern Maids

Modern Maids (www.modern-maids.com, 469-430-8860) provides certified, experienced, background-checked cleaning professionals directly to customers’ homes. Clients can book a convenient time online. Using non-toxic, environmentally friendly products whenever they are available, Modern Maids offers not only “routine” and “deep cleaning services,” but also move- in/move out care so renters can recover their deposits and lessors can quickly prepare their properties for the next tenant.

Contact Information

Justin Carpenter, CEO
2500 McKinney Ave, Dallas, TX 75201
469-430-8860
services@modernmaidsdallas.com

This content was issued through the press release distribution service at Newswire.com.

Source: https://finance.yahoo.com/news/modern-maids-now-accepts-bitcoin-130000053.html

Russian Oil Companies Propose to Mine Cryptocurrencies at Their Wells

October 22, 20210 Comments

Companies involved in oil production in Russia have come up with a project to organize the mining of cryptocurrencies right next to the oil fields they are exploiting. Data centers devoted to coin minting can be powered by the excess gas released during oil extraction which would otherwise be wasted.

Ministries and Central Bank Review Crypto Mining Project by Russian Oil Industry

Government institutions in Moscow are now discussing an initiative launched by Russia’s oil companies to start mining cryptocurrency at their extraction sites. The industry is proposing to utilize associated petroleum gas (APG) to generate electricity that can be used in the energy-intensive process of digital coin minting.

Experts say the project can potentially attract foreign investors, primarily from China where authorities have been cracking down on bitcoin mining this year. The industrial activity is effectively banned in the People’s Republic while in the Russian Federation mining isn’t prohibited although it is not properly regulated either.

The Ministry of Industry and Trade has recently asked the Ministry of Digital Development and the Central Bank of Russia (CBR) for their feedback on the idea, Russia’s leading business daily Kommersant reported, quoting a letter sent by the Deputy Minister of Industry Vasiliy Shpak. His department asks the monetary authority in particular whether this would be a legitimate undertaking.

The main act regulating cryptocurrencies in Russia is the law “On Digital Financial Assets” which went into force earlier this year. Additional legislation is needed, however, regarding their circulation in Russia and related operations. The legalization of crypto mining as an industrial activity has been gaining support in government circles with the chairman of the parliamentary Financial Market Committee, Anatoly Aksakov, stating in September that it should be registered as such and taxed accordingly.

Kommersant also quotes a source close to the Ministry of Industry who revealed that one of the large Russian oil companies already has a crypto mining project underway and would like to scale it up. “But this segment is in a legally gray zone and the company fears a negative reaction from the central bank, so it turned to the Ministry [of Industry] which can discuss the risks with the regulator,” the knowledgeable person told the newspaper.

According to available official information, so far only the state-run Gazprom Neft, a subsidiary of Russian energy giant Gazprom and third-largest oil producer in the country, has an actual mining project. The company launched it at its oil field in Khanty-Mansi Autonomous Okrug, a region in Tyumen Oblast. According to a report from January, the oil giant managed to mint 1.8 BTC in a month. Gazprom Neft declined to comment on the matter.

Do you think authorities in Moscow will allow Russian oil companies to mine cryptocurrencies at their oil wells? Tell us in the comments section below.

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Source: https://cryptocurrencysecretnews.com/2021/10/22/russian-oil-companies-propose-to-mine-cryptocurrencies-at-their-wells/

Analyst who was correct with the 40% increase in cryptocurrencies in September now points to 6 cryptoassets to watch in November

After the approval and introduction of the ProShares Bitcoin (BTC) ETF, which opens another gateway for investors around cryptocurrencies, Analysts practically agree that the next price target for BTC is to hit $ 100,000.

To the Ray Nasser, Arthur Mining CEO, Bitcoin ETF trading on the NYSE is paving the way for a better quality ETF, and reaching the $ 100,000 mark will still be possible in 2021.

“Bitcoin has just beaten the Swiss franc in terms of market capitalization. If it hits $ 69,000 it will outperform silver, and I think there is a chance that BTC will hit $ 100,000 or more by the end of the year. It is optimistic that the USD 135,000 ”he concluded.

This is the same opinion from Lake Tasso, Cryptocurrency specialist and founder of Financial Move. For him, the market is now heading for $ 100,000.

“The most anticipated ETF in the market is Grayscale, which will convert its $ 19 billion into an ETF. With this breakout and a favorable scenario for Bitcoin, we will move the market towards $ 100,000, ”he says.

Ethereum and PolkadotAnalyst who was correct with the 40% <a href=increase in cryptocurrencies in September now points to 6 cryptoassets to watch in November” width=”832″ height=”451″>Analyst who was correct with the 40% increase in cryptocurrencies in September now points to 6 cryptoassets to watch in November

However, as far as Bitcoin’s next steps are safe, Analysts differ in which cryptocurrency will follow in BTC’s footsteps and soar more than 100% to new highs.

For Lago, Ethereum (ETH) is a strong candidate as it has already shown that its price is solid and can keep up with Bitcoin’s rallies.

“Ethereum also followed the move, trading at $ 4,129 at the time and has its all-time high (based on the closing price of the daily chart) at $ 4,200 I think that can reach the region of USD 6,000 and then USD 8,000”.

The analyst recalls that ETH went through EIP-1559 and London, the updates of which reduce the supply of the currency and have not yet been reflected in the price increase. Hence the fundamentals are strong.

In addition, for him is another cryptocurrency with high potential Polkadot (DOT) due to its unique property of parachets.

“DOT, which is going through Parachains auctions, has its favorable curve to break historical high, which is in the range of $ 48. In general, the cryptocurrency market is extremely bullish and very favorable for another positive wave, ”he said.

6 cryptocurrencies to buy

As Tasso, analyst and moderator at Altcoin Daily, Austin Arnold points out that cryptocurrencies linked to smart contracts have the greatest upside potential in this new cycle.

Arnold got it right back in August this year when released a review stating the purchase of six cryptocurrencies for the month of September. Since then, its figures have risen almost as much as Bitcoin over the reporting period.

While BTC is up 54%, The altcoins reported by the analyst rose to 49% and none of them were in the red, with Vocational Education up 49%, Tezos 44%, ETH 49%, Atom 12% and ADA 8%.

Now the analyst has published a new list of his nominations and it has to Polygon (MATIC) firstly, which, in his opinion, is gaining momentum after signing an alliance with DraftKings.

Arnold shares a statement from DraftKings President of Global Products and Technology, Paul Libermann, explains how the company positions itself to grow with Polygon.

“Although the DraftKings market is still in its infancy, we are optimistic that blockchain, NFT, cryptocurrencies and more will be showcased alongside Polygon and new innovations for digital collectibles as we prepare for Web 3.0.”

Polkadot and Vechain

After Matic, Arnold stands out, as does Tasso Lago, Polkadot. To justify your nomination, please note a Tweet Latest news from DOT founder Gavin Wood, who explains that close to 19 million DOT tokens are currently stored in the DOT treasury to fund community projects.

If a DOT is not used, it will burn out. Currently, the Polkadot Treasury burns 239,988 tokens every month. after Gavin Wood.

• The DOT token is becoming increasingly scarce when it is burned or used. We recently saw an increase in the price of DOT. This could be related to some interesting future developments, such as the upcoming launch of Parachain and Slot auctions; these parachain auctions will also take DOT off the market.

And with the first 11 Parachains auctions coming to Polkadot next month, along with 100 or more slots available, this could bolster Polkadot’s presence in the crypto industry and cement the growing status of the cryptocurrency industry. .

The third coin Arnold looks at is again VeChain (VET). The trader notes that VeChain recently partnered with major logistics company DHL for the corporate issuance of non-fungible tokens, NFT.

“This collaboration with DHL China is one of the first things customers can experiment with customizing the DHL mascot and then embossing it as an NFT in the VeChainThor blockchain solution.”

Cardano, Link and Ethereum

Next up is the smart contracts platforms Cardano (ADA). Arnold points this out Cardano appears to be gaining traction after partnering with satellite television provider DISH and announcing that the network has received $ 100 million to invest in Cardano-focused projects in Africa.

The analyst also states Chain link (LINK), notes that despite the token’s poor performance in recent months, He believes LINK still has great upside potential as partnerships continue to grow month by month and 84 integrations were made in September alone.

“I understand, but in my opinion Chainlink still has a lot of room for growth. Think about it: Chainlink already has a ton of great exclusive partnerships with big companies, Google and Oracle, to name just two, already over 75 different blockchains. use Chainlink technology and are used by many data sources including USD currency pairs [dólar estadounidense]. It’s a solid foundation.

Finally, the analyst is also enthusiastic about the leading smart contracts platform, Ethereum, which is said to be preparing for a massive 2022.

He notes that the developers of Ethereum has announced that the network will switch to Ethereum 2.0 from May to June 2022. making the blockchain a proof-of-stake protocol.

“The code should be ready by February 2022. The merger with the mainnet, for ETH 2.0, in June 2022 at the earliest. Next year will be known as the ETH year. There it is. DeFi (decentralized finance), that’s where the NFTs are .

Disclaimer of liability: This is not an investment recommendation. Every investment must be accompanied by an in-depth study and investors must take their own risk in making their decision.

Source: https://www.europeworldnews.com/analyst-who-was-correct-with-the-40-increase-in-cryptocurrencies-in-september-now-points-to-6-cryptoassets-to-watch-in-november/

Some investors are putting more money into cryptocurrencies than stocks

Bitcoin on display.

Chesnot | Getty Images

Investors who are bullish on cryptocurrencies are betting more on the digital assets than stocks.

In September, crypto investors put an average of $263 into accounts dedicated to coins, more than the average $250 they put in traditional brokerages during the month, according to a recent survey from Cardify.

“Month over month, the amount that users are putting into either crypto or traditional investments have shifted,” said Amber Foucault, head of product at Cardify. So far this year, nearly 25% of the money that investors are putting away is going to cryptocurrencies, a big jump from 5% last year, she added.

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Many of the volatile assets have seen solid performance in recent days. On Wednesday, bitcoin jumped more than 4% to top $66,893.22, an all-time high for the cryptocurrency. The digital asset is up about 130% year to date.

The asset price was supported by the Tuesday launch of the ProShares Bitcoin Strategy ETF, which tracks bitcoin futures. Other cryptocurrencies have also risen on the positive sentiment. Ethereum jumped about 7% Wednesday to $4,087. XRP and Cardano also gained Wednesday.

Learning while investing

The shift towards favoring cryptocurrency over stocks is being driven by novice investors — 70% of those surveyed have been trading the assets for less than a year, according to Cardify.

Most cryptocurrency investors surveyed wouldn’t consider themselves experts on the digital assets, possibly because some of them are new to the game. A majority said that they only have a limited or moderate understanding of cryptocurrency, despite putting money into different coins.

“It’s a little scary because we’ve got this whole economic underbelly that’s literally built on FOMO [fear of missing out],” said Foucault, adding that Cardify can see an influx of investment in cryptocurrency when there’s a spike in social media mentions, such as when Elon Musk hosted NBC’s “Saturday Night Live” on May 8.

Generally, financial experts would advise new investors to do their due diligence before jumping into a risky asset.

“If you’re seeing what’s going on and you find it exciting but don’t know enough about it to make a decision, continue to educate yourself,” said Douglas Boneparth, certified financial planner and president of Bone Fide Wealth in New York. “Don’t be discouraged; take it as an opportunity to learn more about it to see if it makes sense to you.”

In September, crypto investors put an average of $263 into accounts dedicated to coins, more than the average $250 they put in traditional brokerages during the month, according to a recent survey from Cardify.

Source: https://www.cnbc.com/2021/10/20/some-investors-putting-more-money-into-cryptocurrencies-than-stocks.html

Love them or hate them: Cryptocurrencies are here to stay

Bitcoin has come a long way since someone or a group of someones under the name Satoshi Nakamoto wrote a paper in 2008 about how to harness computing power around the world to create a digital currency that can’t be double-spent.

Love cryptocurrencies or hate the very idea of them, they’re becoming more mainstream by the day.

Cryptocurrencies have surged so much that their total value has reached nearly $2.5 trillion, rivalling the world’s most valuable company, Apple, and have amassed more than 200 million users. At this size, it’s simply too big for the financial establishment to ignore.

Firms that cater to the world’s wealthiest families are increasingly putting some of their fortunes into crypto. Hedge funds are trading Bitcoin, which has big-name banks starting to offer them services around it. PayPal lets users buy crypto on its app, while Twitter helps people show appreciation for tweets by tipping their creators with Bitcoin.

And in the latest milestone for the industry, an easy-to-trade fund tied to Bitcoin began trading on Tuesday. Investors can buy the exchange-traded fund from ProShares through an old-school brokerage account — without having to learn what a hot or cold wallet is.

It’s all part of a movement across big businesses that see a chance to profit on the fervour around the world of crypto as a new ecosystem further builds up around it, whether they believe in it or not.

“The one thing you can say for certain is that the advent of the era of the Bitcoin ETF opens up the opportunity for Wall Street to make money on Bitcoin in a way that it hadn’t been able to previously,” said Ben Johnson, director of global ETF research at Morningstar. “The winners in all of this are the exchanges and the asset managers and the custodians. Whether investors win or not is a big, bold question mark.”

Bitcoin has come a long way since someone or a group of someones under the name Satoshi Nakamoto wrote a paper in 2008 about how to harness computing power around the world to create a digital currency that can’t be double-spent. The price has more than doubled this year alone to roughly $62,000. It was at only $635 five years ago.

Supporters of cryptocurrencies say they offer an important benefit for any investor: a price that moves independently of the economy, rather than changing with it like so many other investments. More high-minded fans say digital assets are simply the future of finance, allowing transactions to sidestep middlemen, with fees tied to a currency that’s not beholden to any government.

Critics, meanwhile, question whether crypto is just a fad. They say it uses too much energy and point to all the stiff regulatory scrutiny around it. Last month, China declared Bitcoin transactions illegal, for example. The Chair of the United States Securities and Exchange Commission Gary Gensler said in August that the world of crypto doesn’t have enough investor protection and that “it’s more like the Wild West.”

That hasn’t been enough to halt the immense momentum for crypto, as it’s gone from an online curiosity to a bigger part of the cultural and corporate landscape.

In a survey by Citi Private Bank, which manages money for wealthy people at offices around the world, roughly 23 percent said they have made some investments in crypto. Another 25 percent said they are researching it.

The growing acceptance of crypto on Wall Street has created a new crop of darlings that help people buy it. Crypto trading platform Coinbase has a market value of roughly $64bn, for example, putting it on par with such established companies as Colgate-Palmolive, FedEx and Ford Motor.

In the end though, what many on Wall Street see sticking around may not be so much Bitcoin and other cryptocurrencies, but the technology that underlies them.

Called the blockchain, it allows for a public ledger that everyone can check and trust — and many expect it to lead to a wealth of innovations. It’s akin to today’s Netflix, Facebook and other services that sprung out of the infrastructure built during the boom and bust of the dot-com bubble.

JPMorgan Chase, for example, is already using blockchain technology to improve fund transfers between global banks. That’s the same JPMorgan Chase run by CEO Jamie Dimon, who said in an interview with Axios this month that Bitcoin has “got no intrinsic value”.

Source: https://newsdaylight.com/2021/10/20/love-them-or-hate-them-cryptocurrencies-are-here-to-stay/

Cryptocurrencies pose a threat to effectively enforcing sanctions, says US Treasury Department

US Department of the TreasuryThe Treasury Department sees sanctions risks in cryptocurrencies.

Getty Images

  • Cryptocurrencies threaten the effectiveness of sanctions imposed by the US, the Treasury Department said.
  • Treasury said “malign actors” can use digital assets to hide cross-border transactions.
  • It also said the US government needs to modernize and adapt to the changing world of global finance.

Cryptocurrencies hold the potential to undermine sanctions the US imposes to advance its security and economic interests, the Treasury Department said in a report.

The US has more than 9,400 sanctions in place, but the country faces newer challenges in part from cybercriminals, the department said in a review released Monday. The government must adapt and modernize its operations to stay on top of changes in global financing, it said.

“Technological innovations such as digital currencies, alternative payment platforms, and new ways of hiding cross-border transactions all potentially reduce the efficacy of American sanctions,” said Treasury, which met with members of Congress, the private sector, foreign governments, and others to prepare the 2021 review.

“These technologies offer malign actors opportunities to hold and transfer funds outside the traditional dollar-based financial system. They also empower our adversaries seeking to build new financial and payments systems intended to diminish the dollar’s global role,” it said.

Sanctions became “a tool of first resort” after the September 11, 2001, terrorist attacks against the US to address threats to national security, foreign policy, and the economy, Treasury said.

But now American adversaries and some allies have been reducing their use of the US dollar and their exposure to the US financial system. “We are mindful of the risk that, if left unchecked, these digital assets and payments systems could harm the efficacy of our sanctions.”

In suggesting steps to modernize, Treasury said it needs to improve its communication and coordination with stakeholders affected by the use of financial sanctions.

It added that “Treasury should invest in deepening its institutional knowledge and capabilities in the evolving digital assets and services space to support the full sanctions lifecycle of activities.”

  • It also said the US government needs to modernize and adapt to the changing world of global finance.
  • Source: https://markets.businessinsider.com/news/currencies/digital-assets-cryptocurrencies-threat-effectiveness-sanctions-security-treasury-transactions-financial-2021-10?op=1

    ‘Big Short’ investor Michael Burry not shorting Bitcoin, warns ‘Cryptocurrencies Are in a Bubble’ – Markets and Prices Bitcoin News


    'Big Short' investor Michael Burry not shorting Bitcoin, warns 'Cryptocurrencies Are in a Bubble'

    Hedge fund manager Michael Burry, famous for predicting the 2008 financial crisis, has confirmed that he has not short-circuited cryptocurrencies, including bitcoin, despite speculation he may have. His confirmation came after he recently asked how he was going to short crypto.

    Michael Burry says he does not map cryptocurrencies

    The famous investor and founder of the private investment company Scion Asset Management, Michael Burry, confirmed to CNBC on Friday that he has not short-circuited bitcoin or other cryptocurrencies.

    Burry is best known for being the first investor to predict and profit from the US subprime real crisis that occurred between 2007 and 2010. He is profiled in “The Big Short”, a book by Michael Lewis about the real crisis that was made to a film starring Christian Bale.

    He told CNBC on Friday:

    I have not abbreviated cryptocurrencies at all. And I’m not now … I think cryptocurrencies are in a bubble and most people in it do not understand it well.

    Many people in the crypto community believed that Burry was short-circuiting bitcoin, as the price of the cryptocurrency was $ 30K, after putting in a BTC price chart, suggesting that it would be a good time to short. Burry never confirmed or denied whether he was short-circuiting bitcoin until now.

    The crypto community became even more convinced that Burry was shortening bitcoin or considering doing so when he tweeted Wednesday:

    Ok, I have not done this before, how do you short circuit a cryptocurrency? Do you need to secure a loan? Is there a short discount? Can the position be pressed and called in? In such fleeting situations, I tend to think that it is best not to short-circuit, but I think out loud here.

    When Burry tweeted and asked about the shorting of cryptocurrencies on Wednesday, the price of bitcoin was around $ 58K. It then shot up over $ 62,000. At the time of writing, the price of BTC is $ 61,011 based on data from Bitcoin.com Markets.

    Bitcoin price chart. Source: Bitcoin.com Markets

    Comments flooded Twitter in response to his tweet about short-circuiting cryptocurrencies with many people mocking his knowledge of crypto. Burry deleted the tweet about five minutes after it was sent. While the Big Short investor routinely deleted his tweets, it was usually not minutes after they were sent. He then deleted his entire Twitter account on Friday, leading some people to suspect that he left Twitter because of the responses he received from his cryptotweet.

    Trader Scott Melker, also known as “The Wolf of All Streets”, commented: “Let me get this right. Michael Burry from ‘Big Short’ fame asked how to short circuit bitcoin, was destroyed by crypto Twitter and then rage stopped Twitter completely , because he could not cope with the answers? “

    Burry also recently criticized the shiba inu (SHIB) token after the price of the coin rose 230%.

    What do you think of Michael Burry’s comments? Let us know in the comments section below.

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    Image credits: Shutterstock, Pixabay, Wiki Commons

    Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or approval of products, services or companies. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is directly or indirectly liable for any damage or loss caused or alleged to be caused by or in connection with the use of or dependence on the content, goods or services referred to in this article.

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    I have not abbreviated cryptocurrencies at all. And I’m not now … I think cryptocurrencies are in a bubble and most people in it do not understand it well.

    Source: https://newsofamerica.org/2021/10/18/big-short-investor-michael-burry-not-shorting-bitcoin-warns-cryptocurrencies-are-in-a-bubble-markets-and-prices-bitcoin-news/

    Brazilians Have Acquired $4B in Cryptocurrencies in 2021, Central Bank Says

    Brazilians acquired $496 million in cryptocurrencies in August and have already acquired $4.27 billion so far in 2021, the country’s Central Bank (BCB) disclosed on Friday.

    According to the Brazilian monetary authority, May was the peak of the cryptocurrency acquisition, with $756 million in purchases. Since then the figure dropped to $695 million in June and $583 million in July, but was still higher than in February and March. At that time $386 million and $357 million were acquired, respectively, Brazilian media outlet Portal do Bitcoin reported.

    Doing a mark-to-market estimation, total digital assets held by Brazilians would add up to nearly $50 billion, compared to $16 billion held in U.S. stocks, BCB’s monetary policy director, Bruno Serra, said on Friday.

    In August, BCB’s president, Roberto Campos Neto, said that Brazilians held about $40 billion in cryptocurrencies.

    “It’s a very big business, it attracts the attention of regulators all over the world, it’s not just in Brazil,” he said.

    According to Serra, Brazil’s monetary authority has a “very controlled foreign-exchange market” that allows it to be aware of crypto-related transactions. “We have foreign-exchange contracts for all transactions, 100% of them we are able to map,” he said.

    As of August, the transfer of ownership of cryptocurrencies between residents and non-residents began to be disclosed by the Central Bank in the “Goods” part of the payments balance, Portal do Bitcoin reported., Cryptocurrencies are considered goods – or, non-financial and produced assets – following the International Monetary Fund’s recommended methodology.

    According to Serra, crypto investing is a search for wealth diversification by investors. “I think this offshore diversification dynamic is a dynamic that may be here to stay. Diversification channels have opened up a lot. Foreign exchange regulations are loosening in this regard; it’s something we need to address,” he said.

    “It’s a one-way flow. Because of the cost of energy, Brazil does not produce crypto assets. It is only an importer,” Serra added.

    “It’s a very big business, it attracts the attention of regulators all over the world, it’s not just in Brazil,” he said.

    Source: https://finance.yahoo.com/news/brazilians-acquired-4b-cryptocurrencies-2021-162444796.html

    Economics Professor Warns ‘Cryptocurrencies May Contribute to Monetary and Financial Instability’ – Economics Bitcoin News

    Cornell University’s professor of economics and former head of the IMF’s China division, Eswar Prasad, has warned that “Cryptocurrencies may contribute to monetary and financial instability.” He added that the risk is amplified if the industry is unregulated and lacks investor protection.

    Economist Sees Crypto Posing Risks to Financial Stability

    Eswar Prasad, the Nandlal P. Tolani Senior Professor of Trade Policy and professor of economics at the Charles H. Dyson School of Applied Economics and Management at Cornell University, shared his view on cryptocurrency in an interview with CNBC, published Wednesday.

    Prasad is also a senior fellow at the Brookings Institution, where he holds the New Century Chair in International Economics, and a research associate at the National Bureau of Economic Research. He was previously chief of the Financial Studies Division in the research department of the International Monetary Fund (IMF) and head of the IMF’s China division.

    He said:

    Cryptocurrencies may contribute to monetary and financial instability, especially if they were to spawn a large and unregulated financial system that lacks investor protection.

    His statement echoes a report recently published by the IMF cautioning that the rising popularity of cryptocurrency could pose a threat to financial stability. Moreover, the deputy governor of the Bank of England, Jon Cunliffe, said this week that regulation is urgently needed since the crypto industry is growing rapidly, and there are some “very good reasons” to think that it could pose risks to the country’s financial stability in the future, even though the risks are currently limited.

    Professor Prasad was also asked how cryptocurrencies could widen economic inequality. “Cryptocurrencies and their underlying technology hold out the promise of democratizing finance by making digital payments and other financial products and services easily accessible to the masses,” he replied. “But because of existing inequalities in digital access and financial literacy, they could end up worsening inequality.”

    In addition, he emphasized that “any financial risks arising from investing in cryptocurrencies and related products might end up falling especially heavily on naïve retail investors.”

    The Cornell professor of economics also discussed central bank digital currencies (CBDCs), stating:

    I think central bank digital currencies are the way of the future. But every central bank will want to make sure that its money is not used for illicit purposes, so transactions will be auditable and traceable.

    However, Prasad noted that “if every payment you make, including for a cup of coffee or for a sandwich, can be seen by a government agency, that’s an uncomfortable proposition.” The economist concluded: “You could, in a more dystopian world, have the government deciding what sort of goods and services its money can be used for.”

    Do you agree with the economics professor? Let us know in the comments section below.

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    Cryptocurrencies may contribute to monetary and financial instability, especially if they were to spawn a large and unregulated financial system that lacks investor protection.

    Source: https://cryptoshameless.com/2021/10/economics-professor-warns-cryptocurrencies-may-contribute-to-monetary-and-financial-instability-economics-bitcoin-news/