Bitcoin: Why more and more institutions are jumping on the bandwagon

Bitcoin: Why more and more major investors are jumping on the BTC train

In Turkey, inflation has been rampant at times, with the Turkish lira depreciating by up to 30 per cent against the US dollar, the key currency. Some of the people threatened by inflation seek refuge in Bitcoin.

Inflation is a phenomenon that has become an integral part of today’s macro-economy. The ECB issues an inflation target of about two percent per year. Especially in times of economic unrest, this is intended to provide an additional incentive to consumption and investment. But the side effects bei Bitcoin Compass can be serious. Especially when inflation targets are missed or even deliberately opened up in order to make debt-financed public financing possible.

It is a privilege that Europe still has a relatively moderate inflation rate. You do not necessarily have to look to Venezuela or Argentina to see what happens when the money printer is running in a permanent state. High inflation also exists in Turkey, which is a direct neighbour of the EU. The Turkish lira has been in free fall since the beginning of the year and has already lost around 27 per cent in value by 2020.

It is therefore not surprising that Bitcoin is very popular in the Mediterranean state.

In Turkey, the Philippines or Argentina they are flocking to the Bitcoin market. The Bitcoin value proposition is simply more obvious for people who have to live with a dysfunctional financial system,

summarizes Dan Morehead, founder of the crypto-fund Pantera Capital, the Bitcoin promise in episode 279 of What

BlackRock economist believes Bitcoin is a long-term trend

More and more institutional investors are jumping on the Bitcoin train. Recently the international head investor of BlackRock, Rick Rieder, also announced his interest in BTC. The CIO told CNBC:

„It’s hard to say whether it’s [#btc] worth the price it is trading at today. But do I think it is a durable mechanism that-do I think could replace gold to a large extent? Yeah I do, because it’s so much more functional,“ says BlackRock’s Rick Rieder. #bitcoin #cryptocurrency.
– Squawk Box (@SquawkCNBC) November 20, 2020

Do I believe that this is a sustainable trend that could replace gold to a large extent? Yes, I do, because it is so much more functional.
Rick Rieder.

Even short revelation silk like this is food for the Bitcoin bulls. After all, BlackRock is the world’s largest asset manager with seven trillion US dollars AUM. While a few years ago hardly a rooster crowed for Bitcoin, more and more well-known representatives from the traditional financial sector are now jumping on the crypto train. If BlackRock were to take BTC into its programme with the help of an investment product, the crypto market would immediately have the most well-funded audience of all.

What do the Halvings mean for the share price?

The role of Bitcoin Halvings, i.e. the periodic halving of the inflation rate, for the share price is controversial. Authors such as PlanB, creator of the stock-to-flow model, see the halving events as a dominant factor in the process of price recognition.

Bitcoin enthusiast and author Nic Carter takes a slightly different view. In an interview with Bloomberg TV, the Bitcoin author sees exogenous factors such as the extremely expansive monetary policy of central banks as the main price drivers.

Will Ethereum 2.0 phase 0 rollout take place on December 1?

47,723 Ethers were sent by 232 validators unique to the deposit contract.

Vitalik Buterin has already sent 3,200 ETH or around $ 1.4 million.

The Bitcoin Evolution version deposit contract went live on November 4 . Is the deployment of phase 0 will take place on 1 st of December?

Preparation of phase 0 of ETH 2.0

The deposit contract serves as a bridge between the current Proof-of-Work (PoW) process and the new Proof-of-Stake (PoS) consensus. Thus, the deployment of phase 0 Ethereum was announced for the 1 st December, however, several conditions must be met before 23 November.

At least 16,384 validators different ETH must engage 32 before 1 st of December. This is more than 524,288 ETH (approximately $ 230 million) that will have to be blocked for a period of approximately 2 years. Indeed, these ethers cannot be withdrawn before the start of phase 1.5 or even phase 2.0.

If 524,000 ETH are not met before 1 st December when the Genesis block will be delayed for seven more days and so on until the funds are met.

Update 4 days after launch

According to data from Dune Analytics , ether holders have already sent 47,723 ETH, or around 9% of the total required. However, only 232 unique addresses made deposits, or 1.4% of the 16,384 validators required.

Vitalik Buterin, co-founder of ETH 2.0 himself sent 3,200 ETH or approximately $ 1.4 million to the deposit contract (100 transactions of 32 ethers via the address „VB2“ ). The co-founder owns around 367,000 ETH or around 163 million dollars at the current price.

Despite the good example of the founder, it seems unlikely that more than 16,000 validators are gathered for the deployment of phase 0 before the 1 st of December.

Bitcoin no blockchain TRON aumenta para 9.000

A blockchain TRON está vendo um aumento significativo na demanda de Bitcoin.

Atualmente, existem 9000 Bitcoin (TRC-20) no blockchain

A maior criptografia por capitalização de mercado, Bitcoin Trader vê forte demanda por seu blockchain, especialmente com seus aumentos de preço atuais. Sua demanda em outro blockchain também é notável. Diversas plataformas de tokenização evoluíram nos últimos meses, permitindo Bitcoins compatíveis com Ethereum para finanças descentralizadas (DeFi). Da mesma forma, o mercado DeFi em blockchain TRON vê uma demanda relativamente grande pelo token Bitcoin ERC-20.

Spike em Bitcoin no blockchain TRON

A partir de 1º de novembro, os Bitcoins no blockchain TRON aumentaram significativamente de 2.000 para 5.000, conforme o fundador e CEO, Justin Sun, tuitou enquanto comemorava o dia do white paper Bitcoin. Enquanto isso, os dados do TRONSCAN, o explorador de blockchain, mostram que o número total de Bitcoin na rede aumentou para 9.000. Isso envolve a adição de 4.000 Bitcoins no blockchain no espaço de 24 horas.

Bitcoin embrulhado em Tron

O enorme crescimento sugere um aumento da demanda por Bitcoin no blockchain TRON e seu mercado financeiro descentralizado. De acordo com TRONSCAN, os 9.000 Bitcoins no blockchain TRON estão em circulação atualmente mantidos por 2.179 endereços. Isso segue o anúncio recente do Wrapped Bitcoin (WBTC) na blockchain TRON. A equipe TRON tem trabalhado para permitir que sua comunidade aproveite os serviços oferecidos em seu blockchain rival, Ethereum.

Seguindo o aumento da demanda por Bitcoin em Ethereum por meio do token Wrapped Bitcoin (WBTC), Justin achou que vale a pena estrear um WBTC compatível com TRON na comunidade igualmente. Conforme relatado pela Cryptopolitan , a TRON fez uma parceria com a BitGo em 26 de setembro para lançar a versão TRC-20 do Wrapped Bitcoin. Muitas pessoas especularam que a mudança visava aumentar a participação no ecossistema DeFi do blockchain, como foi visto no Ethereum.