Chorus of Bitcoin Bulls Call BTC at $357,000 – Plus Ripple and XRP, Tron, Ethereum, EOS, NEO, Cardano, IOTA
From the case for Bitcoin as the ultimate store of value to a new acquisition at Tron, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
The chorus of Bitcoin bulls who say BTC is digital gold is growing. In the past two weeks, both EOS founder Brendan Blumer and Galaxy Digital CEO Mike Novogratz said Bitcoin is poised to beat gold in the next couple of decades. Matching gold’s current market cap of about $7.5 trillion would place each Bitcoin at about $357,000.
Over the next two decades, #Bitcoin will replace #gold as the leading commodity to store value
— Brendan Blumer (@BrendanBlumer) March 17, 2019
A week after Blumer put Twitter on notice, Novogratz told Morgan Creek Digital’s Anthony Pompliano,
“We’re not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily.”
In December, venture capitalist Lou Kerner told Bloomberg,
“[Bitcoin] has an opportunity to actually replace gold as the dominant store of value, in which case it can go up more than 100-fold from where it is today.”
Now, the head of research at Blockchain.com and research associate at the London School of Economics, Garrick Hileman, is adding his perspective. As reported by Forbes, Hileman also says Bitcoin has cemented its status as digital gold. The next question is if and when central banks will dive in.
“The main use for Bitcoin today is as digital gold. The question is though, who will be buying digital gold? If central banks start to accumulate Bitcoin, that could be hugely impactful on Bitcoin’s price.
When regulation tightens, we’ve seen the Bitcoin price respond positively more often than not. It’s helped legitimize Bitcoin… regulators have, by and large, not sought to ban Bitcoin and other cryptocurrencies. In the early years of Bitcoin there was a fear that Bitcoin would simply be outlawed.”
Ethereum
Ethereum scaling solution developer Prysmatic Labs just released a new update on Ethereum 2.0. Prysmatic says its Ethereum 2.0 Phase 0 testnet is coming out soon.
“The goal of this testnet is to have a highly available network that is resilient to forks, validator inactivity, and allows new validators to join the network to participate in Proof of Stake consensus according to the rules of the protocol.”
Ripple and XRP
Ripple has released the latest episode of The Ripple Drop. This edition looks at Ripple’s new partnership with Bay Area non-profit Tipping Point, the company’s strategy in Asia, and a look back at Ripple Regionals Bangkok.
In addition, Ripple has posted a number of recent talks on its suite of cross-border payment solutions and XRP on its YouTube page.
Tron
Tron has purchased the blockchain app store CoinPlay. Tron says it will use the platform to give users a single location to browse and download a variety of decentralized applications.
“CoinPlay brings together a wide range of blockchain apps and DApps, providing one-click downloads of a variety of blockchain software and games, as well as practical guides, browser navigation, ratings, and indices of major currencies. In the future, it will support multi-platform multi-currency real-time quotes, multi-platform transaction volume/transaction price, and GitHub query.
It not only provides a comprehensive use of graphic tutorials for new users, but also includes high-quality content of the crypto industry, links to more high-quality projects and cryptocurrencies, and has also obtained strategic investment from well-known investment institutions and capitals.”
IOTA
IOTA just released part two of its overview on the Qubic Computation Model. Qubic is designed to vastly improve IOTA’s capabilities by enabling distributed computing and smart contracts on a global scale.
“In the first part of this series we have looked at a conceptual overview of the Abra specification, which describes how data flow is achieved within the Qubic Computation Model. In this second part, we will use the Abra specification to start implementing Qupla, a higher level programming language for Qubic.”
Cardano and NEO
Binance has added new stablecoin trading pairs for Cardano and NEO.
The coins are paired with Paxos Standard (PAX) and USD Coin (USDC).
#Binance Adds $ADA / $PAX, $ADA / $USDC, $NEO / $PAX and $NEO / $USDC Trading Pairshttps://t.co/7D0bYUyA2L pic.twitter.com/t2Z6TPromf
— Binance (@binance) March 26, 2019
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