Hedge Fund Veteran Bets on Bitcoin (BTC) Over US Stock Market – Plus Ripple and XRP, Ethereum, Litecoin, Bitcoin Cash, Cardano, Bitcoin SV, Dogecoin
From Bitcoin’s battle with the S&P to new support for seven digital assets, here’s a look at some of the stories breaking in the world of crypto.
The CEO of Morgan Creek Capital says he believes Bitcoin will continue to far outperform the S&P 500 for the rest of the year and beyond.
Mark Yusko told CNBC’s Fast Money no one is taking him up on his $1 million bet that BTC will beat the S&P through the next decade.
“I was lucky. I happened to be on Melissa’s afternoon show back in December, the week [Bitcoin] was at $3,150 and she said, ‘What do you think’? I said look, we’ve issued the Morgan Creek Digital crypto challenge. We will take Bitcoin over the next 10 years starting on January 1st, and we’ll take anybody who wants to take the other side – a million dollar charity bet. Just like the Buffett-style bet. We’ve got no takers.
Now, it’s a good thing they didn’t take it because Bitcoin is up over 100% this year, the S&P is up 14%. I think going forward from here, even over the next 10 years, it’s not going to be close. Bitcoin is a great diversifying asset. It has very low correlation. It should be on everybody’s portfolio.”
Ethereum, Bitcoin Cash, Litecoin, Bitcoin SV, Ethereum Classic, Dogecoin
Robinhood, the popular mainstream investing app that launched cryptocurrency trading in February, just received regulatory approval to open up for customers in the Big Apple.
Traders in New York can now invest in Bitcoin and six additional cryptocurrencies (ETH, BCH, LTC, BSV, ETC, DOGE) after receiving a BitLicense from state regulators.
Ripple and XRP
The Ripple-backed payment startup InstaRem says it will power cross-border payments for Kasikornbank, which is one of Thailand’s leading banking groups, reports Fintech Singapore.
“This relationship further cements InstaReM’s position as a leading provider for cross–border transactions. With InstaReM, KBank clients will be able to realize faster turnarounds, while providing certainty on delivery times and payout amounts.”
The startup, however, rumored to be considering the adoption of Ripple’s XRP-powered xRapid, has not said if it will use any of Ripple’s payment solutions to power the new partnership.
Cardano creator Charles Hoskinson just dropped a new video. Hoskinson talks about his biggest goals for 2019 and maps out when he believes real-world use cases will launch on the platform.