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Bloomberg: Billionaires Poised to Bet on Bitcoin Surge to $100,000 – Plus Ethereum, Ripple and XRP, Litecoin
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Altcoins July 17, 2019 Daily Hodl Staff

Bloomberg: Billionaires Poised to Bet on Bitcoin Surge to $100,000 – Plus Ethereum, Ripple and XRP, Litecoin

 

From a big bet on Bitcoin to a new listing for Litecoin, here’s a look at some of the stories breaking in the world of crypto.

Bitcoin

Institutional players with $10 million to $1 billion in assets are reportedly interested in betting on whether Bitcoin will rise to $100,000.

LedgerX, which recently received approval to launch Bitcoin derivatives trading from the U.S. Commodities Futures Trading Commission, is preparing to launch a call option that pays off if BTC breaks $100K by December of 2020, reports Bloomberg.

According to LedgerX CEO Paul Chou, the company’s clients are attracted to the big bet on Bitcoin.

“Dozens and dozens of these institutions got back to us saying we’d be interested in trading a contract like this. I understand $100,000 is a large number, but a lot of us who’ve been in this space remember Bitcoin at $1, and then it hit $10 and $100 and $10,000. A $100,000 contract doesn’t even make us blink.”

Ethereum

The latest edition of EthHub Weekly is out, covering all things Ethereum.

This week’s post looks at new developments on Samsung’s Ethereum-based Blockchain SDK, 0x, Kyber Network and more.

The SDK offers a payment gateway for cryptocurrency payments.

Ripple and XRP

Ripple’s global Head of government relations, Michelle Bond, sat down for an interview with Business Insider.

Bond says the fintech industry is still in its youth and regulators need to walk a fine line between protecting consumers and supporting innovation.

“These companies are starting to walk and talk, but we aren’t potty trained yet. The market is immature, and so regulators are playing an important role to make sure no one is getting hurt. At the same time, people will get hurt if innovation doesn’t happen.”

Litecoin

Binance Singapore has added support for Litecoin. Users can now buy LTC directly with the Singapore dollar.

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