Morgan Creek Strategist Says Bitcoin (BTC) Flashing ‘Buy’ Like Early Days of Amazon – Plus News on Ethereum, Bitcoin Cash, Litecoin, Dash, and EOS
From betting on Bitcoin as a long-term play to booking travel plans with five more currencies, here’s a look at some of the stories breaking in the world of crypto.
Bitcoin
Crypto investor Mark Yusko says Bitcoin is a buy, despite dipping to the $8,000 range. Even if it dropped to $5,000, BTC is still a buy, according to Yusko, chief investment officer at Morgan Creek Capital Management, which advises pension funds, endowments and high-net-wealth individuals.
Appearing on CNBC, the investment strategist compares price volatility and the big bet on Bitcoin to Amazon. He enumerates a list of key indicators he believes give Bitcoin a lot of upside potential.
“Buy it. Because here’s the thing: the daily price of Bitcoin doesn’t matter. It’s been alive for 10 years. In every year, other than one – 2015 – it’s made a higher low.
The market cap has grown every single year. Every fundamental indicator of Bitcoin – usage, wallets, block size, transaction size, number of transactions, every single one – hash rate – making new highs.
All of the indicators of the network and the network value are rising. The price of any asset fluctuates. Let’s take Amazon. Amazon has been a public company for 20 years. In every year, including this year, it’s had a double-digit drawdown. The average peak-to-trough – minus 31%, twice minus 90%. When was the right time to sell? Never. Who’s owned it since the IPO to today? Jeff and his mom and his dad. That’s it.”
Ethereum (ETH)
Crypto payment processor BitPay is supporting Ethereum payments.
Starting this month, people can buy gift cards and top up BitPay cards using the world’s second largest cryptocurrency while businesses can accept Ether for client billing, e-commerce checkout and donations.
BitPay Will Soon Support Payments from the Ethereum Blockchain | The BitPay Blog https://t.co/Vtxv2AFxku pic.twitter.com/8vK1dyb4YX
— BitPay (@BitPay) October 7, 2019
Ethereum, Bitcoin Cash, Litecoin, EOS and Dash
Destinia, a leading online travel agency in Spain, has added support for five more cryptocurrencies, in addition to Bitcoin: ETH, BCH, LTC, EOS and DASH.
The crypto-friendly platform now allows customers to book their travel plans in crypto, including plane and train tickets, hotel accommodations and travel packages.
Dash
Crypto services provider Coinify has added support for Dash.
According to Dash News, Dash will now be available as a payment option at tens of thousands of additional merchants in 70 countries.
Dash will also be integrated into Coinify’s in-wallet trading API allowing users to buy and sell Dash, the world’s 18th-largest cryptocurrency by market cap.
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