90% Millennials Prefer Crypto to Gold
According to Nate Geraci, president of the ETF Store, his millennial clients are clamoring to hold bitcoin in their portfolios – if only the SEC would let them. Responding to a question from Bloomberg analyst Eric Balchunas about whether he would ever invest client funds in a bitcoin ETF, Geraci stunned his fellow panel members when he said that millennial investors overwhelmingly desire to hold bitcoin instead of traditional hedge assets like gold. “…If you talk to, primarily millennials, and ask them which they prefer, bitcoin or gold, it’s a landslide. It’s not even close, it’s like 90% prefer bitcoin.”
Japan Checks Crypto Exchanges Ahead of G20 Summit
Japan’s Financial Services Agency is said to be scrutinizing cryptocurrency exchanges in the country to ensure anti-money laundering processes are in place. Inspections are being carried out ahead of the G20 summit next month. The G20 – the international forum of which Japan holds the presidency for 2019 – is planning measures to crack down on money laundering using cryptocurrency and, hence, the country aims to ensure that it has its financial house in order, they said.
Vitalik Buterin Proposes Mixer to Anonymize ‘One-Off’ Ethereum Transactions
“We need a first step toward more privacy,” Buterin, founder of the ethereum blockchain network, said Wendesday. Buterin proposed a “minimal mixer design” aimed at obfuscating user addresses when sending fixed quantities of ether. According to Buterin, users can transact in one of two ways. “The default behavior” is to send and receive ether from a single account, which, of course, also means that all of a user’s activity will be publicly linked on the blockchain. Alternatively, users can transact through multiple accounts or addresses. However, this too isn’t a perfect solution to obfuscating user activity on the blockchain.
Coinbase Commerce App Reaches $50 Mln in Trading Volume and Now Accepts USDC
The mobile app developed by Coinbase for online merchants has got over the figure of $50 mln in payment transactions after it was released in February last year. Since it was launched, the app has been accepting just a few coins – BTC, BCH, LTC and ETH, four of the top ten digital assets. Now the app registered a total trading volume amount exceeding $50 mln. This week, Coinbase Commerce added the USD Coin – a stablecoin, developed by Coinbase and Circle startup. The team of the app has made certain upgrades, so soon the mobile platform will be able to take all ERC-20 tokens as payment.
Dutch Caught Major Cryptocurrency Launderer
Dutch investigators have busted one of the biggest online money laundering services for cryptocurrencies worth hundreds of millions of euros a year. Tax and federal prosecution officers have confiscated six servers in the Netherlands and Luxembourg, taking the Bestmixer.io virtual currency mixing service offline. Bestmixer.io is one of the three largest online mixing services dealing in bitcoins, bitcoin cash and Litecoins, the FIOD said. It was started a year ago and has so far generated sales of at least 200 million dollars (25,000 Bitcoin).
Hedge Fund Veteran Bets $1M on Bitcoin – Says it Will Outperform S&P500
For traditional investors, Bitcoin and the related cryptocurrency market has not fully been taken seriously as an option to diversify with. However, 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. In fact, Mark Yusko, has put a $1 million bet on this fact, putting his money where his mouth is – the only issue is that no one has taken him up on this bet. Within the decade long bet, less than a year in, Bitcoin has taken an early lead as it is has grown by over 100% in this year alone, off the back of a bear market while the S&P is only up 14 percent.