Fun

News Feed - 2023-07-09 09:07:00

William Suberg20 hours agoBlackRock ETF stirs US Bitcoin buying as research says ‘get off zero’Bitcoin is a must-own as the world’s only truly scarce asset, analysis argues, as U.S. BTC accumulation takes a leg up.21133 Total views26 Total sharesListen to article 0:00Markets NewsJoin us on social networksBitcoin (BTC) will suck in “all prosperity gains” in future and leave behind those who have no exposure as a result, a new prediction says.


In a Twitter thread on July 8, investor Luke Broyles delivered a bold vision of how Bitcoin would become “society’s base money.”Investor tells would-be Bitcoin buyers: “Get off zero”


What started off as a commentary on how artificial intelligence (AI) is welcoming BTC soon became a dramatic outline of how it should end up as the world’s go-to currency.


For Broyles, Bitcoin’s key attribute — a fixed, immutable supply — makes it unique as a future-proof asset.


“Every innovation (even AI) will rush as quickly as possible to competitively force prices down. Every country will rush as quickly as possible to print currency to force prices up and sustain credit markets. Both of these forces will increase in speed,” he wrote.


BTC, meanwhile, will remain constant in its emission, and as a result, even a tiny exposure is a world away from nothing at all.


“We have less in common with the future than the past... Bitcoin is trading for hundreds of millions of political currency units in many nations already. But the ACTUAL big deal is that all prosperity gains from all future innovations will flow into society"s base money- BTC,” Broyles continued.“This is why it is CRUCIAL for people to ‘get off zero.’ Saying ‘Bitcoin is digital gold’ is like saying a locomotive is an iron horse.”Bitcoin supply dynamics data. Source: Luke Broyles/Twitter


His perspective chimes with that recently published by Arthur Hayes, former CEO of crypto derivatives exchange, BitMEX.


As Cointelegraph reported, Hayes believes that AI will instinctively choose BTC as its financial lifeblood, again thanks to its unique qualities compared to other assets, including gold.


As a result, AI alone could push the BTC price past $750,000 per token.BTC supply dominance hits “inflection point”


The race to secure the remaining BTC supply, meanwhile, may have already started.


Related: BTC price remains ‘undoubtedly bullish’ as $30K Bitcoin buyers emerge


Broyles argued that Bitcoin liquidity in fact peaked during the March 2020 cross-market crash, and will never retrace its steps since.


When the world’s largest asset manager, BlackRock, announced a Bitcoin spot-based exchange-traded fund (ETF) filing, meanwhile, U.S. BTC activity rocketed.


As noted by on-chain analytics firm Glassnode, the U.S. appears to be reassessing its own exposure.


“Following the Blackrock Bitcoin ETF request announcement on June 15th, the share of Bitcoin supply held/traded by US entities has experienced a notable uptick, marking a potential inflection point in supply dominance if the trend is sustained,” it commented on July 8.


An accompanying chart showed the differences in regional BTC supply ownership change.BTC Regional Year-over-Year Supply Change annotated chart. Source: Glassnode/Twitter


Magazine: Should you ‘orange pill’ children? The case for Bitcoin kids books


This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.# Bitcoin# Bitcoin Price# ETF# Markets# AI# PredictionsAdd reactionAdd reactionRelated NewsWho invented NFTs?: A brief history of nonfungible tokensHow to land a high-paying job as an AI prompt engineerWhat is prompt engineering, and how does it work?Bitcoin ‘overreacting’ as SEC returns ETF filings, BTC price dives 6%Bitcoin price has never lost more than 10% in July — Is 2023 different?Bitcoin analysis agrees BTC price may stall at $35K

News Feed

This Is How Much BTC You Need to Enter Bitcoin’s Elite 1% Club
This Is How Much BTC You Need to Enter Bitcoin’s Elite 1% Club Today there are 18,244,475 BTC in circulation and during the last few weeks, a number of bitcoin influencers have
Ripple Labs Is ‘Interested’ in Bankrupt Crypto Lender Celsius and Its Assets, Company Spokesperson Says
Ripple Labs Is "Interested" in Bankrupt Crypto Lender Celsius and Its Assets, Company Spokesperson Says According to a Ripple Labs spokesperson, the distributed ledger company is i
Ark Investment Study Suggests BTC Value Will Rise by $40,000 if All S&P 500 Companies ‘Allocate 1% of Their Cash to Bitcoin’
Ark Investment Study Suggests BTC Value Will Rise by $40,000 if All S&P 500 Companies "Allocate 1% of Their Cash to Bitcoin" According to the findings of a study
Popular Tezos NFT Marketplace Discontinues Services Without Explanation
Popular Tezos NFT Marketplace Discontinues Services Without Explanation After becoming one of the top non-fungible token (NFT) marketplaces, the Tezos-based NFT market Hic et nunc
Bitcoin Core’s Version 24.0 Full-RBF Proposal Sparks Controversy, Synonym CEO Calls ‘Pet Agenda’ an ‘Attack’
Bitcoin Core’s Version 24.0 Full-RBF Proposal Sparks Controversy, Synonym CEO Calls ‘Pet Agenda’ an ‘Attack’ During the last few weeks, a number of individuals have been
World’s Largest Monero Accepting Darknet Market Reveals Retirement Plan — White House Admins Say DNM ‘Reached Its Goal’
World"s Largest Monero Accepting Darknet Market Reveals Retirement Plan — White House Admins Say DNM "Reached Its Goal" One of the largest darknet markets (DNM), White House, ann
Helen Partz12 hours agoMt. Gox repayment date looming: Is Bitcoin in trouble?As the Mt. Gox October repayment deadline approaches, crypto observers expect a major industry event this fall.5966 Total views4 Total sharesLi
Donald Trump raked in over $7M from NFTs, new disclosure shows
Tom Mitchelhill3 hours agoDonald Trump raked in over $7M from NFTs, new disclosure showsFormer president Donald Trump disclosed that he owns up to $5 million in crypto and has earned over $7 million from his three NFT co
Turner Wright3 hours agoChangpeng Zhao’s tweet ‘contributed’ to collapse of FTX, claims Caroline EllisonThe former Alameda Research CEO placed part of the blame for FTX’s failure on CZ, while the Binance CEO clai
Alice Ivey10 hours ago5 real-world Python applications From web development frameworks to machine learning libraries, Python’s versatility is driving innovation across the board.2063 Total views28 Total sharesListen t
China Opposes Recent US Sanctions for Chinese Firms, Criticizes ‘Long-Arm’ Jurisdiction Policies
China Opposes Recent US Sanctions for Chinese Firms, Criticizes "Long-Arm" Jurisdiction Policies The government of China protested the enactment of sanctions on a series of nationa
Amaka Nwaokocha11 hours agoChamber of Digital Commerce opposes SEC’s overreach in Binance lawsuitUnited States-based advocacy group, the Chamber of Digital Commerce, claims the SEC employs the enforcement-based method