Month: September 2020

BTC

What Top Us Politicians And Potus Election Candidates Think Of Bitcoin

Cryptocurrencies or virtual currencies are always a point of debate since their inception. Many people favor them, while many people have points that devalue the currency. It is interesting to find the opinion of top politicians in this regard. Many politicians in the US do not have a positive opinion about cryptocurrencies in general, as the decentralized nature of such currencies will pose a threat to their way of working with the central banks. However, as elections near, they are not in a position to reject donations made through cryptocurrencies. In this regard, let us look at what some top politicians in the US feel about Bitcoin.

Donald Trump has always been open about his dislike for Bitcoin, and he had even tried to accuse such currencies as not valuable. He has said that he is not a fan of Bitcoin. Many experts in the market blame Trump for the slow growth of the crypto industry in the US. However, Brain Brooks of Bitcoin was appointed as COO of the Office of the Comptroller of the Currency in March by the Trump administration.

Even though he has not openly supported Bitcoin, Joe Biden is said to be a supporter of Bitcoin. He is seen as a strong supporter of technology and innovation. He had even commented on the Internet as being neutral. The political action committee even accepted donations in Bitcoins since 2016.

Bernie Sanders has not taken a harsh stand on cryptocurrencies so far. But media reports indicate that he has taken a large amount of donations from tech giants Microsoft and Facebook.

Joanne Jorgensen has always been vocal about free markets, and she has supported unrestricted competition between banks and other financial institutions. She is also in favor of enacting Ron Paul’s Free Competition in Currency Act.

Kanye West has said that he wanted to use Bitcoin and many experts believe that it will be good for the crypto community if he wins the election.

Elizabeth Warren, on the other hand, has criticized the volatile nature of cryptocurrencies, and she said that it is difficult for the government to protect consumers and yet derive benefits out of crypto technology.

Mike Bloomberg has said that there is a need for a clear regulatory framework around cryptocurrencies. He said that Bitcoin has become a high net worth investment asset, and there is a need for a regulatory framework in this regard.

BTC

Greyscale Brings Altcoins to Over-the-Counter Trading

Greyscale is an investment company, it has announced on 17th August 2020 that their firm’s bitcoin cash trust will be accessible on, over the counter system, or generally known as the OTC market under the BCHG ticketer.

What is over the counter trading?

Over the counter or OTC is a way of trading securities for companies that aren’t listed on any formal exchanges. Over the top means, the securities are traded via a dealer network, which is the opposite of the centralized exchange system. This helps to maintain the current market place while you can have transparency and liquidity of the stock exchange. OTC is very thin traded and that is known as “penny stocks”. It can be traded at low as $1, which makes it more preferable for investors. Grayscale has achieved a state where they have robust security to provide optimum protection to the investors so that they can trade easily and risk-free.

What’s the news?

Grayscale investment offers digital-currency investment stock, which can be traded by individual investors on their Demat accounts. The company debuted in the financial field on 25th September 2013 as a bitcoin investment trust. Storing cryptocurrency is very problematic and greyscale is doing it in a very mature way. They announced that they have a robust system for securing the cryptocurrencies that actually uses the leading techniques of security standards for protecting digital currency. 

Grayscale Investments is an asset management company that is the world’s largest bitcoin trust also, it has announced that bitcoin cash trust, and bitcoin trust, both are eligible for deposits at the “Depository Trust Company”(DTC). This company is based in NY(New York) and is commonly known as DTC, it was founded in 1973.

DTC holds $54.2 trillion in securities. Grayscale also happens to meet the requirement of being eligible to be listed as a major stock exchange like the very well known “New York Stock Exchange”. The most amazing news would be knowing Grayscale has already cleared the Nasdaq NYSE requirement list for becoming eligible. They have successfully entered the stock exchange market and will hopefully rule it very soon.

What are Altcoins?

These are basically the alternative of bitcoins. They came into the market after bitcoins were a huge success. Altcoins specifically denote all the cryptocurrencies that accept bitcoins. Some of the altcoins are, Ethereum (ETH), Chainlink (LINK), Basic attention token (BAT), Komodo (KMD), Bitpanda Eco System Token (BEST), etc.

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