Australia

Bitcoin’s Rapid Increase Should Compel Crypto Investors to Own Gold, Says Top Miner

13/02/2021 by Idelto Editor

Sandeep Biswas, chief executive officer of Newcrest Mining, one of the world’s biggest gold miners, has said that the sharp increase in bitcoin prices should compel crypto investors to hold gold as a safe-haven asset.

In a Feb. 11 interview with Bloomberg TV, Biswas criticized bitcoin’s (BTC) volatility while flouting gold’s credentials as a time-tested haven against monetary inflation.

“If you’re into cryptos, you want to consider having some gold,” said Biswas, who heads Australia’s top gold producer. “[Bullion] may act as a bit of a hedge against the volatility of cryptos.”

Bitcoin has drawn comparisons with gold, and the top cryptocurrency is now accepted in some quarters as gold’s digital equivalent. This week, BTC raced to a record high of $48,800 after Tesla, the Elon Musk-owned electric car maker, revealed a $1.5 billion investment in the digital currency.

Tesla’s investment reignited the debate on whether bitcoin would eventually take over gold as the safe-haven asset of choice. Biswas was unimpressed, stressing that gold was more stable than BTC, and crypto investors who owned the precious metal stood to benefit from this stability. He explained:

Gold is a different class of investment. It’s a tangible asset: you can see it, you can touch it, you can feel it, you can mold it, you can make it into jewelry, whatever you want.

According to Goldman Sachs Group Inc., bitcoin and gold can co-exist together, even as the crypto asset continues to strip the metal of some of its investments. Goldman believes gold will endure the capital flight. Bloomberg commodity strategist Mike McGlone also argued that BTC has matured into a gold-like store of value – a digital version of gold.

Spot gold is about 3% lower year-to-date at $1,826 an ounce after hitting an all-time high above $2,000 last year. At the time of writing, each bitcoin was trading for around $47,649, up 0.18% over the past 24 hours, as per data from markets.Bitcoin.com.

What do you think about Sandeep Biswas’ suggestions? Let us know in the comments section below.

CoinSpot Is Ideal Starting Point for Australian Investors to add Crypto to Portfolios in 2021

10/01/2021 by Idelto Editor

PRESS RELEASE. As the most trusted platform to buy, sell and exchange Bitcoin, Ethereum, and more than 230 other cryptocurrency tokens for Australian investors, CoinSpot encourages people who have not yet explored the investment opportunities surrounding crypto to make this new year the time they get involved.

Of the four largest crypto tokens, which include Ethereum and Bitcoin, three saw enormous gains during 2020, and at the start of January 2021, the market is worth over a trillion USD. CoinSpot encourages Australian investors to start expanding their portfolios into this exciting market as continued growth is expected this year.

CoinSpot offers a simple and user-friendly way to purchase cryptocurrency wallets, as well as to sell and exchange them, making it easy to get started with investing in crypto. The solution is designed to streamline exchanges between different tokens by allowing traders to directly swap between over 230 tokens and use instant prices to lock in the price at the start of the trade.

For those new to investing in crypto in 2021, CoinSpot also offers bundles that will provide a pre-diversified wallet with coins chosen for a specific focus. This includes the top 10 bundle, which offers 10 coins with the best tokens by market capitalization; the social bundle, which includes social media-focused coins; or the AI bundle, which focuses on AI on the blockchain. This can help people wanting to enter the crypto market to get started with a package of tokens that have been specially chosen by CoinSpot’s experts.

CoinSpot can also offer the latest prices in AUD and market information about all of the tokens it supports all on its user-friendly platform. This makes CoinSpot the ideal starting point for Australia based investors and traders to drive their crypto investments and exchanges in 2021.

Media Contact: [email protected]

This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Ripple Is Selling 33% of Its Stake in Moneygram

29/11/2020 by Idelto Editor

Ripple Labs Inc. is selling 4 million of its shares in Moneygram, or about a third of its total shareholding in the company.

The decision seems in part to be motivated by the surging Moneygram share price and Ripple’s desire to cash out after buying the shares at a premium of $4.10 in 2019.

At close on Nov. 27, shares of Moneygram were down 4.8% at $7.42 on the Nasdaq Stock Exchange. However, the stock has soared 260% year-to-date, rising from $2.06 on Jan. 2.

Ripple will earn nearly $30 million if it sold its 4 million Moneygram shares at current market prices – an almost 50% gain. However, the sale is still in process.

A Ripple spokesperson was quoted by industry publications as saying, “this is purely a judicious financial decision to realize some gains on Ripple’s Moneygram International investment…” The spokesperson added that the sale “is in no way a reflection of the current state of our partnership.”

According to a U.S. Securities and Exchange Commission filing on Nov. 27, Ripple owns an 8.6% equity stake in the global remittance behemoth Moneygram. That’s the equivalent of 6.24 million shares.

Ripple, the issuer of the eponymous XRP cryptocurrency, has the option to buy an additional 5.96 million shares under a warrant. If exercised, that option would bring Ripple’s total shareholding to 12.2 million shares or about 17% of Moneygram’s shares outstanding.

Ripple has now put up the 4 million shares for sale. The shares represent about a third of its entire stake in Moneygram when the warrant shares are included. Excluding those, Ripple will still own 2.24 million shares or 3.1% of Moneygram’s shares outstanding. Counting in the additional warrant shares, that would rise to an 11% stake.

“We will remain a significant shareholder in Moneygram following the sale,” asserted the Ripple spokesperson, adding that “in just over a year, we’ve made incredible progress and look forward to continuing to work alongside Moneygram to transform cross-border payments.”

Ripple completed a $50 million investment in Moneygram in November 2019, in what was touted by the two entities as a strategic partnership. At a premium price of $4.10 per share at the time of the purchase, the $50 million investment adds up to exactly 12.2 million shares – the total number of shares Ripple holds in Moneygram, inclusive of the additional warrant shares.

Moneygram uses Ripple’s XRP-based settlement network, the On-Demand Liquidity (ODL) network, to facilitate remittances in Australia, Europe, and the Philippines.

What do you think about Ripple selling its Moneygram stake? Share your thoughts in the comments section below.

The post Ripple Is Selling 33% of Its Stake in Moneygram appeared first on Bitcoin News.

Privacy-Focused Brave Users Can Now Purchase Bitcoin Cash Through Bitcoin.com

25/10/2020 by Idelto Editor

The privacy-centric web browser Brave has partnered with Bitcoin.com in order to give users access to cryptocurrencies like bitcoin cash from directly inside their browser. The newly added Bitcoin.com widget has been added to the latest Brave software and is now available to users in various countries.

The latest version of the privacy-oriented Brave browser now has a Bitcoin.com widget that allows people to purchase cryptocurrencies like bitcoin cash (BCH). The widget is available to users in select regions such as the EU, UK, Australia, New Zealand, Canada, and Russia.
Bitcoin.com’s founder Roger Ver tweeted about the recent partnership on October 21. “Bitcoin.com has partnered with Brave to allow users to buy Bitcoin Cash directly inside their privacy-centric browser,” Ver stated.
According to recent statistics, the privacy-centric Browser has roughly 19.6 million monthly users and around 6.6 million active on a daily basis. Brave’s Bitcoin.com widget follows a number of other popular exchange widgets hosted on the browser.
The new widget announcement was extremely popular on the Reddit forum r/btc, as a great number of BCH fans were pleased with the added accessibility. “This is great news,” explained one BCH proponent. “Been using Brave for almost a year now. I think I’ve made about $50 and have tipped a lot of journalists with it.”

“A lot of people love BCH, and the Bitcoin.com service,” Jonathan Sampson, Senior Developer Relations at Brave said on Twitter. “We want these people to be safe, and secure when they’re using Brave. For this reason, a widget helps to protect their transactions,” he added.
Bitcoin cash (BCH) transactions are lightning-fast and fees are always negligible. According to data on Saturday, Oct. 24, 2020, the next block fee for BCH is $0.0014 and the current median fee is $0.0012. In comparison, bitcoin’s (BTC) next block fee is $4.64 and the current median fee is $2.35.

What do you think about Bitcoin.com’s integration with the privacy-centric Brave browser? Let us know what you think about this subject in the comments section below.

The post Privacy-Focused Brave Users Can Now Purchase Bitcoin Cash Through Bitcoin.com appeared first on Bitcoin News.

Flipstarter Campaign Aims to Raise Funds for Viral Bitcoin Cash Marketing

18/08/2020 by Idelto Editor

Bitcoin Cash supporters are a passionate bunch and the CEO of Bitcoinbch.com, Hayden Otto is an extremely impassioned BCH supporter. Otto has initiated a fundraising effort toward Bitcoin Cash marketing by leveraging the nonscustodial Flipstarter platform. The fundraiser aims to raise 650 BCH ($194,900) in order to fund a viral marketing campaign that highlights the many benefits of a peer-to-peer electronic cash system.

Hayden Otto from the web portal Bitcoinbch.com has invoked a fundraiser in order to raise bitcoin cash (BCH) funds to start a viral marketing campaign for the decentralized cryptocurrency. Otto explains in the Flipstarter fundraiser called “Bitcoin Cash (BCH) Marketing,” (expires in 15 days) is aimed at carving a new narrative for BCH.

The CEO of Bitcoinbch.com has been behind a number of bitcoin cash (BCH) videos that have gone viral. Otto has also been instrumental toward building adoption in North Queensland, Australia, and bolstering the Bitcoin Cash City conference as well.

After observing a number of campaigns on Flipstarter, Otto noticed that most of the funds are being dedicated to infrastructure and third-party development.

“It came to my attention that some would prefer to donate funds to Bitcoin Cash (BCH) marketing efforts rather than development,” Otto states in his fundraiser description. “This is an area lacking attention and I am proposing that 650 BCH in donations are raised to produce Bitcoin Cash (BCH) marketing material in the form of high-quality videos.”

Otto continued by adding that his team plans to “establish a new narrative for BCH” and he already has a number of concepts in the pipeline ready to develop.

“This content will demonstrate the capabilities of Bitcoin Cash (BCH) and package up into something sexy that shows how Bitcoin Cash (BCH) is for trendy young investors who understand fundamentals,” the Bitcoinbch.com CEO noted.

In the fundraiser description, Otto stresses that he personally will manage the funds donated via the Flipstarter campaign and the money won’t be handled by Bitcoinbch.com. But the web portal will be the vehicle to where the marketing campaign videos will be hosted and published.

Otto says the content will be produced in both English and Chinese languages in order to gather more viewers. He said that in the past he’s figured out the rough cost for a quality video is around $10,000 per video.

For smaller projects, Otto thinks the number can be cut in half and he aims to leverage similar rates for upcoming video projects.

The marketing campaign will need videographers, sound engineers, actors, on-set help, post-production and editing, props, translation, and travel accommodations as well. “The funds will not be used for Bitcoinbch.com business activities,” Otto detailed.

“The core team members are Hayden Otto and Sam Fregonese, who have together produced Bitcoin Cash video productions,” he added.

So far there are 15 days left to donate to Otto’s “Bitcoin Cash (BCH) Marketing” campaign on Flipstarter. Bitcoin Cash supporters have been discussing the campaign on social media and crypto-focused forums like r/btc. The fundraiser is close to halfway toward the goal, with the donation gauge showing 303 BCH ($90,000) pledged to the marketing campaign at the time of publication.

What do you think about Hayden Otto’s “Bitcoin Cash (BCH) Marketing” campaign? Let us know what you think about this subject in the comments section below.

The post Flipstarter Campaign Aims to Raise Funds for Viral Bitcoin Cash Marketing appeared first on Bitcoin News.