On CNBC this morning Rick Rieder, CIO of Fixed Income at BlackRock, the world’s largest asset manager, said Bitcoin could take the place of gold to a large extent because crypto is “so much more functional than passing a bar of gold around.”

“I think Bitcoin is here to stay, I think it is durable…Millennials’ receptivity to technology and cryptocurrency is real, the digital payments systems is real,” Rieder continued.

The wave of institutions is arriving at a very quick pace.

Click here to see the video clip from CNBC: https://twitter.com/SquawkCNBC/status/1329771252005924866

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A message from our affiliate company DV Chain:

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Stanley Druckenmiller revealed earlier this week that he owns Bitcoin and explained why it could be a better investment than gold.

The famed investor founded Duquesne Capital in 1981. He managed money for George Soros as the lead portfolio manager for the Quantum Fund for several years. He and Soros made massive profits betting against the British pound in 1992.

In an interview with CNBC on Monday, Druckenmiller said, “I’m a bit of a dinosaur, but I have warmed up to the fact that Bitcoin could be an asset class that has a lot of attraction as a store of value.” …

A steady rise in Bitcoin price and a flurry of institutional adoption have helped crypto hedge funds achieve steep gains.

Finance Magnates reports that despite all the challenges at the start of 2020, cryptocurrency hedge funds have outperformed non-crypto hedge funds by a significant margin. A steady price rise since March, strong fundamentals and a flurry of institutional adoption in recent months helped crypto hedge funds achieve record gains.

Vision Hill’s Composite Index, which tracks the performance of actively managed cryptocurrency hedge funds, showed a return of 126% in 2020.

Market Wrap: Bitcoin’s price was on a steady run upward Tuesday. It is now within reach of its 2019 high.

Michael Rabkin, Head of Institutional Sales at DV Chain and Head of Partnerships at DVeX told CoinDesk that “we’ve seen increased buying activity over the last two weeks. There has been a lot of news surrounding Bitcoin over this time and most of it positive. On top of that, the U.S. is close to approving a record $1.8 trillion stimulus plan. People are looking at alternatives like Bitcoin to protect their wealth.”

Judging by the Bitcoin options market’s open interest, positive sentiment seems to be picking up. Monday saw bitcoin options open interest crack $2.5 billion for the second time in October, with the first time being last Thursday, Oct. …

Earlier this year Tudor Investment Corporation began buying Bitcoin as a hedge against the inflation they see coming from central bank money-printing, telling clients it reminds them of the role gold play in the 1970s. The longtime trader believes the unprecedented quantiative easing from the Federal Reserve is setting the stage for inflation to make a grand comeback.

“Bitcoin has this enormous contingence of really, really smart and sophisticated people who believe in it. It’s like investing with Steve Jobs and Apple or investing in Google early…Also, the reason I recommended Bitcoin is because it was one of the menu of inflation trades, like gold, like TIPS breakevens, like copper, like being long yield curve and I came to the conclusion that Bitcoin was going to be the best inflation trade,” Jones said.


For the full interview from CNBC, please click the following link: CLICK HERE

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PayPal Holdings Inc joined the cryptocurrency market, allowing customers to buy, sell and hold bitcoin and other virtual coins using the company’s online wallets.

PayPal customers will also be able to use cryptocurrencies to shop at the 26 million merchants on its network starting in early 2021, the company said in a statement.

PayPal hopes the service will encourage global use of virtual coins and prepare its network for new digital currencies that may be developed by central banks and corporations, President and Chief Executive Dan Schulman said in an interview.“We …

Think about this for a moment: Approximately 20% of ALL circulating USD has been printed since March.

Now is the time to look at #alternatives to help protect your wealth.

If you want to learn more about trading #Bitcoin, #Monero or #cryptocurrencies in general please visit www.dvchain.co / www.dvex.io or message me directly.

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#hedge #BTC #XMR #crypto

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The number of large corporations who continue to purhcase Bitcoin as a reserve asset continue to grow as Stonge Ridge Holding Group (SRHG), a $10B+ AUM asset manager to leading financial advisors, institutions, and insurance companies, announced yesterday that it has purchased more than 10,000 BTC, worth over $100M currently.

The news follows announcements by Square and MicroStrategy, whom have both acquired Bitcoin as part of their treasury strategies. Square recently acquired $50M worth of BTC, while MicroStrategy, the largest independent publicly-traded business intelligence company, has acquired over $400M worth of BTC over the last few months.

Ross Stevens, founder of SRHG said, “I view Bitcoin as a border-agnostic, uniting force for good. Bitcoin can propel global citizens that opt in towards a brighter, and fairer, financial future. From an investment perspective, we’ve long viewed Bitcoin as superior to cash. And now with unchecked — and unbacked — global paper money printing and real yields increasingly negative, SRHG’s more than 10,000 BTC are the principal component of our treasury reserve strategy.” …

Market Wrap: Bitcoin’s price is making gains Wednesday, recovering from a spate of selling Tuesday that coincided with U.S. President Donald Trump’s tweet calling off stimulus negotiations with lawmakers. Bitcoin was able to hit $10,650 approx. around 500pm ET today.

Michael Rabkin, Head of Institutional Sales at DV Chain and Head of Partnerships at DVeX told CoinDesk that “crypto markets are still very highly correlated to traditional markets and the broader economy as a whole. We believe that any time markets tick up or tick down this is exaggerated in crypto. The correlation is still very high.”

Bitcoin may be operating in tandem with traditional markets as of late, but its returns over the past month have been beating global stock indexes. …

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