CBX Weekly Newsletter // 20 May 2020
- Bitcoin Fights $10K
- Harry Potter’s author J.K. Rowling asks for an explanation about Bitcoin
- NEW LISTING: AurusGOLD (AWG)
Bitcoin Fights $10K
Bitcoin has been consolidating from a very bullish run that started after Bitcoin and the crypto-market crashed to levels below $3,500 during the Covid-19 panic sell-off that started earlier in march this year.
So far in BTC’s history when the price climbs above $10K it usually doesn’t last too long around that area. However, this time might be different as we experienced the third Bitcoin halving a few days ago limiting the supply of Bitcoin minted to 6.25 every block.
The fundamentals in Bitcoin remain strong especially after Fed Chair Jerome Powell tells during a CBS News interview that the Fed has basically unlimited money. “We print it digitally. So as a central bank, we have the ability to create money digitally. And we do that by buying Treasury Bills or bonds for other government guaranteed securities. And that actually increases the money supply. We also print actual currency and we distribute that through the Federal Reserve banks.” (Watch the video here)
As Bitcoin trades sideways some altcoins started to gain some momentum over their BTC pairs. Lots of opportunities for short-term traders. For medium and long-term traders the outlook is Bullish until proven otherwise.
Harry Potter’s author J.K. Rowling asks for an explanation about Bitcoin
Crypto Twitter has gone wild over the weekend when Harry Potter’s billionaire author J.K. Rowlings asks for an explanation regarding Bitcoin.
Even celebrities like CZ from Binance and Elon Musk chimed in on the discussion highlighting the benefits in digital currencies and the cons of central banks excessive printing that makes Bitcoin “look good by comparison”.
These are some of the best tweets:
NEW LISTING: AurusGOLD (AWG)
We are delighted to announce the exclusive listing of AWG on CBX on 25th of May!
Token Info:
AurusGOLD (AWG) is a semi-decentralized gold-backed cryptocurrency that is independently minted by esteemed gold providers and traders from the traditional gold market.
Each AWG token is backed by 1 gram of 99.99% LBMA-approved gold, stored in professional, fully insured and audited vaulting facilities around the world. The platform employs a smart contract to audit the supply of gold and uses ERC-721 to track the gold bars, making each AWG token traceable to a single gold bar. AWG tokens represent 100% ownership and can be redeemed for physical gold at any time.
Aurus Technologies, the company behind AWG offers a tokenization solution to the traditional gold market. Aurus’ blockchain protocol interacts with a network of gold providers and vaults that work in synergy to autonomously tokenize physical gold bullions into AurusGOLD.
Guido Van Stijn, CEO of Aurus: “Launching with CBX which partners have a strong backing in the commodity industry made the most sense for Aurus. There’s mutual knowledge on the product and the innovations we want to deliver to the industry.”
Meng Chan Shu, CEO of CBX: “After carefully evaluating different commodity-based tokens, we are delighted to partner with AurusGOLD to launch AWG to the community! Now it will be as easy as ever for traders and users to have exposure to Gold without leaving the Blockchain ecosystem.”
Official Website: Aurus.io
Block Explorer: https://etherscan.io/token/0x32310f5cf83ba8ebb45cae9454e072a08850e057
White Paper / Documentation: https://aurus.io/Aurus_Whitepaper_V3.1.pdf
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