BTC may be better,last Treasury auction,less foreign money showed up (only 80 billions),our debt is 3% of GDP,rebuilding Ukraine could cost one trillion,despite the rate hike,US dollar is losing its purchasing power.
Gold and BTC could be the benefactors when dollar loses its #1 as reserve currency.
Quote:
Originally Posted by ShakaLt
(Post 1206547)
I think BTC will go 10k and then go up. At least I have to hope that crypto will recover))) I am 75% down on my all investments
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BTC has behaved very well despite all the scandals .
If you believe BTC is digital gold,then physical gold is moving up,so should Bitcoin.
Fiat currencies Suck,it is backed by faith of the issuers ,not something tangible like gold,silver,platinum,even copper,lithium,nickel is better
Quote:
Originally Posted by 0nelove
(Post 1208379)
I feel like the u.s. fed rates might give it a hard time ,
I know LTC halves soon which may be a good thing.
This year is probably the best year to buy into it
That's what I plan to do since btc halves 2024
I expect decent gains in 2025
That's my strategy anyway lol
You have any strategies?
|
GBTC was selling at 60% discount to BTC,now it is moving higher,but still at a discount,unless SEC approves its ETF.
What I dont understand is why physical gold is moving up daily,central banks are buying gold,why?
Biden is globetrotting forming alliance and selling fighters jets to Japan,Turkey and sending more drones and missiles to Ukraine .
Mexico is the winner,25% of what is now made in China would be replaced by Mexico.
One day someone would push a button !
There should be some profiting taking soon.
Let me guess,Bitcoin could go to $40K,but $60K.
The thrill is gone.
Argentina and Brazil are talking about coming up with a common currency !
Quote:
Originally Posted by rsot
(Post 1209574)
|
failure is the mother of invention,I give them credit for trying,
Do you see the trend,US $ is losing a little lustre as reserve currency,Saudi will accept non US $ for its oil,Brazil and Argentina works on a common currency,Chinese wants SE Asia countries to deal direct in Chinese $,why go thru a third party each time they transact with each other?
More central banks are buying gold,they see what happens to Russian central bank,it has billions of Euro and US $ locked up by other central banks ,why not buy gold,silver,industrial metals and hold it themselves in their own country.
Bitcoin will trade in a reasonable range,those wild swings is over .
You are lucky that MSTR,TSLA,Grayscale and those Arab shieks are still holding on to their Bitcoins.
I am watching MSTR,it borrowed a lot of money to buy BItcoins,how are they going to meet interest and principal payments?
At one point,it may be forced by lenders to liquidate its holdings !
Banks are now shying away from doing business with cryto exchanges,
SilverGATE Capital
more scandals
The U.S. Securities and Exchange Commission announced an emergency action on Monday against Miami-based investment adviser BKCoin Management LLC and one of its principals, Kevin Kang, alleging a crypto-asset fraud scheme.
The SEC said it successfully obtained an asset freeze, appointment of a receiver, and other emergency relief. The SEC said the emergency action was filed under seal on Feb. 23 and unsealed Monday.
Between October 2018 and September 2022, BKCoin raised around $100 million from at least 55 investors to invest in crypto, but the firm and Kang allegedly used the money for personal use and Ponzi-like payments, the SEC said in a news release. A Ponzi scheme is a type of fraud that pays profits to earlier investors with funds raised from newer investors.
“As we allege, investors entrusted their money to the defendants to trade in crypto assets. Instead, the defendants misappropriated their money, created false documents, and even engaged in Ponzi-like conduct,” said Eric I. Bustillo, director of the SEC’s Miami regional office, in a statement.
The SEC said the complaint, filed in U.S. District Court for the Southern District of Florida, seeks permanent injunctions against both of the defendants; disgorgement, prejudgment interest, and a civil penalty from both of the defendants; and, an officer and director bar and conduct-based injunction against Kang.
Disgorgement is a remedy that requires a party who profited from illegal acts to give up any profits they made, and prejudgment interest is the interest that a creditor is entitled to collect.
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BKCoin and Kang’s lawyers didn’t immediately respond to requests for comment.
BKCoin and Kang had told investors that their money would be used to trade crypto and that BKCoin would generate returns through managed accounts and five private funds, the SEC statement said. But Kang and BKCoin allegedly used more than $3.6 million to make Ponzi-like payments to fund investors, according to the SEC.
The complain also alleges that Kang used at least $371,000 of investor money to pay for personal expenses like vacations, sporting events, and a New York City apartment. He attempted to hide the unauthorized use of the money by altering documents with “inflated bank account balances to the third-party administrator,” according to the SEC.
The firm also told investors that BKCoin or one of the funds had received an audit opinion when it hadn’t, according to the SEC filing. An audit opinion is an independent auditor’s report that accompanies financial statements.
“This action highlights our continued commitment to protecting investors and uprooting fraud in all securities sectors, including the crypto asset arena,” said Bustillo, in a statement.
This is just the latest crypto crackdown by the SEC. Last month, the firm charged former NBA player Paul Pierce $1.4 million for promoting crypto tokens without disclosing he was being paid for the promotion, and charged Terraform Labs and CEO Do Kwon with defrauding crypto investors. The SEC has cracked down on crypto exchanges, including Kraken, a popular crypto exchange, which was hit with a $30 million fine for failing to register its crypto staking program earlier this month.
—Frances Yue contributed reporting to this article.
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Alameda Research is suing Grayscale Investment claiming they cannot unlock the value of GBTC and ETHE which will allow investors to reclaim 900 millions.
SVB bank has just been shut down by regulator,other banks may be affected.
Rid your bitcoin now if you still have a profit
If you are in US,turn on CNBC and listen what is going on.
crypto exchange Coinbase said Friday it is temporarily suspending the conversion between stablecoin USDC and USD over the weekend, after the stablecoin’s creator Circle said about $3.3 billion, or more than 8% of over $40 billion USDC reserves, are held at Silicon Valley Bank, which collapsed on Friday.
USDC USDCUSD, -7.69%, which is co-supported by Coinbase COIN, -8.00% and Circle, is the world’s second-largest stablecoin.
Coinbase said it would resume the conversions between USDC and USD on Monday. “During periods of heightened activity, conversions rely on USD transfers from the banks that clear during normal banking hours,” the company tweeted Friday.
“Your assets remain safe & available for on-chain sends,” Coinbase added.
Amid concerns over contagion brought by Silicon Valley Bank, investors cashed out more than $2.3 billion USDC in the 24 hours leading to Friday evening, according to data from Nansen.
While most of the USDC reserves are invested in Treasuries, close to $9 billion of them were held in cash at banks including Bank of New York Mellon BK, -1.44%, Citizens Trust Bank, Customers Bank, New York Community Bank, a division of Flagstar Bank, N.A., Signature Bank SBNY, -22.87%, Silicon Valley Bank and Silvergate Bank SI, -11.27% as of Jan.31, according to an attestation report in March.
The Federal Deposit Insurance Corporation has taken over more than $175 billion in deposits at Silicon Valley Bank. FDIC’s standard insurance covers up to $250,000 per depositor, per insured bank, for each account ownership category.
The rest of the depositors are uninsured — they will be paid an advance dividend within the next week and get receivership certificates for their balances, FDIC said. Whether and how much depositors with over $250,000 would get their money back, depends on the amount of money FDIC receives from selling Silicon Valley Bank’s assets.
Representatives at Circle and Coinbase didn’t respond to requests seeking comment.
aout the Author
Frances Yue
Frances Yue covers the cryptocurrency market for MarketWatch.
Quote:
Originally Posted by rsot
(Post 1212742)
too long paste agent :FF:
|
I just shortened it,not to long if you care about y our money.
Roku has over 400 millions dollars tied up with this bank,many startup companies cant meet March 17 payroll,worse even the payroll service co for them have its money tied up with this bank.
USDC, a stablecoin that is supposed to trade one-to-one against U.S. dollars, has fallen below $1 on Saturday, after creator Circle said it had over $3.3 billion held at Silicon Valley Bank, which collapsed on Friday.
USDC traded at as low as 86 cents on a dollar early Saturday, before it rebounded to around 95 cents, according to CoinDesk data.
The USDC reserves tied up at Silicon Vally Bank amounts to about 8% of its $40 billion total reserves, according to Circle.
Crypto exchange Coinbase said Friday it is temporarily suspending the conversion between stablecoin USDC and USD over the weekend. USDC USDCUSD, 0.66%, which is co-supported by Coinbase COIN, -8.00% and Circle, is the world’s second-largest stablecoin.
Coinbase said it would resume the conversions between USDC and USD on Monday. “During periods of heightened activity, conversions rely on USD transfers from the banks that clear during normal banking hours,” the company tweeted Friday.
“Your assets remain safe & available for on-chain sends,” Coinbase added.
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Amid concerns over contagion in the banking system from the collapse of Silicon Valley Bank, investors cashed out more than $2.6 billion USDC in the 24 hours as of 3 am Saturday, according to data from CryptoQuant.
While most of the USDC reserves are invested in Treasuries, close to $9 billion of them were held in cash at banks including Bank of New York Mellon BK, Citizens Trust Bank, Customers Bank, New York Community Bank, a division of Flagstar Bank, N.A., Signature Bank SBNY, Silicon Valley Bank and Silvergate Bank SI as of Jan.31, according to an attestation report in March.
SVB Financial Group’s Silicon Valley Bank on Friday became the first major bank since the global financial crisis in 2008 to be taken over by the Federal Deposit Insurance Corp. in a sudden demise for a once-mighty lender to technology companies in its namesake region.
The Federal Deposit Insurance Corporation has taken over more than $175 billion in deposits at Silicon Valley Bank. FDIC’s standard insurance covers up to $250,000 per depositor, per insured bank, for each account ownership category.
The rest of the depositors are uninsured — they will be paid an advance dividend within the next week and get receivership certificates for their balances, FDIC said. Whether and how much depositors with over $250,000 would get their money back, depends on the amount of money FDIC receives from selling Silicon Valley Bank’s assets.
Representatives at Circle and Coinbase didn’t respond to requests seeking comment.
Now,I am going to find out how MSTR is doing with rising interest rate,it borrowed huge sum to buy Bitcoins
if more banks fail,there is no way for the US Treasury to guarantee every bank uninsured deposits,gold and bitcoins would go thru the roof,
Thursday night I was looking to buy gold but did not,Friday it went up 70 dollars!
Gold could go to $3000 and Bitcoins $40K
Unlike Central Banks which have a place to store gold,it would be hard to do so with individual.
There are arrangements to store them if you have enough to justify the cost,but most of us would just have them in bank safe deposit boxes or at home.
Gold does not pay you interest or dividend.
UBS has agreed to buy Credit Swiss for 0.75 franc!!
It closed over 2 francs on Friday,and Bitcoin is now over US$ 28,000
Quote:
Originally Posted by yankee
(Post 1213300)
Central Banks don't have any assets(western world anyways) They have debt and military.
Russia and China do have assets and also debt and military.
|
All central banks hold gold besides hard currencies,Venezuela at one time was selling its gold .
Someone in recent month bought 100 tons of gold,it could be Central Bank of China
Quote:
Originally Posted by rsot
(Post 1213396)
could be other more nefarious parties as well if you think deeper
|
PRIOR to Ukraine invasion,Russian central bank parked billions in EU central banks,now they cant retreive it.
So China is not going to repeat the same mistake (if it invades Taiwan) and it has been sellng its US treasury holdings,It is the Chinese central bank which has been buying gold,copper,oil ,fertiliser
Did you hear what has happened to Binance?
Too much scandal.
Now the FTX founder is being charged with bribing the Chinese,
Have not heard recently any business entity saying they will accept Bitcoins or any crypto ?
Like in the past,coffee shop will accept Bitcoin,condo sellers will accept Bitcoin,state and city employer will pay their workers in Bitcoin,what happens now?Even TSLA at one time said they wil accept Bitcoin and then changed its mind.
Only 2.7% El Salvador citizens owns bitcoins.
I would not hold any crypto long term,if you are a nimble trader,have some fun and enjoy your profit,dont believe all that hype that it is going to change the world .
If the world comes to an end,there aint no electricty to run any cryptos
It could be earlier,central banks have bought 157 tons of gold in 2023.
Ukraine war sees no end in sight and China could seize Taiwan ,Iran is urging other Arab nations to attack Israel.
We are waiting for billions of commercial real estate loans to bankrupt the regional and small banks,not to mention credit card and auto loan default are rising among the 20s-40s consumers.
Quote:
Originally Posted by yankee
(Post 1215024)
I would not be surprise in the stock market has a major dip is all. August or September. Things are getting pretty shaky in the financial realm of things.
|
But they are not going to run to cryptos,it is even shakier/
Not even gold either,may be just cash .
TSLA sold its bitcoins last year and netted $920 million dollars.
Instead of cryptos,take a look at well capitalised technology stocks
Did SEC approve??
why are you guys still dabbling in cryptos?
Buy NVDA stock,it is going to the MOON !!!!
Quote:
Originally Posted by BlackLion
(Post 1224288)
If you're new to crypto, forget about BTC. You're not going to get rich off of it, nor be silly enough purchasing your first coin at 5 figures. If you didn't get in when it was $100 or less, forget about it. Buy low, sell high will get you rich, and has stood the test of time.
|
Blackstone Bitcoin ETF may get approval,thats why it has moved up.
IF it does get down to $100 or less,you dont want it !!
Quote:
Originally Posted by agent006140
(Post 1227652)
Blackstone Bitcoin ETF may get approval,thats why it has moved up.
IF it does get down to $100 or less,you dont want it !!
|
sorry,it is Blackrock,not Blackstone .
spot ETFs ,plenty to choose from,you dont have to pay a fee.
it could be profit taking .
central banks hold gold as reserves,but not crypto currencies
