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Rock Legend Gene Simmons Talks Bitcoin: Musician Believes China Is Behind the Ripple Lawsuit, Dollars Are Based on Nothing – Featured Bitcoin News

Rock Legend Gene Simmons Talks Bitcoin: Musician Believes China Is Behind the Ripple Lawsuit, Dollars Are Based on Nothing – Featured Bitcoin News

The American musician, co-lead singer, and bassist for the rock band Kiss, Gene Simmons, has been very talkative about cryptocurrencies during the last two weeks. Just recently, Simmons sat down with Bitcoin.com’s podcast host, Dustin Plantholt and the two discussed a variety of subjects like the Ripple lawsuit, and why the rockstar thinks cryptocurrencies are worth owning.

Gene Simmons is well known for his band Kiss, the rock band that was formed in 1973 by Simmons, Paul Stanley, Peter Criss, and Ace Frehley. Simmons is also known for being an entrepreneur over the years and just recently, news.Bitcoin.com reported on Simmon’s telling his Twitter followers about which cryptocurrencies he owned. Last week, the bass player told his fans he purchased BTC, ETH, LTC, DOGE, XRP, and other digital assets.

This Saturday, Simmons joined Tesla founder Elon Musk and the hip hop artist Snoop Dogg, and started tweeting about dogecoin (DOGE). Additionally, this week the rockstar from Kiss got together with Bitcoin.com’s podcast host, Dustin Plantholt, for a podcast sponsored by exchange.Bitcoin.com. During the conversation, Simmons told Plantholt that unlike most of his peers, he was a bookworm and he read about economics at an early age.

“When I was a kid I started reading stuff, the kind of stuff that the other kids did not read,” the Kiss bassist said during the podcast. “So as you know reading is fundamental and the more information I got, the more questions I had. I learned about capitalism and how it works, how the government prints money. That it was once based on gold, and there lies the value, and then at some point in the past before most of you were born, the dollar was no longer based on gold,” Simmons added. The musician further added:

[The dollar] is based on nothing.

“That’s ok if everything works,” Simmons insisted to Plantholt during the conversation. “Then the world continues to somehow base value on dollars. Even the terrorists want to get paid in dollars and not by local wombat coinage— I’m not the expert and I’m not directing [you] or suggesting that anyone get into cryptocurrency, I’m just telling you what I am doing. The more governments and that includes the United States government, continue to keep printing money which is based on nothing, at some point, you gotta pay the piper.”

Simmons said that he jumped into the crypto scene three months ago and that he studied Satoshi Nakamoto and the digital asset economy. When asked why it took him so long, Simmons explained that it takes some time for the older generations to get it sometimes, and oftentimes they never truly understand.

For instance, he recalled how older family members never understood how he made money, after she worked a 9 to 5 job day in and day out. Simmons explained that money is changing, similarly to how influencers like the Kardashians have changed the entertainment business.

“I did a little research about Satoshi and where he came from and what it was,” the Kiss frontman said. “It seems to me that the value of things is determined by people. The value of real estate is only based on what people say it is. The value of gold is only what people agree on what it is, and even Wall Street and stocks based [on people’s valuation], you can make your own valuation, but unless people buy the stock, it means nothing,” Simmons stressed.

The Kiss bassist said that “crypto seems to be a friendly neighbor to that, which is that it has much more roots in people.” Simmons also noted that a number of well known individuals have been interested in the crypto space as well. Simmons likes cryptocurrencies because of this attraction and swelling appeal.

“You have your cold wallets, ad infinitum, all this cryptocurrency language nonsense, that the rest of us don’t understand,” he explained during the interview. “But there’s a simple idea, and the simple idea is you’ve got a deck of cards, and cryptocurrency is one of those things. You can pick litecoin, bitcoin… whatever. How it started and what the intent was is not the issue for me. The issue for me and the appeal for me is that people like it. [Notable people] whether it’s Elon, or whether it’s Camron and Tyler, there’s lots of interesting people.”

Ha. That’s great! @dogearmy. https://t.co/aTy1xakzZ2

— Gene Simmons (@genesimmons) February 6, 2021

Moreover, Simmons said he had a conversation about bitcoin with Mark Cuban and that crypto deniers are changing or will change soon enough. “I had a discussion with Mark Cuban the other day and he commented on something about bitcoin,” Simmons detailed. “He is changing too, the Buffet people are going to change. You cannot avoid it, I know that Goldman [Sachs] folks are looking at this, institutional money, and Scaramucci is looking at it,” the musician added. Simmons further said:

I don’t believe for a second that most people understand what cryptocurrency is, what it is designed to do, but it is immediate and you don’t have to deal with banks— I like that.

That was only a few minutes of the discussion with Bitcoin.com’s podcast host Dustin Plantholt and Kiss’s Gene Simmons. The conversation delves further for another 25 minutes and during one point of the discussion, Simmons said he believes China is behind the recent Ripple lawsuit. The musician also discussed music piracy and what he thinks about that trend that has grown significantly during the last decade. At the end of the interview, he told people not to give up on money and that he was still into precious metals like gold and silver to this day.

The entire Bitcoin.com podcast with host Dustin Plantholt and special guest Gene Simmons will air on Thursday, February 11, 2021. The episode with the Kiss frontman is sponsored by the leading cryptocurrency trading platform Bitcoin.com Exchange. The platform offers a world-class trading engine, a large variety of crypto assets, and first-rate security that meets the needs of both crypto veterans and newcomers every day.

What do you think about the upcoming podcast with the rockstar legend Gene Simmons? Let us know what you think about this subject in the comments section below.

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Purchase Bitcoin without visiting a cryptocurrency exchange. Buy BTC and BCH here.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

Source: news.bitcoin.com

Author: Featured

by
Jamie Redman


Norwegian Oil Billionaire Says BTC Could Be Worth Millions of Dollars Each — Puts Liquid Company Assets in Bitcoin – Bitcoin News

Norwegian Oil Billionaire Says BTC Could Be Worth Millions of Dollars Each — Puts Liquid Company Assets in Bitcoin – Bitcoin News

Billionaire Kjell Inge Rokke’s company, Aker, has established a new business dedicated to bitcoin. Rokke believes that bitcoin could “become the core of a new monetary architecture” and each coin could be “worth millions of dollars.” His new company “will keep all its liquid investable assets in bitcoin.”

Norwegian oil billionaire Kjell Inge Rokke has spoken in favor of bitcoin. His company, Aker ASA, which controls oil and oil service companies, announced Monday that it has established a new business, Seetee AS, to tap into the potential of the cryptocurrency.

Listed on the Oslo Stock Exchange, Aker is a Norwegian holding company engaged in offshore fishing, construction, and engineering. Established in 2004, the company is controlled by Rokke with 67% ownership through TRG Holding.

In its announcement, Aker described Seetee as “a new company dedicated to investing in projects and companies throughout the bitcoin ecosystem and which will keep all its liquid investable assets in bitcoin.” Seetee is starting with 500 million kroner ($59 million) in capital, which Rokke called “an amount we aim to increase significantly over time.”

Following the announcement, Rokke expressed his view on bitcoin and the new enterprise launch in a shareholder letter published on Seetee’s website. The billionaire wrote:

We will use bitcoin as our treasury asset and join the community. In bitcoin speak, we will be hodler.

Initially, Seetee will focus on four areas. The first is “investing in and owning bitcoin.” The second is “joining the bitcoin and broader blockchain community and establishing partnerships with leading players.” The third is “launching bitcoin verification operations,” and the fourth is “building and investing in innovation projects and companies in the bitcoin and blockchain ecosystem.”

Seetee will actively partner with other companies in order to accelerate its initiatives, the announcement adds, noting that the company has “entered into a collaboration agreement with Blockstream,” which “will initially focus on mining operations.”

Rokke further opined:

Bitcoin may still go to zero. But it can also become the core of a new monetary architecture. If so, one bitcoin may be worth millions of dollars.

He added: “The direction is clear: finance will be disrupted as surely as fossil fuels will be. The question is not if, but when.”

What do you think of Rokke’s bitcoin strategy? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

Source: news.bitcoin.com

Author: by
Kevin Helms


Bitcoin Climbs Past $40k, Analyst Expects Another Jump in BTC Value, ETH Taps New Highs – Market Updates Bitcoin News

Bitcoin Climbs Past $40k, Analyst Expects Another Jump in BTC Value, ETH Taps New Highs – Market Updates Bitcoin News

The price of bitcoin is nearing the crypto asset’s all-time price high on Saturday, as the digital currency has gained over 6% during the last 24 hours. The last time BTC was this high in value was during the first week of January when bitcoin touched a high of $42k that week.

Bitcoin (BTC) is up 6% today and hovering over the $40k price handle during Saturday morning’s trading sessions. For the last seven days, BTC has gained 17.6%, but during the last month, BTC is only up 2.3% today. Three month stats show bitcoin has also gained 160% and 311% against the U.S. dollar for the last 12 months.

Today, BTC has a dominance index of around 62% even during the price high. That’s because coins like ethereum (ETH) and bitcoin cash (BCH) and others have seen some significant gains. At press time, with a 1.16 trillion dollar overall market valuation, BTC’s entire market cap is hovering around $750 billion this Saturday.

Meanwhile, as ethereum (ETH) touched new price highs on Friday jumping over $1,750 per unit, the price has dipped since then. At the moment, ETH is exchanging hands for $1,680 per coin with a market valuation of around $193 billion.

The biggest gainers in the top ten crypto-list on Saturday include binance coin (BNB) and bitcoin cash (BCH). BNB has gained a whopping 24% today and is trading for $73 per unit. Bitcoin cash (BCH) is up 8.6% on Saturday morning and swapping for $474 per BCH.

Today’s biggest gainers include ultrain (UGAS), stakenet (XSN), airswap (AST), linkeye (LET), and district0x (DNT). Saturday’s biggest losers include akropolis (AKRO), reddcoin (RDD), nexo (NEXO), mossland (MOC), and swissborg (CHSB).

On Wednesday, the senior commodity strategist Mike McGlone said that he believes BTC may touch the $50k handle soon. “About $30,000 is the threshold supported by a rising tide of institutional investors and global adoption as a store-of-value,” McGlone stressed. “Our graphic depicts the milestone of the 20-week moving average crossing above $20,000, which we view as an extreme downside level in the event of a risk-off swoon akin to 1Q20.”

McGlone further added:

Bitcoin 260-day volatility is in early bottoming days from an all-time low vs. the same gold measure, akin to the start of 2017. Our [findings] depict accelerating flows into Grayscale Bitcoin Trust (GBTC) as they decline in total known ETF holdings of gold. At almost 700,000 Bitcoins, GBTC is reaching record highs, while gold ETFs have dropped to about 107 million ounces from the October peak, just above 111 million.

What future awaits cryptocurrencies?
GOODBAD

Additionally, crypto proponents and industry execs also believe ethereum (ETH) is headed for higher numbers. Paolo Ardoino, the CTO of Bitfinex recently discussed the rising ETH value in an investor’s note sent to news.Bitcoin.com. “Ethereum is seemingly ‘going to the moon as it reaches another all-time high above $US1,700,” Ardoino wrote.

“There are lots of moving parts to the second-biggest cryptocurrency by market capitalization. Skeptics may focus on the challenges that it faces. But hackers and coders love to solve problems. Ethereum was designed to be a currency to fuel an ecosystem of applications and we are still at the very beginning of this journey. Meanwhile, the coming CME Futures launch represents another milestone towards crypto becoming an established asset class,” the Bitfinex CTO concluded.

What do you think about the recent price movements within the crypto economy? Let us know what you think about this subject in the comments section below.

$40k, $50K, 1 trillion, BCH, Bitcoin, Bitcoin (BTC), bitcoin cash, crypto assets, CTO of Bitfinex, DOT, ETH, Ethereum, Gainers, Losers, Market Caps, Market Prices, Market Update, Markets, Mike McGlone, Paolo Ardoino

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is 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 this article.

Source: news.bitcoin.com

Author: by
Jamie Redman


Blackrock Executive Says Gold Now Less Effective Hedge Against Inflation – Markets and Prices Bitcoin News

Blackrock Executive Says Gold Now Less Effective Hedge Against Inflation – Markets and Prices Bitcoin News

A portfolio manager and member of Blackrock’s Global Allocation Fund says gold is now a less effective hedge against inflation as well as moves in other assets such as stocks. In comments that appear to undercut the precious metal’s renowned status, Russ Koesterich claims that “gold’s ability to hedge against inflation has been somewhat exaggerated.”

While Koesterich is still cognizant of gold’s status as a “reasonable store of value over the very long-term,” he does however opine that “it is less reliable across most investment horizons.” Already, Koesterich’s firm, Blackrock, which has assets under management worth almost $9 trillion, appears to have acted on this new knowledge. As reported by Bitcoin.com News, Blackrock has started to invest in BTC.

Still, as one report notes, gold has for years been viewed as that part of a multi-asset portfolio “that can help to balance out shifts in other holdings, especially equities.” Yet as this Blackrock executive remarks, gold is currently “not working well as a hedge against either stock moves or inflation risks, although it was against the dollar.”

Meanwhile, in order to back Koesterich’s assertions, the report uses the precious metal’s recent performances in comparison to the USD and U.S. equities. The report, which uses March 11 data, states:

Spot gold traded at $1,735.16 an ounce at 9:35 a.m. in London, down more than 8% this year, while a gauge of the U.S. currency has risen about 1.8%. Among equity benchmarks, the S&P 500 Index has gained almost 4% in 2021.

Furthermore, the report also notes that gold’s decline in 2021 has been accompanied by “a steady drawdown in holdings in gold-backed exchange-traded funds.” According to the report, “global ETF volumes have sunk to the lowest since June, losing about 150 tons so far in 2021.”

Meanwhile, in laying out his predictions for the precious metal, the portfolio manager hints at possible headwinds for the commodity. Koesterich points to “more stimulus and improving vaccine distribution (which) suggest the possibility of an economic surge” as his reasons for the negative prediction. Coincidentally, Koesterich’s sentiments about gold’s prospects are also shared by ABN Amro Bank, which warned in January “that gold had peaked and would drop.”

Do you agree with Koesterich’s sentiments about gold? Tell us what you think in the comments section below.

Source: news.bitcoin.com

Author: by
Terence Zimwara


Rock Legend Gene Simmons Talks Bitcoin: Musician Believes China Is Behind the Ripple Lawsuit, Dollars Are Based on Nothing – Featured Bitcoin News

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