Anthony Scaramucci, the founder and managing partner of Skybridge Capital, has commented on the potential for Berkshire Hathaway, the holding conglomerate founded by Warren Buffett, to buy bitcoin. While acknowledging Buffett’s negative stance on crypto, Scaramucci believes it’s still a possibility. ‘Never say never,’ stated Scaramucci. Skybridge Capital’s Anthony Scaramucci on Berkshire Hathaway Putting Money […]
Bitcoin News
Analyst: Bitcoin Has Never Been This Bullish, What’s Next?
While Bitcoin treads water around ,000, with some predicting a slump, one analyst on X is swimming against the current, claiming the coin has “never been this bullish.” The coin is bullish despite cooling off from 2024 highs above ,000.
Analyst: Bitcoin Is Bullish, Here’s Why
The analyst Mags argues that Bitcoin is, at spot rates, defying historical patterns and showing bullish signals, especially looking at the candlestick arrangements. Specifically, Bitcoin recently closed a weekly candle above the 0.618 Fibonacci level before the next halving event. Mags said this is the first time in the four-year cycle.
Therefore, though Bitcoin prices have been moving horizontally in the past few trading days, with fears of price slumps, the development in the weekly chart is overly bullish. Further bolstering their optimism, Mags points to the increasing demand for Bitcoin from institutional investors following the launch of spot Bitcoin exchange-traded funds (ETFs).
Wall Street heavyweights, including Fidelity, issue some of these products. BitMEX Research data shows that spot ETFs continue to siphon more and more coins from circulating supply, sending them to custodians, like Coinbase Custody, for safekeeping. These coins will likely be released in the coming years, not months.
Besides institutional interest, optimism for more price gains also stems from the absence of retail interest at spot rates. Data from Coinbase shows that unlike the spike in interest that drove Bitcoin to ,000, mainly at the back of retailers, BTC prices are up, but the dynamics are changing.
Will Retailers Take BTC To New Levels?
Solid data reveals that retailers are mostly not interested in the coin at spot rates, looking at the amount retailers have been spending on the coin. By Q4 2021, retailers acquiring Bitcoin via Coinbase spent roughly 7 billion. However, this figure sharply fell throughout 2022 during the bear market, finding support in H2 2023.
Then, according to exchange data shared by Will Clemente on X, retailers began loading the coin from Q3 2023. The figure has risen to around billion in Q1 2024–less than 25% of Q4 2021 volumes.
How retailers will impact the price of Bitcoin in the future is yet to be seen. In the past, retail fear of missing out (FOMO) has been a critical price driver. Presently, CoinStats sentiment tracker, Fear & Greed indicator, stands at 74, at “greed” territory, down from “extreme greed” on February 22.
This reduction could be possible because of the fake breakout that lifted Bitcoin above ,000. The coin has support at ,500 but generally remains in a bullish pattern.
Kevin O’Leary Says He’ll Never Buy Bitcoin ETF — Prefers to Hold BTC Long Term
Kevin O’Leary, aka Mr. Wonderful, says he will never buy a spot bitcoin exchange-traded fund (ETF) as he is holding bitcoin for the long term as digital gold. “Why would I pay these fees?” he said, adding that spot bitcoin ETFs “add no value” and are “completely unnecessary.” However, the Shark Tank star explained that the U.S. Securities and Exchange Commission (SEC) approving spot bitcoin ETFs is great news for institutional investors looking to get into crypto.
Kevin O’Leary Won’t Invest in Spot Bitcoin ETFs
Shark Tank investor Kevin O’Leary, aka Mr. Wonderful, gave some advice regarding spot bitcoin exchange-traded funds (ETFs) in an interview with Fox Business last week. The chairman of O’shares Investments and O’Leary Ventures was asked how investors should decide whether to invest in a spot bitcoin ETF and how to choose among the 11 funds that were approved by the U.S. Securities and Exchange Commission (SEC) last week.
“Well, they are almost identical even though each of the vendors would tell you they are not,” he began. The Shark Tank star proceeded to emphasize that each spot bitcoin ETF has a fee that investors should pay attention to. “You want to look at what the fee structure is,” he advised, noting that the 11 spot bitcoin ETFs have fees ranging from around 0.21% to 1.5%. O’Leary opined:
If you are a purist and you’re just holding bitcoin for the long term as a digital gold, as I am, I will never buy an ETF. Why would I pay these fees? It’s completely unnecessary. They add no value to me.
“The great news in this event is it shows a march forward on regulations toward cryptocurrency,” Mr. Wonderful noted.
Regarding the approved 11 spot bitcoin ETFs, O’Leary stressed: “Not a chance they all survive.” He advised investors to watch their assets under management (AUM). Mr. Wonderful continued:
Maybe two or three will win. I’d bet that behemoths like Fidelity and Blackrock end up on top because they have massive sales forces.
Nonetheless, O’Leary said: “Institutions don’t care about this. They don’t care because they’ll never buy an ETF. They’ll never pay the fees.” However, he noted that the SEC approving spot bitcoin ETFS is “great news,” emphasizing that institutional investors like this development. “This is a good thing for them to eventually get into crypto,” the Shark Tank star concluded.
Earlier this month, O’Leary said he anticipates strong institutional interest in crypto regardless of the SEC decision on spot bitcoin ETFs. In November last year, he revealed that “all” of the institutions and major organizations that he had talked to are prepared to invest in bitcoin. “They aren’t interested in the 10,000 token story,” he said. “Bitcoin is proving itself to be liquid enough, it’s proving itself to be a storage of wealth, most people consider it a commodity.”
What do you think about the statements by Kevin O’Leary about bitcoin and spot bitcoin ETFs? Let us know in the comments section below.
Economist Lord Jim O’Neill Calls BRICS Currency Idea ‘Ridiculous’ — Says China and India Never Agree on Anything
Lord Jim O’Neill, the British economist credited with coining the acronym BRIC, calls the creation of a common BRICS currency “ridiculous,” emphasizing that the BRICS nations have “never achieved anything since they first started meeting.” He added: “It’s a good job for the West that China and India never agree on anything, because if they did the dominance of the dollar would be a lot more vulnerable.”
Lord Jim O’Neill Slams Common BRICS Currency Idea
British economist Lord Jim O’Neill shared his view on the proposed single BRICS currency in an interview with the Financial Times this week. The BRICS leaders are set to meet at the economic bloc’s 15th summit on Aug. 22-24 in Johannesburg. South Africa is the host of the BRICS summit this year. However, there are mixed reports on whether the creation of a common BRICS currency will be discussed at the summit.
O’Neill, a former Goldman Sachs economist, coined the acronym BRIC over 20 years ago to describe the economic potential of Brazil, Russia, India, and China. South Africa joined the group a few years later, and the acronym was changed to BRICS. O’Neill is now a senior adviser at U.K. think tank Chatham House.
The economist asserted that the BRICS nations had “never achieved anything since they first started meeting” eight years after he created the phrase in a 2001 research note. He believes that a common currency for the BRICS economic bloc would be unfeasible, stating:
It’s just ridiculous … They’re going to create a BRICS central bank? How would you do that? It’s embarrassing, almost.
“Quite what they attempt to achieve beyond powerful symbolism, I don’t know,” he opined.
In June, Lord O’Neill similarly described the idea of a single currency for the BRICS nations as “ridiculous” and “amusing.” He stressed that “China and India never agree on anything,” pointing out that the two countries “can’t even really agree on basic things like a peaceful border.”
U.S. Dollar Could Lose Its Dominance, Lord O’Neill Warns
The British economist also commented on the dominance of the U.S. dollar, emphasizing that the USD’s dominant position in the global financial system is not beneficial for emerging countries. He described:
The dollar’s role is not ideal for the way the world has evolved. You’ve got all these economies who live on this cyclical never-ending twist of whatever the [U.S. Federal Reserve] decides to do in the interests of the U.S.
Some economists have predicted that other currencies, such as the Chinese yuan, the Japanese yen, or the euro, would eventually overtake the U.S. dollar. However, O’Neill cautioned: “None of these things will ever happen until those countries want to have their currencies used by people in other parts of the world.”
The former Goldman economist noted:
It’s a good job for the West that China and India never agree on anything, because if they did the dominance of the dollar would be a lot more vulnerable.
In June, Lord O’Neill also warned that the U.S. dollar will lose its dominant status as the world’s reserve currency. He expects the Chinese yuan and possibly the Indian rupee to become “much more important currencies for the world.” He stressed: “I do think if China and India could ever strongly agree on things as the two biggest countries in the emerging world … then that would probably hasten the end of the dollar’s dominance.”
Do you agree with economist Lord Jim O’Neill about the proposed common BRICS currency being “ridiculous”? Let us know in the comments section below.
Former SEC Official Warns ‘Crypto Regulatory Onslaught Will Never End’
The U.S. Securities and Exchange Commission’s former head of internet enforcement has warned that “crypto regulatory onslaught will never end.” He claimed that cryptocurrency trading platforms, like Binance and Coinbase, are simply playing “a short game of regulatory arbitrage, all carried out in an effort to make as much fiat as possible before their inevitable demise.”
Former SEC Official’s Warning of Ongoing Crypto Regulatory Sweep
Former U.S. Securities and Exchange Commission (SEC) official John Reed Stark warned in a lengthy tweet on Saturday that “the SEC’s crypto-regulatory onslaught will never end (ever).” Stark is currently president of cybersecurity firm John Reed Stark Consulting. He founded and served as chief of the SEC Office of Internet Enforcement for 11 years. He was also an SEC enforcement attorney for 15 years.
Referring to the recent regulatory action taken by the SEC against cryptocurrency exchange Bittrex, he pointed out that the charges against Bittrex mirror those taken against other crypto exchanges, including Coinbase and . The former SEC official stressed that “by calling themselves ‘exchanges,’ ‘brokers,’ and ‘market-makers,’ crypto trading platforms like Bittrex, Beaxy, Coinbase, Binance, and others co-opt historically powerful nomenclature that implies trust, oversight and consumer protection, etc.” He cautioned: “This powerful grift can quickly evolve into dangerous and unlawful marketing theater.”
He explained that “Congress enacted the Securities and Exchange Act of 1934 to prevent and police investment schemes orchestrated by large financial conglomerates of any ilk.” Emphasized that “a Walking Dead-like post-apocalyptic marketplace quickly evolves” without SEC registration, the former SEC official asserted:
This is why the SEC’s crypto-enforcement sweep will never end.
He added that the crypto regulatory onslaught will not end because the SEC has a “threefold mission (to protect investors; to maintain fair, orderly and efficient markets; and to facilitate capital formation)” that is “far too critical for the SEC to relent.”
Stark proceeded to detail the importance of SEC exchange registration and broker-dealer registration for crypto platforms that list tokens that are securities. According to SEC Chairman Gary Gensler, all crypto tokens, except bitcoin, are securities. However, a recent court ruling found that XRP is also not a security.
He also discussed “the defiance of crypto trading firms,” stating: “For years too many crypto trading platforms have been operating as unregistered exchanges.” The former SEC internet enforcement chief claimed: “Crypto trading firms have carried out these functions despite the fact that the crypto assets it has made available have included crypto asset securities,” adding:
Financial firms like Binance, Coinbase, Beaxy, Bittrex, and other crypto-trading platforms are simply playing (and winning) a short game of regulatory arbitrage, all carried out in an effort to make as much fiat as possible before their inevitable demise (or severe reduction in size).
“The biggest irony is that these so-called ‘crypto-exchanges’ claim to be champions of the future of finance and promote themselves as digital couriers of transformative innovation that is the future of money,” Stark continued. “Don’t be fooled. Beneath their sophisticated exterior, these crypto trading platforms are masquerading a spectacularly mammoth (and effective) affinity fraud that is as old as finance itself.”
What do you think about the warning by former SEC internet enforcement chief John Reed Stark? Let us know in the comments section below.
X Will ‘Never’ Launch a Crypto Token, Says Musk
Tech investor Elon Musk said that his social media platform X, formerly Twitter, will never launch its own cryptocurrency token. He made the statement in response to a post by a user of the networking service warning about fake coin projects exploiting Musk’s name and that of the platform.
Elon Musk Categorically Rejects Notion of X Issuing a Token
X will “never” launch its own crypto token, its owner, billionaire investor Elon Musk, stated explicitly. He was replying to a post by a user with the handle @cb_doge who warned others about articles advertising non-existent tokens.
The latter bear names such as “$X token” and “Twitter token,” creating the false impression of links to or authorization by X or Twitter, its previous brand name, and Musk. Investors are lured with claims of incredible price gains in short periods of time.
Elon Musk and 𝕏 never launched a crypto token. Be careful of such articles.
pic.twitter.com/tZqfwMMm2X
— DogeDesigner (@cb_doge) August 5, 2023
The warning points out that neither the social media network nor its owner have ever launched a digital token. “And we never will,” responded Elon Musk who bought Twitter for billion last year and is now rebranding it to X.
The clickbait media titles also reference the favorite crypto of X’s former CEO and current tech chief, dogecoin. DOGE has become one of the most recognizable and popular meme coins, largely due to Musk’s association with it and shilling.
In June, Elon Musk was accused of insider trading in a class-action lawsuit involving dogecoin. The price of DOGE jumped by 30% when the entrepreneur temporarily altered Twitter’s logo to feature that of the meme coin. Plaintiffs claimed that the change had inflated its price.
Eventually, Musk replaced the iconic blue bird permanently in July with the current X logo. In a post, he explained that the Twitter name does not make sense anymore, since messages are not restricted in terms of characters and users can post even large videos.
“So we must bid adieu to the bird,” Musk said while also highlighting the role he envisages for the social media platform in his plan to build a super-app. “In the months to come, we will add comprehensive communications and the ability to conduct your entire financial world,” the owner promised without specifying whether that would include cryptocurrencies.
Do you think Elon Musk may change his mind about issuing an X token in the future? Tell us in the comments section below.
Ethereum Co-Founder Says Crypto Ecosystem Has Never Been Better or Stronger
Ethereum co-founder Joseph Lubin says the strength of the crypto ecosystem “has never been better or stronger.” He believes “more clarity” from regulators would be helpful for the crypto industry. “I think our industry has suffered from having two major factions lumped into one: the money-crypto faction … and the tech-crypto faction,” he explained.
Ethereum’s Co-Founder on Crypto Ecosystem, Regulation
Ethereum co-founder Joseph Lubin discussed the state of the crypto ecosystem, regulation, and whether ether (ETH) is a security in an interview with CNBC last Wednesday.
“The strength of our ecosystem has never been better or stronger,” he began. While noting that “There are certainly headwinds — some microeconomic, financial headwinds — out in the world,” as well as “banking issues for a small number of companies” in the crypto space, he emphasized: “The sizes of the conferences that are going on in Paris and Denver and Los Angeles have never been bigger.” The Ethereum co-founder added:
Once the builders come into our ecosystem to build essentially an alternative economy, they don’t leave. The speculators run in and they run out, but the building has never been better.
Commenting on why the prices of bitcoin and ether have been rising, he said: “Because they’re sound. Bitcoin is sound money. Ether is ultrasound money … the development, the use cases, the usability, the scalability in the Ethereum ecosystem — it’s never been better. It’s accelerating.” Lubin also noted that the possibility of the Federal Reserve hiking interest rates less aggressively in the future has helped boost the prices of cryptocurrencies. “It’s an inflation hedge,” he stressed.
Regarding cryptocurrency regulation and the aggressive enforcement actions by the U.S. Securities and Exchange Commission (SEC), the Ethereum co-founder opined:
I think more clarity, being more explicit would be helpful to our industry. I think our industry has suffered from having two major factions lumped into one: the money crypto faction … and the tech crypto faction, which is just building decentralized protocols infrastructure.
While noting that “Money crypto absolutely should be regulated” and “Money crypto people issued tokens that are rightly seen as securities,” he argued: “Tech crypto people are just technologists. We are just building infrastructure that the traditional economy can use, and our economy can use, and you don’t want to regulate innovation.”
Is Ether a Security?
Lubin also commented on regulators alleging that ether is a security. Responding to the claim made by the New York Attorney General in its lawsuit against crypto exchange Kucoin that ETH is a security, the Ethereum co-founder said: “Anybody can say anything, it doesn’t make it true.”
SEC Chairman Gary Gensler has stated several times that all crypto tokens besides bitcoin are securities “because there’s a group in the middle and the public is anticipating profits based on that group.” Lubin argued:
People buy barrels of oil with the expectation of profit.
When asked whether he is confident that ether is not a security, the Ethereum co-founder replied: “I don’t think there’s any point to speculate on something that is extremely unlikely.”
There are differing opinions among U.S. regulators about whether ether should be classified as a security. SEC Chair Gensler believes that ETH is a security, while the chairman of the Commodity Futures Trading Commission (CFTC) has stated multiple times that it is a commodity. However, both regulators agree that bitcoin is a commodity.
What do you think about the statements by Ethereum co-founder Joseph Lubin? Let us know in the comments section below.
Now Or Never: Bitcoin Builds Base At Decade-Long Parabolic Curve
The masses are bearish on Bitcoin. The market is convinced that prices below ,000 will be revisited given the continued weakness in the top cryptocurrency by market cap. All eyes are on the massive “bear flag,” but could it instead be a bear trap?
Bitcoin price continues to grind along a decade long parabolic trend line that in the past has put in several mid- to long-term bottoms. Here is a closer look at a currently unbroken trend line that BTCUSD must hold for continued parabolic momentum and what it could mean if we get a bounce from here.
Unbroken Decade-Long Parabolic Bull Trend Readies Base 4
If you ask around, most people will explain with certainty the several reasons they have for why Bitcoin is destined for sub-,000. Meanwhile, the price per BTC is grinding along a parabolic support line that over the last decade has proven to put in bottom after bottom.
Related Reading | Bitcoin Bear Market Comparison Says It Is Almost Time For Bull Season
The cryptocurrency became a household name in late 2017 due to its parabolic rally that eventually broke down and took the price per cryptocurrency back to ,200. The retest of that level on Black Thursday only added to the base-building in the chart below.
Attention, base 4. Are we cleared for liftoff? | Source: BTCUSD on TradingView.com
Comparing the curved, decade-long trend line with the parabolic curve pattern pictured above, there is a chance base 4 is in the process of being built. Between base 3 and base 4, the parabolic asset – BTC in this case – doubles in value in a very short time.
From late 2020 to April 2021, Bitcoin price grew over six to twelve times in value during what would have been the run up from base 3 to base 4. According to this diagram, base 4 is also quite steep, allowing price to climb dramatically higher. The only problem is, this final base, if valid, suggests the end is near for this decade-long bull trend line.
With a parabolic trend line violated, the top cryptocurrency by market cap could plunge as much as 80% from whatever highs are set. Past bear markets have resulted in more than 84% declines from top to bottom. Parabolic rallies also tend to break down faster than it took to climb – similar to a rollercoaster’s anxiety-inducing ascent, followed by a speedy plunge and the ride is over until you decide to get on once again.
“Bulls take the stairs, bears take the elevator”
On-chain signals support a bottom at this level | Source: Glassnode
On-Chain Signals Support Bitcoin Bottom At Current Levels
On-chain signals, like entity-adjusted dormancy flow exhibit similar signs of accumulation going on as other moments Bitcoin put in a significant bottom. Several of these on-chain bottoms arrived precisely as the price per BTC touched down on the parabolic trend line.
Related Reading | Crypto Mimics Textbook Market Sentiment Cycle, What Happens When Confidence Returns?
Could this be a mere coincidence, or is there more validity that this parabolic trend line holds, a new base is build, and the final phase of the Bitcoin rally begins?
Follow @TonySpilotroBTC on Twitter or join the TonyTradesBTC Telegram for exclusive daily market insights and technical analysis education. Please note: Content is educational and should not be considered investment advice.
Featured image from iStockPhoto, Charts from TradingView.com
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Why Bitcoin Will Never Surpass The Market Cap Of Gold
Bitcoin has been pitted against gold at various turns since the digital asset started going mainstream. Enthusiasts have finally settled on referring to the former as ‘digital gold’ while continuing to push that bitcoin will replace gold as the default store of value in the coming years. However, not all bitcoin supporters seem to share this school of thought despite the asset’s growth.
Billionaire Ray Dalio is a supporter of bitcoin and has been vocal about his support for the digital asset at various times in the past, but it seems that Dalio does not believe that bitcoin will replace gold. In a recent podcast episode with Lex Fridman, the billionaire investor shares some insight into both assets and why he believes bitcoin cannot surpass gold in terms of market cap.
Related Reading | By The Numbers: Here’s How Much Bitcoin Michael Saylor Holds
Million Bitcoin Is Impossible
Talking to Fridman, the billionaire laid out his reasons why bitcoin will be unable to replace gold. He points to the traceability of bitcoin and compared this to gold which he says is untraceable as it is not connected. Furthermore, gold is a universally recognized store of value while only a small percentage of the world is estimated to use bitcoin as an investment and a store of value.
He explains that gold still maintains the lead ahead of bitcoin which he does not yet believe will become the apex or the universally accepted form of money. Gold, for one, has been around for thousands of years and is still an accepted form of money or store of value.
BTC falls to K | Source: BTCUSD on TradingView.com
For the reasons that he outlined, Dalio does not believe that bitcoin will ever be able to surpass gold. Furthermore, he explains that he does not believe that bitcoin will reach the price page of million which some bitcoin maximalists have pushed in recent times.
Still A Strong Contender For Gold
Dalio did not completely dismiss how valuable bitcoin is though. The billionaire lauded bitcoin by proclaiming that the digital asset has proved itself despite not being able to serve as a currency due to its volatility. The digital asset has proven to be a safe way to invest as it has never been hacked and continues to operate according to its original programming.
Related Reading | Billionaire Ricardo Salinas: Forget Fiat, Buy Bitcoin Bitcoin Instead
“It has proven itself. It has not been hacked, it has operated in an amazing way over that 11 years to be probably the most exciting topic among a lot of people,” said Dalio. ”It has been used and is now obtained the status of having imputed value.”
The billionaire also revealed that bitcoin ranked highly on his list of assets that he considers to be strong competitors for gold. He still maintains that gold is still his favorite investment but has not written off bitcoin from the running either. A few months ago, Dalio had revealed that he held a small portion of holdings in bitcoin, and had added ethereum to his stash too.
Featured image from Bitcoin News, chart from TradingView.com
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They Said the Internet Would Never Take Off, How About Web 3.0?
Imagine an internet that functioned for the sole purpose of pleasing its users and was not dominated by data collecting giants like Google and Facebook. One that was not being used as a means to harvest our personal data, but rather was built and governed by its users. Now stop imagining, this is Web 3.0.
Web 2.0 was in its way magical, it turned the one-dimensional first version internet into a two-dimensional place to play, work and communicate. Web 3.0 intends to go the next step and turn the internet into a three-dimensional place, where we can “visit” people wherever they are in the world, where we can interact, conduct transactions safely and privately, and where no organization will ever collect our private data or track our activities.
What is Web 3.0?
The difference with Web 3.0 is that it will be based on the blockchain, consisting of a network of different chains that are interoperable, allowing us to deploy smart contracts for smart transactions. The blockchains themselves are built from codes, compiled and authenticated across thousands of decentralized nodes globally, giving no power to any intermediary or middleman, rather run and governed by everyone. All activity is authenticated and automated directly onto the blockchain, which makes transactions or interactions tamper-proof and non-manipulatable.
The real challenge that Web3 faces are adoption by those individuals who do not really comprehend what it is, how it works, and the benefits and are perhaps used to hearing the terms NFT, DeFi and Metaverse but really don’t know what this all means. There will be a need to educate many people on this and the values of the blockchain but as more and more protocols come online and can be used from inside people’s current browsers this will be a step-by-step process. In the meantime, many forward-thinking and often quite revolutionary projects, apps and ecosystems are maturing and being developed, so by the time Web3 sees mass adoption, the industry will be ready and mature enough to cater for its B2B users.
All users will need to have a wallet and a means to purchase cryptocurrency tokens in order to be able to take advantage of the many opportunities they will offer on the blockchain. Many gamers are already realizing the benefits of on-chain gaming, where they can engage in the new play-to-earn model, where they are rewarded for participation, rather than the former models of Pay to Play or Play to Win. Other apps are giving users rewards just for engagement, eg. India’s answer to TikTok, Chingari is rewarding users for both watching short videos and creating them too.
Projects built especially for Web 3.0
Other teams developing purely for Web 3.0 include, SelfKey, an Ethereum based project, builds digital identity systems for users in order to transact over the blockchain, making users ready for Web3 activity. It offers a wallet that enables users full control over their digital identity. It is non-custodial, meaning the user retains full control over their data, documents and digital assets. It allows users to securely store and manage identity docs and digital assets and gives access to various marketplaces to both compare and sign up.
Their other products give access to fintech products and services, bank accounts, residencies, and management of cryptocurrency portfolios of Ethereum-based assets. The project is expected to grow from .4 Million USD in 2018 to Billion USD by 2023, at an annual growth rate of 84.5%.
Partisia Blockchain, is a network built for Web 3.0 that has been developed for trust, transparency, and privacy. The Partisia Blockchain Foundation is a non-profit foundation that supports the development of a public blockchain, Partisia Blockchain, with the goal of interoperability and opening it up to a Web3.0 future. According to Partisia, “To us, Partisia means “Distributed Trust”. Our mission is to establish a WEB 3.0 infrastructure with no single point of trust for generic coordination of public and private information to be used by all applications across all platforms.”
Meanwhile, one venture capital fund that is laser-focused on investing in Web 3 projects said, “Web3 has become the latest buzzword for what crypto and blockchain are all about. It’s the next revolution that will enable us to interact with and dramatically change a lot of the applications which we’ve been seeing emerge in the past 10-15 years”.