Fundstrat’s Bitcoin (BTC) analyst Tom Lee has claimed that the cryptocurrency “could end the year explosively higher,” citing a correlation between it and emerging markets. Lee has made his new prediction in an interview during CNBC's "Trading Nation” show August 25. The Head of Research at Fundstrat Global Advisors has said that he “still think[s] it’s possible” that Bitcoin’s price could surge to as high as $25,000 this year. Lee has based this assumption on the relationship between the price of BTC and BlackRock’s iShares MSCI Emerging Markets exchange-traded fund (ETF), which tracks large and mid-sized companies in emerging markets. …

Charles Hoskinson, co-founder of altcoin Cardano (ADA), tweeted June 20 that the entry of Wall Street into the crypto sector will bring in “tens of trillions of dollars:” What's often missed by the cryptocurrency is going to die broken record media is that after the next wave of regulation, wall street is showing up to the party with all their locked up capital. That's tens of trillions of dollars entering the space eventually. Future is bright — Charles Hoskinson (@IOHK_Charles) June 21, 2018 Cardano, which is currently ranked 8th on Coinmarketcap, has a market cap of around $3.5 billion. Charles …

Tether’s (USDT) long-contested assertion that its digital currency is backed by the appropriate amount of dollar holdings has been seemingly confirmed, Bloomberg reports June 20. According to an interview with Tether’s general counsel Stuart Hoegner, law firm Freeh Sporkin & Sullivan LLP had access to two of Tether’s bank accounts for weeks and released the amount of dollar holdings as of June 1, although not as part of an official audit. The bank accounts will not be named due to privacy concerns, Hoegner notes, adding that the firm had access to banks statements and employees, as well as contact with …

The CEO of crypto mining hardware giant Bitmain, Jihan Wu, has confirmed he is “open” to conducting an overseas initial public offering (IPO), Bloomberg reports today, June 7. Speaking in an interview in Hong Kong, Wu, who claims to own up to 28 percent of China-headquartered Bitmain, said an IPO in the region – or any market which U.S. dollar-denominated shares – would be suitable as a means of allowing early backers to cash in funds. The potential move would mimic Canaan, one of the company’s main competitors, which announced its intention to launch an IPO last month. Canaan occupies …

Bitmex Research released an in-depth report on Tether today, Feb. 19, detailing the reasons why Tether is most likely backed by sufficient fiat reserves after all, and what problems with regulatory bodies Tether will most likely encounter in the future. Tether is a digital token backed by fiat currency, supposedly pegged 1:1 with the US dollar. Due to Tether’s lack of enough publically released bank audits, there are rumors that Tether does not actually have enough fiat in reserves to redeem all Tether tokens with US dollars if the need would arise. The Bitmex report attempts to refute those rumors …

Tether recently announced its integration with the cryptocurrency exchange, Cryptsy, expanding its digitized dollar service. Digital dollars on the blockchain Tether is the first blockchain-enabled platform to allow traditional currency to be used like the US dollar. Now, it can now be used on Cryptsy allowing users to deposit US dollars, which are “tethered” and converted into a 1-to-1 fiat-backed currency called USDT. Tether’s latest fusion with Cryptsy allows its customers to transact with dollars across the exchange without the volatility concerns related to bitcoin. "We're excited to have such an innovative and disruptive approach to digital currency integrated with …

Every major global currency is down against the US dollar for the past 200 days. This has been intentionally engineered by central banks and governments in order to stimulate their weak economies by devaluing their currencies in order to become competitive in global trade. The Almighty Dollar As has been talked about for many months in previous articles, the USD has been the key driver of the global economic situation. Below is a chart of the USD versus all major currencies over the last 200 days. Notice they are all down at least 8%. The euro continues to move towards …

A new study reports that over the last four years, approximately US$11 million in Bitcoin has been stolen from its rightful owners in one way or another. While this may leave you feeling a bit sorry for Bitcoin users, closer examination reveals that they actually came out far, far ahead of dollar users, who suffered a whopping US$4 trillion theft during the same four years. That's trillion with a “t.” The Cost of Theft – Bitcoin vs. Dollars How is it that theft in Bitcoin is a like rain drop compared to the vast ocean of dollar thieving? Turns out …

The Federal Reserve Note (FRN), also called the “U.S. dollar,” was dubbed the worst investment of the last century. As predicted, 2015 has seen the continued fall in value of the currency that was supposed to fuel an advanced economy. In the last 3 days alone, it has lost 12% in value against Bitcoin. Even more shocking is that in the last 100 years, a whopping 98 % of the FRN's purchasing power was lost. Trust-Model vs. Decentralized Model The ominous shadow on the future of the FRN is that it relies on trust – trust in a wholly centralized …

When we last visited this series, I had established that by using services like Gyft and eGifter you could very readily meet your fundamental shopping needs without so much as earning or spending a single US Dollar. Since then there have also been a number of developments relevant towards breaking the dollars stranglehold on our everyday lives. Not the least of which was Paypal’s announcement to integrate Bitcoin into its payment system… but only for digital goods (close but no cigar). Still, progress is progress and the fact that Paypal (a company that processes close to US$200 Billion a year …