Welcome to the PMBug forums - a watering hole for folks interested in gold, silver, precious metals, sound money, investing, market and economic news, central bank monetary policies, politics and more. You can visit the forum page to see the list of forum nodes (categories/rooms) for topics.
Why not register an account and join the discussions? When you register an account and log in, you may enjoy additional benefits including no Google ads, market data/charts, access to trade/barter with the community and much more. Registering an account is free - you have nothing to lose!
...
The European Central Bank is predicting Bitcoin’s imminent demise. ...
I wonder if they have a citation for that.
Citrea, a project incubated by Chainway Labs, came out of stealth to propose the first Bitcoin native scaling solution involving ZK rollups. The innovation, which takes advantage of the possibilities introduced by BitVM to natively verify zero-knowledge (ZK) proofs without making any changes to the protocol, takes a different approach to blockchain scaling.
For Citrea, any project that seeks to scale Bitcoin without using its blockspace is not helping it scale and will eventually become a competition for Bitcoin itself. Also, these solutions fail to address the functionalities needed to make Bitcoin the foundation for world finance: the Lightning Network fails to add programmability to Bitcoin. Similarly, sidechains fail to use Bitcoin blockspace, diverting their action to other chains.
Citrea proposes a solution that addresses these two aspects, leveraging ZK proofs that use the Bitcoin blockspace to settle its transactions while sharding the execution task to its virtual machine. Citrea claims it is the “only execution layer on Bitcoin that settles on Bitcoin, the first ZK proof verification, and the first universal L2 verification inside Bitcoin.”
Citrea also allows the implementation of Ethereum Virtual Machine (EVM) apps on top of Bitcoin, allowing it to become the bedrock for different apps that have been pushed to other chains that lack the trust and security that Bitcoin offers. Nonetheless, it is not limited to EVM apps and can adopt new virtual machines due to its modular architecture.
The project is already being tested in a private testnet. Citrea reported that it is working hard to launch a public testnet for its product, with more information available in the coming months.
Did President Biden Just Endorse Bitcoin?
The octogenarian politician is sporting laser eyes on Twitter, seemingly unaware it is a symbol of support for the cryptocurrency.
...
Franklin Templeton has applied for a spot Ethereum exchange-traded fund (ETF), a filing with the Securities and Exchange Commission (SEC) shows.
The asset manager joins BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco and Galaxy, and Hashdex, who have all submitted applications in recent months.
...
Bets on futures tracking Solana’s SOL have risen to a lifetime peak of $1.7 billion in the past week, with bulls leading the charge.
Notional open interest – or the dollar value locked in the number of unsettled futures contracts – has risen over $700 million since the start of February to $1.7 billion, with $400 million added since Feb.8. This exceeds the $1.4 billion figure set in late December, the previous record when the ecosystem saw a meme coin-led frenzy.
Data from tracking service Coinalyze shows over 63% of positions are long or betting on higher prices – implying upward of $1 billion in bullish futures bets.
...
Crypto traders may want to pull up ether’s (ETH) relative strength index (RSI) on their screens as the popular technical analysis tool is signaling uptrend acceleration ahead.
RSI, developed by J. Welles Wilder, is a momentum indicator that measures the speed and change of price movements over a set period, usually 14 days or 14 weeks.
The indicator oscillates between 0 and 100, with readings above 70, indicating strong upward momentum instead of overbought conditions as popularly perceived. Meanwhile, readings below 30 show strong downward momentum.
EEther’s14-week RSI has crossed above 70. Parabolic bull runs unfolded following similar crossovers in January 2016, February 2017, December 2017, July and November 2020 and March 2021.
...
The ether (ETH) price rose through the $2,700 mark early Thursday for the first time since May 2022 as traders bet on the possibility of a spot ETH exchange-traded fund (ETF) approval in the U.S., a move that could boost its institutional appeal.
As of Thursday, Franklin Templeton, BlackRock, Fidelity, Ark and 21Shares, Grayscale, VanEck, Invesco and Galaxy, and Hashdex, had all submitted applications for an ether ETF. ...
...
Traders say ether could be headed back to its 2022 highs in the coming months. The token’s lifetime peak was nearly $5,000 in November 2021.
“Possibly as part of a new wave of growth, ETH could quickly find itself approaching $3500 - returning to the April 2022 peak,” Alex Kuptsikevich, a FxPro senior market analyst, said in an email to CoinDesk.
“The 15% rise in less than nine days suggests impressive buying interest after the bulls reloaded their positions in January,” he said.
They have a plan, and you're not privy.So many bullish headlines this morning...
All these people trying to reinvent gold.lol. The headlines are from a crypto mag, so they publish bullish news when it's there, but it isn't always there. There just happens to be some convergence of news with Bitcoin and Ethereum driving the bus. It's not always a conspiracy and "they" (meaning the elites/government) hate crypto (see war on crypto and CBDC = TOFO).
so, the conservative ETF with 1% crypto and 0% gold...
Why invest in this fund?...
- A global multi-asset strategy designed with a neutral mix of approximately 40% equity factors, 59% systematic and actively managed fixed income ETFs and 1% cryptocurrencies.
I was wondering why your "All-in-One" Conservative ETF Fund does not include any allocation to gold. Is gold not considered a conservative investment?
Imo it has nothing to do with financial reasons, this is just psychology.Not sure why it wouldn't include an allocation to gold.
... Responding to a question ... his view on crypto ..., Waller reiterated his position from a year ago that ... people buy and hold them hoping someone else will pay more later. ...
Trading volumes of VanEck’s HODL, one of the ten spot bitcoin (BTC) exchange-traded funds in the U.S. (ETF), surged over 2,200% on Tuesday in a move driven by individual traders.
HODL traded over $400 million in volumes on Tuesday, a 22-fold jump over its daily average of $17 million. The figures came ahead of a planned fee cut on Wednesday, when VanEck will reduce its offering fees from 0.25% to 0.20%, as per a filing.
HODL’s volumes were the third-largest after Grayscale’s GBTC and BlockRock’s IBIT, the usual leaders. The ETF now holds nearly $200 million worth of bitcoin as of Feb.20, data shows.
Bloomberg Intelligence analyst Eric Balchunas said on X that the volumes came from 32,000 individual trades instead of one big investor – showing signs of a retail mania.
...
What's going to be funny is, as bitcoin pumps, Microstrategy will eventually get added to S&P500, then nocoiners in index funds will become passive investors in Bitcoin.
...
Criteria for Inclusion in the S&P 500
A company must meet the following criteria to be selected by the Index Committee and be included in the S&P 500 index:
- The company should be from the U.S.
- Its market cap must be at least $8.2 billion.
- Its shares must be highly liquid.
- At least 50% of its outstanding shares must be available for public trading.
- It must report positive earnings in the most recent quarter.
- The sum of its earnings in the previous four quarters must be positive.
Any company that satisfies the above conditions can be considered for inclusion in the index. However, the ones that actually make it are the ones with the largest market capitalization. Since share prices fluctuate over time, the constituents of the index keep changing.
...
Institutional speculation has officially arrived for Bitcoin (BTC) as the latest statistics for the listed spot BTC exchange-traded funds (ETFs) show that flows have been ramping up this week, with the total average daily volume surpassing $2 billion.
BlackRock’s iShares Bitcoin Trust (IBIT) continues to be the most preferred Bitcoin investment vehicle among investors, setting and then breaking its own trading volume record each day this week. According to BitMEX Research, IBIT recorded inflows of $520 million on Tuesday, accounting for the vast majority of inflows for the day, which totaled $576.8 million.
The Fidelity Wise Origin Bitcoin Fund (FBTC) came in second with inflows of $126 million, while Grayscale recorded outflows of $125.6 million, decreasing the net inflows.
Data provided by Farside shows that, in total, the nine new ETFs have recorded inflows of $6.73 billion since launching, with IBIT accounting for $6.54 billion of the total.
...
Wall Street giant Morgan Stanley is in the midst of performing due diligence to add spot bitcoin ETF products to its brokerage platform, according to two people with knowledge of the matter.
One of the people said Morgan Stanley, which is among the largest U.S. broker-dealer platforms, has been evaluating offering spot bitcoin ETFs to clients since the Securities and Exchange Commission approved their introduction in the U.S. in January.
Although billions of dollars have already been invested in these products, the investment floodgates might not open until the bitcoin ETFs are offered by big registered investment advisor (RIA) networks and broker-dealers platforms such as those attached to firms like Merrill Lynch, Morgan Stanley, Wells Fargo and others.
...
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?