STOCKS DOWN YET BITCOIN SKYROCKETS AMIDST US-CHINA TRADE WAR
May has started off on an extraordinary run for Bitcoin (BTC); we have seen the price of the cryptocurrency skyrocket to above $8,100 USD. On Friday 10th May 2019, President Trump’s administration team raised tariffs on $200 billion worth of annual Chinese imports from 10 to 25 per cent. Trump has also announced that he is ready to impose 25 per cent on yet another $300 billion worth of Chinese goods. As a direct result of this, the Dow Jones Industrial Average (DJI) has dropped more than 590 points, with Apple down 5 per cent on the day of the …
U.S – MOVE YOUR MONEY FROM THE BANK INTO BITCOIN
Abra, a non-custodial Bitcoin-backed global investment app has just released their latest service, allowing its users to easily move money to and from their bank into crypto. The app, which is available to Americans only at this stage, supports thousands of U.S banks and credit unions, allowing users to move their money into crypto more easily. Bill Barhydt, CEO of Abra stated in a media release, “The addition of these new liquidity enhancements in or app gives users more ways to move between crypto and fiat. Were particularly excited about our partnership with Plaid, which brings thousands of additional financial …
20% OF YOUNG AMERICANS OWN BITCOIN
In a latest online survey carried out in America by venture capital firm Blockchain Capital (BC), published on April 30, shows that Bitcoin (BTC) awareness and popularity has increased despite the bear market of 2018. “The results highlight that Bitcoin is a demographic mega-trend led by younger age groups”, Spencer Bogart, a partner at Blockchain Capital said. Bogart further went on to say that a staggering 20 per cent of the respondents aged 18-35 claim they already own Bitcoin, the worlds first and most popular cryptocurrency to date. The survey was conducted by Harris Poll, on behalf of BC, running …
Crypto.com Rolling Out Lucrative Rewards
Leading crypto currency platform, Crypto.com, has released a Visa Card that can be used worldwide, with no transaction fees, no ATM fees and lucrative benefits for its users. MCO Visa Card holders now receive free subscriptions with Spotify and Netflix, a 10 per cent discount on leading travel site Expedia.com, a 10 per cent discount through Airbnb reservations and receive one to five per cent cash back (in the form of their native token, MCO) for all purchases made on the card. Users of the card can use it globally and travellers can “spend like a local”. Interbank exchange rates …
Millennials Trust Crypto more than Stocks
Millennials are hard to please and they do not offer out their trust to just anyone or anything. They do not trust the big banks or stock markets. They demand answers from advertisements, Wall Street, Parliament and definitely news outlets. But they do trust Crypto. In a latest survey carried out by eToro, a leading global investment platform, they found that 66 per cent of millennial online traders trust crypto exchanges more than the United States Stock Market. Even those millennials that are not involved yet in trading crypto, one third stated they would trust crypto over the stock market. …
US Pension Fund First To Enter Crypto Asset Universe
Morgan Creek Digital has become the first US pension fund to enter the crypto asset universe, joining the likes of Yale University, the second largest legacy in higher education. This has come after the US national debt has just crossed the landmark level of $22 trillion and the need to devise a potential solution to solve the impending pension crisis in the US. Currently the global debt is hovering above $250 trillion, which is past the debt level of the previous global financial crisis (GFC), which we experienced in 2008. Two pension plans in Fairfax County, Virginia have invested millions …
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