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Cryptocurrency

Why buying Bitcoin now looks like investing in Google, Apple, Facebook 10years ago

Crypto enthusiasts have likened the paronage of Bitcoin today to that of top tech brands like Google, Facebook and Apple a decade ago.

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Why buying Bitcoin now looks like investing in Google, Apple, Facebook 10years ago

MicroStrategy CEO, Michael Saylor, recently aired his view on why buying flagship crypto, Bitcoin now would look like investing in today’s multi-trillion dollar tech brands 10 years ago.

In an exclusive interview with Block Journal, Saylor spoke on the key reasons his company invested $425 million in Bitcoin as a store of wealth option.

READ: A billion dollar worth of Bitcoin moved by unknown identity

In the interview, Saylor said that Bitcoin is not only a hedge against asset inflation but also serves as the first true and possibly “dominant digital monetary network.”

Saylor goes on to liken the use of the cryptocurrency to that of other revolutionary digital service giants.

READ: 98% of Bitcoin wallets in profit, hit 2-year high

“And when I say digital monetary network I put it on the shelf next to Google being the first digital search network, YouTube being the first digital video network, Apple being the first digital mobile network, and Facebook is the first digital social network. It’s a pretty powerful thing.”

The CEO further disclosed that Bitcoin’s store-of-value properties beat those of the precious metal because the crypto asset is “harder, smarter, faster, and stronger” than physical gold.

READ: Bitcoin whale transfers $105 million worth of crypto, BTC trading at $15,800

Saylor also urged that considering Bitcoin’s 2020 yearly gains, buying now is getting in early.

“It’s got an upside that feels like buying Apple, Facebook, Google, or Amazon a decade ago. Where it could go from here is pretty interesting,” Saylor said.

READ: How investors make money from Bitcoin without owning crypto

What you should know

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Nairametrics some months ago, broke the news that Saylor convinced the board of MicroStrategy to allocate nearly all of the company’s $425 million cash position to bitcoin.

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MicroStrategy has made a number of headlines in recent times for its initial $250 million Bitcoin (BTC) investment.

READ: RippleNet processed over 2 million transactions

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The company later poured a subsequent $175 million into the asset – a lengthy endeavor totaling almost 100 hours of work.

Olumide Adesina is a France-born Nigerian. He is a Certified Investment Trader, with more than 15 years of working expertise in Investment trading. Follow Olumide on Twitter @tokunboadesina. He is a Member of the Chartered Financial Analyst Society.

1 Comment

1 Comment

  1. Moshood

    November 11, 2020 at 1:03 pm

    Crypto is the Future

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Cryptocurrency

List of unpopular Cryptos likely to outperform

Tyler Swope has tipped some pretty unknown crypto assets of likely doing very well, amid the recent price correction.

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4 cryptos gain over 400% in a month, far outperforming Bitcoin

Despite the recent consolidation in crypto assets, a top crypto strategist trader, Tyler Swope has tipped some pretty unknown crypto assets of likely doing very well, amid the recent price correction that seems to be pausing the bullish momentum.

The crypto trader told his 201, 000 followers on Youtube that he was recommending decentralized finance (DeFi) platform Bao Finance (BAO).

He went on by giving his bias it on the fact that the unknown crypto asset was making progress while settling down from its initial hype stage;

“The xDai pools are deployed, a few minor bugs, but as we can see from the Baoman’s mouth: ‘Block rewards were pushed back one more day but the farms are working and stable. User deposits can start now.’ Yes, the crops are ready to be farmed on xDai. They are moving exactly as planned,” Swope said.

The top influencer further hinted that the crypto-asset could be used as collateral for spot trading on the FTX crypto exchange.

The other crypto asset on the experts’ list includes Deus Finance (DEUS), which is created in allowing users to trade conventional investments asset like equities and commodities directly on Ethereum.

“Deus is officially launching its decentralized trading platform in the next 48 hours. You will be able to trade hundreds of stocks, forex, and selected cryptos on xDai without time restriction,” he stated.

The crypto asset on Swope’s radar is DeFi platform Non-Fungible Yearn (NFY). He recommended the crypto asset taking to account it is expanding the opportunities in the non-fungible tokens (NFTs) subsector by “taking NFTs and applying it to DeFi.”

“They are the first DeFi protocol to utilize NFTs to make yield farming more secure and flexible by protecting the wallet and allowing the first transferable stake. What this does is create an ecosystem where instead of wallet addresses that represent the right to stake, an NFT will represent the right to the staked funds and the yield they generate. You will be able to trade your staked tokens and future yield via an NFT,” he added.

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Cryptocurrency

Football-based Crypto, is world best performing Crypto in 7 days

Chiliz traded at $0.105397 with a daily trading volume of about $589 million.

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A pretty unknown crypto asset, based on arguably the most popular sport has outperformed all major Crypto assets tracked by Nairametrics Week to Week.

At press time, the sport-based Crypto traded at $0.105397 with a daily trading volume of about $589 million. Chiliz is up 97% for the week.

Chiliz is currently ranked the 91st most valuable crypto asset, a market value of $573,581,586 It has a circulating supply of 5,442,094,892 CHZ coins and a maximum supply of 8,888,888,888 CHZ coins

The fast-rising crypto can be traded on the following crypto exchange trading that includes OKEx, HBTC, Binance, Huobi Global, and Xtheta Global.

READ: Red Sunday: Crypto market drops $70 billion in value as Bitcoin, Ethereum, Litcoin tumble

Chiliz, powering Socios.com, aims to give sports and esports fans the ability to crowd-manage their favorite teams, games, leagues, and events.

Football clubs are now using blockchain, to facilitate better experiences for their fans.

Football is by far the most popular game worldwide. The last football World Cup tournament held in Russia 2018, had over 3.5 billion individuals watching the matches. This shows that about half of the world’s population is keen on football.

READ: Big whale makes biggest Bitcoin transfer worth $5.6 billion for just $18

Nairametrics believes such partnerships with these football clubs via blockchain will open more economic opportunities and leverage the wider audience via collaboration with the industry’s global brands.

Socios.com Fan Token partners include Juventus, AS Roma, Galatasaray, FC Barcelona, Atlético de Madrid, Paris Saint-Germain, CA Independiente, Apollon Limassol and esports organizations Team Heretics and OG.

Dozens of more clubs are set to launch Fan Tokens before the end of the year, with many leading IPs from sports and entertainment also primed to join the Socios.com roster in the near future.

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