CryptoNews for Monday
To start the week with fast news: JP Morgan and Bitcoin, how many wallets are there with 1 BTC or more ?, the ignorance of the millennials, MasterCard invests $ 1 billion in Fintech, Google and Android Vs Huawei.
JP Morgan believes that Bitcoin is overvalued: The banking giant argues that the recent price rise means that BTC is trading above its intrinsic value. The bank came to this conclusion after treating Bitcoin as a product and calculating the cost of producing a coin. The bank estimated the cost of producing a Bitcoin, considering factors such as computing power, electricity expenditure and hardware energy efficiency.
According to JPMorgan strategists, defining the intrinsic value of a cryptocurrency is a difficult task. And that is why opinions on Bitcoin vary, as some researchers believe that the cryptocurrency has no fundamental value, while others say that the intrinsic value is well above the current price.
JPMorgan’s stance towards digital currencies seems to have changed as the bank has exposed its interest in developing its own crypto called JPM Coin.
How many portfolios are there with at least 1 Bitcoin?
Currently there are 732,982 Bitcoin addresses that contain more than 1 BTC, if we assume that each address corresponds to a person, the data represents approximately 0.01% of the world population (1% of 1%). Compared to the more than 20 million known addresses, this figure represents a small number of owners of “full bitcoins”.
According to BitInfoCharts data show that 60 percent of all BTC has not moved in more than 12 months. Many of these BTC addresses show a disproportionate level of entries versus exits, indicating an accumulation by the big players.
Each of the top 100 addresses has added a significant number of BTCs to its treasury with only a handful of accounts showing exits. Even such outputs could be considered as transfers to other addresses belonging to the same owner.
We are in the era of “digital scarcity” and everything seems to indicate that Bitcoin is preparing to be the most precious digital good in the future.
Mastercard invests $ 1 billion in Fintech in India: The global payment processor Mastercard has revealed an investment commitment of USD 1 billion for the development of financial technology (fintech) in India over the next five years, reports the technology portal fintech technology Techiexpert. This financing will go to a national transaction processing center in the entire site in the city of Pune, as well as to other Fintech startups in the country.
The co-president of Mastercard Asia Pacific, Ari Sarker, commented on the strategic investment: “India is a unique country with an ecosystem of progressive payments. We are excited about our incremental and significant investment plans for this market, which we believe will be convincing differentiators for us … This investment is based on what is a lasting and focused strategy for us in this market, and will also allow us to explore ways to expand our collaborations and local partnerships while deepening our commitment to the government’s vision of moving towards a cashless society ».
Huawei will not be able to install Android or Google applications on their next phones: This weekend it was learned that the American company famous for its powerful search engine, will prevent the largest manufacturer of telecommunications equipment in the world using some updates within the operating system Android
This is because the administration of President Donald Trump officially included Huawei on the blacklist of the Department of Commerce. In addition to banning the sale of any Huawei product in the United States (including cell phones and network equipment), no US company can do business with the Chinese company without government approval. In a statement, Google said it was “complying with the order and reviewing the implications.”
If the blockade continues, Huawei will not have support or updates from Google, but will still have access to AOSP, the basic version of Android available through an open source license. This means that your next phones will have to use a fork of the operating system with their own application store: Huawei App Gallery.
Ignorant Millennials who think that Bitcoin can challenge gold: CEO of US Global Investors: In an interview with Kitco News, Frank Holmes, CEO of US Global Investors, says that the idea is mainly in the hands of a generation that needs to do its homework. “I think there’s a whole audience of millenials ignore
Ignorant Millennials who think that Bitcoin can challenge gold: CEO
of US Global Investors: In an interview with Kitco News, Frank
Holmes, CEO of US Global Investors, says that the idea is mainly in
the hands of a generation that needs to do its homework. “I
think there’s a whole audience of ignorant millennials. I really
believe that by having work habit problems that I have encountered
from people trying to have it, their whole world is a kind of
rebellion against anything and everything. It’s just nonsense.
He also commented: Millennials should do their homework, they should open a history book about why gold is so significant .
The Bitcoin vs. Gold debate is becoming an endless one in the financial world and encrypted with each passing day. Relatively young and tech-savvy people generally support the concept of Bitcoin, while traditional and conservative financial gurus such as Warren Buffett discard the digital asset altogether. The one who can should have both instead of confronting them.
Disclaimer: This press release is for informational purposes information does not constitute investment advice or an offer to invest. The views expressed in this article are those of the author and do not necessarily represent the views of infocoin, and should not be attributed to, Infocoin.information does not constitute investment advice or an offer to invest.