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"Gold is dead" believes billionaire - Mark Cuban
In a Twitter discussion, Cuban, who is becoming increasingly sympathetic to cryptocurrencies, warned Peter Schiff that gold will "die" as a store of value.
Schiff, who has long been known as a staunch Bitcoin skeptic, continues to tweet disparaging remarks about the original cryptocurrency. Not even the price of BTC, which is regularly hitting new records, bothers him. In response to a comment about Wall Street firms being "stupid" for buying Bitcoin, Cuban responded:
Cuban further wrote that gold is a store of value built on technology, so the one with the more efficient technology will be better rewarded. The principle of gold mines is very similar to crypto, according to the billionaire. Finally, Mark Cuban wrote: "Gold is dead Peter. Move on."
Popular cryptocurrency trader and analyst, Kaleo, believes bitcoin will reach a new ATH of $100,000
Kaleo communicated to his 76,500 followers on Twitter that the cryptocurrency market correction is probably finally over. Does this mean a continuation of the bull market?
- The sell-off ends today. Buy more now... - he suggested.
After the end of the correction, Kaleo predicts the continuation of the bull market. In his opinion, BTC is ready to start a new rally on the chart, which would make the leading cryptocurrency more expensive by 100 percent in the next couple of weeks. This would mean a price of as much as $100,000 for 1 BTC.
However, the cryptocurrency analyst is also looking at two altcoins that he believes have strong growth potential.
He is referring to SushiSwap (SUSHI), for example. Kaleo believes that SUSHI is getting ready to make a move above $30.
The other project on Kaleo's list is a gaming platform and its token, Enjin Coin (ENJ). The trader expects a few more days of accumulation in the 70 to 80 cents range before the price moves above $1.
The strategist stresses that his optimistic outlook on ENJ is rooted in the strong fundamentals of the project.
- Another reason I'm so optimistic about ENJ is [the developers'] commitment to the NFT gaming space, which is a market with tremendous future growth potential. Compared to other names in this space, ENJ has been relatively quiet so far," he added.
Rumors about possible Netflix Investment In BTC
In a new episode of the Unstoppable Podcast, Tim Draper said that if he were managing the finances of a giant like Netflix, he would look at BTC as a potential hedge against a lot of dangerous things that could come into the market.
- "If I'm the CFO of one of these big organizations, I say, 'We need to have X percent . [savings] in Bitcoin," because it's a hedge against another currency becoming the currency of the future. And also a hedge against inflation as governments print more and more of their funny dollars," he said.
The Draper Associates founder also added that Netflix CEO Reed Hastings fits his profile as someone who might decide to put bitcoin on his company's balance sheet.
'I think Reed Hastings is a very innovative guy and has a very creative mindset'
Hence the thought that the streaming platform will buy BTC.
Netflix is a top Internet TV service that offers access to movies and series through streaming media for a flat fee. Currently, the service is available worldwide with a few exceptions (the service cannot be used in China, Crimea, North Korea and Syria, for example, due to US government restrictions on US companies).
And what about the other giants?
Google could do something, but I think all of them, Google, Facebook, and Apple, are trying to create a centralized currency that they own. And then there's Amazon. Although Amazon will probably start accepting Bitcoins soon," Draper added.
He also said that various organizations in the market will increasingly and inevitably buy Bitcoins. The reason? The search for a safe haven for times of crisis. Pension funds are expected to join this group.
Goldman Sachs - one of the biggest investment banks resumes cryptocurrency trading
As reported by Reuters, Goldman Sachs has relaunched its cryptocurrency trading division. The resumption of crypto activity is likely related to the ongoing bull market, which has pushed the price of BTC by 65% year-to-date and by 470% in 2020. The investment bank will begin trading bitcoin futures and forwards starting next week.
The office, which will be part of the U.S. division of Global Markets, is part of the bank's effort to keep up with the fast-growing digital asset sector. Goldman Sachs is also actively exploring blockchain technology and central bank digital currencies (CBDCs).
Goldman Sachs, which first allowed cryptocurrencies to be traded in 2018, is also considering creating a bitcoin exchange-traded fund, according to Reuters.
In recent weeks, the price of bitcoin surged reaching ATH above the $58,000 level and surpassing a market capitalization of over $1 trillion. A correction followed, with the flagship cryptocurrency dropping to below $43,000. On Monday, the price rose 10.5% back to the $48,423 level and has been rather stagnant since then.
Bitcoin has also been adopted by major institutions, from Tesla to Mastercard. Despite the criticism from the bears, many investors see bitcoin as a hedge against inflation, while others see its potential to become a major form of payment in the future.
