Bitcoin (BTC) Transfers Wealth to This Category of People, Asset Manager Says

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Tue, 06/16/2020 - 10:49
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Vladislav Sopov
The role of Bitcoin in the transfer of wealth between large groups of people is a sensitive topic for the crypto community. Here's another perspective on it
Bitcoin (BTC) Transfers Wealth to This Category of People, Asset Manager Says
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Travis Kling is a founder and CIO of Ikigay Asset Management, a multi-strategy crypto assets fund. He has revealed which quality is necessary for those who would like to benefit from Bitcoin (BTC).

Patience is a virtue

According to Mr. Kling, he is frequently asked by his audience why the price of the flagship cryptocurrency asset isn't much higher right now. He believes that the reasons for this lag are far from the world of digital currency.

Travis Kling recommends to be patient while hodling Bitcoin (BTC)
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All Bitcoin (BTC) owners should just be patient and avoid hurrying their relationship with the king coin. 

Mr. Kling pointed out only one dominant direction for Bitcoin (BTC)-related transfer of wealth. The crypto king prefers to change weak hands for 'patient' ones, as does the value stored in it.

As a result, the well-known strategy of 'stacking sats' may be the smart bet, in particular - for newbies in crypto.

Central banks will do the leg work

National central banks and their policies will be one more prominent catalyst for Bitcoin (BTC) growth. Mr. Kling highlights that they will do 'all the leg work' for Bitcoiners.

It looks like he is hinting at the policy of 'quantitative easing', which may lead to the hyperinflation of the fiat U.S. Dollar. As it plays a crucial role in the world monetary system, this deflation may turn peoples' attention towards cryptocurrencies.

This, in turn, will increase the demand and make the price surge significantly.

As covered by U.Today Crypto News, patience is common among Bitcoin (BTC) hodlers. More than 60% of Bitcoin (BTC) hasn't moved in over one year.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250

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Fri, 01/15/2021 - 18:02
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Vladislav Sopov
Ethereum 2.0 enthusiasts deposited whopping sum in its contract launched six weeks ago
2,500,000 Ethers Locked in Ethereum 2.0 Deposit Contract as ETH Rejected From $1,250
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While crypto markets are trying to get out of the most painful correction in this bullish cycle, the Ethereum 2.0 deposit contract accomplishes another crucial milestone.

ETH2 deposit contract surpasses $3,000,000,000 level

According to leading Ethereum network observer Etherscan, the Ethereum 2.0 deposit contract (0x00000000219ab540356cBB839Cbe05303d7705Fa) allocated more than 2.5 million Ethers. New 32-ETH stakes are transferred to it every minute.

ETH2 deposit contract breaks above $3B
Image by Etherscan

As the correction of the Ethereum (ETH) price ended, ETH is changing hands at $1,225: the $1,250 level was too difficult for bulls to conquer. Meanwhile, even at press time, it is worth almost $40,000 to join the club of Ethereum 2.0 stakers.

Therefore, the USD-denominated value of assets locked in the contract surpassed $3 billion for the first time ever and keeps surging.

It should be noted that Ethereum 2.0’s deposit contract went live on Dec. 1, 2020, heralding the start of ETH2 Pase Zero or Beacon Chain, the inaugural stage of Ethereum 2.0.

Ethereum 2.0 “entry tickets” become really expensive

At press time, more than 52,267 addresses transferred money to the deposit contract.

Ironically, Black Thursday in Crypto (March 13, 2020) was the most convenient time to join Ethereum 2.0 staking with Ether at $95. Today, Ethereum (ETH) enthusiasts should pay 13 times more to have a minimum amount of Ethers required for staking.

Ethereum 2.0 is a proof of stake (PoS) iteration of the Ethereum (ETH) protocol. It replaces mining by staking and splits the whole Ethereum (ETH) network into several interconnected sub-chains (shards).

According to Staking Rewards analytical dashboard, annualized rewards for ETH staking are estimated between 10.4 and 10.6 percent.

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About the author

Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockchain.

Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)