Back

Peter Schiff Mocks Max Keiser's Bitcoin (BTC) Maximalism. Blockstream CEO Responds

News
Sun, 06/28/2020 - 14:39
article image
Vladislav Sopov
Prominent anti-Bitcoiner 'Gold Bug' Peter Schiff launched an ironic poll, asking his audience about RT host Max Keiser’s future of Bitcoin (BTC) investments.
Peter Schiff Mocks Max Keiser's Bitcoin (BTC) Maximalism. Blockstream CEO Responds
Cover image via www.facebook.com
Contents

Peter Schiff, CEO of Euro Pacific Capital and a vocal Bitcoin (BTC) critic, asked his audience about the price of Bitcoin (BTC) and what could make Max Keiser sell his riches.

Throwing in the Towel

Mr. Schiff presumed four options and left subscribers guessing as to whether Mr. Keiser would have enough patience to hold onto his Bitcoins (BTC) at $2,000, $1,000, $100, or until it reaches zero. His followers didn't disappoint him.

Peter Schiff launches a poll about Max Keiser
Image via Twitter

Almost three quarters of the respondents are sure that Mr. Keiser will ride the Bitcoin (BTC) price down to zero. 11.5% of his followers wouldn't be surprised if he sells Bitcoin (BTC) when the price enters the three-digit waters.

Only one out of six voters were merciful to let Max Keiser sell between $1,000 and $2,000. 

This poll excited the global cryptocurrency community. Misha Lederman, Director of Marketing and Communications at TronWallet, claimed that those who lose their PIN codes and forget to save during recovery phase would better not to discuss Bitcoin (BTC) and the cryptocurrencies segment.

Adam Back Has Something to Say

Adam Back, a legendary cypherpunk and CEO of Blockstream (development studio that designs Bitcoin (BTC) solutions), criticized the maximalism of the 'Gold Bugs'. He presumes that Mr. Schiff will one day add Bitcoin (BTC) to his allocations.

He also admits the fact that he has a small gold hedge holding in his portfolio. However, the adoption of Bitcoin (BTC) is still way behind gold, so such a comparison is inappropriate. Yet, it's interesting for Mr. Back to know whether Mr. Schiff adds Bitcoin (BTC) to his portfolio before its mass adoption.

Peter Schiff commented that the peak of Bitcoin's market capitalization is long gone and that the flagship crypto is in a downtrend.

I doubt that was even near the s-curve top. but if you think so - how much gold are you willing to bet on that? 
@BTSEcom
 has XAU denominated BTC futures now.

Adam Back offered the investor a bet. He asked about how much Gold (XAU) he would need to stake to confirm that Bitcoin (BTC) never reaches a new all-time high (ATH) in terms of market capitalization.

article image
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.)

Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?

News
Fri, 10/23/2020 - 09:24
article image
Vladislav Sopov
Grayscale, undisputed giant of institutional crypto investments, is celebrating another monstrous milestone, adding a nine-digit sum to AUM in 24 hours
Grayscale Assets Under Management Surge $300,000,000 in One Day. What Does This Mean?
Cover image via stock.adobe.com
Contents

Grayscale is an investment company that provides the clients with an exposure to digital currency markets eliminating the need to buy tokens. The firm does it by selling shares of 'trusts' related to certain digital assets. The recently started FOMO has already brought Grayscale's 'asset under management' (AUM) values to previously unseen levels.

Grayscale assets are on steroids

In its most recent report shared in a tweet, Grayscale Investments stated that its net AUM now surpasses $7,300,000,000. Mostly, this upsurge should be attributed to the spikes of Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC) prices.

Grayscale adds $300M to its AUM in 24 hours
Image by Twitter

Its founder, CEO of Digital Currency Group Barry Silbert, unveiled that Grayscale’s holdings added a whopping amount of value in the last 24 hours.

Added a cool $300 million in AUM in one day

In terms of separate ‘trusts’, the most impressive increase is associated with Litecoin (LTC). Its value added almost 10% bringing its total to over $34 mln. 

Bitcoin (BTC) allocation surged above $6 bln with a 5% increase. Notorious Grayscale Ethereum Trust (ETHE) added 6% and now is valued at $942 mln.

PayPal assists Grayscale

By contrast, Stellar Lumens (XLM) and Bitcoin Cash (BCH) trusts witnessed mediocre increases of 2-3%. The only integral product of Grayscale, Large Cap Trust that unites the most valuable coins under its umbrella, therefore, added less than 4%.

The numbers of Grayscale Investments positions rocketed due to the rapid spike of crypto prices associated with PayPal’s decision to add major digital assets to its instrument toolkit.

As covered by U.Today previously, PayPal announced that Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC) and Bitcoin Cash (BCH) will be added as payment methods by the end of this year.

  

Following this surprising news, Bitcoin (BTC) revisited its multi-months high over $13,000. At press time, its price has slightly retraced and flirts with the $12,800 level.

article image
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.)