The venture capitalist and investor Tim Draper remains bullish about the future of the virtual currency space. During a conversation with CoinTelegraph, he mentioned that Bitcoin will be reaching $250,000 in 2022 or 2023. This is the prediction that he made several times in the past and that still maintains amid a bear market like the one that we are currently experiencing.
Bitcoin lost around 80% of its value since the beginning of the current year, and several analysts are predicting for lower prices in the near future. However, in the future Bitcoin could experience a new price increase, something that most of the analysts believe that will happen once we reach a bottom.
Tim Draper has always been investing in Bitcoin. A few years ago, he bought around 40,000 BTC and he said that he did not sell them yet. During his conversation with CoinTelegraph, he mentioned that the current sell-off in the market was just simply a normal ‘fluctuation’ in the virtual currency market. Additionally, he said that financial institutions are happy about these price decreases in virtual currencies because they are able to control the fiat market.
Furthermore, Draper marked that Bitcoin is a disruptor, and these assets tend to be volatile as soon as they are launched to the market. Although innovations are very positive for the health of humanity, they operate with high volatility.
Additionally, the current dip could also be a good moment for individuals and investors to start becoming users of virtual currencies. He has also said that he takes crisis as an opportunity.
On The Matter, He Mentioned:
“I always look at a crisis as an opportunity. And that’s the way I’m looking at this one. All times are good times to enter the crypto market. If you are forward-thinking, you’re going to look and say ‘this is just better currency,’ so it’s just a matter of time before the world adopts it. [This will happen] when everything I can do with fiat, I can do with Bitcoin.”
As Bitcoin price increases, the dollar will have less importance in the market. Bitcoin will be capturing part of the fiat currency world. In addition to it, he said that Bitcoin and virtual currencies have been created as a software and they do not require a central authority motivated by political issues to print more money.
At the time of writing this article, Bitcoin is the largest virtual currency with a market capitalization of $67.34 billion and each coin can be purchased for $3,868 according to CoinMarketCap.
On.Live Is Pleased to Announce That ONL Token Holders Can Now Use Bitgo’s Industry-Leading Wallet and Custodial Offerings
BitGo is the market leader in digital asset financial services providing security, compliance, custodial, liquidity solutions for institutional investors. BitGo is the world’s largest processor of on-chain bitcoin transactions, processing 15% of global Bitcoin transactions and $15 billion per month across all cryptocurrencies.
In 2018, BitGo introduced BitGo Custody and launched BitGo Trust Company, the first qualified custodian purpose-built for storing digital assets. BitGo Business Wallets and BitGo Custody are used by hundreds of clients around the world including the largest cryptocurrency exchanges.
Since its inception in 2013, BitGo has been focused on the institutional market and that makes working together a natural fit, as we want to extend the accessibility of ONL tokens for institutional and enterprise clients.
On.Live is a distributed live video broadcast network project, build to fill the niche in payed live and on demand services delivery in the Internet. The platform offers one of the kind, innovative, no subscription business model, beneficial for all parties involved in On.Live marketplace.
With live streaming on the rise, and lack of other comparably flexible solutions on the market, On.Live is natural choice for access and delivery of live streamed services for individuals, small and big businesses. On.Live is aiming at becoming market leader and platform of choice for everyone who realizes the huge potential in live streaming, and what profits it may bring in his own economic activities.
We believe that BitGo’s support will elevate On.Live’s business potential, contribute to growth of the platform itself and positively affect the security of ONL.
10,000 Retail Shops in France Will Sell Bitcoin, XRP, Ethereum, Litecoin and Dash, Powered by Payments Giant Ingenico: Report
Bitcoin, XRP, Ethereum, Litecoin and Dash are reportedly expanding to 10,000 points of sale throughout France.
Digycode first rolled out its crypto coupons last year. The startup says it’s now expanding to over 10,000 shops through a collaboration with Paris-based payments giant Ingenico, according to local news outlet Cryptonaute. The leading payments firm reported $2.8 billion in revenue in 2017.
“‘The deployment of Digycode is the result of a partnership between Digital Service and Ingenico, and tobacconists equipped with a Devlyx cash registerare, therefore eligible to sell our product for their customers, commented Christopher Villegas, CEO of Digital Service.”
The crypto startup will offer prepaid recharge coupons that can be purchased in three available increments – 20, 50, or 200 euro – by visiting any of the supported locations. Once a customer redeems the coupon on Digycode’s website by using a secret code, the euro is converted into crypto.The company says crypto balances will appear in the user’s crypto wallet as soon as the transaction is confirmed.
Tobacco shops are selling crypto despite regulatory uncertainty.
France’s tobacco federation was granted permission to sell crypto from the French Prudential Supervision and Resolution Authority, according to a report from the French radio network Europe 1.
But France’s central bank is singing a different tune, saying it has not approved retail sales of cryptocurrency. In addition, the Financial Markets Authority, which regulates the country’s stock market, has issued a statement saying no company is licensed to sell crypto in stores.
Crypto-Friendly Wyoming Becomes First US State to Give Bitcoin, XRP, Ethereum, Litecoin, EOS and Altcoin Owners Complete Property Rights
The Wyomng Senate passed SF125 on Thursday. The “Digital Assets” bill will now become law, granting cryptocurrency holders property rights for direct ownership of digital assets. Wyoming is the first state in the US to pass a clear regulatory framework for Bitcoin, XRP, Ethereum, Litecoin, EOS and other altcoins, setting the stage for cryptocurrency investors, entrepreneurs and crypto-related businesses to flourish in the state.
The bill allows people to hold cryptocurrency without the need for an intermediary to own digital assets, and clears the way for banks to offer custodial services for cryptocurrencies.
According to the act, digital assets are considered intangible personal property.
“AN ACT relating to property; classifying digital assets within existing laws; specifying that digital assets are property within the Uniform Commercial Code; authorizing security interests in digital assets; establishing an opt-in framework for banks to provide custodial services for digital asset property as directed custodians; specifying standards and procedures for custodial services under this act; clarifying the jurisdiction of Wyoming courts relating to digital assets; specifying applicability; authorizing the promulgation of rules; and providing for an effective date.”
The bill is expected to come into effect on July 1. It also supports the advancement of tokenized securities.
Caitlin Long, co-founder of the Wyoming Blockchain Coalition, expects the new legislation to attract blockchain companies and talent, making Wyoming a frontrunner in the space with a clear regulatory framework designed to foster innovation and spur adoption of Bitcoin, altcoins, blockchain-based businesses, trading platforms and crypto custodial services.