OPINION
The crypto industry is still nascent and poised for hyper-adoption, says Wells Fargo
Wells Fargo has advised investors that it is not too late to put their money into crypto The bank is likening crypto’s adoption rate to the internet in the mid-to-late 90s The bank, however, disapproves investment via crypto exchanges, mutual funds, and ETFs at the moment American financial services company Wells Fargo earlier this week said on a note to investors that it’s early but not too early to get into cryptocurrencies. Over the past dozen months, crypto assets have seen it all – from the highest peaks to extreme volatility. Several coins bloomed during the crypto summer, and the sector’s market cap grew from just under $1 trillion to $3 trillion. This rapid industry growth has primarily been attributed to the increasing number of users joining the sector. Still, F...
They are Everywhere – by Chika Okoli
Facebook WhatsApp Reddit Twitter Shares The recent report of Governor Sanwo-olu’s engagement with two out-of-school children generates varying reactions on the developmental thrust of Lagos state and Nigeria at large. First, is the reaction of commendation, and next is that of condemnation. Yes, the Governor’s act deserves some commendation. It is not commonplace to have a Governor halt his convoy to interact with underage girls who have been deprived of their right to basic education. More commendable is his commitment to helping the girls achieve their dreams through formal education. On the flip side, one is moved to ask if that was the first time the Governor saw or paid attention to the over 2 million street-roaming out-of-school children in the state. Would the Governor hav...
Proposing to lady by Kneeling Down is against African Culture and God
Facebook WhatsApp Reddit Twitter Shares One of the trending action by many of our African men which has spend sometimes now is kneeling down to propose to a lady. During ancient days, every man is seen as King over his woman. In some African Culture, Women call their husband my King. King is the head of the community, everyone includes men respect their king. It is an abomination for king to kneel before his servants or wife. This tradition were well respected before white men civilization enter Africa. .u14d2d570c68c454ab04ea901f582af62 { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:inherit; border:0!important; border-left:4px solid #16A085!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17...
deVere Group CEO Nigel Green notes increasing institutional money in crypto, questions the IMF
The deVere Group CEO said institutional investors are increasing the share of resources they put into crypto. Green also explained that crypto’s use as legal tender in low-income countries would reduce the reliance on ‘first-world’ currencies such as the Dollar. The CEO of financial services and asset management firm deVere Group Limited GmbH Nigel Green has acknowledged Bitcoin as the world’s largest digital asset and earmarked it to play a significant role in the future financial system. Institutions don’t want to be left behind He added that even institutional investors are recognising the status of Bitcoin and other digital assets hence increasingly shifting their portfolios into this nascent space. These entities know that Bitcoin’s attributes are w...
Bitcoin is still an early adoption technology with a future of volatility, Anthony Scaramucci says
Scaramucci asked Bitcoin investors not to lose focus of the bigger picture He also compared Bitcoin’s volatility during growth to Amazon’s stock in the late 90s SkyBridge Capital founder Anthony Scaramucci has asked investors to hold onto their crypto assets as he believes the current market dip will come to an end soon. “Take a chill pill, stay long bitcoin, other cryptocurrencies like Algorand and Ethereum, and I think you’re going to be very well-served long-term in those investments,” he said. Bitcoin is not yet a mature store of value Speaking during a CNBC interview, he explained that the Dollar will always be the Dollar hence Bitcoin’s change relative to it should not elicit much concern from investors. He asked them to focus ahead and make long-term investments, noting that Bitcoin...
Here is why ARK Invest believes Bitcoin will trade at $1 million by 2030
Cathie Wood’s investment management firm ARK Invest has laid bold predictions for Bitcoin and Ethereum in a recently published outlook report Disruptive innovation-oriented investment firm ARK Invest has predicted that Bitcoin’s market capital will reach $28.5 trillion by 2030. The firm’s analyst Yassine Elmandjra noted in its annual research report that the price of a bitcoin will surge to $1.36 million by then. He justified the prediction by pointing out that the crypto asset’s usage is only in its nascent stage. “Bitcoin’s market capitalisation still represents a fraction of global assets and is likely to scale as nation-states adopt as legal tender. According to our estimates, the price of one bitcoin could exceed $1 million by 2030,” Elmandjra...
The Mistake Voters Make, voting for Aspirant because his wealthy
Facebook WhatsApp Reddit Twitter Shares Election is getting closers, is time for we to advise people so we will not fall ourselves into mess that Buhari has put Nigerians into. Most of the Electorate, even me not an exception always made grevious mistake by voting for Aspirant that is wealthy hoping that they will use there Money to work for us. No, is not like that, be it poor or wealthy man, no any politicians use his money to work for his people. .u4d36f500e2df48b6cbbeb4a757b3138a { padding:0px; margin: 0; padding-top:1em!important; padding-bottom:1em!important; width:100%; display: block; font-weight:bold; background-color:inherit; border:0!important; border-left:4px solid #16A085!important; box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -moz-box-shadow: 0 1px 2px rgba(0, 0, 0, 0.17); -o-b...
Binance CEO doesn’t think crypto ad restrictions will affect user adoption – Here are his thoughts
Changpeng Zhao explained that word of mouth plays a more prominent role than advertisement in ramping up user adoption Binance CEO Changpeng Zhao said in a recent interview shared by CNBC that he does not expect the increasing ad restrictions by regulators to impact the growth of crypto. Zhao explained that it is only recently that crypto ads were embraced, given that word of mouth has been the dominant force behind crypto adoption. As such, he expects the demand for crypto to grow further, and the surging regulatory measures against the ads are evidence of this. “Clampdown on crypto advertising is unlikely to have much of an effect on demand, as most of the crypto users come from word-of-mouth promotions anyway,” he elucidated. Ads haven’t had a significant influen...
Vitalik Buterin runs polls to determine the preferred crypto outside ETH
The Ethereum community has marked out Cardano’s ADA and Bitcoin as the two best Ethereum alternatives in storing value and enabling transactions In currently running polls, Vitalik Buterin queried his 3.1 million-large Twitter following, which among a listed number of tokens would be the best alternative in a hypothetical future without Ethereum. “Poll for Ethereum community. You wake up in 2035, and 80% of all transactions + savings in the world are in one currency that is not ETH. Which would you prefer it to be?” the tweet read. The first poll, which has Bitcoin (BTC), Cardano (ADA), Solana (SOL) and the US dollar has so far received almost $560,000 responses. Cardano (ADA) is leading, but the margin is tight At the time of writing, Cardano’s native token ADA had...
IMF notes that crypto evolution is heightening financial stability worries
The monetary authority is proposing a global regulatory framework to alleviate the financial stability risks posed by crypto and its assurgent adoption In a blog post published on Tuesday, the International Monetary Fund (IMF) penned that as crypto markets are growing, there is an equivalent increase in the correlation between cryptocurrencies and the financial markets. The coronavirus pandemic redefined correlations in the investment landscape Pre COVID-19, the IMF explained, there was little relation between crypto assets like Bitcoin and the stocks. As such, they were considered good options as a hedge against inflation for investors. However, with time the pandemic pushed financial systems to the extremes, causing the central bank to enact policies to ease the strain. Afterward, both c...
Ethereum developers disagree with JP Morgan’s prediction of loss of dominance
The analyst team had predicted that Ethereum’s market share would continue shrinking Last Wednesday, JPMorgan Chase & Co. research analysts in a team led by Nikolaos Panigirtzoglou said Ethereum’s dominance is at risk of getting chopped off by competing blockchain ecosystems. JP Morgan’s projection According to Bloomberg, analysts from the American investment bank said in a note that Ethereum’s market share could remain on the path of decline until the final phase, sharding, arrives. Labelled the most critical stage for scaling, it is not expected to arrive until 2023. Evidently, Ethereum has seen a decline in dominance in the decentralised finance niche. At the start of 2021, it locked almost 100% of the total DeFi value, a figure which declined to about 7...
Nexo’s Antoni Trenchev predicts a $100k Bitcoin price point by mid this year
Anthony Trenchev sees Bitcoin as an inflation hedge equivalent to gold Antoni Trenchev, the co-founder of crypto lending platform Nexo, has given his predictions on the world’s most dominant digital asset. In an interview published yesterday, Trenchev told CNBC that he sees the world’s largest crypto coin doubling in value by the end of June this year. “I’m quite bullish on bitcoin. I think it’s going to reach $100K this year, probably by the middle of it,” he said. Institutional adoption and Macroeconomic realities are the key drivers The Bulgarian crypto businessman bases his prediction to two major reasons. First, he explained that many major businesses are shifting part of their portfolios into Bitcoin investment and that this would be the major reason that would bo...
