Investor Bill Miller said last week that his MVP1 hedge fund has half of its investments in bitcoin.
Investor Bill Miller said last week that his MVP1 hedge fund has half of its investments in bitcoin.
As expected Bitcoin went on a bit of a roll up the chart leading up to the launch of CME Group’s futures contracts on Sunday. Being a much larger exchange it was predicted that this would have a bigger effect on the market than last week’s CBOE offerings. The king of crypto inched up to just over $20k just before the trading doors were opened at CME. According to Coinmarketcap.com BTC reached $20,089 at 12.19 UTC on December 17. It has since corrected back to around $19,100 where it is currently trading with a 24-hour volume of $13.1 billion. There was a little less volatility and a little smoother ride for CME, their website stayed up for a start. Pricing was another factor that was more streamlined as the contracts are based on prices from four different exchanges unlike CBOE’s which are only based on the one. CME priced their contracts just 2% off the actual Bitcoin price which made them more efficient and more attractive as investments. CBOE conversely had quite a price disparity of around 13% when their futures were launched last Sunday. According to sources and data from the CME website, more than 200 one month contracts were sold during the first hour of trading. People seemed better prepared this time around and they knew how they were going to hedge their positions. The value of the contracts also differs with CME’s being five times more since they are based on 5 Bitcoin’s compared to just one at CBOE. Coindesk claims that the contracts are still priced at a premium when looking at the actual price of BTC. They are more secure as traders do not actually own the Bitcoin so are not subject to these wild fluctuations. Volatility protection is in place with larger exchanges and CME stated they will suspend trading if the contracts rise or fall 7% or 13%, prices won’t be allowed to move more than 20%. Institutional traders will be more attracted to this type of investing, buying and selling off crypto charts is not for the faint-hearted, though ‘hodlers’ can usually handle it. More recognition for Bitcoin and its brethren will be awarded from the news that major regulated exchanges are getting into the crypto markets. With Nasdaq and Wall Street’s Cantor Fitzgerald looking to launch Bitcoin-based products in 2018 long may the crypto mania continue. The post CME Futures Rolled Out Smoothly; Bitcoin Remains Bullish appeared first on NEWSBTC.
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Rowligstone, led by founder Andrew Rowlstone, provides early access to pre-ITO/ICO opportunities for investors. They write weekly ICO research reports and provide long term investment recommendations for their clients. Andrew has over 14 years professional experience gained across multiple senior executive positions held in London, Qatar and the United Arab Emirates, held with leading international companies, whilst also being a successful investor and trader in blockchain technology since early 2017. Co-founder Justen Bontekoe, is a business strategist and also an experienced online and offline marketer. Justen is widely connected, in the blockchain space. Lead researcher Steven Rowlstone has extensive knowledge of cryptography, distributed systems and blockchain technology. Another researcher, Jeffry Herberling and Charlie Read serve as service and sales specialists focused on securing early investments, representing brands and assisting with community management. LiveEdu is a decentralized peer-to-peer project learning network for people to improve their job skills in future technologies. For the launch of the new LiveEdu network, which is slated for 2018, they will start with the following seven topics: programming, game development, data analytics, design, augmented reality, virtual reality, artificial intelligence and cryptocurrencies. In 2019, the network will be opened up for all topics. The blockchain education company is targeting the $46 billion global online education market. LinkedIn’s $1.5 billion purchase of Lynda.com offers a glimpse of this market’s potential; LiveEdu is building the next-gen Lynda using ethereum ERC20 blockchain technology. LiveEdu Token Sale EDU tokens can be purchased directly using ether (ETH), bitcoins (BTC), Litecoin (LTC), fiat (USD/EUR), or indirectly with other coins via Shapeshift. Bonus starts from 25% to 50%. Contribute in the pre-ICO before it ends on Dec. 31st and get a huge bonus! The main crowdsale is slated to begin Jan. 15th 2018. Website and Social Media Website: https://tokensale.liveedu.tv/ How to Buy EDU tokens: https://tokensale.liveedu.tv/buy-tokens/how-to-buy-edu-tokens/ Whitepaper: https://tokensale.liveedu.tv/docs/LiveEdu-white-paper-work-in-progress.pdf Telegram: https://t.me/liveeduico Twitter: https://twitter.com/liveedutv The post LiveEdu Announces Partnership with Blockchain Experts Rowlingstone for Token Sales appeared first on NEWSBTC.
We are closing in on the end of the European session on Monday and it’s time to take the second of our twice daily looks at what’s going on in the bitcoin price and where things stand from a value perspective at this point. Instead of spending too much time on that, however, we’re going to dive right in. Readers will see why shortly. So, take a quick look at the chart below to get an idea what happened over the last few hours or so. It’s a one-minute candlestick chart and it’s got our primary range overlaid in green. As the chart shows, then, the range we are using for the session today comes in as defined by support to the downside at 18490 and resistance to the upside at 16689. Now that the range has been revealed, it becomes instantly clear why we’re jumping straight into the action this evening – because the current candle could be an entry signal if things play out favorably. Our standard breakout strategy dictates that we jump in to a long entry if we get a close above resistance. If we see price do that on this chart, then, we’re going to get in towards an immediate upside target of 18775. A stop loss on the trade at 18660 will ensure that we get taken out of the position if things turn against us. Looking the other way, we’re going to look at getting in short on a close below support. We need a stop loss on this one as well (to help us avoid getting caught out on the wrong side of a reversal) and somewhere in the region of 18520 looks like it should do the job. Let’s see how things play out this evening and we’ll update accordingly as things kick off tomorrow. Charts courtesy of Trading View The post Bitcoin Price Watch; Here's What's On Tonight appeared first on NEWSBTC.
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The post Bitcoin Creator Satoshi Nakamoto is Among the 50 Richest People appeared first on CCN Satoshi Nakamoto, a person or a group who founded bitcoin in 2009 by mining the genesis block, has become one of the 50 richest people in the world with a net worth of $19.4 billion. For many years, bitcoins mined by Satoshi Nakamoto have remained unspent, all 980,000 of it. If the price of bitcoin The post Bitcoin Creator Satoshi Nakamoto is Among the 50 Richest People appeared first on CCN
Bill Miller, a highly respected US-based fund manager and former chairman, chief investment officer at $4 billion investment firm Legg Mason, has revealed that he has invested about 50 percent of his MVP 1 fund in bitcoin. Miller Invested $1.1 Billion in Bitcoin On the WealthTrack podcast with Consuelo Mack, hedge fund legend Miller, who oversaw Legg Mason’s portfolio of $728 billion in assets as the principal portfolio manager, stated that his personal hedge fund called MVP 1 has allocated 50 percent of its holdings in bitcoin. Currently, Miller’s MVP 1 manages over $2.2 billion in assets, mostly for high profile investors and mutual funds. Given that 50 percent of MVP 1’s holdings are invested in bitcoin, Miller’s fund has invested more than $1.1 billion over the past few months. On the podcast, Miller emphasized that his hedge fund will not sell its bitcoin holdings in the future. Miller also hinted that MVP 1 will not be diversifying its assets in bitcoin to other cryptocurrencies in the market. He said: “What we’re studying is ways in which we can mitigate risk to the overall fund and the portfolio. It won’t be 50 percent of the fund for that much longer, which does not mean necessarily that we’re going to be selling it.” Miller added that other cryptocurrencies in the market without actual use cases will soon be worthless. “Most of those cryptocurrencies, if monetary history is any guide, will be worthless.” Miller noted that his son, a Miller Values Partners portfolio manager, pitched him a potential investment opportunity in an upcoming initial coin offering (ICO) that could gain mid to long-term success with a strong market. Several successful billionaire bitcoin investors including Tim Draper have invested in ICOs throughout 2017, some of which demonstrated significant success. Miller Bought Bitcoin in 2014 at $350 Miller first reportedly purchased and invested in bitcoin in 2014, when the price of bitcoin was $350. At the time, Miller invested 1 percent of his net worth in bitcoin. Although Miller’s net worth has not been publicly disclosed, several analysts have estimated Miller’s net worth to be closer to the $1 billion range. Under the assumption that Miller has had hundreds of millions of dollars in personal net worth in 2014, Miller could have invested more than a million dollars when the price of bitcoin was $350. A $1 million investment in bitcoin in 2014 would be worth $51.4 million today. In the upcoming years, as Coinbase CEO Brian Armstrong emphasized, an increasing number of hedge funds and large-scale investment firms will continue to allocate their assets and capital into bitcoin. If tens of billions of dollars in institutional money flow into the bitcoin market in the short-term, analysts expect the price of bitcoin to reach $50,000 by the end of 2018. “Over 100 hedge funds have been created in the past year exclusively to trade digital currency. An even greater number of traditional institutional investors are starting to look at trading digital assets (including family offices, sovereign wealth funds, traditional hedge funds, and more). By some estimates there is $10B of institutional money waiting on the sidelines to invest in digital currency today,’ wrote Armstrong. The post Former Legg Mason Chairman Bill Miller Invested $1.1 Billion Bitcoin appeared first on NEWSBTC.
Today saw the total capitalization of the cryptocurrency rise above $600 billion for the first time.