Stephen Pair, the CEO of cryptocurrency payment processor BitPay, believes that the actual utility of Bitcoin (BTC) is not what is driving its price at the current time. Instead, Pair views investor speculation as the major driver. “A very big component of [Bitcoin’s] price is certainly speculation. It’s investors that are speculating on the future […]
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Bitcoin Price Driven More by Speculation Than Utility: BitPay CEO
BitPay CEO Stephen Pair has stated that speculation drives a substantial part of bitcoin’s current valuation, while the actual use of the crypto market leader as a currency is responsible for only a relatively small fraction of its price. Speaking on CNBC’s Squawk Box, Pair revealed that BitPay intends to change this situation significantly over
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Education Trumps Speculation as Blockchain Adoption in Africa Accelerates
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Trader: Crypto Can Reach Trillion Market Cap Based on Speculation Alone
During an interview with Ran Neuner on CNBC’s Crypto Trader, Coinbase alum and crypto investment firm 1Confirmation founder Nick Tomaino stated that the valuation of the crypto market can reach a trillion dollars off of speculation alone. He said: “I see investing and speculating as adoption. I think it is possible that crypto gets from … Continued
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Dogecoin Price Reaches New High Since Mid-February, Community Refutes Price Speculation Efforts
The overall cryptocurrency market momentum remains rather bearish for the time being. Bitcoin is still on the decline, which usually doesn’t bode well for alternative currencies on the market. The Dogecoin price is also feeling a bit of pressure, which is only normal after several small bull runs over the past two weeks.
Dogecoin Price vs Community Spirit
The past few weeks have been spectacular for the Dogecoin price. After remaining nearly flat for over two months, the value per DOGE suddenly started shooting up in the past 14 days. Several strong uptrends were noted, and there hasn’t been a major correction ever since. As of right now, there is no real correction to speak of either, despite a small Dogecoin price dip forming on the charts.
Australian Bank Bans Use of Mortgage Funds for Crypto Speculation
One of Australia’s oldest financial institutions, Bank of Queensland, has prohibited the use of home equity loans for virtual currency speculation. The move has been attributed to concerns pertaining to the growing regulatory oversight of the cryptocurrency sector in Australia.
Also Read: Tether Announces Appointment of New Chief Compliance Officer
Bank of Queensland Cracks Down on Customers Using Mortgage Funds to Trade Crypto
Bank of Queensland has banned its customers from using loans that are leveraged against home equity for the purposes of cryptocurrency speculation due to concerns pertaining to the increasing regulatory oversight of cryptocurrency activities in Australia.
Bitcoin Futures Speculation Allowed in Thailand
While the rest of Asia scrambles to regulate cryptocurrencies, some remain open and even welcoming of the blockchain boom. An unlikely nation in the region to be convivial to new technology and innovation beyond state control is Thailand, which is currently in the throes of an ever-lengthening military dictatorship and associated power struggles.
It was reported in the Bangkok Post this week that the Securities and Exchange Commission (SEC) has said Thailand’s first bitcoin futures trading service offered by a securities company is legitimate but urged investors to apply caution due to high risks.
NuShares – The Digital Asset For The Cryptocurrency Speculator
A few days ago, we have taken a first glance at NuBits, a very stable cryptocurrency from a price point perspective. The Nu team has worked hard on this project, and continues supporting this currency with everything they have. But NuBits is not their only project, as they have also created NuShares.
In some ways, NuShares are the exact opposite of NuBits. Whereas NuBits is all about price stability at the US$1.00 mark, NuShares wants to offer something to the cryptocurrency speculators, as it can appreciate in value.