VanEck on Bitcoin volatility to Rick Rieder views on replacing gold, Read Today's Top 5 Crypto News
1) VanEck's research shows Bitcoin is less volatile than major stocks.
VanEck, an investment management firm's research shows that Bitcoin is less volatile as compared to large companies' stocks. On a year-to-date basis, 29% of S&P 500 stocks had more volatile price fluctuations than the cryptocurrency.
2) Pantera Capital announced a raise of $134 million.
Pantera Capital, an investment firm and hedge fund has filed for a $134 million raise which is the largest fundraising effort from the time it has been formed. Till now it has not been cleared whether this new raise will result in a new fund or simply expand the scope of Venture Fund III, a third investment fund formed by the firm.
3) New director appointed by Riot Blockchain, a Bitcoin mining giant.
Riot Blockchain has appointed Hubert Marleau, former director of the listing committee for the Toronto Stock Exchange as the new director. Marleau has served as governor of the Montreal and Vancouver stock exchanges and he is currently the chair for a lecture series in his name at the University of Ottawa.
4) Binance re-introduced BTCB - wrapped Bitcoin to the world.
Binance posted a blog in which they reintroduced BTCB. In the blog, they defined BTCB as
BTCB is a BEP2/BEP20 asset wrapped (pegged) on Binance Chain/Binance Smart Chain with a 1:1 peg to BTC locked on the Bitcoin blockchain.
In the blog, they mentioned that they are expecting a similar adaption as WBTC — a wrapped Bitcoin token on Ethereum which is ranked as 14th cryptocurrency in terms of market cap.
5) Rick Rieder, CIO of BlackRock believes Bitcoin is there to replace gold.
Rick Rieder, Chief Investment Officer of BlackRock which is the world’s largest asset management corporation said at CNBC’s Squawk Box when asked about Bitcoin
I think that digital currencies, and their receptivity, particularly millennials’ receptivity of technology and cryptocurrencies, is real. Digital payment systems are real.
He also believes Bitcoin’s durable technology could make it take gold’s place in the digitizing world.