What is the Digital Euro

what is the digital euro
Euro paper money

We all know several central banks are investigating the use of digital currencies. One of them is the European Central Bank. Its aim is to provide a safer and more efficient alternative to cash and cryptocurrencies. In this post, I will answer what is the digital euro and how it would work.

What is the Digital Euro

A digital euro would be the euro in a digital form. It would be produced and guaranteed by the European Central Bank. Also, it would be legal tender.

Reasons to Introduce the Digital Euro

-Due to the covid19 pandemic, electronic transactions have seen a significant surge as the general public tries to avoid paper money over fears they might spread the virus.

-The Europeans do not want to fall behind other digital currency producers such as Bitcoin and Facebook’s project Libra now called Diem.

-The digital euro could be an important tool in case of a natural disaster in case the “traditional payment services” collapse.

-Fintech institutions and cryptocurrencies could undermine the eurozone banks and the euro itself. Also, citizen’s finances are vulnerable to foreign powers and marketing companies, collecting data on their spending habits.

-The digital euro will assist the euro to become a key international currency

what is the digital euro

 

Digital Euro Public Consultation

There has been a public consultation regarding the digital euro’s introduction. More than 8,000 (8,221) participants actually responded with their own feedback. The ECB has made the results available to the public.

======>press here to see the digital euro public consultation results

Furthermore, there has also been consultation between the European Commission and the European Central Bank to consider future issues that could arise with the digital euro introduction.

The European Parliament and the European Council are already aware of the public consultation findings along with the European Commission and the ECB findings. Both European governing bodies will have to vote for or against it.

It is more than certain, that the ECB policymakers will go ahead and give the digital euro the green light. That could take place in the summer. It is expected for the whole project to eventuate within four years after its approval.

Digital Euro Pros

-All citizens including the homeless or those without a bank account will have access to a free or a low-cost bank account.

-The digital euro will ensure cash will retain its utility as a public payment system accessible to everyone.

-The digital euro will provide a secure integrated mechanism managed by the ECB

-Governments will maintain their seignorage income no matter what the future of physical cash will be.

-You won’t have to rely on banks FinTech companies and other intermediaries as technology will allow all payments and money transfers to be made in real-time directly from payment to the payee.

-The digital euro will increase competition between banks whose aim would be to attract cash.

-The digital euro could transform the existing problematic monetary policy and facilitate the implementation of helicopter money. 

-The introduction of the digital euro could limit the ability of banks to generate money through credit and as a result, it reduces the possibility of a credit-fueled crisis.

-People’s finances will not be vulnerable to foreign powers and private companies collecting data on their spending habits.

-The digital euro will be another tool against crime, money laundering, and tax evasion.

what is the digital euro

 

Digital Euro Cons

-The digital euro introduction might lead to deposit runs and financial turbulence.

-Civil liberty activists worry the digital euro could be used by governments to spy on how and where their citizens spend their money.

-There could be a transfer of funds from the Eurozone banks to the ECB as people rush to open digital accounts at the ECB.

How Would the Digital Euro Work

The digital euro will be a useful addition to your wallet. You could use it as an alternative to plastic cash. You could pay your bills, do your shopping or even borrow from your friends and pay them back anytime, anywhere.

what is the digital euro

All this could be done through a wallet-like application stored in your smartphone. Digital euros will be guaranteed by the ECB and one digital euro will always worth the same as a one euro coin.

In case you lose your smartphone your digital euros won’t be lost because the ECB will be keeping a record.

The crypto-euro will run transactions at a low cost. The ECB will be recording each transaction using blockchain technology.

Digital Euro Compared to Bitcoin and Other Cryptocurrencies

-Bitcoin is subject to price manipulation along with other cryptocurrencies while the digital euro will not be manipulated in any way.

-The digital euro will be a stable digital currency while Bitcoin never was and I do not think it will ever be.

-Digital euro would be a true 100% digital currency while cryptocurrencies are not a real currency.

-Fast transactions and payments with the digital euro, this is not the case with Bitcoin and other cryptocurrencies.

-The ECB will be backing and guaranteeing digital euro contrary to Bitcoin and other cryptos where nobody guarantees or takes responsibility for anything.

-Bitcoin and other cryptos have been subject to theft and fraud. Theft and fraud would be difficult with the digital euro.

My Own Thoughts

The Money You Do not Own

Right now people only have two options. To use private banks, or to hide their money under the mattress or some safe place at home. To make things worst, most people are unaware that their money in their bank accounts exists only as a number in a computer screen, and are by law the property of the bank. The bank owes that money to people but the money does not belong to them.

Why Governments Love to Print Money

what is the digital euro

Physical money, (coins and paper money) is created by central banks and is not tied to a particular obligation from a bank to individuals. In addition, when a central bank prints money it also creates an income for the state. That income is known as seigniorage. This is another reason why governments love to print money without taking a good look at the negative impact money printing has on the economy.

Cash is the Best Payment System

Cash is the only payment system that is accessible to everyone with or without a bank account and it is in every respect free of charge. Truth is that cash offers an important public utility service.

People do not use cash as much as they used to. Reality is, that there is a surge in payments made by credit cards, mobile applications, and cryptocurrencies. Digital technology enables us to make user-friendly payments.

That surge in financial technology poses a great threat to cash. Cash is becoming an endangered species and this is something we should avoid.

A Cashless Society Will Be a Mistake

Think this, if cash disappears then a few very powerful private companies will be in total control of the money system. These companies will monitor our transactions something I do not like.

Something else I do not like is that in a world without cash people will be trapped in our current banking system without having the option to get out. We need to use technology to redesign and improve our monetary system in a way that works for the public interest.

If the monetary system is to work for the public interest then surely it has to include money. There is nothing wrong with money, in fact, money is a public asset.

Final Words

The move from central banks (ECB, China, Sweeden, and so on) to introduce their own digital currencies is absolutely necessary. It will put an order in the cryptocurrency industry where there is a high volume of theft, scams, and other illegal activities. It will force them to improve their security and all that will benefit the consumers, you and me.

Additionally, the introduction of the digital euro will shake the cryptocurrency world. Imagine a stable digital currency guaranteed by the ECB performing low-cost, secure, and fast transactions.

The digital euro will be exciting news, as it will actually benefit the economy and the consumers and it will also protect cash.

What do you think about the digital euro, would it work or not. Could it be better than Bitcoin and other cryptocurrencies or not. Feel free to leave a comment I always answer back.

 

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Why Bitcoin Price Will Continue to Rise?

why bitcoin price will continue to rise

As Bitcoin’s price breaks one record after the other, it currently trades at $46,520.10, we want to know whether the crypto’s price will continue along the same path and why the bitcoin price will continue to rise?

Tesla Endorses and Invests in Bitcoin

Happy days for bitcoin are now as the crypto’s price continues to rise. Tesla’s announcement that it will invest $1,5 billion in bitcoins. In addition to that Tesla is willing to accept bitcoin as a form of payment for its products in the near future.

Tesla believes the $1,5 billion bitcoin investment will provide “more flexibility to further diversify and maximize returns on our cash” according to the company’s announcement on Monday.

Tesla’s announcement is not only good news for the digital currency investors but it is also good news for the gold investors as well. The electric car manufacturer said its updated investment policy includes investing in gold bullion and gold exchange-traded funds (ETFs). According to Tesla’s filing, the company’s new investment policy includes investing in alternative assets such as digital assets, gold bullion, and gold exchange-traded funds and other assets.

After the Tesla announcement, Bitcoin saw a substantial rise in its value.

Tesla PayPal and Bitcoin

Tesla’s commitment to invest $1,5 billion in bitcoin and accept the crypto as a form of payment is a huge step forward similar to onboarding with PayPal in October.

why bitcoin price will continue to rise

Michael Novogratz the founder of Galaxy Digital sees bitcoin’s value skyrocketing to $100,000 by the end of the year.

When Elon Musk the richest and most powerful businessman in the world endorses bitcoin as a form of payment and at the same time puts his money on it then, more will follow.

Novogratz is certain there will be more corporations to follow Tesla. They will accept bitcoin as a form of payment for their products and at the same time, chances are they will also invest their reserve funds in bitcoin to deal with inflation and the falling dollar.

Novogratz’s Galaxy Digital Holdings is already seeing the results with its share value increasing substantially.

Final Words

Bitcoin is on a roll. The small number of bitcoins mined every year and the increased demand is a positive sign for bitcoin’s future value. Furthermore, in three years’ time, bitcoin’s mining will be halved again. The public has embraced it, especially the younger people. It has become mainstream and more and more corporations accept it as means of payment.

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So what to think? There are lots of very bullish projections for the bitcoin price in 2021. Tyler and Cameron Winklevoss, the creators of leading crypto exchange Gemini, are both adamant that bitcoin will eventually hit $500,000 while a Citigroup analyst suggests a price of $318,000 by December 2021.

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When something as big as Elon Musk endorses and invests in it then something is cooking. $1,5 billion dollars is a lot of money and the big sharks do not like to lose.

My opinion of bitcoin is that it is set to change global payments forever but we all must be careful and see it more as a currency that could help us with our everyday lives rather than an asset for investment. Bitcoin will become a stable asset when people start seeing it first as means of payment and then as an asset. Then it will become a stable digital currency with very small risks.

There is no doubt bitcoin becomes mainstream and, the companies who accept crypto as a form of payment increases every day so the people who use it for their everyday activities. The transformation has already started.

Ps.   Latest unconfirmed reports indicate Apple is considering investing in bitcoins as well.

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Bitcoin: Reasons Behind the Price Explosion and What’s Next?

Bitcoin: Reasons Behind the Price Explosion and What's Next?
Bitcoins

Bitcoin’s unprecedented price explosion has many investors dazzled. In this post, we will take a look at the reasons behind the price explosion and what’s next.

Bitcoin attained an impressive increase in 2020 in spite of numerous things that would usually make investors careful, such as the US-China tensions, Brexit, and, naturally, the covid 19 caused financial crisis. From a year-low on the everyday charts of $4,748 in the middle of March, as pandemic worries took hold, bitcoin rose to just listed below $30,000 by the end of the year.

Ever since it has reached all-time highs above $38,000, making headlines day after day and increasing the prices of other cryptocurrencies at the same time. So what has driven this enormous price hike and is it a far cry from the bubble of 2017?

One reason for the massive price hike is that there has actually been a huge increase of investors from dominant institutions such as pension plans, university endowment funds, and investment trusts. This was not the case throughout the last bull market in 2017, in which the bitcoin price rose up to nearly $20,000, just to relapse to the low $3,000 s a year later.

In 2017, the cryptocurrency community was dominated by individual small-time investors, much of whom were brought in to bitcoin’s shortage and the fact that it stood outside the worldwide financial system. The 2017 bull market had all the indications of a timeless monetary bubble and investors who were buying in “fear of missing out” (FOMO).

Bitcoin Moves Mainstream

This time, big names such as billionaire investor Paul Tudor Jones and insurance colossus MassMutual have actually invested large amounts of money, while even former skeptics like JP Morgan now say that bitcoin might have a great future. All these developments help to increase trust in the cryptocurrency and shows that bitcoin is now a mainstream asset.

Bitcoin has also been backed by some large consumer-facing payment organizations. PayPal now permits its customers to buy, hold, and offer bitcoin straight from their PayPal accounts. Rival digital payment organization Square reported in November that more of its Cash App users are buying the digital currency, and purchasing more usually than in the past. The number of vendors using bitcoin for their transactions is growing fast.
But wait, there is more. Visa is also taking a look at bitcoin. In October it revealed a small number of bitcoin-related credit and debit cards with leading crypto exchange Coinbase. As the ways to use bitcoin multiply, there is no doubt that the number of people who will want to hold it will multiply too.

There is no doubt that Bitcoin has actually become far more mature considering the days when it was utilized mainly as a technique to acquire drugs on the dark web on Silk Road. Bitcoin wallets, bitcoin keys, and exchanges are much easier to gain access to and there are much more trustworthy details out there than previously.

The introduction of commercial investment products such as bitcoin options and futures, as well as blockchain-related funds, has actually enabled investors who might otherwise have been afraid of volatility to get involved. Bitcoin futures indicate that investors can guess or speculate on falling prices by “going short” on the cryptocurrency. Nobel laureate Robert Shiller has recommended that the 2017 bubble might have been linked to the reality that there were no bitcoin futures at the time.

Bitcoin Protects Against Inflation

Besides all this mainstream enthusiasm, the havoc brought by COVID-19 caused economic crisis has actually triggered substantial stimulus packages from governments around the world and most central banks are printing large amounts of money. This will drive up inflation, which in turn reduces people’s buying power. Certainly, the United States Federal Reserve in 2015 signified it would be somewhat more tolerant of increasing rates when it relaxed its 2% inflation target.

Bitcoin: Reasons Behind the Price Explosion and What's Next?
Inflation

In the face of this risk, investing in bitcoin is considered to be a store of value. It is well known that there will be no more than 21 million bitcoins mined unless for some reason the protocol changes. Right now there are over 18,5 million bitcoins in circulation.

In addition, the supply of new bitcoins is likewise decreasing due to the fact that the reward that bitcoin miners receive for confirming transactions on the blockchain halves approximately every four years— it fell from BTC12.5 to BTC6.25 last May. This scarcity is comparable to that of rare-earth elements.

Furthermore, central banks are joining the cryptocurrency game. Russia, China, Canada, the EU, and lots of others are either currently dealing with reserve bank digital currencies (CBDCs) for their nations or releasing white papers detailing their intentions to do so. This is an apparent sign that the powers that be in the old monetary world are definitely seeing cryptocurrencies as the future. In the meantime, the Fed has revealed that retail banks can perform payments with stablecoins, which are cryptocurrencies pegged to conventional currencies.

What’s Next

For that reason, seems that the recent bitcoin price-hike may have more realism than in 2017. However, not everybody seems to share that opinion. Chief economist and strategist at Rosenberg Research and Associates, David Rosenberg, believes bitcoin remains in a bubble, and financiers do not comprehend how it works.

Bitcoin: Reasons Behind the Price Explosion and What's Next?
Market downturn

Rosenberg is well-positioned to discuss bubbles considering that he is understood for recognizing the United States real estate market bubble that caused the global monetary crisis of 2008-09. He believes investors have no idea how bitcoin works and right now the classic, follow-the-herd bubble phenomenon takes place (though he has admitted that he is no professional on the cryptocurrency market himself). Nevertheless, some large firm investors still worry that large volatility in the price could still be an issue.

So what to think? There are lots of very bullish projections for the bitcoin price in 2021. Tyler and Cameron Winklevoss, the creators of leading crypto exchange Gemini, are both adamant that bitcoin will eventually hit $500,000 while a Citigroup analyst suggests a price of $318,000 by December 2021.

Final Words

There is no doubt these crypto-experts do know what they are talking about. However, my opinion is that these numbers may be too optimistic. Nevertheless, ten months ago the possibility of bitcoin reaching US$ 30,000 seemed hardly possible. Wherever the price goes from here, the fortunes of the leading cryptocurrency are plainly going to be among the world’s most significant financial stories in the year ahead.

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Cryptocurrency Market News – Unstoppable Altcoin Rally

Cryptocurrency Market News - Unstoppable Altcoin Rally
Cryptocurrencies

The latest cryptocurrency market news is very exciting indeed. We are actually witnessing an unstoppable altcoin rally. No matter what Bitcoin is actually doing, (right now is just below the $1,2000 mark +2,42%) it seems more and more like the cryptocurrency may be in the midst, of what could become an extended “alt season”: a period in which altcoins outperform Bitcoin in terms of price.

For example, Tezos, Cardano, Stellar, LEND, ChainLink, Ethereum, Kyber Network, Compound, and so on, are some of the many cryptos that had a magnificent performance.

Reasons for the Altcoin Price Rally

  1. There is a positive sentiment around alternative cryptocurrencies. The outlook and the prospects for the future in altcoins never looked better.
  2. There is also a massive demand for decentralized finance-related tokens. The crypto market is expanding rapidly with more and more money pumped in.
  3. There is also a large number of new investors coming into the crypto market. People who weren’t interested and even treated the crypto market with skepticism, are now keen to take the plunge and invest.

Ethereum Rally Benefits Altcoins

The current Ethereum rally has and will benefit altcoins. Most analysts expect the Ethereum rally to continue well into the third quarter of 2020.

Ethereum options data suggests traders are expecting the crypto to get over the $400 mark.

The Ethereum options open interest increased by 5 fold over the past 3 months to reach $337 million. Options are a sign of what professional traders expect to take place on the market. Professional traders invest big and their impact on the market is always significant.

In addition, futures contracts also favor a bullish Ethereum. A bullish market will display the base of a future at or below 5%. Right now the ETH futures annualized basis, has been sustaining levels above the 10% for the past. That means Ethereum is at a very bullish momentum.

As a result, investor’s confidence is soaring and we are seeing the results.

Altcoin’s Rally is Backed by Data

  1. The FTX exchange’s index of 50 low capitalization cryptocurrencies, the so-called shitcoin index, is up 111% this year.
  2. According to Binance Futures, data investors are holding long contracts. As a matter of fact, over 50% of traders are holding long contracts on LINK, ADA, KNC, and COMP.
  3. As stated by CoinMarketCap, the overall cryptocurrency market now stands roughly at $295 billion. Bitcoin dominates the index at 60,5%.

Top Performing AltcoinsCryptocurrency Market News - Unstoppable Altcoin Rally

  • Aave’s LEND token has increased by over $1,200% so far this year, due to a huge increase in usage since the launch of the main net this year. I think this will be the token with the highest returns so far.
  • Another example of another token that has seen extraordinary gains is ChainLink. LINK’s price started climbing at a rather steady rate since March however, LINK’s bull run started in July. Right now LINK sells at $14,17, a 517% increase since the beginning of the year. Last thirty days performance had a monthly increase of 131%
  • Cardano, ADA, saw a 30% price increase during the last thirty days. Cardano has seen its price triple in the last three months from $0,047 to $0,14.
  • Kyber Network, KNC, had an increase in its price from $1,35 to $1,71 in just seven days and it has also tippled its price in the last three months. From $0,56 to $1,71 right now.
  • Compound, COMP, started trading at $129,51 and within seven days went to $177,50. That was a 39% increase. In the last thirty days, Compound gained over 80% from $94,51 to $177,50.
  • Tezos, XTZ, had a seven-day price increase by 26% from $2,97 to $3,63. In 90 days Tezos went from $2,57, to $3,63, a total increase in value of 43%.
  • Stellar, XLM, had a 2,3% price increase in the last week and in the last 90 days saw gains over 40%
  • Zcash, ZEC, had a magnificent seven-day run with gains over 11% and total 90-day gains of 124%. It went from $42,37 to $94,00

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Final Words

The Altcoins outlook is excellent. More people are interested in altcoins now and as a result demand for cryptos is neverending. All these combined with the positive sentiment, are a good recipe for more altcoin gains.

As we see altcoins can offer high returns but they are volatile. One day they are breaking one record after another and the next day, they could suffer unprecedented losses. If you are thinking of investing there, the best will be to invest money you can afford to lose.

Disclaimer: The author has no money invested in cryptocurrencies whatsoever.

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Edit

What is Bitcoin Halving-and What’s Next

What is Bitcoin Halving-and What's Next
Bitcoin

Bitcoin’s halving consumes investor interest in the industry. What is Bitcoin halving and what does it mean for the cryptocurrency? In this article, I will present to you the five scenarios regarding Bitcoin’s future.

What is Bitcoin Halving?

Every ten minutes, new Bitcoins are mined from the Bitcoin network. During the first four Bitcoin years, the number of these Bitcoins produced every ten minutes was 50. Every four years that number was divided by two. In 2012 the number of Bitcoins produced fell from 50 to 25. In 2016, it also fell from 25 to 12,5. Now, It will drop from 12,5 to 6,5 Bitcoins produced every ten minutes.

  • Bitcoin halving commencing date: 18/5/20
  • Bitcoins produced: 6,5 every ten minutes.

1-A Handful of Corporations could Control Bitcoin

The miners will see a sharp fall in their rewards. (50%) This will be due to halving, or could also be due to an unexpected drop in Bitcoin’s value. This could cause heavy losses to mining corporations. As a result, their owners will have no option but to cease operations.

In addition, the rewards decline could cause further harm, as the verification of each block could take hours. However, I don’t think that scenario has any chances to take place. We already had two halvings in the past and we also had up to an 80% drop in Bitcoin price. Today’s Bitcoin miners are large corporations, fully professional thus, it’s not easy to just “pull the plug”.

2-Bitcoin Price Increase

Many economists and investors consider Bitcoin to be a commodity and thus, according to economist’s Safedean Ammous algorithm Stock-to-flow, including other predictions, they all agree its price will see a substantial increase. According to the Stock-to-flow algorithm, Bitcoin will touch the $100,000 mark for at least one time.

3-Investors Buy the Rumors and Sell the News

This is a possible scenario, due to great anticipation for substantial gains after Bitcoin halving. When investors see chances for substantial gains, they always jump on the bandwagon and once they have profited enough, they are the first to sell.

It is common practice. When there is a big event they will always be there and they will leave exactly when market enthusiasm is at its highest level.

There was a similar event in Litecoin’s halving. Litecoin lost 2/3 of its value only four months after its halving. Nonetheless, at that time most cryptocurrencies suffered losses. The fact is many investors have adopted a similar strategy because Bitcoin’s halving has been heavily promoted.

4-Massive Bitcoin Sales from Miners

There is no doubt halving will cause an increase in Bitcoin production costs. If Bitcoin’s value is equal to or below mining costs, miners have no option other than selling. If not, they will have to deal with heavy losses.

IIn case Bitcoin’s value drops suddenly and sharply as it did in March 2020 then, the fall in miner’s rewards along with Bitcoin’s value will decline. That could lead to a massive Bitcoin sale. A massive Bitcoin sale means further value decline.

5-No Significant Changes

According to many analysts, Bitcoin’s halving will not have a significant effect on its value. Daily fluctuations between 1% and 5% are usual, whereas further fluctuation will definitely be seen as in effect. We might not be able to see this immediately, but after a few months, the data will be there.

Final Words

What will actually happen to Bitcoin’s price after halving remains to be seen? There will be fewer Bitcoins produced, that is certain, we do not know whether Bitcoin demand will stay the same, will drop, or rise.

Will miners continue to operate with new more efficient hardware or they will have to cease operations? Some analysts argue halving has already passed in the Bitcoin market.

My view for halving is that long term, it will have a positive effect not only on the Bitcoin market but on the cryptocurrency market as a whole. Most predictions are just predictions unfortunately, there is not enough data for us to form a definite view, especially now in the middle of the covid-19 pandemic.

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Famous Crypto Owners

Famous Crypto Owners

Famous Crypto Owners
Cryptocurrencies

As Bitcoin and altcoins in general turning into a booming industry, it comes as no surprise when many celebrities and billionaires, with disposable income, have chosen cryptocurrencies to invest. Successful businessman, famous actors, politicians, and even musicians are proud crypto owners.

Bill Gates

Famous Crypto Owners

Bill Gates is no stranger to all of us. He is an American businessman, computer programmer and philanthropist. He is the co-founder of Microsoft. He is one of the most well-known Bitcoin invested public figures in the world.

Madonna

Famous Crypto Owners

Madonna is known as “the queen of pop” and rightly so. She needs no further introduction. Madonna is one of many public figures spreading the word about how easy and secure cryptocurrency is as a payment method.

Sir Richard Branson

Famous Crypto Owners

Sir Richard Branson is a British business magnate, author, and philanthropist. He founded the Virgin group. His net worth is over $5.1 billion and he is a Bitcoin advocate and investor.

Peter Andreas Thiel

Famous Crypto Owners

Peter Thiel is a German-American entrepreneur. He is the founder of Pay Pal, Palantir Technologies and so on. His net worth is $2.3 billion and he has over $20 million invested in cryptos.

Lionel Messi

Famous Crypto Owners

Messi is a well-known Argentinian and Barcelona football player. Messi became a brand ambassador for Israeli company Sirin Labs in 2017. Sirin Labs is producing the world’s first crypto smartphone and the footballer is backing it.

Gwyneth Paltrow

Famous Crypto Owners

The American actress and singer is a well-known crypto advocate, in fact, she was the face of the Bitcoin wallet, Abra.

Michael Novogratz

Famous Crypto Owners

Michael Novogratz is an American ex-hedge fund manager of the Fortress Investment Group. Currently, his investment in Bitcoin and Ethereum is worth $250 million. He is a long-standing advocate for cryptocurrency investment.

Floyd Mayweather

Famous Crypto Owners

Floyd Mayweather jr. the boxing legend does not need an introduction. He has promoted several ICOs including Stox, Hubii Network, and Centra. Mayweather is well known for using Bitcoin, Ethereum, and other cryptos for his everyday purchases.

Tim Draper

Famous Crypto Owners

Timothy Draper is an American venture capital investor and founder of the Draper Fisher Jurvetson (DFJ) His net worth is 1 billion dollars. Draper is a Bitcoin enthusiastic advocate and investor.

Bjork

Famous Crypto Owners

Bjork is a musician and singer from Iceland. In 2017 Bjork encouraged fans to buy her new album with Bitcoin. According to reports she accepted Bitcoin, Litecoin, Dashcoin, and AudioCoin as payment.

Eric Schmidt

Famous Crypto Owners

Eric Schmidt is an American businessman and a software engineer. He is known to be the CEO of Google from 2001 to 2011. His net worth is 14,3 billion. He is another cryptocurrency investor and advocate.

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