- Bitcoin Futures CME Surges Toward $9,000
- Bitcoin will Disrupt Gold
- Pompliano Says Compound Money Need 8 Years to Challenge Bitcoin’s Achievement in 10 Quarters.
Everything about Bitcoin is apparently going up, and the cryptocurrency is defying all odds in the market to keep naysayers shut. Bitcoin, according to Pompliano went up by 800% in the last 10 quarters, and it was also reported by Todays Gazette that the cryptocurrency, closed above the 50 week moving average yesterday.
The latest news in town revolves around Bitcoin futures, a financial instrument that will soon be listed on a federally regulated futures exchange.
While the market is filled with huge positive expectations, CNBC futures reported that Bitcoin futures CME is on the upside trend of the market. CNBC stated that the Bitcoin futures is surging towards $9,000 level with 7.85% added value.
According to CNBC, the futures is on the pace of attaining its best month since creation in December 2017
“Bitcoin futures surging toward the $9,000 level and on pace for the best month since they were created in December 2017,” CNBC futures stated.
— CNBC Futures Now (@CNBCFuturesNow) May 28, 2019
Winklevoss Claims Bitcoin Will Disrupt Gold
Probably because it is also a means of storing value, Bitcoin has been compared with Gold on different occasions. A number of times, the former has been rated the best investment option even though the latter is older.
Some even went further, adding that Bitcoin, no matter its size, is such a portable and handy asset class unlike Gold.
Tyler Howard Winklevoss, an American rower in the Olympic Games, took to twitter today to drop his own view on the lasting juxtaposition between the two assets.
The renowned entrepreneur who founded Winklevoss Capital Management said he’s yet to find any reason Bitcoin won’t disrupt Gold in the market, but awaits any fact that can prove him wrong.
“If you find out why bitcoin isn’t going to disrupt gold, let me know. I still haven’t found a reason”, Tyler stated.
A twitter user, while responding to Winklevoss’s assertion added more salt to Gold’s injury. The twitter user with the name Micheal Pretince said another reason Bitcoin is better than Gold is that more daily transactions are performed on the former than the latter.
Pompliano Says Compound Money Need 8 Years to Challenge Bitcoin’s Achievement in 10 Quarters
The present bull run has given people more reasons to applaud Bitcoin and its existence in the market.
Anthony Pompliano, the Cofounder at Morgan Creek Digital proclaimed that Bitcoin has added more than 800% to its value within 10 quarters.
Anthony further added that it will take compounding money 8 years with 30% year-over-year growth to achieve the same landmark.
Bitcoin is up over 800% in the last 10 quarters.
It would take more than 8 years to deliver the same results if you were compounding money at 30% year-over-year.
Detractors hate math, but Bitcoin continues to be the best investment of the last decade 🔥
— Pomp 🌪 (@APompliano) May 27, 2019