Miami mayor: Bitcoin is a ’stable investment‘ during an unstable year

It appears that Francis Suarez, mayor of Miami, is studying Bitcoin following the guidance of Anthony Pompliano and the Winklevoss twins

Francis Suarez, mayor of Miami, is the latest prominent figure to show interest in Bitcoin (BTC), offering further evidence of growing mainstream adoption.

In a tweet posted Thursday, Suarez described Bitcoin Profit as a stable investment during an „incredibly unstable year,“ adding that he is studying the leading digital asset with the help of well-known names like Tyler Winklevoss and Anthony Pompliano:

„A great explanation of how @Bitcoin has been a stable investment during an incredibly unstable year… I’m reading Bitcoin Billionaires @tyler. @APompliano any other reading to recommend?“

Winklevoss and Pompliano responded to Suarez’s tweet. Tyler said he, along with his brother Cameron, will bring the mayor of Miami a „signed copy of Bitcoin Billionaires,“ a book about the twins, while Pompliano called Miami a future Bitcoin city:

„Miami is well on its way to becoming a Bitcoin city.“

A few hours earlier, Suarez indicated that his administration is exploring the idea of making Miami the first crypto-focused government in the United States. „We are absolutely exploring the idea,“ he explained in response to a tweet. The mayor did not provide any other details.

Suarez was elected mayor of Miami in November 2017, after campaigning as a nonpartisan candidate. Before entering politics, he worked as a lawyer and founded a real estate company.

Some news outlets have described Miami as one of the best U.S. cities for cryptocurrency, thanks to permissive state oversight and an influx of foreign capital. Earlier this year, the North American Bitcoin Conference, attended by figures such as Charles Hoskinson, Roger Ver and Riccardo Sagni, was held in Miami.

The explosive rise tracked by Bitcoin this year, due in part to corporate and institutional adoption, is bringing out new conversations about digital assets. Bitcoin adoption is increasingly seen as a competitive advantage in an economy characterized by financial instability, asset price inflation, and record-breaking interventions by central banks.

Novogratz espera que el administrador de Biden revierta la postura anti-corrupción de Trump

El director general de Galaxy Digital llama a las políticas criptográficas de Trump „anti-dólar“ y „anti-innovación“.

De criptografía de mente abierta de la administración entrante de Biden

Los Estados Unidos necesitan desesperadamente regulaciones de criptografía de mente abierta de la administración entrante de Biden, según el CEO de Galaxy Digital Mike Novogratz.

Apareciendo en un segmento del jueves de la CNBC’s Sqwuak Box, Novogratz dijo que el mercado alcista de Bitcoin (BTC) ha demostrado ser resistente a la reciente ola de retórica anti-criptora que viene del Capitolio:

„Te dice lo poderoso que es este mercado alcista […] Están echando a suertes al sistema, y no lo está impactando realmente“.

Sin embargo, para que la industria de la criptografía tenga éxito a largo plazo, se necesita más claridad regulatoria. Refiriéndose a la administración entrante de Biden, Novogratz dijo:

„Espero, ya sabes, que consigamos un cambio de guardia en 20 días, espero que podamos conseguir más reguladores de mente abierta.“

La salida del Presidente Trump de la Casa Blanca está demostrando ser un periodo rocoso para la industria de la criptografía. La semana pasada, la Red de Ejecución de Crímenes Financieros del Tesoro propuso nuevas reglas de divulgación para las carteras auto-alojadas.

En otro golpe a algunos participantes de la industria

En una señal de que el Tesoro estaba tratando de interferir en la legislación, proporcionó sólo un período de comentarios de 15 días, que es mucho más corto que el período típico de 60 días.

En otro golpe a algunos participantes de la industria, la Comisión de Valores y Bolsa, o SEC, está demandando a Ripple por la supuesta venta de un valor no registrado en forma de fichas XRP. El regulador de valores presentó su caso en una minuciosa y detallada toma de posesión de Ripple de 71 páginas publicada a principios de esta semana.

Novogratz y otros creen que las arcaicas leyes de la criptocracia obstaculizarán la innovación y la adopción en los Estados Unidos, allanando el camino para que rivales como China dominen el mercado. Irónicamente, este es uno de los argumentos que está usando Ripple para contrarrestar la demanda de la SEC.

En su entrevista con la CNBC, Novogratz dijo que las obstinadas leyes de criptografía tienen „un montón de consecuencias no deseadas“, añadiendo que „va a empujar muchas de las cosas geniales que están sucediendo en la criptografía en el extranjero“.

Bitfinex now offers Bitcoin (BTC) and Ether (ETH) loans

The Bitfinex exchange now allows its users to take out personal loans in cryptocurrency through a new dedicated service, Bitfinex Borrow. Verified users can get loans in Bitcoin Legacy, Ether (ETH), and many other cryptocurrencies.

Cryptocurrency loans land on Bitfinex

The Bitfinex platform now offers the possibility for its users to take out loans in cryptocurrency. This service is offered through Bitfinex Borrow , a P2P platform that allows users to borrow funds from others using their cryptocurrencies or fiat currencies as collateral.

Access to Bitfinex Borrow is restricted to users whose identity has been verified . The higher the verification level, the greater the borrowing options.

There are many available cryptocurrencies, here is the list:

For the main cryptocurrency, namely BTC, borrowers can deposit US dollars, euros, Japanese yen and even Tether (USDT) as collateral. For an ETH loan, only the US dollar is currently accepted as collateral.

Regarding loan-to-value ratios, borrowers will be able to obtain loans in BTC corresponding to a maximum of 80% of the value of their holdings in dollars , euros or USDT. For the yen, the loan-to-value ratio will not exceed 70%. As for Ethers loans, the percentage may reach up to 80% of the funds deposited as collateral .

The annual percentage rate of charge (APR) for loans is particularly attractive and more advantageous than on other platforms. Bitfinex charges an annual interest rate of around 3.75% for BTC loans and around 1.22% for ETH loans .

The most advantageous rates are charged on DOT and EOS loans, these being only 0.1% and 0.01% at the time of writing, respectively.

How does the Bitfinex Borrow interface look?

For its new service, Bitfinex has made things as easy as possible. For example, let’s simulate borrowing 0.25 BTC on the platform .

On the screenshot below, Bitfinex tells me that I must first deposit 5,488 euros to borrow 0.25 BTC . A loan can be taken out over a period of 2 to 120 days .

For a loan with a period of 50 days, the daily interest rate here is 0.010270% . So I would have to repay the equivalent of 0.25128 BTC to the futures platform.

With Bitfinex Borrow, you can choose between a variable rate or a fixed rate loan. The interest charged for a variable rate loan changes throughout the life of the loan. This fluctuates according to supply and demand. The interest charged for a fixed rate loan is fixed for the entire term of the loan, and is not subject to any variation.

If you are interested in Bitfinex lending service, carefully read its terms of service first. Also note that this does not fit in the box of decentralized finance (DeFi), Bitfinex being a fully centralized platform.

Crown Sydney soll nur noch VIP Casino bleiben

Der Premierminister von New South Wales, Gladys Berejiklian, hat bestätigt, dass das Sydney Casino Resort von Crown Resorts in seinen Räumlichkeiten keine Spielautomaten mehr haben wird , sobald es Anfang der 2020er Jahre seine Türen öffnet.

Es war im Jahr 2014, als der große Casino-Entwickler und -Betreiber eine Lizenz für den Bau und Betrieb eines integrierten Resorts mit einer Casino-Einrichtung in Sydneys Barangaroo-Bezirk erhielt. Seit der Ankündigung wurde das Projekt stark gefördert , um chinesische High-Roller-Spieler anzulocken .

Mit anderen Worten, es werden nur Tischspiele angeboten, die als Lieblingsbeschäftigung von VIP-Casino-Kunden aus Festlandchina bekannt sind

Ein vom chinesischen Präsidenten Xi Jinping initiiertes Vorgehen gegen Glücksspiele hat sich jedoch bereits negativ auf die Geschäftstätigkeit von Crown Resorts ausgewirkt und wird voraussichtlich weitere negative Auswirkungen auf das VIP-Glücksspielgeschäft des Unternehmens haben. Im vergangenen Herbst wurden 18 Mitarbeiter von Crown Resorts , darunter Jason O’Connor, Leiter der VIP-Programme des Betreibers in Übersee, wegen illegaler Werbung für Casino-Dienste in China festgenommen.

Casino-Glücksspiele sind in China strengstens verboten, ebenso wie Werbung und Verkaufsförderung

Es ist jedoch eine gängige Praxis für Vertreter großer Casino-Betreiber geworden, Teams in das Land zu entsenden, um scheinbar für ihre Nicht-Glücksspiel-Dienste zu werben und so potenzielle Casino-Kunden anzulocken.

Die Aktien von Crown Resorts fielen nach den Verhaftungen im letzten Jahr und es wird angenommen, dass weitere negative Auswirkungen auf das Unternehmen haben könnten, wenn die verhafteten Mitarbeiter verurteilt werden. Der frühere Vorsitzende der NSW Independent Liquor and Gaming Authority, Chris Sidoti, hat kürzlich den lokalen Medien mitgeteilt, dass der Betreiber seine australischen Lizenzen überprüfen lassen könnte , wenn seine inhaftierten Mitarbeiter für schuldig befunden werden.

Obwohl Crown Resorts wahrscheinlich Schwierigkeiten haben würde, die zuvor erhoffte massive chinesische VIP-Kundschaft anzulocken, durfte der Betreiber auf seinem Grundstück in Sydney keine Spielautomaten (oder Pokies, wie die Geräte Down Under heißen) hinzufügen . Wie von Premier Berejiklian angegeben, würde das Casino keinesfalls zu einem regulären Casino werden.

Der oberste Beamte von New South Wales antwortete auch auf die Kommentare von Herrn Sidoti in Bezug auf die Lizenzen der Crown Resorts im ganzen Land. Sie wies darauf hin, dass der Betreiber nach einem gründlichen Lizenzierungsverfahren seine Lizenz für Sydney erhalten habe und dass der Staat seine Entscheidung wahrscheinlich nicht revidieren werde.

Bitcoin hype continues: British investment firm invests USD 15 million in BTC

Bitcoin (BTC) will always stick to the Proof of Work algorithm. In the picture a Bitcoin on a circuit board.

The demand for Bitcoin from the institutional side has increased massively in the last few months. Now another company has come across Bitcoin and has invested.

Ruffer Investment Company, a London based investment management firm, has announced that it has invested 2.5% of its portfolio in Bitcoin.

Bitcoin as a hedge against inflation

Ruffer LLP’s fund says they have more than $ 620 million in assets under management. Accordingly, the invested sum corresponds to approximately 15 million USD.

We see this as a small but powerful insurance policy against the ongoing devaluation of the world’s major currencies.

Bitcoin diversifies the company’s (much larger) investments in gold and inflation-linked bonds, and acts as a hedge against some of the currency and market risks we see.

They took this move recently in November „after reducing the company’s exposure to gold,“ calling it „a primarily defensive move.“

That makes them one of the largest known UK institutional investors to have exposure to Bitcoin.

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Portfolio diversification with BTC

This announcement, made in a performance update and manager comment letter, says that the new allocation to the digital currency was made following a recent inclusion, a specialist manager appointed within the Ruffer Multi-Strategies Fund .

The name of the new specialist is not mentioned, but it could hint at a potential new strategy for the publicly traded investment management firm, which is one of the first to allocate Bitcoin in its portfolio.

This follows increased interest from institutional investors after numerous studies concluded that Bitcoin can act as a diversifier and hedge. This shows that the risk-adjusted portfolio returns increase with the addition of Bitcoin.

The interest of institutional investors is not diminishing. Almost every week there are reports from hedge funds, insurance companies and other companies that have now invested in Bitcoin.

It’s just the beginning of a long journey. Right now, all big investors are still pioneers and paving the way for big investments. If you want to keep up in the digital age, you can no longer ignore Bitcoin.