Bitcoin Price Now Mere Moments Away From Setting A New All-Time High

Bitcoin price is trading well above $19,000 and it is the last stop before reaching $20,000 and setting a new all-time high. With no further resistance above the former peak, will the cryptocurrency go fully parabolic and enter price discovery mode starting today? Or will a long-overdue correction unfold with the vast majority of investors […]


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Peter Schiff Mocks BTC Reliance on Platforms like PayPal, Says “Gold is Money, Bitcoin is not”

Renowned Bitcoin critic Peter Schiff is at it again, this time expressing his views on why Gold is more efficient as a means of payment than BTC, particularly when third parties like PayPal have to be involved.

Peter Schiff took to his Twitter handle and posted:

“Once a third party is introduced to store Bitcoin, it loses any perceived advantage it has over gold as a medium of exchange. With third-party storage it’s far easier and more efficient to use gold as a payment method than it is to use Bitcoin. Gold is money. Bitcoin is not.”

Peter Schiff’s end game with the tweet appears obvious, and that is to appeal to the biggest third-party cryptocurrency custody provider that just entered the space PayPal to look into the potentials of Gold. PayPal’s debut into the crypto ecosystem is significant to Bitcoin as the online payment giant can potentially encourage the platform’s over 300 million users to also leverage Bitcoin and digital currencies and should drive adoption.

The support for Bitcoin has stirred a bullish rally in the price of Bitcoin and enabling capabilities for purchasing and custody of Gold may also have a positive influence on the price of the age-long store of value.

The Unending Comparison Between Bitcoin and Gold

Bitcoin is a relatively younger asset that made its debut back in 2009 and the coming of the coronavirus pandemic brought in inflation that made many people turn to Bitcoin as a hedge against inflation, a function Gold has served for centuries.

The point of criticism for Bitcoin by Peter Schiff who is a prominent gold holder may come owing to his belief that Bitcoin’s price is artificially inflated through market manipulations.

While Peter Schiff ranks as one of the major critics of Bitcoin who believes Gold is a better-held asset, Bitcoin has seen more influx of investors who are unrelenting in stocking up their Bitcoin portfolio. Some of these veterans include Paul Tudor Jones, Mike Novogratz, and Jack Dorsey amongst others

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Crypto Art Sales are Soaring as Non-Fungible Token (NFT) Market Gains Traction

Crypto art being bought and sold as ERC-721 non-fungible tokens (NFT) has been making headlines based on the record-breaking sales being witnessed. This emerging market is gaining traction in spite of the uncertain economic times, according to data acquisition and analytics company DappRadar.

Crypto art pieces selling for more than $100,000

September 21st marked the first time a crypto art piece had been bought for at least $100,000, following the unprecedented sale of “Matt Kane’s Right Place & Right Time” on This served as a signal to show the untapped potential in this emerging market.

Per the report:

“Now, under three months later a second piece has raised over $140,000. A programmable version of a scene depicting Vitalik Buterin of Ethereum dressed like a medieval harlequin leaning against a velvet chair made records this weekend when an NFT representation sold for 260 ETH or over $141,000 at the time of writing.”

The sale of the second piece serves as the icing on the cake in terms of the most paid crypto art in dollars.

The quest for a safe haven

The coronavirus (COVID-19) has triggered a global economic turmoil, and this has heightened investors’ pursuit for a safe store of value. This is one of the factors that is making the crypto art market to gain traction.

DappRadar acknowledged:

“The trend seems to be driven by a few major factors including Investors looking for a safe store of value and the space receiving heightened attention as platforms tried to integrate DeFi mechanics such as the use of NFTs as collateral, Insurance, and the delivery of governance tokens to loyal users.”

These crypto pieces seem to be giving investors value for money because they are unique artworks. For instance, Matt Kane’s ‘Right Place & Right Time’ piece is distinctive because it produces a new image daily.

Furthermore, it comprises 24 programmable layers synchronized with Bitcoin’s price volatility in the past 24 hours. The second piece is also exceptional because it utilizes a programmable technology called layering in remaking itself each day. Recently, the top 10 decentralized applications (Dapps) on the Ethereum Network surpassed 1 million daily users, and among them was Rarible, an NFT marketplace.

Image source: Shutterstock


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Chainalysis Valued at Over $1 Billion after Raising $100 Million to Expand Regulatory Platform As Crypto Market Surges

Major blockchain analytics firm, Chainalysis, announced yesterday that it has secured a $100 million Series C financing led by Addition, bringing the company’s valuation to over $1 billion.

According to the announcement on Nov. 23, Accel, Benchmark, and Ribbit also increased their investment in the blockchain analytics firm after participating in previous fundraising rounds.

The $100 million in capital will be used to further support the international expansion of Chainalysis’s network of government agencies, financial institutions, and other private sector businesses that relies on Chainalysis’s data platform and software solutions for transparency into cryptocurrency transactions and markets.

Chainalysis is a strategic partner to governments agencies and private sector businesses across the world, providing data, software, and expertise on compliance and sophisticated cryptocurrency crime and money laundering tactics, techniques, and procedures.

Since the beginning of November 2020, the world’s combined cryptocurrencies have added nearly $200 billion dollars in global market cap, with Bitcoin (BTC) leading the charge. Ethereum has risen over 30% and XRP’s price rocketed gaining more than 115% this week. Chainalysis is scaling its platform to meet the fast-growing demand for its data and technology—as institutional dollars flow into Bitcoin and cryptocurrency and digital assets become more mainstream and more highly adopted.

The blockchain analytics firm has been integral in assisting US law enforcement in several high-profile cases, including the Twitter hack in June, the disruption of two terror finance campaigns, the forfeiture of cryptocurrency addresses associated with a North Korea-aligned hacking group, and the seizure of $1B of illicit funds.

In addition, the blockchain analytics firm, launched an asset realization program to help government agencies and insolvency practitioners handle, store, realize, and monitor seized assets.

Michael Gronager, Co-Founder and CEO, Chainalysis said:

“Government agencies and the private sector need the right data, tools, and insights to responsibly oversee and participate in the cryptocurrency economy […] We have established a network of government agencies in over 30 countries and more than 250 of the most important businesses around the world who are making it safer and easier for consumers and businesses to transact, fundamentally changing the way money works. Our partners at Addition understand the power of our platform and are a natural partner for this next phase of growth.”

Chainalysis now reportedly valued at over $1 billion, extended its Series B to $49M in July, the company has since announced it also increased its number of customers by 65% and drove 100% growth in recurring revenue YoY in the third quarter of 2020.

“Chainalysis is the financial regulatory platform for the future of digital assets” said Lee Fixel, Founder of Addition. “The firm’s data, technology, and network are foundational to the blockchain ecosystem. With impressive growth to date, the opportunity for continued global expansion as the preferred partner to governments and businesses seeking compliance and investigative insights is massive.”

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Bitcoin (BTC) $ 27,220.29 1.81%
Ethereum (ETH) $ 1,908.16 2.43%
Litecoin (LTC) $ 95.05 1.11%
Bitcoin Cash (BCH) $ 114.59 1.11%