DeFI News by Thebittimes.Com

Tom Lee, Fundstrat Global Advisors co-founder, has put forth a bullish prediction regarding Bitcoin’s (BTC) near-term price action on CNBC’s Squawk Box on April 21. Namely, the financial analyst believes that the leading digital asset struggled at the beginning of the year due to the overleveraged positions of institutional investors.  “Now that deleveraging is done, I think that Bitcoin is gonna catch up to gold. And Bitcoin’s old high was over $110,000, so I think there’s a lot of room to catch up as a sort of non-dollar asset.” At the time of writing on April 21, Bitcoin was trading at $88,210, having marked a 4.43% gain on the daily chart, which has brought year-to-date (YTD) losses down to 5.67%. BTC price 1-day and year-to-date (YTD) charts. Source: Finbold Here’s how much Bitcoin would have to rally to catch up to gold In contrast with the leading cryptocurrency, gold prices have increased by 30.31% since the start of the year, having reached ...

Bitcoin vs gold has become, well, quite a hot topic these days, especially right now as many investors are desperately seeking some kind of protection against the ongoing inflation. The cryptocurrency’s fixed supply cap of exactly 21 million coins stands in pretty stark contrast to gold’s somewhat uncertain reserves, and this fundamental difference is actually sparking serious conversations about which asset might deliver better long-term value. Many experts are also suggesting that Bitcoin scarcity could trigger a significant supply shock as mainstream adoption continues to grow in the coming years. Also Read: AI Predicts XRP’s Price If It Becomes A Leading Crypto Under Trump’s Rule Bitcoin Vs Gold: Scarcity, Supply Shock, And Investment Impact Source: Watcher Guru The Scarcity Factor Gold’s value has traditionally come from its relative rarity, with mining operations becoming increasingly difficult and also more expensive over time. However, Bitcoin scarcity is mathe...

The de-dollarization narrative is yet to die down completely. With Donald Trump busy deploying aggressive tariffs on nations, the retaliatory forces have become quite active, mulling over launching counter-tariffs on the US. At the same time, 2 leading economies have decided to ditch the US treasury bonds, ending their reliance on the US dollar to bag gold in an attempt to stabilize their economic strata. Will this phenomenon derail the US economic anatomy and usher in de-dollarization? Let’s find out. Also Read: Changpeng Zhao’s Personal Crypto Portfolio Unveiled—What’s Fueling His Fortune India and China Are Bagging Gold Source: Finbold India and China, the two global superpowers, have decided to depend on gold and have decided to move away from US Treasury bonds. Per a recent post uploaded by the Kobeissi Letter, India and China have lately been diversifying their holdings, moving away from the dollar in all ways. This includes a pattern in which both nations have dumped US Tre...

Robert Kiyosaki, author of ‘Rich Dad Poor Dad’ and financial educator, is an influential voice in the realm of personal finance. He is also quite an outspoken market commentator — and never shies away from sharing his takes with investors. As a noted critic of fiat currencies, which he has often referred to as ‘fake money’, it comes as little surprise that Kiyoski is bullish on gold, silver, and cryptocurrencies — particularly Bitcoin (BTC). On the other hand, the author is also quite a controversial figure — often criticized for his incendiary, alarmist rhetoric, as well as the fact that he is approximately $1.2 billion in debt. However, over the course of 2024, Kiyosaki’s portfolio netted an impressive 76.03% return — buoyed primarily by Solana (SOL), Ethereum (ETH), and Bitcoin. Picks for you Funtico launches TICO to bolster gaming ecos...

It’s difficult to trade in the commodity markets, as leading assets are on a downward trajectory. Both soft and hard metals are heading south, giving investors the jitters. Commodities like the US dollar, steel, copper, and oil prices have dipped drastically, leading to massive losses for traders. According to speculation, the negative trend could continue in September as the Feds might not initiate interest rate cuts. The development leaves the commodity markets without takers, leading to bearish sentiments. Only gold stayed afloat in the markets, trading above the $2,500 level on Wednesday. Gold’s dips are minimal, while the highs are nearly 23% year-to-date. While gold maintained its surge in the charts, the US dollar, steel, copper, and oil prices began shedding their gains. Also Read: Meme Coins Plummet: Trump vs. Harris Debate Shakes Election Odds Commodities Going South in September: US Dollar, Steel, Copper, and Oil Prices Source: investmentu.com The US dollar, Chine...

BRICS member China is on a GOLD buying spree as it added 225 tonnes of GOLD to its reserves in 2023 alone, the latest data shows. China stockpiled 225 tonnes of GOLD worth a staggering $13.2 billion last year. The Communist country has been steadily accumulating GOLD since 2022 purchasing millions worth of the precious metal every month. In December last month, BRICS member China accumulated 9 tonnes of GOLD worth $532 million. Also Read: Pakistan Must Never Be Allowed To Join BRICS Under Any Situation: India Apart from China, the other BRICS countries India, Russia, and Brazil, are steadily purchasing gold. BRICS is officially the largest buyer of gold in 2023, outperforming every other country, reported the World Gold Council. Among the BRICS countries, China tops the list, while Russia and India, take second and third place, respectively. Read here to know how much gold the Central Banks have accumulated in a year. China Plans BRICS Currency To Be Backed By Gold? ...

Today’s investors face many options beyond stocks and bonds, with crypto vs. traditional finance becoming an increasingly common discourse. Both public and private players are constantly searching for opportunities to deploy capital into investment vehicles that yield substantial returns while posing minimal risk. However, the nature of risk appetite has evolved in the last decade with the emergence of a new asset class accessible from anywhere in the world. Before committing resources to any industry, whether it’s decentralized finance (defi) or traditional markets, invest ors need to understand what separates the two. This article explores crypto vs. traditional finance : the differences, similarities, and whether now is a good time to get into them. Сryptocurrency or traditional finance In the debate of cryptocurrency vs. traditional finance, the key differences lie in their operational models and accessibility. Traditional finance (tradfi) relies on centralized entitie...

Gold prices skyrocket on Tuesday hours before the Fed meeting where officials will discuss the next interest rate hike. The UAX/USD spot GOLD price jumped from a low of $1,977 to a high of $1992 after the opening bell. The 15-point jump in a day has attracted a large inflow of funds into GOLD from global institutional investors. Also Read: Gold Price Prediction Nov 2023: Will It Rise to $2,100 or Dip $1,900? Source: Investing.com The sharp rise comes after the US dollar remains weak and lower treasury yields due to more rate hikes. The Federal Reserve minutes are due later in the day and both the stock and commodity markets are reacting strongly. The price of GOLD is on a rally recently and jumped nearly 18% this month. Institutional investors are exiting the US treasury bonds and entering the GOLD markets for a safe haven. Gold is considered the safest investment and a hedge against inflation when the global market is in a downturn. Also Read: Gold To Become Expensive ...

Fidelity Investments executive Jurrien Timmer compares Bitcoin to “ exponential gold,” emphasizing its potential to surpass gold’s value in response to certain economic conditions. Fidelity Investments’ Director of Global Macro Jurrien Timmer offers a perspective that sees Bitcoin as an “ exponential gold,” highlighting its potential to outpace the value increase of gold under specific economic scenarios. Bitcoin is on the move again (following the pattern of previous boom-bust cycles, so far). What to make of it? Let’s revisit my thesis from late 2020: pic.twitter.com/gNFtbOScr2 — Jurrien Timmer (@TimmerFidelity) November 1, 2023 The value of Bitcoin has been rising, spotlighting its potential not merely as a form of digital money but also as a possible protective asset during economic turbulence. Advocates for Bitcoin suggest that it could serve as a financial safe place in times marked by rampant inflation, sub-zero real interest ra...

RBZ has launched a gold-backed ZiG digital token to address currency instability and inflation. ZiG offers a stable and versatile investment option, gaining investor interest. Investors have purchased 350kg of gold through ZiG, signalling a shift from the US dollar. The Reserve Bank of Zimbabwe (RBZ) has officially launched the Zimbabwe Gold (ZiG) digital token , backed by physical gold reserves, to address currency instability and rising inflation in the country. Zimbabwe has grappled with currency instability and soaring inflation for over a decade. After hyperinflation rendered the local currency nearly worthless in 2009, the nation adopted the US dollar as its official currency. However, in 2019, Zimbabwe reintroduced its own currency, only to face renewed currency volatility. ZiG: Gold-backed cryptocurrency In April 2023, the RBZ introduced the concept of the Zimbabwe Gold (ZiG) digital token, underpinned by physical gold reserves held in the centr...