Novogratz doubles down on Bitcoin / Report: Bitcoin is preparing for a bull run / Vinny Lingham's opinion of US government stimulus

Inside Cryptocurrency .

Inside.com Part of   Network April 22, 2020

Market Watch In a reverse from yesterday, coin prices across the board are back in the green today. Bitcoin remains under the $7,000 mark but is up over two percent in a 24-hour period. The biggest winner, though, is DigiByte, which has seen a near 10 percent rise in the same time frame. Bitcoin: $6,995 (⬆️ 2.12%) // $128.2 billion market cap. Ethereum: $176 (⬆️ 3.04%) // $19.5 billion market cap. XRP: $0.186 (⬆️ 1.57%) // $8.2 billion market cap. Tether: $1.01 (⬆️ 0.05%) // $6.3 billion market cap. Top 100 Winner: DigiByte: $0.007 (⬆️ 9.81%) // $104 million market cap. Top 100 Loser: Quant: $5.12 (⬇️ 9.05%) // $61 million market cap. Prices are as of 2:30 p.m. ET.

Report: Bitcoin is preparing for a bull run. The report suggests that Bitcoin is maturing toward that of a digital gold while the COVID-19 pandemic is helping. Comparing it to the S&P 500, it says that on a one-year basis, Bitcoin is up 40 percent compared to a 15 percent decline for the S&P 500. To read our synopsis of the report, and gain access to all of our other great features, subscribe to Inside Crypto Premium for just $10 a month, or $100 a year. Click here to upgrade to premium! UPGRADE TO INSIDE CRYPTO PREMIUM

Mike Novogratz doubles down on Bitcoin. The former hedge fund manager and founder of Galaxy Digital, a crypto-focused merchant bank, is once again talking about Bitcoin. This time it's in light of the oil's recent price drop, new stimulus measures passed by the U.S. Senate, and Bitcoin's May halving event. During an interview on CNBC's Fast Money, Novogratz said that "Bitcoin has this moment right now." In Novogratz's opinion, as more money continues to be printed, people will turn their attention to crypto, which offers scarcity. He added that the upcoming halving event – which will reduce rewards for miners from 12.5 Bitcoins to 6.25 – is likely to boost Bitcoin's appeal. @CNBCFASTMONEY/TWITTER

Crypto Masterclass, featuring Vijay Ayyar. Our Crypto Masterclass feature showcases a well-known thought leader or expert in the crypto space, including their visions and advice for the future. "What we witnessed in the oil markets yesterday was more a technical clash in pricing rather than actual market activity since the June futures contract is still trading above 0." Having said that, though, Vijay Ayyar, head of Asia at crypto exchange Luno, is of the opinion that this will be an interesting time for an alternate and young asset class such as cryptocurrencies. Citing Ray Dalio, former co-chief investment officer at Bridgewater Associates, he writes that what we are seeing now is the end of a long-term debt cycle between 75 and 100 years, similar to what took place in the 1930s.... To continue reading Ayyar's views, including what could happen over the next few months, subscribe to Inside Crypto Premium for only $10 a month, or $100 a year. Click here to upgrade to premium! SUBSCRIBE NOW TO FIND OUT MORE

Vinny Lingham: U.S. government stimulus will have little impact on dollar's value. The co-founder and CEO of Civic, an identity and protection management startup, expressed his views today on Twitter. In Lingham's opinion, as the supply of the U.S. dollar increases, it leverages Gresham's law to maintain stability. This is unlike other countries, which when they create government stimulus packages, push their economies to the brink. Just as Bitcoin has a dominance index in crypto, the dollar has one, too, Lingham writes. In his opinion, even with the issuance of more dollars, its dominance is rising, which will offset inflationary effects. Continuing on, Lingham said that even with another $2 trillion it won't create any inflationary effect on the value of the dollar, at least not short term. @VINNYLINGHAM/TWITTER

Everledger is using its blockchain technology to help the diamond industry offset carbon emissions. Everledger's platform is being used by a diamond company to meet consumers' demand for the environmental footprint of each diamond... To read the full story, including what retailers may take advantage of the platform, subscribe to our Premium edition. Click here to upgrade to premium! SUBSCRIBE NOW TO FIND OUT MORE

Privacy-focused altcoin Beam will undertake its second hard fork in June. In a blog post published today, Beam said that its network upgrade will take place at Block Height 777,777, which is expected to occur on June 28, 2020. Following the fork, the network's proof-of-work (PoW) algorithm will shift from BeamHashII to BeamHashIII. According to Beam, the move will be a huge improvement to the mining network which, in turn, allows for better capabilities of a GPU card. It also means that it will make "unknown optimizations" used for secret mining more unlikely. The hard fork will activate confidential assets, provide support for privacy protocol Letanlus Mimblewimble, and activate support for one-sided payments. BEAM PRIVACY/MEDIUM

This newsletter was written and curated by Rebecca Campbell. She has been writing and reporting on various industries for the past 10 years, more specifically tech in the last three.  Editor Beth Duckett is a former news and investigative reporter for The Arizona Republic who has written for USA Today and other publications. A graduate of the Walter Cronkite School of Journalism, she won a First Amendment Award and a Pulitzer Prize nomination for her original reporting on problems within Arizona's pension systems.

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