BGold and Coinbase – Déjà Vu, All Over Again?
Back in December, in one of the most egregious examples of gross mismanagement; and if you’re a conspiracy theorist, insider trading; the price of BCash exploded higher, “coincident” with a massive CNBC pump piece…just before Coinbase surprised the crypto world by listing BCash a month ahead of schedule. The fact that CNBC’s Twitter feed is operated by the wife of a BCash insider made things worse…not to mention, the equally “coincident” Bitcoin attack.
Not surprisingly, Coinbase’s management team said no insider trading took place…and heck, a judge recently said so, too. However, it couldn’t be more obvious to the trained eye…as much so as Elon Musk’s securities fraud.
This week, BGold has been pumping hard – which is great news, as it is my number comp for BRhodium; i.e, the “Berkshire Hathaway of Altcoins,” that I expect to imminently launch. Yes, altcoins in general are surging, but not all of them like BGold. Thus, when Adam Meister suggested it might have to do with Coinbase, a lightbulb turned on in my head.
Regarding BCash, whether insider trading actually occurred is unprovable. However, Coinbase clearly wanted BCash’s price as high as possible when it launched BCH trading - to offset the anger clients had at not being able to split it for four months; and equally importantly, in my view, to have as much funds at Coinbase as possible, for clients to TRADE with.
In BGold’s case, the price is vastly lower than when it first started trading, so clients are going to be angry irrespective. However, per above, if Coinbase is getting ready to announce the splitting of BGold; and simultaneous BGold trading launch; there’s a good chance the BCash playbook is being utilized, to at least some extent.
Given that Coinbase appears ready to launch numerous altcoins, BGold would likely be a top priority. Which, I might add, is not a guarantee BGold will continue to pump, though it certainly increases the odds. I’m just curious what will happen, so let’s wait and see.