Cryptocurrency Better Long-Term Investment Than Gold And USD

The German-Finnish entrepreneur and the creator of Mega, Kim Dotcom stated that cryptocurrencies and gold are better long-term investment than the US dollars.

He said USD will become worthless as he predicts a US economic collapse to happen 100%.

He then sites that the increasing debt of the US economy could lead to a massive devaluation of the US dollar in the long-term.

He added that if times get tough, but you were able to hedge some funds to gold or crypto, you will be fine.

Compared to Gold cryptocurrencies are more liquid, easily interchangeable and transportable which allows it to function as a better store of value and medium of exchange than gold.

Annual Fee Reduction On Coinbase Index Fund

On a blog-post last August 13, 2018, one of the U.S. biggest cryptocurrency exchange and service provider, Coinbase has announced that it will reduce its index Fund’s annual management fee from all existing and new investors.

It said that the annual management fee will be reduced from the current rate of 2% to a more cost effective rate of 1%.

It further explains that the initiative is part of their effort to help introduce a new category of institutional investors into cryptocurrency space.

The announcement also includes the rebalancing of the Index Fund to incorporate Ethereum Classic (ETC) as it was already included in the cryptocurrencies that is already supported by Coinbase.

Institutional Crypto Trading Now Available In Huobi

The first phase of institutional cryptocurrency trading in Huobi, a multinational cryptocurrency trading and services company, has initiated with limited features for a limited number of institutional clients.

The company will roll out additional features and expand availability overtime.

Initially, Huobi will offer limited services to about 100 institutional clients and ten deposit-withdrawal deals on a first come, first serve basis.

According to the company’s statement the institutional trading service will be an exclusive channel for institutions to ensure the safe, compliant and rapid deposit-withdrawal of high-value assets.

CBOE Leadership Hopeful Bitcoin ETF Approval

Chris Concannon, CBOE’s president and CEO is positively hoping that CBOE's Bitcoin ETF proposal will be approved by the Securities and Exchange Commission (SEC).

If this happens it will become the first company to win approval for a Bitcoin ETF.

Concannon said, once the ETF is approved, there will be a continued inflow of capital, based on the performance made by other ETF's

Pension And Salary Will Be Pegged to Petro In Venezuela

According to the current president of Venezuela, President Nicolas Maduro the country will start using “Petro” cryptocurrency as an official unit of account.

As part of this change, the state oil and gas company “Petroleos de Venezuela” (PDVSA) will be using the pretro as a mandatory accounting unit.

This is one of the governments remedy in fighting growing economic turmoil.

The country is seeking to revalue its cryptocurrency and create a new currency which is called “Sovereign Bolivar.”

The Central Bank of Venezuela will begin publishing the price of the sovereign bolivar according to the international rates of petro.

Similar moves are being instituted in order for the country’s salary and pension systems tied to the petro’s value.

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