It’s time for our news recap, so if you’re curious about what’s going on in the blockchain space, and what the Nexo team is thinking and doing about it, this is the place for you. Hot off the press this week we have an interview with Co-founder and Managing Partner Antoni Trenchev on CNBC, an extended piece on the potential of blockchain governance, and some commentary on the value of Coinbase’s stock.
Antoni on CNBC
As Bitcoin rallied to $40,000 for the first time in the last couple of months, CNBC anchors Hadley Gamble and Matthew Taylor, interviewed Antoni about his views on what’s fueling the rally, whether it will last and what to expect from Bitcoin and crypto in the near future.
Watch the full video or read a summary below:
Bitcoin has been rangebound for six weeks, but if the 200-day moving average sticks close to or above 45,000, we can say we’re out of the woods. If not, BTC will likely re-taste the $28 – $30K levels.
Crypto is volatile and that’s why we like it. The volatility, though risky, yields big growth. In the time horizon of one, three, five, or 10-years, BTC outperforms other assets.
Regulators are finally paying attention to crypto and so far all they’re saying is that they’re going to regulate it as they do the traditional financial industry.
Despite hash rates going down upon news of Chinese regulation, the Bitcoin network did not slow down which is a sign of its extreme resilience.
BTC is much too valuable to spend casually on small or daily items which is why it’s currently not an ideal medium of exchange.
When it comes to Amazon not accepting Bitcoin: the question is not “Does BTC need Amazon?”, but rather “Can Amazon withstand not working with crypto?”