Bitcoin Surges Towards Record Peak as Chainlink Founder, Sergey Nazarov, Declares Bitcoin F丶cks as Safe Haven: Article
Bitcoin is exhibiting growing characteristics of a safe haven asset, a view shared by notable figures like Sergey Nazarov, the founder of Chainlink. According to reports from Fox Business, Nazarov suggests that Bitcoin's behavior is becoming more reminiscent of gold, particularly as the world experiences increased instability.
Nazarov believes that Bitcoin's decoupling from technology stocks signifies the start of its transformation into a second, logical safe haven asset following gold. Johan Kerbrat, senior vice president of Robinhood Crypto, concurs, noting that investors are beginning to store Bitcoin as a reserve currency during market or global instability.
In line with this concept, Bitwise indicates that publicly traded companies increasingly view Bitcoin as a reserve asset, rather than a speculative, high-risk investment. In a recent report, Bitwise cites a 392,726 BTC increase in corporate holdings over a six-month period, equivalent to 196,363 BTC acquired per quarter.
As of writing, Bitcoin is trading at approximately $110,318, just 1.2% away from reaching new record highs.
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In other industry news, Falcon Finance and HOT Wallet have partnered to provide scalable on-chain yield and USDf utility to retail users. Cache Wallet has launched a token sale with early demand and an innovative asset recovery breakthrough. Gomble Games has introduced Gomble Builders, a Web 3.0 game creation platform built by communities for the masses, among other announcements.
Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3, The Daily Hodl provides insight into the dynamic and evolving financial landscape.
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency, or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor.
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Press Release: $350,000 Check Kiting Scam Targeting US Banks
In a different development, a man is facing multiple charges in an alleged $350,000 check kiting scam that targeted multiple U.S. banks. The suspect reportedly opened checking accounts in various states and deposited checks into those accounts, quickly withdrawing funds from different banks and reordering the checks to cover the withdrawals before the checks cleared. This scam succeeded until the banks recognized the repeated and coordinated activity, leading to the suspect's arrest.
- Johan Kerbrat, senior vice president of Robinhood Crypto, agrees with Nazarov's view that investors are starting to store Bitcoin as a reserve currency during market or global instability, following its transformative behavior into a potential safe haven asset.
- Bitwise reports a significant increase in corporate holdings of Bitcoin over a six-month period, with publicly traded companies viewing Bitcoin as a reserve asset rather than a speculative, high-risk investment.
- As Bitcoin exhibits growing characteristics of a safe haven asset, various altcoins and blockchain-based technologies are also gaining attention in the finance industry, with companies like Falcon Finance, HOT Wallet, Cache Wallet, and Gomble Games making industry announcements.
