SkyBridge Capital invests $ 182 million in Bitcoin (BTC)

SkyBridge Capital invests $ 182 million in Bitcoin (BTC)
Anthony Scaramucci’s investment fund, SkyBridge Capital, has just invested $ 182 million in Bitcoin (BTC). This purchase follows the creation of a new investment fund entirely dedicated to Bitcoin.

SkyBridge Capital dedicates 2% of its funds to Bitcoin

New week, new institutional investing millions of dollars in Bitcoin (BTC). SkyBridge Capital investment fund is the latest to join the “ Bitcoin Club ” circle , which is welcoming new members at an astounding rate.

According to a brochure for investors obtained by The Block, SkyBridge Capital has indeed just invested $ 182 million in Bitcoin.

Based in New York, this investment fund founded by Anthony Scaramucci has under management more than 9.3 billion dollars . Its investment in Bitcoin is roughly equivalent to 2% of its funds .

However, this purchase of bitcoins by SkyBridge Capital is not so surprising, and was even expected. Last week, the company filed a case with the Securities and Exchange Commission (SEC) to launch a fund dedicated solely to Bitcoin . SkyBridge has notably partnered with Fidelity Digital Assets and Silvergate to successfully launch this fund.

Already in operation, this fund called “  Skybridge Bitcoin Fund LP  ” has also invested $ 25.3 million in Bitcoin, according to the brochure shared with investors. This will be open to outside investors from January 4, who will have to invest at least $ 50,000 .

A new standard?

For a few months now, institutional investors‘ appetite for the queen of cryptocurrencies has not seen the slightest weakness, which can be felt directly in the price of Bitcoin . By approaching $ 30,000, Bitcoin has proven to all of its abilities to recover from a financial crash, especially that of March 2020 when it was around $ 4,000.

Bitcoin is one of the best performing financial assets of the year, with more than 278% increase . A performance that places it very far ahead of gold , which shows an increase of nearly 29% over the last 12 months:

In addition, Anthony Scaramucci is categorical, it is not too late to invest in Bitcoin :

“For us, I don’t think it’s late. On the contrary, it is the first step. You are about to see this wave of early adoption by the institutional community. I would like our investors to get involved before this happens on a large scale, ”he said.

Next year should have some nice surprises in store for us in the cryptocurrency world. Although Bitcoin is likely to see a correction soon , it is highly likely that it will hit new highs in the coming months.

DeFi in 2021, competitors Uniswap do not sit still

Yesterday, we wrote about the role of automated market makers in the success of DeFi in 2020. But how do you get users to provide their own liquidity? Without liquidity, the liquidity pools cannot fill. In order to persuade users, there has to be something in return. Because without the liquidity of users, decentralised exchanges cannot scale up.

Liduidity mining
In order to scale automated market makers (AMM) such as Uniswap, liquidity mining was devised. Before liquidity mining, it was a slow process to build up liquidity within DeFi protocols. Many potential capital providers considered the risky returns they could obtain in DeFi to be insufficient. It just wasn’t worth running so much risk for what you get in return.

Liquidity mining adds a nice reward for early investors, by distributing tokens that gave network governance rights to the contributors of capital. Those governance rights often include the possibility to take market place fees out of the protocol, which makes the tokens scarce.

Deposits into liquidity pools increased significantly, and decentralised exchanges such as Uniswap turned into money machines. This solves the problem of DeFi markets starting from a cold start, i.e. without any form of liquidity.

Dynamic automated market makers
Yesterday we wrote that Uniswap is proof that SMP works, and above you read that liquidity mining can scale up SMP. But the AMMs of Uniswap are not without problems. They are capital-intensive, because they need a balance of two tokens. Also, high market volatility creates an imbalance between SMPs and regular spot market prices, causing liquidity providers to lose money to arbitrage traders. Certainly less liquid Uniswap pairs (compared to, for example, Binance) fall prey to this.

Competitors in 2021
Balancer, Curve and Bancor are working on various solutions to these problems. Balancer is working on a constant product market maker. This means that several assets can draw from the same liquidity pool. So suppose you have ten Ethereum pairs, then you no longer need ten separate liquidity pools, but could combine them.

Bancor launched the second version of their SMP, using data oracles to dynamically balance the liquidity pools. This only happens if market prices deviate too much from spot market prices. Bancor itself says that this can improve capital efficiency by a factor of 20.

Curve tackles it differently. The SMP of Curve mainly consists of equal trading pairs. As a result, slippage is minimal. An example of such a trading pair is Tether-DAI, both stablecoins worth 1 dollar. Now you might think, what does the market gain from swapping stablecoins? As a liquidity provider (of several stablecoins) you can get between 10% and 50% interest and you get a part of the transaction costs (on which you also get interest). In addition, there is no ‚impermanent loss‘. If you provide liquidity for non-stablecoin pools, you must take into account the market value of the liquidity you provide.

It is expected that Uniswap will continue to dominate the DeFi exchanges in 2021. It is also expected that the popularity of decentralised exchanges will only increase and that Uniswap can become a top 10 exchange. Much depends on the user-friendliness of decentralised exchanges and how they deal with high transaction costs. These are inevitable in a bull run.

By 2020, the fixed dollar value in smart contracts will have risen from USD 600 000 to more than USD 16 billion. If next year DeFi gets part of the same hype as ICOs in 2017, it is easy to predict that this is just the beginning.

COVID-19 phishing scams explode on the Dark Web

Security firms have warned of an increase in scams linked to the COVID-19 vaccine.

Phishing and dark web sales requiring cryptocurrency have become a big problem.

Users must be vigilant so as not to find themselves victims of fraud

Two security companies, Check Point and KnowBe4, have alerted the world to a growth in phishing campaigns that use the pretext of a Covid-19 vaccine as bait.

It finally happened: Hackers are using Covid-19 vaccine promises to steal your information. According to a study published by Check Point and KnowBe4 , there has been a noticeable increase in suspected vaccine advertisements on the Dark Web in the past few days.

A particular example of phishing is an email promising access to COVID-19 vaccines which, in effect, grants access to the Agent Tesla (RAT) spyware trojan.

Phishing typically comes in the form of an authentic looking website that then steals information from a user when they log in. Other scams are as simple as asking a user to buy products through WhatsApp or Telegram, promising prescription pills in addition to COVID-19 vaccines.

A more sophisticated hack scam exploits stolen Pfizer / BioNTech vaccine data to scare users into giving up their credentials.

Eric Howes of KnowBe4 said fear tactics were a big part of these new scams. He said the crooks were preying on user insecurity by asking these questions:

Protecting yourself from COVID-19 scammers

Users should be wary of any vaccine, warns Check Point’s Oded Vanunu. He explained that people naturally search the internet for vaccines and information, but that such research could lead to criminals on the dark web.

Ways to avoid being scammed include checking email addresses before clicking on any links and knowing any hyperlinks that contain domain names or misspelled words. Anything that had highly manipulative and emotional / alarmist language was also a warning sign.

Rather than clicking on links, users can search for businesses on Google to make sure they’re using legitimate URLs. In general, it’s a good idea to never give out login information in response to an email.

Vanunu also suggested that users use two-factor authentication and regularly check their financial accounts.

Vaccines for sale!

The „sellers“ also claim to sell vaccines on the dark web. A con artist appears to be selling Pfizer / BioNTech vaccines for $ 250 a one. Since these vaccines need to be cooler than the Arctic to remain viable, the chances of the ads being genuine will likely be nil.

Some researchers have surveyed crooks to prepare for a bogus sale. With a supposed supplier, the vaccines were offered for 0.01 BTC / piece. These vaccines were not specified by brand and required 14 doses to work. The same vendor also had the allegedly ineffective hydroxychloroquine for sale .

Janet Yellen, a critique of Bitcoin at the US Treasury

Joe Biden would like former Fed president Janet Yellen, who is critical of Bitcoin, to lead the US Treasury. This position corresponds to that of a Minister of the Economy.

She would be the first woman in history to hold this position.

Since this rumor was reported in the Wall Street Journal, the cryptocurrency industry has gone back in time, reconstructing its policies for or against Bitcoin when it was at the helm of the Fed.

Who is Janet Yellen and what is her vision of Bitcoin?

Janet Yellen led the Federal Reserve from 2014 to 2018. She was, again, the first woman to lead the central bank of the United States. She became known as Ben Bernanke’s vice-president for her expansive policies, particularly following the 2008 crisis. She was among those who wanted to stimulate the economy with interest rates close to zero, and a massive purchase of government bonds.

It was therefore under his chairmanship that Bitcoin began to be overwhelmingly discussed, coinciding with some key episodes such as the speculative bubble at the turn of 2017 and 2018.

In this regard, it is worth mentioning some of his famous statements.

In 2014, following the closure of MtGox, which at the time was the most famous exchange crypto, before the US Senate Banking Commission, he said that Bitcoin was not regulated by the Fed:

„Bitcoin is a payment innovation that is occurring outside the banking industry. As far as I know, there is no intersection in any way between Bitcoin and the banks that the Federal Reserve has the ability to supervise and regulate. Therefore the Fed does not have the authority to supervise or regulate Bitcoin“.

These were also the days following the arrest of Charlie Shrem (at the time CEO of BitInstant) and Robert Faiella (implicated in Silk Road), both accused of money laundering. Precisely on the risk that BTC was used to launder money, Yellen said:

„The Fed has no authority over Bitcoin. But surely it would be appropriate for Congress to ask questions about the right legal structure for digital currencies.

It is not that easy to regulate Bitcoin because there is no central issuer or network operator. This is a global and decentralised [entity]… We are dealing with this.

In 2017 his judgement on Bitcoin was even worse, calling it „highly speculative“:

„Bitcoin plays a very small role in the payment system at the moment. It is not a stable source of value and is not legal tender. It is a highly speculative asset“.

However, he reiterated that the Fed could do nothing for Bitcoin:

„The Fed does not actually play any regulatory role in relation to bitcoin, other than to ensure that the banking organizations we supervise are vigilant, that they properly manage the interactions they have with the participants in that market and that they properly control the anti-money laundering, the responsibilities to act according to the banking secrecy they have“.

One of his last public statements about Bitcoin and cryptocurrency came in October 2018, when he was no longer running the Fed. at that time he said he was not a Bitcoin fan:

„I’ll just say I’m not a fan, and let me tell you why. I know there are hundreds of cryptocurrency transactions and maybe something more interesting is coming, but I think first of all, very few transactions are actually handled by bitcoin, and a lot of them that take place on bitcoin are illegal, illicit transactions“.

And it’s going to get worse:

„To be a useful currency, it must be a stable source of value, and bitcoin is anything but. So it is not used for many transactions, it is not a stable source of value, nor is it an efficient means of processing payments. It is very slow in handling payments“.

Illegal, unstable, practically useless a more negative view was hard to imagine.

Who knows that in recent years, and especially now that Bitcoin is moving towards new historical highs, Janet Yellen has changed her mind. Certainly times have changed: today Bitcoin is also used as a payment system, it has become an attractive product for banks, and initiatives and products for institutional investors have multiplied.

In any case, the appointment of Janet Yellen as the head of the US Treasury will be effective only when Joe Biden takes office as US President (January 2021) and will then have to be confirmed by the Senate.

A curiosity about Janet Yellen and her relationship with BTC should be mentioned: in 2017 during a hearing in the US Senate Finance Committee, while she was speaking, someone put up a sign with an unmistakable sign: „Buy Bitcoin“.

Bitcoinin hintaennuste: BTC / USD-hinta suurimmaksi osaksi karhujen hallintaa, kauppaa jopa alle 18900 dollaria

Bitcoinin (BTC) hintaennuste – 4. joulukuuta

BTC / USD on tällä hetkellä myyjien käsissä, mutta konsolidoituminen on todennäköisesti välillä 18 500 ja 19 000 dollaria.

BTC / USD: n pitkän aikavälin trendi: nouseva (päivittäinen kaavio)
Tärkeimmät tasot:

Vastustasot: 20 800 dollaria, 21 000 dollaria, 21 200 dollaria

Tukitasot: 17 800 dollaria, 17 600 dollaria, 17 400 dollaria

BTCUSD – Päivittäinen kaavio
Tämän viikon alussa BTC / USD käänsi päätään majesteettisella nousullaan korkeimmalle mahdolliselle 19 915 dollarin tasolle. Samaan aikaan BTC-hinta ei pysynyt pitkään nousussa välittömän kääntymisen takia. Eilen alkuaikoina BTC / USD piti yllä tukea yli 18700 dollaria, mutta markkinat ovat edelleen 9 päivän ja 21 päivän liukuvien keskiarvojen yläpuolella.

Mahdollinen seuraava suunta BTC / USD: lle

Bitcoinin hinta pysyy konsolidointitilassa liukuvien keskiarvojen yläpuolella, päättäen seuraavasta siirrosta. Voidaan kuitenkin odottaa, että markkinat voivat jatkaa myyntiä, jos kolikko rikkoutuu liukuvien keskiarvojen alapuolelle. Siksi, jos sonnit osoittavat edelleen vahvaa sitoutumista, BTC / USD voi nousta kanavan ylärajan yläpuolelle ja saattaa saavuttaa potentiaaliset resistanssitasot 20 800, 21 000 ja 21 200 dollaria, kun taas RSI (14) -indikaattori on etelään päin, saattaa antaa edelleen laskusignaaleja.

Siitä huolimatta päivittäinen kaavio osoittaa, että heikko nouseva voima saattaa vaikuttaa Bitcoin-härkiin, vaikka karhut saattavat todennäköisesti tuoda hinnan liukuvien keskiarvojen alapuolelle, mikä voi johtaa Bitcoin-hinnan $ 17,800, $ 17,600 ja $ 17,400 seuraaviin negatiivisiin liikkeisiin. .

BTC / USD: n keskipitkän aikavälin trendi: vaihteleva (4H-kaavio)
Bitcoinin hinta on nyt noin 18 825 dollaria, kun se on koskettanut korkeinta 19 456 dollaria. Neljän tunnin hintakaavion perusteella kauppiaat voivat nähdä, että karhut vetävät hintaa alle 9 ja 21 päivän liukuvien keskiarvojen. Sillä välin 18 300 dollarin tukitaso ja sen alapuolella voi tulla peliin, jos BTC rikkoo kanavan alarajan.

BTCUSD – 4 tunnin kaavio
Jos ostajat kuitenkin voisivat vahvistaa ja nostaa markkinahinnan liukuvien keskiarvojen yläpuolelle, kolikon odotetaan palaavan 19 500 dollarin vastustasoon. Siksi mainitun vastustason rikkominen voi nostaa kuninkaan kolikon $ 19,700: een. BTC / USD kuitenkin vakiintuu ja liikkuu sivuttain keskipitkän aikavälin näkymissä, kun RSI (14) liikkuu alle 50 tason.