Daily Crypto NewsEDITION #60, 24 October 2020

Bitcoin > PayPal

Hey #Moni Maker ✋

On Thursday, October 24, 1929, "Black Thursday" on the New York Stock Exchange took place. It was the most devastating stock market crash in the history of the United States. Today, the global economic situation also leaves much to be desired, while Bitcoin does nothing but please its supporters. The trick is to pay attention to the markets and the fundamental qualities of the assets in which you, my friend, invest. Follow these simple rules, and every Thursday and even every day will be bright for you!

So let's go check out the latest news!

What has $1,000 invested in BTC, shares, or goods at the beginning of the year turned into.

Bitcoin shows the best results.

So what?

Bill Gates, don't panic. You can always sell Microsoft shares and invest them in Bitcoin. (Not financial advice!)

According to AssetDash, Bitcoin's current market capitalization is just over $240 billion, up 1.05% in the last 24 hours. At the same time, PayPal's market capitalization fell by more than 4% to $239 billion, although PayPal shares are trading near historic highs.

Interestingly, it happened after PayPal announced it would support Bitcoin, and within days the BTC market capitalization exceeded that of PayPal itself.

So what?

Bitcoin's capitalization overtook the Bank of America, Adobe, and Disney. Higher up the list are Nvidia, Mastercard, Visa, Tesla, and the largest technology companies - Facebook, Microsoft, Amazon, and Apple.

Will Bitcoin overtake these guys? It is a rhetorical question.

What's that sound? It is the crumbling of market monopoly :)

PayPal is studying the possibility of buying crypto companies, Bloomberg reports with reference to its sources. It will allow the payment system to expand coverage of digital currencies, the publication writes. The goal is BitGo.

The deal may take place in the next few weeks. The publication notes that in the event of a breakdown in negotiations, PayPal can switch its attention to any other company in the industry.

BitGo was founded in California in 2013 by the current CEO, Mike Belsch. BitGo offers digital wallets that require many confirmations for transactions, as well as offline storage for BTC and other cryptocurrencies. BitGo has also launched a platform that combines trading, credit, and storage capabilities for digital assets.

So what?

It looks a bit like a scheme of "we'll buy everyone and become kings". But recent trends in the crypto market show that this scheme will stop working soon.

Decentralization is not just a trend; it is a lifestyle. Let's see how the market will perceive PayPal and how it will act.

Tether released another 300 million USDT tokens, increasing the total issue by 600 million USDT over the past week.

According to Cryptorank, USDT capitalization has increased by 23% since early September: $13.03 billion -> $16.07 billion.

So what?

Uh... Tether shows good results, but the trials and scandals around the asset are long-lasting and can negatively impact it in the future.

USDT, be a good boy, don't get sore, and stay away from trouble. And everything will be OK.

Acceptance of applications for participation in the Battle Portfolio is closed! 978 participants will fight for iPhone 12, PlayStation 5, and AirPods Pro!

Although some have set a goal to take the last place and get $100 for the "worst" portfolio, in any case, it will be interesting to watch the course of such a historical event.

All you have to do is follow the results on the battles.getmoni.io platform (you can already see everyone's achievements).

And exactly seven days later, on October 30 at 5 PM UTC, we will know who won!

Good luck, everyone!