A bruising week for cryptocurrencies, stock markets and even gold...
One week in review:
Feb. 17–Mar. 1 We've selected the hottest materials of the past week for you to stay up to date with the latest crypto news: | | #1. A bruising week for cryptocurrencies, stock markets and even gold | | | This week, it seemed like nowhere was safe from panic over the coronavirus. Almost $3.2 trillion in U.S. stocks has been wiped out since Monday — and over the past seven days, Bitcoin has tumbled by more than 13%. Even gold, traditionally regarded as a safe haven asset, wasn't immune from the sell-offs. The coronavirus outbreak has now spread beyond mainland China — with South Korea, Italy and Iran hit the hardest. Expect further turmoil in the markets if the virus continues to spread at this alarming rate. | | #2. Warren Buffett doesn't want to own any cryptocurrency | | | Pompliano's fighting talk came after Buffett had told CNBC that he doesn't own any cryptocurrencies because they "basically have no value." It seems like the world's fourth-richest man wasn't sold on Bitcoin when he met up with Tron CEO Justin Sun for a charity lunch. Warning about how cryptocurrencies don't produce anything, Buffett said: "What you hope is that somebody else comes along and pays you more money for it later on, but then that person's got the problem. In terms of value… zero." However, there's a twist. Sun says Buffett does own cryptocurrency because he was given some as a gift — adding that blockchain records can prove it. | | #3. Revolut will make crypto available in 50 states | | | After gaining traction in Europe, Revolut is now planning to enable Americans in all 50 states to buy and sell everything from Bitcoin and Ether to Litecoin and XRP. Square is being eyed up as Revolut's biggest competitor in North America — and the fintech firm believes it could gain the upper hand because of how it supports more than just BTC. | | #4. Prediction of the Week Shark Tank's Robert Herjavec says Bitcoin's price will "quantuple" long-term | | | We love a bold prediction here at Hodler's Digest — especially one that may not actually make much sense. Robert Herjavec, the multimillionaire star of "Shark Tank," has said he believes BTC is currently valued at only a fraction of its long-term potential. He told Kitco News: "I think the price of Bitcoin, on a long-term basis, will quantuple, if that's a word." (A quick footnote here… quantuple isn't a word. We can't be sure, but we think he may mean "quintuple," which would see BTC increase fivefold.) His inability to access a dictionary doesn't seem to be the only problem. During the interview, Herjavec appeared to confuse the term "Bitcoin" with the entire crypto industry as a whole, adding: "You can buy different types of Bitcoin, and I think it's a bit of a fragmented industry." That'll be Ether, Rob. | | #5. FUD of the Week Courts will seize BTC with miners' help: Self-proclaimed Satoshi Craig Wright | | | Craig Wright has claimed Bitcoin can and will be seized to accommodate court orders. The Australian entrepreneur believes the first seizures of the cryptocurrency by the courts will happen this year — and that it could happen without private keys. Wright is now calling for hacked exchanges that have lost Bitcoin to get in touch so "people get their money back, starting this year." He went on to say: "You see, Bitcoin is easily confiscated, easily returned to the owner." | | #6. FUD of the Week Threat alert: New trojans targeting major crypto exchange apps discovered | | | A new trojan that steals two-factor authentication codes generated by the Google Authenticator app has been identified by an Amsterdam-based cybersecurity firm. "Cerberus" has an extensive list of targets, including the U.S.-based cryptocurrency exchange Coinbase. It is also believed that the Remote Access Trojan has the ability to steal device screen-lock PIN codes and swipe patterns. | | Feel free to explore the most important news with Hodler's Digest by Thomas Simms:
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