Grayscale CEO outlines 6 themes that will shape crypto market in 2021

Michael Sonnenshein, the newly appointed CEO of Grayscale Investments, believes 2021 will mark another pivotal year for digital-asset investing as institutional capital and nation-state adoption drive the next leg of the bull market. In a keynote address at this year’s virtual CFC St. Moritz Conference, Sonnenshein identified three key investment themes that underpinned Bitcoin’s (BTC) dramatic breakout in 2020. They were: macroeconomic uncertainty and quantitative easing; legendary investors and brand-name companies investing in BTC; and the continued strengthening of regulatory frameworks around digital assets. Sonnenshein believes 2021 will see a…

Bitcoin can scale on chain just fine as a store of value, Blockdaemon CEO suggests

Can Bitcoin’s (BTC) blockchain handle full mainstream adoption as a store of value, without needing layer-two scaling solutions? Konstantin Richter, founder and CEO of blockchain infrastructure company Blockdaemon, seems to think so. “Bitcoin is the best cryptocurrency suited for store of value,” Richter told Cointelegraph, adding: “In terms of what the Bitcoin blockchain can currently handle from a latency and throughput point of view, Bitcoin is very strong. If we start talking about using Bitcoin for payments, that’s where the need for layer-2 scaling comes into play, but for people who…

Pantera Capital CEO doubles down on $115K Bitcoin prediction for 2021

Dan Morehead, founder and CEO of Bitcoin (BTC) investment firm Pantera Capital, has maintained his bullish Bitcoin prediction for 2021. Bitcoin is poised to hit as much as $115,000 by August 2021, surging 200% in the next eight months, Morehead reportedly said at a conference call on Jan. 12.  The exec initially made this prediction in August 2020, when Bitcoin was trading at about $11,600. At publishing time, the cryptocurrency is trading at over $38,000. On Tuesday, Morehead said that Bitcoin still has lots of room for growth: “Is bitcoin overvalued?…

‘Thankfully’ my son owns Bitcoin, says $140B asset management CEO

Bitcoin (BTC) at $34,000 may have gained a new convert after billionaire investor Howard Marks admitted that he needed to change his “skeptical view.” In his latest investor memo dated Jan. 11, Marks, who is co-chairman and co-founder of the $140 billion Oaktree Capital Group, noted that while he was critical of Bitcoin during its 2017 bull run, his son had “thankfully” bought in.  Marks on crypto: Do you own research “Back in 2017, my memo ‘There They Go Again… Again’ included a section on cryptocurrencies in which I stated…

Bakkt has no plans to support XRP, says CEO

Bakkt, one of the biggest cryptocurrency companies in the United States, will not support XRP as part of its further product development, according to the CEO. On Jan. 11, Bakkt CEO Gavin Michael sat down with the Axios Re:Cap podcast to discuss the mainstream adoption of Bitcoin (BTC) and other digital assets. Michael said that Bakkt is planning to roll out support for a number of altcoins on its platform in the future, but XRP is not one of them. Michael declined to comment on whether the company decided to stay away…

Bitcoin’s recent correction could be retail-driven, Nexo CEO speculates

The price of Bitcoin (BTC) has dropped substantially since Jan. 8, totalling a decline of more than $10,000 at time of publication. Retail investors could be part of the rationale behind the drop, according to Nexo CEO Antoni Trenchev.  “The price correction we’re seeing was brought about by retail investors following the lead of institutions that created the Bitcoin high,” he told Cointelegraph on Jan. 11, adding: “Once BTC passed $40K, earnings were at a height that triggered smaller investors who are, understandably, more prone to selling quickly. There has been…

Bitcoin’s short-term price trajectory could be bleak, says Celsius CEO

Healthy price corrections are generally part of market bull runs. With one such drop currently underway, Celsius’ CEO Alex Mashinsky thinks $16,000 could be in the cards.  “I have been predicting that Bitcoin and many altcoins will hit new all-time highs during 2021 and beyond,” Mashinsky told Cointelegraph. “Still, we will see several corrections, like what is going on today, that will allow savvy investors to accumulate these assets at a discount.” After Bitcoin broke its 2017 record high in December 2020, the asset continued upward in parabolic fashion, finding…

Ripple CEO answers 5 key questions about the SEC lawsuit

Ripple CEO Brad Garlinghouse has revealed the firm unsuccessfully attempted to settle its securities violation lawsuit with the SEC, and slammed the “regulatory chaos” around cryptocurrencies.  I’m not going to litigate the SEC’s unproven allegations on Twitter, and as you can imagine, there are new considerations to what can / should be said publicly after the litigation process starts. However, I would like to address 5 key questions I’ve seen. 1/10 — Brad Garlinghouse (@bgarlinghouse) January 7, 2021 In a Twitter thread addressing what he described as “5 key questions”,…

Ripple CEO Reveals New Details About SEC Lawsuit

Key Takeaways Ripple’s CEO has revealed that the firm tried to settle with the SEC prior to the regulator filing charges against it. Ripple’s legal counsel says that the firm’s full legal team will announce themselves soon. The firm will file a legal response in the coming weeks. Share this article Ripple CEO Brad Garlinghouse has revealed several new details about the SEC’s lawsuit against the firm and its XRP sales. Ripple Tried to Settle With SEC Garlinghouse revealed on Twitter that Ripple was originally unable to settle with the…

Tesla’s crypto-friendly CEO is now the richest man in the world

Elon Musk, CEO of SpaceX and Tesla, has surpassed the net worth of Amazon founder Jeff Bezos. “Elon Musk has become the world’s richest person, as his net worth crossed $185bn (£136bn),” the BBC reported on Thursday. The futuristic businessman gained staggering wealth last year. “Musk started 2020 worth about $27 billion, and was barely in the top 50 richest people,” CNBC noted on Thursday, adding: “Tesla’s rocketing share price — which has increased more than ninefold over the past year — along with his generous pay package have added…