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United Kingdom-based investment manager Ruffer Investment Company has added BTC to its portfolio, allocating 2.5% of its Multi-Strategies fund as a “defensive move” against the “continued devaluation” of fiat currency.
Mt. Gox’s trustee Nobuaki Kobayashi has filed a draft plan for the rehabilitation of creditors, including former users of the now-defunct cryptocurrency exchange. The plan promises to return over $2.6 billion worth of bitcoin to former users.
Cryptocurrency cloud mining firm Genesis Mining has published the results of a survey it conducted with 1,000 cryptocurrency investors in the United States with over 24 questions. It showed 17% of investors believe the price of bitcoin will be above $50,000 by 2030.
Sponsored: One of the world’s leading licensed and regulated Bitcoin sportsbook, backed by one of the top global financial firms, continues to improve its wide range of sporting events and casino games to bet on.
Top stories in the Crypto Roundup today:
- UK Investment Manager Allocates $15 Million to Bitcoin in ‘Defensive Move’
- Mt. Gox Trustee Files Draft Plan to Return Creditors’ Bitcoin
- 17% of Crypto Investors See Bitcoin’s Price Above $50,000 by 2030, Survey Finds
- BNT, UMA, EGLD Are Moving in the Crypto Market
- Sponsored: LatinBet24 continues to shatter the industry with its leading best odds and live betting action
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UK Investment Manager Allocates $15 Million to Bitcoin in ‘Defensive Move’
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United Kingdom-based investment manager Ruffer Investment Company has added BTC to its portfolio, allocating 2.5% of its Multi-Strategies fund as a “defensive move” against the “continued devaluation” of fiat currency.
The allocation is worth about $15 million was made in November after the investment manager reduced its exposure to gold in favor of the flagship cryptocurrency. The firm wrote:
“We see this as a small but potent insurance policy against the continuing devaluation of the world's major currencies. Bitcoin diversifies the company's (much larger) investments in gold and inflation-linked bonds, and acts as a hedge to some of the monetary and market risks that we see.”
Ruffer was founded in 1994 and has 20.3 billion euros (about $27.2 billion) in total assets under management. It has roughly 6,600 clients worldwide.
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Mt. Gox Trustee Files Draft Plan to Return Creditors’ Bitcoin
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Mt. Gox’s trustee Nobuaki Kobayashi has filed a draft plan for the rehabilitation of creditors, including former users of the now-defunct cryptocurrency exchange. The plan promises to return over $2.6 billion worth of bitcoin to former users.
The trustee’s announcement reads that the “Tokyo District Court and an examiner will review the draft rehabilitation plan and determine whether to proceed with the rehabilitation proceedings relevant to the draft rehabilitation plan.
The Mt.Gox hack was one of the largest in the cryptocurrency space’s history, as the platform was at the time responsible for over 70% of bitcoin’s trading volume. Mt. Gox declared bankruptcy after the hackers stole 850,000 bitcoins from its wallets. The estate comes from 200,000 BTC found in an old wallet and the BCH created from these coins.
The announcement may mark the beginning of the end for users who have been waiting to receive their BTC back since 2014.
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17% of Crypto Investors See Bitcoin’s Price Above $50,000 by 2030, Survey Finds
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Cryptocurrency cloud mining firm Genesis Mining has published the results of a survey it conducted with 1,000 cryptocurrency investors in the United States with over 24 questions. It showed 17% of investors believe the price of bitcoin will be above $50,000 by 2030.
According to the published findings, about 5.5%% of investors expect the price of the flagship cryptocurrency to go over $100,000 in the next decade but stay below $500,000, while 4.8% pointed toward the $500,000 mark. 8.3% said it would trade between $50,000 and $100,000.
Other respondents were less bullish, with only 10% saying BTC will trade between $1,000 and $5,000 by 2030, and 11.8% saying it will be under the $1,000 mark. 16% of respondents pointed towards the cryptocurrency’s current range between $10,000 and $20,000.
While some respondents revealed they believe declining trust in alternative currencies and a major economic depression will help BTC’s price rise in the future, others said the threat of regulation and government-issued bans will hinder its growth.
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BNT, UMA, EGLD Are Moving in the Crypto Market
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Several tokens are leading the charge in the last 24-hour period. Some of these are well-known cryptocurrencies with rather liquid trading pairs, so we’ll be focusing on these over low-cap cryptos that may have higher percentage changes.
Bancor Network Token (BNT) - The Bancor Protocol is a blockchain-based system for discovery and a liquidity mechanism supporting multiple smart contract platforms. The flexibility of these blockchains allows tokens to be locked in reserve and to issue smart tokens on the Bancor system. BNT is up 32.24% in the last 24 hours.
UMA (UMA) – UMA is designed to power the financial innovations made possible by permissionless blockchains like Ethereum. It uses concepts borrowed from fiat financial derivatives. The UMA token is up 31.3% in the last 24-hour period.
Elrond (EGLD) – Elrond is a Secure Proof of Stake (SPoS) blockchain that strives for interconnectivity and security. Its solution for smart contracts is an EVM compliant engine to ensure interoperability by design. EGLD is up 17.6% in the last 24 hours.
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LatinBet24 continues to shatter the industry with its leading best odds and live betting action
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One of the world’s leading licensed and regulated Bitcoin sportsbook, backed by one of the top global financial firms, continues to improve its wide range of sporting events and casino games to bet on.
Jessica Vogel, Head of Public Relations for LatinBet24, said “with our institutional backing, and regulated high-tech platform, we offer the safest and most secure place to satisfy our customers’ bitcoin gaming and entertainment needs. From our sportsbook to our vast array of slots, to our live casinos, we offer something for everyone. We will also be offering a 100% bonus match for any new customers, up to 5 BTC.”
LatinBet offers a wide range of major and minor sports, including a full Bitcoin casino, live casino, and E-Sports, currently accepting BTC, ETH, BCH, and USDT.
About LatinBet24
Licenced and regulated by the Curacao Gaming Commission and backed by one of the leading Global Financial firms, LatinBet24 is a joint venture between CloubBet and All Blue Capital. CloudBet was initially established in 2013, and it is the world’s leading sportsbook and bitcoin casino platform with satisfied customers in over 100 countries.
LatinBet24 offers a full suite of gaming options, tailored for a worldwide audience with the best odds, superior customer support, fast withdrawals and the best technology in the marketplace.
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