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Alphabit Digital Currency Fund Deploys Initial Investment in Stratis Protocol and Initiates Coverage – Press release Bitcoin News

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PRESS RELEASE. Stratis’ innovative blockchain solutions have attracted the attention of the digital asset investment fund, Alphabit, who have injected an initial investment while committing to a further 8 figure investment over the next 24 months for growth and development of the BaaS ecosystem.

1st February 2020, London, United Kingdom: Blockchain as a Solution (BaaS) service provider Stratis makes decentralized adoption easier for any firm with its innovative products designed to fit seamlessly with legacy operations, by allowing companies access to the Stratis blockchain via the widely-used C# programming language. The platform allows seamless running of smart contracts, multiple sidechains, and houses a full-scale ICO platform.

Alphabit, A billion USD AUM fund and one of the world’s first regulated digital asset investment funds focused on delivering turn-key solutions and assisting projects with end-to-end partnerships, enters into this venture to rapidly scale Stratis’ development and help deploy cutting edge products that allow mainstream organizations to use blockchain in their day to day operations. The significant commitment by Alphabit is a testament to the groundbreaking approach of Stratis’ offerings.

CEO of Alphabit Liam Robertson commented on the partnership:

“Stratis Protocol, after analysis, fits neatly into our investment thesis and we believe the potential for growth for Stratis to be exponential. We are delighted to welcome Stratis into our portfolio and look forward to supporting them over the coming months and years.”

Stratis CEO Chris Trew said the following:

“We are thrilled to partner with Alphabit, one of the world’s first regulated digital asset investment funds. Alphabits initial injection, in conjunction with their further investment commitment, will unquestionably assist in accelerating the adoption of Stratis Technologies, while cementing Stratis as the go-to platform for Microsoft .NET Blockchain development.”

With the expertise and backing of Alphabit, Stratis will be empowered to develop ever-better solutions for the b2b market. Coupled with their C# support, Stratis’ solutions will increase the onboarding of blockchain solutions in the global market.

About Stratis

Stratis offers unprecedented levels of security, reliability and performance through leveraging blockchain. First of its kind, the platform’s native C# ecosystem enables firms all over the world use their existing IT infrastructure and tools to adopt the technology by providing access to the Stratis blockchain’s features, in a language which is familiar to the everyday developer.

  • Stratis Identity: A decentralized KYC and AML check to make it easier for businesses to verify client identities and comply with regulations.
  • Supply Trust: A turnkey solution for supply chain management, providing full visibility in a trustless and decentralized environment.
  • STO Platform: Regulation-compliant digital securities for businesses launching STO’s
  • Stratis Smart Contracts: Secure and auditable digital contracts that are developed in the industry-standard Microsoft C# language, fit for the DeFi age.

About Alphabit

Alphabit specializes in investments in blockchain and distributed ledger technology projects. They offer a wide range of advisory services and act as the Investment Advisor to the Alphabit Fund; one of the world’s first regulated digital asset investment funds.

Their goal is to share their expertise with promising projects and advance the cryptocurrency movement as a whole, and to date, Alphabit has successfully brought to market projects like Metal Pay, The Sun Exchange, and Suterusu.

To find out more about how Stratis is bringing the next generation of blockchain to businesses, visit their website, or to see how Alphabit is empowering Blockchain businesses to reach new heights, visit their website.

Follow Stratis on Twitter – https://twitter.com/stratisplatform

Join the Stratis Developer Academy – https://academy.stratisplatform.com/

Check out Stratis on GitHub – https://github.com/stratisproject

Read the latest Stratis news – https://www.stratisplatform.com/news/

 

Media Contact Details

Contact Name: Bitcoin PR Buzz Press Team

Contact Email: press@bitcoinprbuzz.com

 

About Bitcoin PR Buzz: Bitcoin PR Buzz has been proudly serving the crypto press release distribution needs of blockchain start-ups for over 8 years. Get your Bitcoin Press Release Distribution today.

 

Stratis Group LTD is the source of this content. This Press Release is for informational purposes only. The information does not constitute investment advice or an offer to invest. Virtual currency is not legal tender, is not backed by the government, and accounts and value balances are not subject to consumer protections.

 


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

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Argentinean Startup Accelerator Launches Crypto Mining Farm in Mar Del Plata – Mining Bitcoin News

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Felipe Erazo

The Technological District of Mar del Plata, Argentina, will host a massive crypto mining operation backed by a domestic startup accelerator. Lothal Mining is the company that will run the operations of the mining firm in the Argentinean city.

Firm Will Mine Ethereum During the First Stage

Per local newspaper La Capital, Grupo Neutrón invested almost 45 million pesos ($310,000), and there are plans to allocate additional funding of 200 million pesos ($2.21 million).

The infrastructure is ready, and in a first stance, the firm will mine ethereum (ETH). However, the company plans to expand to other cryptocurrencies.

The funding provided by the startup accelerator seeks to acquire hardware, refrigeration equipment, building the mining farm, hiring staff to perform electrical maintenance, among other activities.

Also, officials of the Ministry of Industry of the Nation were in the mining farm to check the project’s launching. Maximiliano Gonzáles Kunz, Grupo Neutrón’s CEO, pointed out that crypto mining is urgently needed in the context that fiat is “tending to lose ground progressively.”

He added:

With this equipment, for example, we can make our processing power available to companies that enter the world of cryptocurrencies and need to transact those operations.

Growing Interest in the Crypto Mining Project, Claims CEO

On the decision of picking Mar del Plata as a hub for the mining rig, Gonzáles Kunz praised its strategic location for the technological ecosystem of the city.

Moreover, he believes the synergy created among the startups within the area is the proper environment to set up a project like this one.

Still, the startup accelerator claimed that there is “a lot of interest” in the crypto mining project. On the energy supply costs, Grupo Neutrón’s CEO commented:

We will make investments in infrastructure to guarantee a stable and cheaper supply. (…) We have strategic alliances with Grupo Núcleo and Neutrón. This gives us access to hardware availability at the best market costs, capital investments for the project, and a technological ecosystem that allows us to achieve synergy with different projects in the sector.

What do you think about this new mining rig in Argentina? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Goldman Sachs Sees Huge Institutional Demand for Bitcoin — 76% of Clients Say BTC Price Could Reach $100K This Year – Bitcoin News

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Kevin Helms

Global investment bank Goldman Sachs is seeing huge institutional demand for bitcoin with no signs of abating. A survey of Goldman’s institutional clients shows that 61% expect to increase their cryptocurrency holdings. Meanwhile, 76% say the price of bitcoin could reach $100,000 this year.

Goldman Sachs Sees No Signs of Institutional Demand for Bitcoin Abating

In a podcast published Friday, Mathew McDermott, head of Digital Assets for Goldman Sachs’ Global Markets Division, discusses the cryptocurrency trading environment for institutional investors.

He explained that his team conducted a cryptocurrency survey across the firm’s institutional client base, from “hedge funds, to asset managers, to macro funds, to banks, to corporate treasurers, insurance, and pension funds.” He clarified that “all of our institutional client discussion is really focused around bitcoin.”

His team received responses from 280 institutional clients and published the results of the survey this week. “What’s been particularly interesting,” according to McDermott, was that “40% of the clients currently have exposure to cryptocurrencies,” which he explained could be in any forms, from “physical through derivatives, through securities products, or other offerings in the market.” The executive revealed:

In terms of institutional demand, we have seen no signs of that abating … We see a huge amount of demand institutionally, [and] we’re also seeing that reflected in the private wealth management space as well.

He further described that “corporate treasurers, for example, they’re interested in two different aspects.” The first is whether they should be “investing in bitcoin on their balance sheet,” McDermott detailed, citing that “the key drivers from their perspective are negative rates … [and] just the general fears around asset devaluation.”

In addition, he said that they are also thinking “should we consider it as a payment mechanism? … particularly in the context of Tesla’s announcement.” Elon Musk’s electric car company, Telsa, said that it invested $1.5 billion in bitcoin in January and will soon be accepting the cryptocurrency as a means of payments for its products.

Out of the institutional clients that have crypto exposure, the survey shows that 41% own physical or spot crypto. McDermott emphasized:

61% of the clients expect their digital asset holdings to increase over the next year.

As for what’s stopping institutions from investing in cryptocurrencies, 34% of respondents believe that “regulation, internal investment, mandate permissions” are the greatest hurdles to start allocating to crypto assets. 24% believe that a lack of well-regulated, investable crypto assets is the greatest hurdle.

Goldman Sachs Sees Huge Institutional Demand for Bitcoin — 76% of Clients Say BTC Price Could Reach $100K This Year

Most Goldman’s Institutional Clients Expect Bitcoin Price Could Reach $100K This Year

As for the future outlook of cryptocurrencies, 54% of respondents predict the price of BTC will be between $40,000 and $100,000 in 12 months while 22% predict it will be more than $100,000. This price level is not far-fetched as several fund managers are predicting the same, including Skybridge Capital and Mike Novogratz.

“In terms of the price action, I think it’s very difficult to predict bitcoin. It’s not an easy pastime,” McDermott opined, elaborating:

The survey was quite insightful in the sense that 76% agreed that the price by the end of the year would be between $40,000 and $100,000 … But, 22% were predicting over $100,000.

“I was on a similar survey with a private roundtable recently and the results there echoed something quite similar where 33% were predicting over $80,000 by the end of the year,” the Goldman executive further shared.

The global investment bank recently restarted its bitcoin trading desk. McDermott confirmed that the desk will begin handling bitcoin futures and non-deliverable forwards for clients. Goldman’s global head of commodities research, Jeff Currie, recently said that the bitcoin market “is beginning to become more mature,” calling the cryptocurrency “a retail inflation hedge.”

What do you think about Goldman Sachs’ view on bitcoin? Let us know in the comments section below.

Tags in this story
Bitcoin Price, bitcoin price 2021, BTC Price, Goldman Sachs, goldman sachs bitcoin, goldman sachs crypto, goldman sachs cryptocurrency, institutional demand, institutional investors, price estimate, price prediction

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Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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22% of Investors Say Their Institutions Likely to Trade or Invest in Cryptocurrencies – Finance Bitcoin News

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Terence Zimwara

A recent JP Morgan poll found that 22% of the respondents said their respective organizations were likely to trade or to invest in cryptocurrencies. This figure (22%) is double the percentage of respondents (11%) who said yes when asked if their respective organizations were already trading or were invested in cryptocurrencies.

The Institutional Embrace of Cryptos

According to a report, the findings of this latest poll represent fresh evidence that backs the claim that more mainstream institutions are embracing crypto assets. Already, since the start of the year 2021, major corporations like Tesla have revealed their cryptocurrency holdings. Similarly, large hedge funds like Blackrock have signaled their intention to get exposure to crypto-assets like bitcoin (BTC).

Still, as the same report shows, an overwhelming majority (78%) of investors whose institutions are yet to embrace cryptos; said there were no plans to invest or to trade in cryptocurrencies. Additionally, nearly all the respondents (98%) “believe fraud in the crypto world is ‘somewhat’ or ‘very much prevalent.’”

Cryptos Are Here to Stay

Yet, despite this perception or reluctance to invest in cryptocurrencies, some 58% of the respondents still believe that this new asset class is “here to stay.” On the other hand, some 7% of the investors assert that cryptocurrencies “will become one of the most important assets.”

Since the start of Q4 of 2020, when Square Inc., announced its BTC holdings more listed companies have revealed the values of their cryptocurrency holdings. This fact is also supported by the latest data from bitcointreasuries.org, a website that tracks public and private companies that hold BTC. According to the site’s data, more than 1.36 million bitcoins, or 6.49% of the crypto asset’s circulating supply is currently in the hands of large companies and hedge funds.

Still, despite this apparent embrace of digital assets by mainstream organizations, some 21% of the polled investors still see cryptocurrencies as just a “temporary fad.” Additionally, about 14% of the respondents are in agreement with the characterization of crypto assets as “rat position squared.”

Do you agree with the view that crypto assets will become one of the most important assets? Tell us what you think in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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