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Former Goldman Sachs exec: Bitcoin ‘could work,’ but will attract more regulation

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The speculations about whether Bitcoin is heading toward mainstream adoption does not seem to die down. After corporations such as Grayscale and MicroStrategy raked up more of the asset, recently, every analyst seems to have an opinion about the debate. Bitcoin even seems to be popular among Wall Street legends, such as Paul Tudor Jones, Stanley Druckenmiller and Bill Miller. According to the former senior chairman of Goldman Sachs, Lloyd Blankfein, Bitcoin is far from global adoption.  

On the contrary, the investment banker was more in line with the views of Bitcoin critics such as Nouriel Roubini, Peter Schiff, and Ray Dalio. In a recent interview at CNBC Squawk Box, Lloyd Blankfein said that Bitcoin “could work,” however, the asset is not a viable currency. 

For every currency to be successful, it must possess certain properties such as storage of value and medium of exchange, which according to Blankfein, Bitcoin does not possess. 

At the same time, the exec shared his views on how regulations could get in Bitcoin’s way. He thinks that in the event that Bitcoin gets regulated, perhaps investors could grow accustomed to new rules, but it would cost them their privacy, a key property that attracts investors to Bitcoin, in the first place. He further said:

Like a lot of things, this could be workable, but it will undermine the freedom of liberty, and kind of lack transparency that people like about it in the first place.

Recently, the digital asset dipped in price which many believe could have been a result of FUD. Especially after ECB President Chritstine Lagarde called for regulating Bitcoin because of its association to illegitimate activities. Soon after which, Janet Yellen, President Joe Biden’s choice for Treasury secretary, believed that Bitcoin facilitated illicit transactions. 

Additionally, Blankfein believed that Bitcoin would only attract more regulators, as it grows in popularity and said

If I were a regulator I would be kind of hyperventilating at the success of it at the moment, and I’d be arming myself to deal with it. 

Source: https://ambcrypto.com/former-goldman-sachs-exec-bitcoin-could-work-but-will-attract-more-regulation/

Amb Crypto

Miami Mayor dismisses Treasury Secretary Yellen’s criticism of Bitcoin

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Over the past few weeks and months, Miami and Mayor Francis Suarez have been working towards positioning the city as the country’s premier crypto-hub. “We want to be one of the most crypto-forward and technological cities in the country,” Suarez had said in a recent interview, with the comments coming on the back of reports […] Source: https://ambcrypto.com/miami-mayor-dismisses-treasury-secretary-yellens-criticism-of-bitcoin/

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FD7 Ventures launches $250M Micro-Fund in India for Cardano, Polkadot-based projects

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A few days after FD7 Ventures, a Dubai-based crypto-investment fund, made news after it announced its decision to sell its Bitcoin holdings worth $750M to buy more Cardano and Polkadot, the fund is in the headlines again. According to a press release, FD7 Ventures has now launched a $250M Micro-Fund in India to invest in […] Source: https://ambcrypto.com/fd7-ventures-launches-250m-micro-fund-in-india-for-cardano-polkadot-based-projects/

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Why Mark Cuban is looking forward to Ethereum’s use cases

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Entrepreneur Mark Cuban is in awe of Ethereum network and thinks that blockchain technology could be a game-changer for various industries. In a recent interview, Cuban said that it is the “simplification of smart contracts” on Ethereum that gets him “excited.” He said: Because now, all these SaaS companies, all these different companies, I could […] Source: https://ambcrypto.com/why-mark-cuban-is-looking-forward-to-ethereums-use-cases/

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Litecoin, EOS, Enjin Coin Price Analysis: 01 March

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Litecoin seemed positioned for additional losses after the long-term moving average closed in on the short-term line. EOS moved within a descending channel after finding support at $3.5. Lastly, ENJ went past a key resistance and saw its price rise on the charts. Litecoin [LTC] Losses in the last seven days amounted to over 25% […] Source: https://ambcrypto.com/litecoin-eos-ftx-token-price-analysis-01-march/

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