ALTCOIN, BLOCKCHAIN

Huawei to Launch Cryptocurrency to Compete with Facebook

Huawei CEO Ren Zhengfei has stated he would like to issue a cryptocurrency to compete with Facebook’s Libra, during a recent interview with Italian news agency, Corriere della Sera.

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Ren Zhengfei
Ren Zhengfei

“China can also issue such a currency by itself,” Zhengfei said.

“Why wait for others to issue it? The power of a country is always stronger than an Internet company.”

Earlier this month, China’s central bank, the People’s Bank of China (PBoC), stated Libra may pose a threat to China’s economy.

Wang Xin, director at PBoC, said that if Libra is pegged to mostly the U.S. dollar, China would be at a disadvantage.

“If so, it would bring a series of economic, financial and even international political consequences,” claimed Xin.

Last week, US policymakers cross-examined Facebook executives to get a better understanding of the Libra cryptocurrency.

Many in the crypto industry have been critical of Congress, claiming policymakers are repressing the new product without knowing all of the details.

“We’re putting regulation before the innovation,” said tech billionaire Tim Draper, during an interview with CNBC.

“Facebook just announced Libra. They haven’t even been able to ship it yet, and the regulators are all over them.”

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BITCOIN, BLOCKCHAIN

Bitcoin will Reach $25K by the End of 2019 According to Analyst

Oliver Isaacs, a bitcoin (BTC) price analyst, has stated he believes the price will hit $25,000 by the end of 2019, according to a report by The Independent.

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Oliver Isaacs

“There are multiple drivers behind the recent resurgence,” Isaacs stated.

“There are geopolitical, technological and regulatory drivers. The net effect of the trade war between the U.S. and China has led to the sudden interest in bitcoin as a hedge on investments.”

Billionaire tech investor, Tim Draper, takes this prediction even further, stated BTC will hit $250,000 by 2023.

“I think when you go to Starbucks to buy a cup of coffee, and you try to pay with dollars, they will laugh at you because you are not using bitcoin or other cryptocurrency,” stated Draper.

“It will be like the old lady paying out with pennies.”

When asked how much cryptocurrency Draper is currently HODLing, the billionaire responded: “a lot.”

Currently, the price of BTC is down 2.58% in the past 24 hours but is up +32.58% in the last 30 days.

The top cryptocurrency by market capitalization is trading at 7,858.17, at press time.

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BITCOIN, BLOCKCHAIN

Billionaire Tim Draper Believes Bitcoin Takes 5% of Global Market Share by 2023

Billionaire tech investor Tim Draper has stated bitcoin (BTC) will hold five percent market share of the entire world by 2023, during a recent interview on Fox Business.

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“It’s going to keep going because, I’m a believer than in four years, something like that, bitcoin will be about a five percent market share of the Earth,” he told the network.

“It’s a better currency, it’s decentralized, open — it’s transparent; everybody knows what happens on the blockchain.”

BTC has risen in value 14.50% in the last 24 hours, currently worth $7,321 at press time.

“I eventually want to have a fund where I take in bitcoin and I fund everybody in bitcoin and they pay their employees and suppliers in bitcoin and then I pay my investors in bitcoin,” he continued.

“I would then require no accounting, no legal, no bookkeeping, no custody — it would all be done.”

BITCOIN, BLOCKCHAIN

Billionaire Tim Draper Predicts Only Criminals Will Use Fiat in Five Years

Billionaire tech investor Tim Draper has stated in five years, only criminals will use fiat, during a Fox Business interview on Feb. 18.

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“The criminals will still want to operate with cash, because they catch everybody who is trying to use Bitcoin,” Draper said, elaborating on his forecast.

During the interview, Draper stated he believes money stored in traditional banks is less secure than money stored on a bitcoin (BTC) wallet.

“My bank is constantly under a hack attack,” Draper said, adding that nobody has managed to hack the BTC blockchain.

When asked how much cryptocurrency Draper is currently HODLing, the billionaire responded: “a lot.”

In November, Draper reiterated his prediction that bitcoin will be worth $250,000 by 2022.

Currently, the price of BTC is up +1.40% in the past 24 hours and +11.09% in the last 30 days.

The top cryptocurrency by market capitalization is trading at $3,972.38, at press time.

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BITCOIN, BLOCKCHAIN

Bitcoin to $250,000 by 2022: Billionaire Investor Tim Draper

During a discussion at the Web Summit conference, billionaire tech investor Tim Draper predicted the price of bitcoin (BTC) will hit $250,000 by 2022.

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“We are talking about five percent market share to get to $250,000. That seems like a drop in a bucket and all we need to really do is make it so that Bitcoin can be used to buy Starbucks coffee, and all of a sudden, the world just opens up and then they say ‘I’ve got this choice…’ Do I want a currency that I can take from country to country or do I want one that sticks me in one country or one geographic area and I can’t use it anywhere else?”

Draper continued stating “why do we even trust currencies that are determined by some weird political party or another?… Banks issue money whenever they feel like it for whatever reason they want it.”

In May, Draper spoke at the GovTech Pioneers conference and presented his concept for a future in which blockchain and artificial intelligence (A.I.) technologies will tremendously alter the responsibilities of governments.

“If we combine Bitcoin, blockchain with smart contracts and artificial intelligence, we could create the perfect bureaucracy,” said Draper.

In September, Draper predicted the market capitalization of cryptocurrencies will reach $80 trillion within the next 15 years.

“THE INTERNET STARTED IN THE SAME WAY, IT CAME IN BIG WAVES AND THEN IT KIND OF CAME CRASHING DOWN, AND THEN THE NEXT WAVE COMES CONCENTRATED BUT MUCH BIGGER, AND I SUSPECT THE SAME THING WILL GO ON HERE,” SAID DRAPER.

“THE INTERNET WENT AFTER INDUSTRIES THAT WERE $10-100 BILLION DOLLAR MARKETS, CRYPTOCURRENCY WILL GO AFTER TRILLION DOLLAR MARKETS – THESE ARE FINANCE, HEALTHCARE AND INSURANCE, BANKING AND INVESTMENT BANKING, AND GOVERNMENTS.”

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