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Crypto currency LiteCoin Ultra has risen 151% within the past 24 hours.
It recently traded at 5.006E-05 Bitcoins which is about 41.7 Pandacoins.
LiteCoin Ultra is a hybrid PoW/PoS cryptocurrency based on the Scrypt Algorithm.
This coin is listed on Cryptopia and Yobit cryptocurrency exchanges.
What is your opinion about LiteCoin Ultra and its outlook for the future?
Please put your thoughts on LiteCoin Ultra (LTCU) in the comments of this video.
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One of the biggest asset managers in the United States and major investor in the gold market, VanEck, is now entering the bitcoin.
is one of the biggest investment and asset management firms in the United States. The investment giant is currently managing an estimated amount of $38 billion in assets. The firm which was founded in 1955, has offices in the United States, Germany, and Australia, which in recent years has focused on precious metals like gold, silver, and platinum.
The company is currently offering more than 50 different exchange-traded funds(ETF) for pension funds, banks, and endowments. Currently, VanEck’s main investment tool is gold but now it appears that it’s going to “dive” into the bitcoin market.
The market capitalization of Gold is about $7 Trillion, compared to the market cap of bitcoin which is a little over $71 billion, bitcoin appears relatively small. But VanEck believes that there still a lot of potential in the bitcoin market.
In a recent , Morgan Stanley believes that bitcoin might still be too immature to serve as an inflation hedge and that gold is a better investment. In the article Morgan Stanley analyst, Tom Price, stated following about bitcoin:
Some claim that the protocol limiting bitcoin’s supply growth rate, underpins its value,
he also added:
But if bitcoin is successful long term, we should continue to see competitor cryptocurrencies and market strategies emerge to exploit the new economic rent — a Bearish risk for bitcoin’s price.
According to on August 11, the famous investment firm filed with the U.S. Securities and Exchange Commission(SEC) for an official VanEck Vectors bitcoin Strategy ETF. The idea behind this special fund would be that it would invest into bitcoin futures contracts and be available for trading on Nasdaq.
This is a huge deal since this would allow stock traders to invest into the success of bitcoin without actually buying any bitcoins. VanEck’s decision to create a bitcoin ETF might not come as surprising as most people might think. bitcoin greatly outperformed gold, since January bitcoin has risen 310% and gold has only grown 11% in the same timeframe.
bitcoin ETFs aren’t a new invention. Back in , the famous Winklevoss bitcoin ETF was officially rejected by the SEC because of regulatory issues. A very recent by Bloomberg has concluded that bitcoin ETFs may soon become a reality.
What are your thoughts on VanEck’s bitcoin ETF? Do you think that it will make bitcoin mainstream for stock traders? Let us know in the comments below!
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