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Bitcoin [BTC] can become a major global currency in the future, says Atlantic Financial CEO Bruce Fenton

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Bitcoin [BTC] can become a major global currency in the future, says Atlantic Financial CEO Bruce Fenton
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Bruce Fenton, the CEO of Atlantic Financial, a cypherpunk, and a member of Bitcoin Foundation, spoke about his entry into the cryptocurrency and blockchain ecosystem in a recent interview with Naomi Brockwell.

He explained that the most exciting technology to emerge out of the blockchain technology was Bitcoin, and said that it has the potential to disrupt global money. He further stated:

“Bitcoin, as a currency, has the potential to disrupt global money and become a new major form of money maybe even some sort of global reserve currency. I think that really has very far-reaching impacts. I’m excited about other applications, like from Wall Street, you know tokenization of securities and that kind of thing is pretty interesting as well”

He continued saying that he has invested a lot of his time in Bitcoin and added that Bitcoin or “Bitcoin-like” technology has the power to become a global currency. However, he advised caution as it was still too early to determine what the future would look like.

Fenton said that Bitcoin is probably his most favorite implementation of the blockchain technology, but added that he is fascinated by a lot of projects, which are very risky as well. The crypto enthusiast said:



“In the case of Bitcoin, you could lose everything that you put in, and all of these projects could go down to zero they are very risky so I’m always very cautious about any of these projects.”

The CEO also spoke about other projects that he is interested in, including Ethereum, Ethereum Classic, and Ravencoin. He shared his interest in Monero and MimbleWimble, saying that he was intrigued by the privacy aspects that cryptocurrencies have to offer. Fenton said that he is very active with Ravencoin because of its use-case i.e., tokenization. He commented:

“I co-authored one of the Whitepapers; I have been involved in it and working with community…I think…it’s a very cypherpunk type of project, and it has those aligns incentives as there was no pre-mine or founders shares or developers shares or ICO—- or fundraising of any type.”

Fenton said that he was always interested in free-market economics and emerging technologies due to his job at Wall Street. He added that the merging of technology and economics attracted him to the cryptocurrency community. Fenton explained that in 2012, even though he was in Wall Street, nobody was interested in cryptocurrency until he met Barry Silbert.

 





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Akash is your usual Mechie with an unusual interest in cryptos and day trading, ergo, a full-time journalist at AMBCrypto. Holds XRP due to peer pressure but otherwise found day trading with what little capital that he owns.

Bitcoin

Bitcoin prices hit $150 billion market cap for the first time in 2019 as prices pump by 11%

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Bitcoin prices hits $150 billion market cap for the first time in 2019 as prices pump by 11%
Source: Unsplash

Bitcoin’s parabolic rise that started in April seems to be staggering as the increase in price vs. the number of days it took to increase was surprising, considering the prolonged bear market.

The recent pump on May 27 at 23:30 UTC [+5:30] pumped the price from $7.995 to $8,939 in 7 hours with each green candle forming one after another. However, the price reached a peak at 05:30 UTC [+5:30]. After which the price declined by 2.85%.

Source: TradingView

Moreover, at press time, the market cap of Bitcoin has reached a new high, i.e., $154 billion and the price reaching $8,900 is a new all-time high of Bitcoin in 2019. Bitcoin’s total rise YTD was 146% and in a 24-hour time frame, the price of Bitcoin was up by 8.71%.



Meanwhile, altcoins have also followed suit as Ethereum pumped by 7.21%, XRP by 7%, Bitcoin Cash by 9.53%, Litecoin pumped the most in top 10 as it was up by 11.23% in 24-hours. Tron, the eleventh largest cryptocurrency pumped by 13.84%, at press time.

Anthony Pompliano, a well-known Bitcoin enthusiast tweeted:

“Someone check on @nouriel. Bitcoin seems to be coming back with a vengeance ever since he blocked most of Bitcoin Twitter.”





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