Daily Crypto NewsEDITION #61, 26 October 2020

Everyone wants to be in crypto

Hey #Moni Maker 👍

Last week can easily be called the Bitcoin week. The first cryptocurrency has overshadowed everyone with both significant growth and numerous adoption-related news. Let's not procrastinate and dive right into the news - there are tons of things to explore!

We are launching a new contest in honor of the Portfolios' Battle. The prize is our awesome NFT token, here it is on the pic below. ⬇️

How to participate? 🤔

1. Get in our waitlist here or via the Telegram bot @getmoni_bot;

2. Invite friends!

In total we will give out 10 NFTs. 🥳

5 will go to those guys who invite the most friends, and the other 5 will be allocated by the great power of entropy. 👌

The end date is October 30. Let's go!

PayPal Holdings Inc. has finally joined the crypto market. The largest payment giant will allow customers to buy, sell and store Bitcoin and other cryptocurrency using online wallets.

Also PayPal is studying the possibility of buying crypto companies, Bloomberg reports with reference to its sources. It will allow the payment system to expand coverage of digital currencies, the publication writes. The goal is BitGo.

The deal may take place in the next few weeks. The publication notes that in the event of a breakdown in negotiations, PayPal can switch its attention to any other company in the industry.

BitGo was founded in California in 2013 by the current CEO, Mike Belsch. BitGo offers digital wallets that require many confirmations for transactions, as well as offline storage for BTC and other cryptocurrencies. BitGo has also launched a platform that combines trading, credit, and storage capabilities for digital assets.

So what?

It looks a bit like a scheme of "we'll buy everyone and become kings". But recent trends in the crypto market show that this scheme will stop working soon.

Decentralization is not just a trend; it is a lifestyle. Let's see how the market will perceive PayPal and how it will act.

Anyway, hello PayPal!

Tether released another 300 million USDT tokens, increasing the total issue by 600 million USDT over the past week.

According to Cryptorank, USDT capitalization has increased by 23% since early September: $13.03 billion -> $16.07 billion.

So what?

Uh... Tether shows good results, but the trials and scandals around the asset are long-lasting and can negatively impact it in the future.

USDT, be a good boy, don't get sore, and stay away from trouble. And everything will be OK.

Billionaire and founder of Tudor Investment hedge fund, Paul Tudor Jones, known as the "storm predictor," is even more optimistic about Bitcoin than before and believes that BTC is the best tool against inflation.

"I like bitcoin even more now than I did then. I think we are in the first inning of bitcoin, and it's got a long way to go," Jones said on CNBC's "Squawk Box" on Thursday.

The billionaire believes the unprecedented QE, the new dollar seal, and the Fed's economic support packages are paving the way for huge inflation, and Bitcoin is one of the best hedges against inflation, much like gold.

"The reason I recommended bitcoin is because it was one of the menus of inflation trades, like gold, like TIPS breakevens, like copper, like being long yield curve and I came to the conclusion that bitcoin was going to be the best inflation trade," Jones said.

So what?

It only took 11 years for BTC to stay in one line with gold. 11!!!

In Russia, this is the path of a schoolboy. So...there is still college ahead, a master's degree, a postgraduate course... Yes, "your bubble burst" 😁