The CEO of Galaxy Digital believes that baby boomers could begin to enter the cryptocurrency market en masse. This sector would begin to invest millions of US dollars, thus strengthening the position of cryptocurrencies in the financial mainstream.

Gen Z and millennials have dominated the crypto market for years. These young generations have had a greater capacity to understand and accept the workings of crypto assets. However, investor Mike Novogratz believes that this could start to change. He assures that baby boomers will enter the crypto market en masse next year.

Existence of a Generation Gap

The generation gap that exists in the adoption of cryptocurrencies should not take anyone by surprise. The last two generations (millennials and Z) have had extensive contact with technology. Hence, they are used to using digital instruments such as Bitcoin. However, baby boomers have not had the same type of experience.

For that reason, members of this generation still believe that they can only find investment-worthy assets in the traditional sector. More specifically, they believe that it is best to invest in the US dollar, stocks, and real estate. They do not consider under any circumstance virtual currencies such as Bitcoin as they do not provide enough confidence in their solidity.

However, although these assets are typically aimed at younger generations, the investment from the baby boomer generation has benefited them. Mike Novogratz believes that baby boomers could provide up to a trillion US dollars to the cryptocurrency market next year.

Baby Boomers Enter the Cryptocurrency Market

The investor and CEO of Galaxy Digital noted that cryptocurrencies have become widely accepted financial assets in the traditional market. He added that wealthy baby boomers could start investing millions of US dollars in the cryptocurrency market. That would help further strengthen the position of cryptocurrencies as mainstream financial assets.

“That giant group of wealth could invest up to a trillion US dollars over the next year. The money could start arriving early next month,” according to the executive.

Major Financial Institutions Also Enter this Market

The entry of major financial institutions into the cryptocurrency market would also drive this movement even further. A clear example is the new launch of the platform for trading Bitcoin derivatives from Goldman Sachs. Besides, Morgan Stanley has announced that it will give its wealthiest customers access to buy Bitcoin through their investment accounts. In that way, they are opening the doors for baby boomers to enter the cryptocurrency market.

For their part, JMP Securities predict the entry of USD 1.5 trillion into the cryptocurrency market by large institutional investors. Members of the baby boomer generation constitute a good part of this group, who could become the main drivers of the price of cryptocurrencies.

Cryptocurrencies have gained so much strength within the world economy that representatives of all sectors have been adopting them. The fact that the baby boomer generation is contributing to their growth is just one sign that proves it.

By Willmen Blanco

The cruise ship intended to become a home for Bitcoin nomads, but a startup has bought it. Its owners sold it for scrap but a new cruise line could put it to use by the end of the year.

A 12-story 245-meter-long residential cruise liner, called MS Satoshi, aimed to become a home for the Bitcoin community. Now it is back after a cruise company bought him, according to international sources.

After remaining inactive in Panama since the end of last year, they decided to put the ship in motion. In recent days, it sailed to Bar City, Montenegro, on the Adriatic Sea in Southern Europe.

The History of the Satoshi Cruise Ship

In the beginning, the cruise ship offered its services as “Regal Princess” in 1991. After that, its owners transferred it to P&O Cruises Australia in 2007.

The cruise ship sailed to Carnival Corporation’s P&O Cruises Australia as “Pacific Dawn” until 2020. Then they were ready to transfer it to Cruise & Maritime Voyages (CMV) later that year.

CMV’s closure in 2020 led them to sell the ship to Ocean Builders. The latter planned to turn it into a cryptocurrency tech hub off the coast of Panama.

They Abandoned the Project Due to Lack of Insurance

The truth is that Ocean Builders received the Satoshi cruise in November of last year. However, they left the project arguing that they had insurance problems.

At that time, they decided to sell the Satoshi cruise ship for scrap. For that reason, the ship remained inactive in Panama.

“The Satoshi cruise ship, which we sold as scrap metal on December 18^th, was sailing from Gibraltar to Panama. We hope that it will arrive next week for its supply of fuel and then go to a scrapping center in India,” Ocean Builders said then.

Ocean Builders’ Plans for the Bitcoin Community

The main investor from that company is Chad Elwartowski, an American Bitcoin trader. He desires to create permanent homes at sea without any government restrictions.

For that reason, Ocean Builders had an ambitious plan to launch a “crypto cruise.” They wanted to provide blockchain enthusiasts with a friendly environment in which to live and work with cryptocurrencies.

However, the Satoshi cruise plan never came to fruition. In December 2020, they alleged that they did not have insurance for the concept of a community aboard an old cruise ship. That situation led the project’s organizers to sell the Satoshi cruise ship for scrap.

New Possibilities for the Cruise Ship

“We exhaustively sought an insurance group to insure the Satoshi cruise. However, we have not yet found an insurance company that is willing to insure MS Satoshi,” said the company.

At the time, Ocean Builders CEO Grant Romundt said that they would not be able to “go ahead because of archaic insurance companies. They are incapable of adapting to new innovative ideas.”

To conclude, if the legal problems have a solution, the Satoshi cruise may receive new life in a cruise line’s fleet. No one knows yet which one it is but it may start to operate later this year.

By Willmen Blanco

Bitcoin exceeded USD 59,000 and major altcoins are also on the rise, recording notable gains. The first cryptocurrency by market capitalization broke the USD 1.1 trillion mark, outperforming Canada’s and Australia’s M1 money supply.

The price of the pioneering cryptocurrency recently exceeded USD 59,000 after PayPal confirmed the formal launch of crypto payments. The payment services provider will formally announce that it will introduce the long-awaited payments feature to its customers in the United States.

Last year, there was a stir in the ecosystem after the company confirmed its entry into the world of cryptocurrencies. That launch will finally roll out to all users and 29 million traders.

According to Dan Schulman, president and CEO of PayPal, people will now be able to use cryptocurrencies within their PayPal wallet. They will do it without problems, in the same way as with a credit or debit card.

PayPal will not focus solely on Bitcoin but the price action of the cryptocurrency reacted favorably to the announcements. The price of the cryptocurrency exceeded the all-time high of USD 58,300 in February and then exceeded USD 59,000.

The Cryptocurrency Market Grows Alongside Bitcoin

The price of major altcoins accompanied that of Bitcoin as they are also on the rise and have recorded notable gains. The increase in their price has been between 2% and 9%, according to data from CoinGecko.

The most prominent cases are Ethereum (ETH), Binance Coin (BNB), Ripple’s XRP, Litecoin (LTC), Chainlink (LINK), Bitcoin Cash (BCH), Crypto.com (CRO), Solana (SOL), AAVE, and IOTA (MIOTA).

Regarding the use of cryptocurrencies in PayPal, the company expects the payment service to be available for four of them: Bitcoin (BTC), Ether (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). Customers paying with cryptocurrencies will not incur transaction fees on purchases, and can only use one currency per purchase.

Bitcoin’s Market Cap Once Again Exceeds Canada’s M1 Money Supply

The price of the first cryptocurrency by market capitalization recently broke the USD 1.105 trillion mark. This growth now means that the size of the Bitcoin market has exceeded Canada’s M1 money supply of USD 1,104 trillion.

With the current figure, the market capitalization of Bitcoin is also greater than the M1 money supply of the Australian dollar. The latter is currently at approximately USD 1.079 trillion.

Bitcoin’s market capitalization is now so large that the cryptocurrency is in the top 10 rankings for limited money stocks.

M1, or limited money, is the total supply of physical currency in circulation, which has different forms. These include traveler’s checks and other forms of demand deposits held by non-bank institutions, public companies, and private sector organizations, among others.

Once again, Bitcoin has proved that it is capable of exceeding previous all-time highs after its drops. In this case, both its trading price and its capitalization market increased. For this and other reasons, the cryptocurrency that Satoshi Nakamoto created continues to be the best investment option in the market.

By Willmen Blanco

Hollywood’s Ashton Kutcher and Will Smith companies also took part in the financing round. NBA Top Shot has moved more than $ 460 million in NFT trade.

Dapper Labs, the Top Shot collectibles platform’s creator, acquired $ 305 million in a funding round. Among the famous investors who took part in the round, users can find the former player Michael Jordan and the Brooklyn Nets’ current star in the NBA, Kevin Durant.

The company reported on the financing on Tuesday, March 30, and cited by specialized media such as Business Insider. Others involved in the capital investment appear in the text, including other NBA figures, such as Klay Thompson which ranks as a new addition to a group that already included some league figures.

The statement claims that athletes from the American baseball league, MLB, also took part in the investment. In the American football league, the NFL entered the group too. The list also highlights several companies; for instance, the investment firm Coatue, which led the round: 2 Chainz, Venrock, the Chernin Group, and USV, along with the companies Sound Ventures, of Ashton Kutcher; and Dreamers VC, by Will Smith.

According to a source, with this new fund injection, Dapper Labs reaches a valuation of about 2.6 billion dollars. Dapper Labs is the creator of NBA Top Shot, a non-fungible tokens (NFTs) platform representing game highlights in the basketball league.

The new capital will serve for the company to extend its tentacles beyond the borders of the NBA. Thus, other professional sports leagues would arrive with their own tokenized videos on the blockchain.

Said Roham Gharegozlou, CEO of Dapper Labs, said: “We’d want to bring the same magic to other sports leagues, as well as help other entertainment studios and independent creators find their approaches to exploring open platforms.”

NFTs are Gaining a Spot in Sports

NFTs, collectible tokens on some blockchain, are exploding positively among investors and enthusiasts of the cryptocurrency ecosystem. But they are also making their way faster among a more considerable diversity of people and industries.

In a matter of few months, the world of NFTs has turned into an industry that moves millions of dollars daily on different platforms and various types of trade in works of art, musical pieces, and endless digital representations of physical components.

And in the sports world, NFTs have found a substantial spot. NBA Top Shot is right now the platform of its kind with the highest volume of trade, according to DappRadar. In total, Top Shot had managed to move more than $ 460 million since its inception, three times what has been going through CryptoPunks, which ranks as second on the list.

The record for the most expensive NFT in NBA Top Shot belongs to a play by star LeBron James, sold for more than $ 200,000. However, a card from Portuguese soccer player Cristiano Ronaldo broke that record among sports NFTs, CriptoNoticias reported in mid-March.

By: Jenson Nuñez

The cards will allow HUT 8 to mine cryptocurrencies on alternative blockchain networks. Thanks to the purchase, NVIDIA achieves revenue that estimates more than 60%.

HUT 8, one of the largest and oldest mining companies in bitcoin mining, announced on Friday, March 26, the acquisition of NVIDIA CMP (Crypto Mining Processor) graphics cards. With this acquisition, the company intends to skyrocket its hash rate of 1,600 GH / s and venture into Ethereum cryptocurrency mining.

The HUT 8 announcement appeared through a press release, where the company confirmed the purchase of the new NVIDIA CMP graphics cards, launched in February this year, for USD 30 million. However, he did not specify how many they were or what models they are.

According to the statement, the cards, created especially to mine ether (ETH), will arrive at HUT 8 next May and be fully implemented this summer (July-August 2021).

The company, based in Canada, expects that with this acquisition, its mining capacity of 1,073 PH / s will add 1,600 GH / s. At the same time, it will use graphics cards to mine cryptocurrencies on alternative blockchain networks.

In this way, users will mine bitcoin, but they will also mine ethers and other cryptocurrencies from now on; all this, while maintaining your profits with the bitcoin business.

HUT 8 also expects, with this new acquisition, to have more chances to pursue high-performance computing applications that allow it to diversify revenues in its business and drive long and medium-term growth within the fiscal year 2021.

Regarding the acquisition of the cards and their uses within the company, Jaime Leverton, CEO of HUT 8, expressed the following:

“We are incredibly excited to have these high-performance CMPs in our fleet. We believe that mining with CMP will open up new opportunities for HUT 8 and allow us to continue executing our long-term and short-term plans to increase and diversify revenue streams.”

Likewise, NVIDIA obtains a revenue 60% above what it is traditional to earn with the NVIDIA CMP cards in this first quarter with this purchase.

Collette Kress, NVIDIA Chief Financial Officer, said:

“For the first quarter, we estimate that NVIDIA CMP graphics will bring in approximately $ 50 million in revenue. We plan to sell these products to minors. We will quantify your contribution each quarter for the sake of transparency.”

Collette Kress, NVIDIA Chief Financial Officer.

This recent investment is not the first time this year that this company does, because, at the beginning of the year, the company requested a loan of USD 12 million to buy 5,400 units of MicroBT miners, Whatsminer M30, thus increasing by 475 Additional PH / s bitcoin processing capacity.

By: Jenson Nuñez

US users who hold cryptocurrencies in PayPal digital wallets will now be able to convert their holdings into fiat currencies to make purchases, Reuters said.

PayPal Holdings Inc has begun allowing US users to apply their cryptocurrency holdings to pay at millions of its online merchants on a global scale, a move that could significantly impulse the use of digital assets in day-to-day trading. Reuters from London exclusively reported this information.

In February, this possibility was sounding among users, but it is a reality today. The agency reported that customers holding Bitcoin, Ether, and Litecoin in PayPal digital wallets will now be able to turn their holdings into fiat currencies to make purchases, the company said.

Until now, this was not possible; users could only buy Crypto by Paypal but not do anything with them.

Paypal Doesn’t Allow Users to Buy Cryptocurrencies

The service, which PayPal highlighted it was working on at the end of last year, will gran complete access to the public to all of its 29 million merchants. The company told recently to the media outlet:

“This is the first time that you can seamlessly use cryptocurrency in the same way as a credit card or debit card within your PayPal wallet,” President and CEO Dan Schulman told Reuters before making his formal announcement.

Checkout with Crypto relies on PayPal users’ ability to buy, sell, and even hold cryptocurrencies, which the San Jose, California-based payment company launched in October.

The offering turned PayPal into one of the largest financial companies that open its network to cryptocurrencies and fuel a rally in virtual currency prices. PayPal’s launch comes less than a week after Tesla Inc announced it would also start accepting bitcoin payments for its products.

However, unlike PayPal transactions where merchants will receive fiat currency, Tesla said it would keep Bitcoin active as payment.

While the new asset is gaining traction among major investors, it still has a long road to walk to become a mainstream payment form due to its constant volatility. Reuters says that PayPal hopes its service can create a significant change; by settling the fiat currency transaction, merchants will not have to face the risk of volatility.

“We believe it is a transition point where cryptocurrencies go from being predominantly an asset class that you buy, hold or sell to now become a legitimate source of funding for real-world transactions with millions of merchants,” he said Schulman.

The company will not charge any transaction fees to pay with cryptocurrencies, and only one type of currency can be active for each purchase.

The news created a significant impact on the price of cryptocurrencies. Bitcoin’s price is now pretty close to USD 59,000, 1.55% more than yesterday at the same time. Meanwhile, Ethereum caressed 4.08%, Litecoin 0.26%, and Bitcoin Cash 1.56%.

By: Jenson Nuñez