Billionaire Bitcoin and Crypto Investors Double Down on Cryptocurrencies Despite Price Slump
LOS ANGELES, April 16, 2019 /PRNewswire/ -- USA News Group – Bitcoin's 15-month slump hasn't dissuaded many billionaire investors who were made wealthy by the leading cryptocurrency. Bold predictions, including someday matching the global value of gold, add confidence to the crypto markets, and to companies advocating and advancing the crypto adoption, including NetCents Technology Inc. (CSE:NC) (OTC:NTTCF), Mastercard Incorporated (NYSE: MA), Visa Inc. (NYSE:V), Square, Inc. (NYSE:SQ) and even JPMorgan Chase & Co. (NYSE:JPM).
Brendan Blumer, CEO of Block.one, recently tweeted: "Over the next two decades, #Bitcoin will replace #gold as the leading commodity to store value." However, for Blumer's bold prediction to come true, Bitcoin's price will have to rise more than 82x its present value. In order to match gold's global market value of $7 trillion, each bitcoin would have to be worth approximately $333,000.
Before such a replacement can possibly take place, a rise in transactions and usage is needed. This push grows with each new merchant that accepts payment from new crypto-friendly payment platforms such as the Cash App from Square, Inc. (NYSE:SQ), or NetCents from NetCents Technology Inc. (CSE:NC) (OTC:NTTCF) — NetCents alone currently supports 55 countries, 36 fiat currencies, and services over 3 million merchants.
Of the more than 2,100 recognized cryptocurrencies being traded on over 16,000 markets (as of March 18, 2019), the current market cap of the cryptocurrency market is nearly $140 billion—with more than $31.5 billion in volume is being traded daily. Bitcoin is still the biggest dominant player, which is worth more than half of the entire market at 50.8%.
Moving forward, cryptocurrency cross pollination with traditional fiat currencies will be required. This is where platforms such as NetCents excels, especially its proprietary cryptocurrency credit card that pulls directly from the user's NetCents wallet.
NetCents Technology Inc. (NC) (NTTCF) recently even branched out into the possibility of equities trading through blockchain/crypto technology. Through an agreement with ILO Crypto (ILOCX). ILOCX's platform allows companies to raise non-equity capital through the sale of Initial License Offerings ("ILOs"), which are a revenue-based method to raise capital, promote and sell products and services, and to receive royalties based on a company's gross revenue.
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