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TheWorldNewsOrg

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Posts posted by TheWorldNewsOrg

  1. I don’t think people understand how fast you get poor with 5% inflation (“official” #). It is financially devastating. Also, inflation isn’t 5%.

    I see tons of things going up 20% year over year.

    I REALLY don’t think people understand how fast they get poor at 20% inflation.

  2. $2.2 Trillion Asset Manager Pimco Looking to Trade Cryptocurrencies, CIO Says

    Pimco’s chief investment officer, Daniel Ivascyn, told CNBC in an interview Wednesday that his company is looking to trade digital assets, noting that some of its hedge fund portfolios are already investing in crypto-linked securities.

    Pimco, an asset management subsidiary of Allianz Group, is a global leader in fixed income, its website details. Pimco manages $2.2 trillion in assets as of June 30. Its clients include central banks, sovereign wealth funds, public and private pension funds, financial and non-financial corporations, foundations and endowments, financial advisors, family offices, and individual investors.

    Ivascyn said:

    Now we’re looking at potentially trading certain cryptocurrencies as part of our trend-following strategies or quant-oriented strategies, then doing more work on the fundamental side.

    “This will be a gradual process where we spend a lot of time on the internal diligence side speaking to investors. And, we’ll take baby steps in an area that’s rapidly growing,” he added.

  3. Robinhood CEO Vlad Tenev said that more than 1 million people have signed up for its crypto wallet waitlist, with the new feature finally enabling users to send and receive crypto from the platform.

    and...

     

     

  4. Hilarious that Worldcoin is just an ERC-20 token. It touts itself as a "fairly launched" coin but requires one of the most premined cantillon altcoins -- ETH -- in order to use it? It makes zero sense. It's just more money printing.

    It's also premined itself. Founders keep 20% "for development".

    Would you take a retina scan for free Worldcoin? 130,000 people and counting have so far

  5. If you’re a shareholder in a publicly traded business & they don’t have bitcoin on their balance sheet, it is time to start demanding it. They are complicit in the destruction of shareholder value as long as we have persistently high inflation.

     

    Public companies have a fiduciary responsibility to protect and grow shareholder value. Sitting in 100% cash and cash equivalents with high levels of inflation is a violation of their mandate.

  6. “My sort of theory on Satoshi’s identity was that Satoshi was on that beach in Anguilla,” Thiel is quoted as saying. “I met them on the beach in Anguilla in February of 2000. We were beginning the revolution against the central banks on the beach in Anguilla. We were going to make Paypal interoperable with E-Gold and blow up all the central banks.”

    Thiel said there were around 200 people at that initial meeting. “Bitcoin was the answer to E-Gold, and Satoshi learned that you had to be anonymous and you had to not have a company,” Thiel said. “Even a company, even a corporate form was too governmentally linked,” the tech billionaire said.

  7. Bitcoin Futures ETFs Take Center Stage

    Futures-based ETFs have stepped into the limelight this month after SEC Chair Gary Gensler signaled his support for Bitcoin-futures-based ETFs at the Aspen Security Forum on August 3rd. 

    According to Gensler, the laws under which ETFs operate provide investors with significant protections, all the more important in the largely unregulated and historically volatile crypto space. 

    Gensler said in his remarks that large parts of the crypto space are operating outside of regulatory frameworks, going on to say that this position is likely unsustainable. 

    “For those who want to encourage innovations in crypto, I’d like to note that financial innovations throughout history don’t long thrive outside of our public policy frameworks,” Gensler said. 

  8. The Valkyrie Bitcoin Strategy ETF seeks to purchase enough Bitcoin futures contracts that the notional value of the Bitcoin within the contracts held by the fund are as close to 100% of the fund’s net assets as possible. 

    This distinguishes Valkyrie from the other proposed funds, all of which plan on investing in other investment vehicles and products that provide exposure to Bitcoin, such as private trusts. 

    The fund will invest any remaining assets in “collateral investments” defined as U.S. Government securities such as bills and bonds, money market funds, and corporate debt securities. 

    Corporate debt securities must be issued by a business with a time of purchase rating in one of the four highest categories of a nationally recognized statistical rating organization like S&P Global Ratings. The collateral investments are designed to provide liquidity. 

    The fund will invest indirectly via a wholly owned Cayman Islands subsidiary that will have the same investment objective, advisor, and sub-advisor. The fund will invest no more than 25% of its total assets each year. 

    The application lists Steven McClurg, Rafael Zayas, and Ryan Dofflemeyer as the fund’s portfolio managers. 

    The fund is classified as non-diversified and therefore not required to meet diversification requirements under the Investment Company Act of 1940. 

    The fund will not invest directly in Bitcoin.

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