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Apple, Netflix Stocks and Other Traditional Assets Can Now Be Bought with $5 Worth of Bitcoin

  • Alex Morris
    📰 News

    Abra is lassoing traditional financial assets in an attempt to democratize investing on a global scale


Apple, Netflix Stocks and Other Traditional Assets Can Now Be Bought with $5 Worth of Bitcoin
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Abra, a crypto-oriented startup that simultaneously operates as a multicoin crypto wallet and exchange app, has just made an announcement about the rollout of a new feature that will let its users invest in traditional assets (stocks, commodities, ETFs, etc.) with the help of Bitcoin. Subsequently, Abra will serve as a gateway for investors from more than 50 countries who aren’t able to open a brokerage account in the US.

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Opening the market for global investors

With Abra, users who are shut out of the traditional stock market will get the possibility to purchase FANG stocks or opt for shares of ETFs (all in all, they offer around 50 assets to choose from). While such feature has been already implemented by other companies, the scope of its offering definitely blows its competitors out of the water.

Those who sign up to get early access will enjoy zero trading fees for the rest of this year. Moreover, uninitiated users who are only dipping their toes into the industry can start investing with as little as $5.

Opening the market for global investors
 

Making investing simpler

Even though Abra is marketing its app as beginner-friendly, indirect ownership of stocks definitely has its caveats. For instance, if you want to invest $1,000 in Facebook stocks, your investment will be pegged to Bitcoin. Abra makes revenue by charging a spread between the lowest and the highest prices of a certain asset.

It should be noted that Abra, a first-of-its-kind smart contract investment platform, stores funds on the Bitcoin blockchain. That essentially means Abra doesn’t act as a custodian, and its users don’t have to worry about their funds’ safety.

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Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader


Bitcoin's April 2 Breakout Was Reportedly Orchestrated by One Trader
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It’s been over two weeks since Bitcoin’s astronomical surge on Apr. 2, but new theories about what might have caused this bullish uptick continue to pop up. According to crypto-oriented analytical firm CoinMetrics, that epic surge was causes by a single trader.

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Mammoth-size trades

CoinMetrics claims that ‘a single committed trader’ concocted a plan to push the BTC price, and he successfully managed to do that by picking the time of the day when the global liquidity is at its lowest level.


(Source: CoinMetrics.io)

(Source: CoinMetrics.io)  

The report also suggests that the trader started to execute his plan on HitBTC (500,000 USDT were traded for Bitcoin prior to the price movement). After that, large trades were observed on Coinbase and Bitfinex.      

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Focusing on the future

Meanwhile, as reported by U.Today, another theory states that the rapid price surge was triggered by the expiration of the CME futures contracts and heavy spot and over-the-counter buying. One expert went as far as claiming that a simple April joke about the Securities Exchange Commission (SEC) could do the trick.

While no one is quite sure about what could have triggered the short-living rally, there is even a bigger disconnect when it comes to Bitcoin price predictions. While some share their bullish predictions for 2019, another report states that it could take 22 years for Bitcoin in order to match its current ATH of $20,000.

'Bitcoin symbol and graph.Vector illustration.' image by 123rf https://ru.123rf.com/photo_69329295_bitcoin-symbol-and-graph-vector-illustration-.html?term=bitcoin&vti=njv6v7w01tymanucm1-1-82
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