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Bitcoin IRA Plans to Reach $1 Bln in Investments After Halvening

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  • Alex Dovbnya
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    Chris Kline, the COO of Bitcoin IRA, expects 2020 to be a big year for his company and the crypto industry in general

Bitcoin IRA Plans to Reach $1 Bln in Investments After Halvening
Cover image via 123rf.com
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Bitcoin IRA, the first company that allows its customers to purchase Bitcoin for their retirement accounts, expects to have more than $1 bln in investments, according the recent interview with the company's COO Chris Kline. As of now, the company has $350 mln in its coffers.       

Kline states that the rollout of their new products will coincide with the halvening event and the launch of Facebook's Libra, which will allow them to reach the above-mentioned target. 

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Staying away from altcoins

As of now, Bitcoin IRA doesn't support too many coins with Bitcoin and top altcoins being its only options. Kline claims that they have a "conservative approach" to adding new digital assets out of fear for scam projects.    

We don’t want to offer smaller coins that may later be determined to be a scam, lose liquidity or have significant concerns by government regulators in the future. 

Kline remains skeptical of hordes of altcoins, but he had some nice words to say about Libra, claiming that could be a major disruptive force in the global commerce.   

While it still needs to be vetted through regulators, expect it to create friction-less cross-border transactions at significantly lower fees for merchants and other participants

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A new frontier for DeFi

At the end of October, Bitcoin IRA started offering interest on digital assets holding after forming a partnership with Genesis Capital. As reported by U.Today, Genesis Capital netted $870 mln in new originations during the third quarter, which highlights the booming crypto lending sector.  

Bitcoin IRA offering interest-earning accounts is seen as a new step for the development of the burgeoning decentralized finance (DeFi) ecosystem.

“We’re excited about our launch of interest-earning accounts which are rolling out now to select groups of our customers. This is an industry first for retirement accounts and a major benefit to our clients." 

 
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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls

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  • Alex Dovbnya
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    The Bitcoin price could soon touch $7,800 if bulls persist, but this move could be a short-lived one

Bitcoin Price Predicted to "Rocket Up." $7,400 Level Reclaimed by Bulls
Cover image via u.today

Popular crypto trader Wendy O recently predicted that the price of Bitcoin would "rocket up" if it managed to surge above the $7,400 level. 

Bitcoin Price
image by @CryptoWendyO

Shortly after that, the BTC price did rise above the aforementioned level, currently sitting at $7,444, according to CoinStats data

Bitcoin Price
image by coinstats.app

If the aforementioned forecast turns out to be accurate, Bitcoin traders could soon see another fakeout, which would be similar to the one that took place on Dec. 4. As reported by U.Today, BTC printed a massive green candle in less than a minute, but this unexpected pump quickly evaporated.     

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Earlier today, multiple traders predicted that Bitcoin was about to make a big move in either direction, but $7,800 seems to be the main area of interest for them. The leading cryptocurrency hasn't touch this level since Nov. 30. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with an extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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