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Bitcoin Critic Says He Would Have Sold BTC Now If Bought In 2010

Mark Brennan
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Bitcoin Critic Says He Would Have Sold BTC Now If Bought In 2010

Bitcoin critic Peter Schiff has rattled the market with a statement in which he admitted that he’d be selling his BTC now, assuming he had bought the coin back in 2010.

Peter Schiff is one of the biggest Bitcoin critics who dishes negative comments about the premier digital currency. For the past decade, Peter Schiff has been advocating that buying Bitcoin is a doomsday move that every sane person should avoid like a plague.

Despite his belief that the price of Bitcoin still has a long way to go, he acknowledged recently on X in plain terms that he regretted not buying the coin.

Regret But Stance Remains the Same

Calling attention to the twisted narrative from the media, Peter Schiff noted that acknowledging his regret for not buying Bitcoin in 2010 was no news. He said that despite highlighting this fact, he has not changed his mind about Bitcoin.

He said even the top critics are regretting not buying Bitcoin. Peter Schiff pointed out that those who acquired the coin at the time wished they had bought more. This statement likely stems from the massive growth in the price of Bitcoin from 2010 to date.

As measured by crypto market data aggregator CoinMarketCap, Bitcoin’s price has jumped by more than 138,984,036.14% from July 14, 2010, when it traded at $0.04865 to its current price of $67,796.54.

Peter Schiff’s regret also stems from the growth of his favorite asset, Gold, which has been relatively mild from 2010 to date. According to data from Gold.co.uk, Gold has recorded a 166.50% growth over the past 15 years. The asset added over £1,063.32, moving from a low of £559.59 to its current price of £1,701.95 within that period.

Making up for Lost Opportunity

While Peter Schiff acknowledged missing the Bitcoin investment train, he has devised new means to get his hands on the digital currency.

The Bitcoin critic announced earlier this month that he had launched the Golden Triumph Ordinals set, a digital collectible he minted on the BTC network. He advised investors to divest the profit from their investment in Bitcoin following the explosion in price into the “real thing” – Gold.

Receiving Bitcoin payments for the Ordinals has also sparked key debate in the market but ultimately underscores BTC’s growing open interest and adoption.

Analyst Outlines Cardano Journey to $12.80

Mark Brennan
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Analyst Outlines Cardano Journey to $12.80

Cardano struggles to retake its previous highs could be shortlived, with one analyst outlining the coin’s path to a double-digit price.

A number of leading cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and Binance Coin (BNB), have recovered close to their previous highs over the past few weeks. In contrast, Cardano remains a long way off, trading 77% below its 2021 peak of $3.10.

However, Dan Gambardello, a seasoned market analyst and founder of Crypto Captial Venture, does not expect Cardano’s underperformance to continue for long.

Instead, he predicts that Cardano’s rise to $0.8 is inbound and will provide a stepping stone for prices to double in the future gradually.

Forecasting what such increased prices will look like, Gambardello, who is a big Cardano supporter and an investor in the project’s ecosystem, noted that ADA could go as high as $12.80 if its price continues to double.

Cardano Must Clear $0.8 Hurdle to Aim Higher

Evidently, any journey into the adventurous price levels for Cardano must begin with the cryptocurrency clearing the crucial $0.80 price level. Cardano last traded above $0.8 in February 2022, roughly two months before the infamous Terra (LUNA) collapse that crashed the crypto market.

Since then, ADA has traded well below that price level. The latest market rally pushed ADA close to $0.76, but it faced resistance. If Cardano finally breaks the $0.8 resistance, such a move could set the stage for a higher push.

Among these predictions, analysts expect Cardano to reach between $1.5 and $3, mirroring a performance similar to the last bull market. Others forecast prices as high as $10 by the end of the current bull run, with ADA gaining more than 300% of its previous all-time high.

There are no guarantees that the projected prices will be realized. However, a combination of several experienced analysts predicting a surge in Cardano’s price might bode well for its future, both in the short and long term.

Big Movement As 1,241,388,159,690 Shiba Inu Moves to Exchanges

Sam Wisdom Raphael
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Big Movement As 1,241,388,159,690 Shiba Inu Moves to Exchanges

A large Shiba Inu (SHIB) whale address has moved over 1.24 trillion tokens to crypto exchanges Gate.io and Binance, sparking selloff concerns.

The latest market bloodbath has triggered a Shiba Inu collapse below the $0.00003 territory, causing the crypto asset to hit a low last witnessed at the time it recorded a crash on March 5. SHIB has now slumped by 13.15% over the past 24 hours.

Whale Moves 1.24T Shiba Inu to Exchanges

As the downtrend persists, on-chain data reveals a series of fund movements that have compounded the widespread market panic. Whale tracking resource Whale Alert recently called attention to a substantial exchange inflow involving Shiba Inu.

Notably, Whale Alert disclosed that an unidentified wallet moved 1 trillion SHIB worth a whopping $28.84 million in a single transaction to crypto trading platform Gate.io. Data from Etherscan indicates that the transaction occurred today at 09:38 (UTC).

Interestingly, the transaction coincided with a sharp drop in Shiba Inu’s price, as the asset summarily crashed to a low of $0.00002700 at the 09:00 hour before eventually recovering. After the drop, SHIB reclaimed the $0.000029 territory but has since failed to touch $0.00003.

Past SHIB Movements

Data shows that the whale first received the tokens from Binance and Gate.io in January. Notably, this address procured 546 billion SHIB from Binance on Jan. 8, and then received over 895 billion tokens from Gate.io across multiple transactions from Jan. 9 to 18.

During the time of these transactions, Shiba Inu was still battling to recover the $0.00001 territory, consolidating between $0.00008 and $0.00009. The address continued to hold onto the tokens until Feb. 7, when it sent 500 billion SHIB to Gate.io by routing it through another wallet.

It procured 300 billion SHIB again from Binance and Gate.io in February shortly after the 500 billion outflow. The whale desisted from taking out any more tokens until today. Notably, before the 1 trillion outflow today, the wallet moved 241 billion tokens to Binance two minutes prior.

Following these transactions, the address now holds no Shiba Inu tokens, with a balance of 0.19 ETH. As investors typically move their assets to exchanges when it’s time to sell them off, these transactions have triggered concerns of an increase in selling pressure on SHIB.

Meanwhile, Shiba Inu currently trades for $0.00002851, still retaining a 127% increase this month. Despite the recent market collapse, trading activity has been on the upside, with a 9% increase in volume over the past 24 hours to $2.57 billion.

Here is a Projected Timeline for XRP to Hit $500+

Sam Wisdom Raphael
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Here is a Projected Timeline for XRP to Hit $500+

XRP still struggles to reclaim and retain the $0.65 territory, but predictions of lofty targets above $500 remain prevalent, with several entities projecting a timeline for the attainment of this price.

XRP had some minor price gains in the ongoing mini-bull run, but the cryptocurrency has largely underperformed in comparison to others. Despite XRP’s inability to engineer a full-blown price upsurge, analysts have continued to set ambitious price targets with the $500+ zone in view.

Changelly Projects When XRP Could Hit $500+

Changelly noted that XRP’s sentiments remain bullish despite the underperformance, with a fear and greed index (FGI) of 81, indicating extreme greed. Moreover, with a volatility of 6.80%, XRP has recorded twenty bullish days over the past 30 days, seeing a win rate of 67%.

The analysts at Changelly expect XRP to clinch a high of $0.7804 in the next seven days. However, they believe the crypto asset would retrace to end this month at $0.7310, essentially 17.79% above its current price.

For the lofty targets, Changelly analysts believe 2040 is the year for XRP. According to their projections, the asset would grow from $67 to a maximum price of $629 in 2040. They believe XRP would clinch the $500+ target in October 2040, predicting a maximum price of $529 for the month.

XRP Price Prediction Changelly
XRP Price Prediction | Changelly

Bard Expects XRP to Hit $500+ in 2027

To get a second opinion, we asked Google Bard (now Gemini) what it thinks about XRP reaching the $500+ level. Bard suggested a timeline of 2027 for XRP to reach $500+.

XRP Price Prediction Google Bard
XRP Price Prediction | Google Bard

Nonetheless, Bard highlighted some challenges that could prevent XRP from hitting the price, one of which is its current market cap. Hitting $500 would bring XRP’s market cap to $27.3 trillion, much higher than the current global crypto market valuation of $2.6 trillion and the market cap of gold ($14.6 trillion).

The second challenge is the competition from other assets in the cross-border payments scene, such as Stellar (XLM). For this, some pundits have argued that XLM and XRP are not competing technologies. Bard also cited regulatory uncertainty as another challenge for XRP.

El Salvador Creates First Bitcoin “Piggy Bank” For Long-Term Storage

Mark Brennan
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El Salvador Creates First Bitcoin “Piggy Bank” For Long-Term Storage

El Salvador President Nayib Bukele says the country has sent a huge chunk of its Bitcoin (BTC) stash to a cold wallet reserved in its territory.

Sending Bitcoin to a cold wallet is symbolic of plans to explore tighter security storage means and, in most cases, for longer-term storage. The El Salvador leader highlighted how the whole investment might not mean so much but noted that it is “honest work.”

Notably, Nayib Bukele did not disclose the exact cold wallet storage the Bitcoin units were sent to, but the community on X has applauded the display of transparency.

El Salvador is Neck Deeper into Bitcoin

El Salvador legalized Bitcoin as a legal tender in September 2021. Since then, the Central American country has maintained a Bitcoin investment strategy, holding unto this strategy to date. 

As the major brain behind the Bitcoin strategy, Nayib Bukele’s revelation shows a deeper dive into its BTC ownership. He revealed that the wallet with the address tag “32ixEdV….wnqzo” received a total of 5,689.68 BTC. The wallet’s balance in dollar terms comes in at $406,607,665 at the time of the disclosure.

Nayib Bukele also noted that the country has transferred the cold wallet to a physical vault inside the national territory. He called this arrangement El Salvador’s first Bitcoin Piggy Bank. At the time it legalized the coin, El Salvador explored the creation of the Chivo wallet, a move that shows the country’s readiness to innovate in its Bitcoin adoption journey.

Notable Discrepancy

The total Bitcoin sent to the cold storage shows a very unique difference from the total coin profiled by the Nayib Tracker platform. This analytics platform pegs El Salvador’s Bitcoin stash at 2,864 BTC, worth about $195,243,061

The wallet sent to the cold storage is more than double this figure, leaving a speculative projection that El Salvador’s geothermal Bitcoin mining venture is contributing to the country’s overall stash. 

Nayib Bukele shared the results of the first geothermal Bitcoin mining venture in October 2021. Current figures suggest El Salvador has added more BTC despite not making any official acquisition since the 484 Bitcoin it acquired on November 22, 2022, per Nayib Bukele tracker. This leaves mining as the potential source of the difference of more than 2825 BTC.

XRP Ledger Foundation Welcomes Three New Validators As it Restructures its UNL

Abdulkarim Abdulwahab
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XRP Ledger Foundation Welcomes Three New Validators As it Restructures its UNL

The XRP Ledger Foundation (XRPLF) has welcomed three new validators to its published Unique Node List (UNL). 

The XRPLF team announced the new additions via a Thursday statement on its official X account. While welcoming the three new validators, the foundation delisted three existing ones due to subpar performance. Accordingly, the XRPL ecosystem retains a UNL validator size of 35.

 

The New Validators

The newly added XRPL validators include Ekiserrepe.es, XRPKuwait.com, and onXRP.com. Ekiserrepe is a Spanish-based NFT collection project on the XRP Ledger, recognized for its active contribution to the XRP ecosystem. 

Similarly, onXRP is an NFT-focused project on XRPL, which secures a spot as one of the ecosystem’s leading marketplaces. XRPLF highlighted that the project has demonstrated an unwavering commitment to operating high-quality infrastructure for XRP.

On the other hand, XRPKuwait is a dedicated infrastructure operator on XRPL. Notably, XRPKuwait joining the dUNL expands the geographical coverage of the XRPL validator ecosystem.

Significantly, these new XRPL dUNL validators, along with the existing ones, are entrusted with voting on the future of the XRPL.

Community Reacts

The recent decision to welcome these infrastructure providers to the UNL validator sphere has sparked a flurry of appreciation from the XRP community. Wietse Wind, the founder of XRP wallet Xaman (formerly Xumm), was among the leading voices reacting to the development.

“It’s wonderful to see active, passionate community members being added — at the expense of those not participating enough,” Wind remarked.

Moreover, he emphasized that onXRP, XRPKuwait, and Ekiserrepe deserved the recognition, considering their immense contributions to the XRPL ecosystem.

 

Other prominent entities in the XRP community, including XRPLF advisor Scott Branson and the team at XRPL explorer XRPScan, have similarly congratulated the new members and attested to their dedication to the ecosystem.

Moreover, the newly inaugurated validators have expressed gratitude for the opportunity to join the XRPL dUNL validator roster.

“When I started my journey, I never expected to reach XRPLF UNL. Thank you from the bottom of my heart. My commitment to XRPL will continue and grow as much as possible.” Ekiserrepe remarked.

Rich Dad, Poor Dad Author Explains Why He Loves Bitcoin

Mark Brennan
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Rich Dad, Poor Dad Author Explains Why He Loves Bitcoin

The famous author and financial educator has explained his love for Bitcoin over gold and other precious metals.

Robert Kiyosaki, the renowned financial education activist, is publicly known for his admiration of Bitcoin as an asset class. Kiyosaki has even recommended that investors put in at least $500 in the leading cryptocurrency, predicting that its price would rise as high as $300,000 in the coming years.

However, in a more recent post, the famous author clarified why he is a big believer in Bitcoin over precious metals and other assets of similar profile in his portfolio. Robert Kiyosaki noted that while gold and silver may appreciate in value, their growth is limited by the discovery of new deposits of precious metals.

Kiyosaki clarified that he invests in gold and silver and owns mines for them. At the same time, he invests in oil and owns oil wells as an investment. Nonetheless, he argues that Bitcoin is a superior asset because of its fixed supply.

Even if Bitcoin’s price keeps going up, this does not increase the supply as there will only ever be 21 million coins issued, Kiyosaki reasoned with his 2.5 million followers on X (formerly Twitter). Evidently, most of his followers got the message, with a handful of comments highlighting that Bitcoin is a truly scarce asset and that designs such as the four-year halving cycles make it even more unique.

Robert Kiyosaki Remains a Firm Bitcoin Believer

Robert Kiyosaki’s latest comments on Bitcoin are not surprising for anyone who has followed the famed author in the past few years. Even when BTC began its infamous decline in 2022, Kiyosaki reminded his followers that crashes are typically the best time to get richer through Bitcoin.

On other occasions, Kiyosaki has criticized the U.S. Federal Reserve for devaluing the dollar. The renowned author urges his readers to save in Bitcoin as a hedge against the failing fiat currency.

Following Bitcoin’s most recent increase, Robert Kiyosaki pinpointed January to March as a golden window opportunity before a boom. He predicts that Bitcoin will rise to $500,000 by 2025, more than six times its current market value of around $67,000.

Shiba Inu Outperforms Floki Inu and Bonk in This Mertic

Lele Jima
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Shiba Inu Outperforms Floki Inu and Bonk in This Mertic

Shiba Inu ranks as the third meme coin with the most social interaction, outperforming other assets like Floki Inu and Bonk. 

Despite the massive bloodbath across the broader crypto market, meme-based cryptocurrencies have shown resilience in terms of social activity.

Shiba Inu Ranks Third in Social Interaction Leaderboard

Amid the ongoing market onslaught, Shiba Inu ranks among the top three meme-based cryptocurrencies by social interactions. According to data from Lunar Crush, a renowned social intelligence platform, Shiba Inu is the third meme coin with the most social interactions.

It bears mentioning that the social interaction metric considers an asset’s social media engagement across various platforms like X/Twitter, Reddit, and Discord. Per the data, Shiba Inu obtained a social interaction score of 8.15 million, which comprises social media likes, upvotes, retweets, and comments.

Shiba Inu’s 8.15 million social interaction score makes it the third meme coin in the category. It is only behind Pepe (PEPE) and Dogecoin (DOGE), which recorded social interaction scores of 32.84 million and 10.71 million, respectively.

However, Shiba Inu outperformed other meme coins, like Floki Inu (FLOKI), Bonk (BONK), Myro (MYRO), and Dogwifhat (DOGWIFHAT) in the ranking.

Per the data, FLOKI, BONK, MYRO, and DOGWIFHAT social interaction scores stood at 5.52 million, 5.35 million, 3.77 million, and 3.43 million, respectively.

Crypto Prices Plunge

The development comes on the heels of massive consolidation across the market. The prices of various crypto assets have plummeted heavily over the past day. For example, Bitcoin (BTC) is down 6.51% in 24 hours to $68,524, while Ethereum has staged a 5.27% decrease to $3,758 within the same timeframe.

The meme coin market has also not been spared in the ongoing onslaught. The total market cap in this category has plummeted to $59.42 billion, down 9.3% in the past day. Two of the biggest meme coins, Dogecoin and Shiba Inu, have lost 9.3% and 10.05% of their gains, respectively.

Shiba Inu, which spiked to around $0.000045 on March 5, is currently priced at $0.00003011.

New Updates Could Propel Shiba Inu For a Rally

In the meantime, Shiba Inu has received positive updates this week that could set the stage for a potential uptrend. As reported yesterday, crypto payments provider BitPay partnered with Transak to bolster Shiba Inu’s adoption. Under the partnership, BitPay customers in the United Kingdom and Europe can purchase up to $75,000 worth of Shiba Inu tokens in a single transaction.

Furthermore, Shiba Inu’s ecosystem partner, Unification, recently announced plans to support SHIB as a payment option on the public beta version of its node service, UNoDE.

Also, the leading crypto exchange, Crypto.com, took to two of the leading mobile app stores, Google Play and Apple’s App Store, to promote Shiba Inu. These updates could position Shiba Inu for a potential rally when the market stabilizes from the ongoing consolidation.

Here Are Shiba Inu Wallets at Break Even As SHIB Drop to $0.000030

Sam Wisdom Raphael
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Here Are Shiba Inu Wallets at Break Even As SHIB Drop to $0.000030

The latest Shiba Inu collapse to the lower spectrum of the $0.000030 territory now leaves over 170,000 addresses who purchased 86.8 trillion SHIB at break even.

The crypto market is currently witnessing a retracement that has triggered widespread turbulence across the board. Due to the market-wide downturn, the global crypto market cap has fallen by a massive 5.94% over the past day.

Notably, Bitcoin (BTC) has slipped below the $70,000 and $69,000 levels in a 6.82% crash in the last 24 hours. Similarly, Ethereum has broken below $3,800, having dropped 5.87% within the same timeframe. Pepe (PEPE) has also slumped 13.35%.

SHIB Addresses at Breakeven Rise to 12%

Shiba Inu has not escaped this bloodbath, having collapsed 10.16% over the past 24 hours. This drop has impacted wallet address profitability, with addresses in profit seeing a discouraging decline.

IntoTheBlock (ITB) confirms this trend, showing a rise in addresses holding Shiba Inu at a break even point and another increase in those holding at a loss amid the drop in profitability. Per ITB data, Shiba Inu holders now at break even have increased to 12.81% of addresses. 

Shiba Inu Addresses at Break even IntoTheBlock
Shiba Inu Addresses at Break even | IntoTheBlock

It bears mentioning that this rate was 4% as of March 6, when Shiba Inu traded above the $0.000034 territory, as reported by The Crypto Basic. The latest figure suggests that addresses at break even have surged by a massive 220% on the back of the recent market correction.

This 12.81% rate represents about 170,810 addresses, data from ITB shows. Interestingly, these wallets procured 86.81 trillion Shiba Inu tokens between the prices of $0.000028 and $0.000036, with the average cost price sitting at $0.000032.

Shiba Inu Investors Turn to HODLing

Should these investors choose to liquidate their balances, most of them would recover their initial investments. However, the current market sentiments suggest that this might not occur, as proponents have continued to project higher prices for SHIB, including $0.01.

For instance, most of these addresses chose not to sell off their assets even when Shiba Inu shot up to the cycle peak of $0.00004567 on March 5 despite seeing profit on their holdings. This HODL culture emanated from optimism that SHIB could hit higher grounds. 

However, with the latest price collapse, some of these addresses have now slipped to losses with most currently at break even. As a result, addresses at loss have now increased to 270,210, representing 20.27% of the total Shiba Inu holders. This rate was 12% as of March 6.

In addition, up to 66.92% of wallets, amounting to 892,010 addresses, are currently seeing profits, down from the 84% on March 6. Meanwhile, Shiba Inu currently trades for $0.00003017, recording an 8.19% collapse on the weekly timeframe.

XRP Non-Security Status Acknowledged by European Corporate Governance Institute

Abdulkarim Abdulwahab
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XRP Non-Security Status Acknowledged by European Corporate Governance Institute

The European Corporate Governance Institute (ECGI) has published a fresh research paper acknowledging the non-security status of XRP as ruled by a U.S. federal court last year.

This recognition came in a study titled “Corporate Governance Meets Data and Technology,” authored by two university scholars: Wei Jiang of Emory University and Tao Li of the University of Florida.

Notably, these scholars cited Ripple and XRP in the context of regulatory concerns surrounding token offerings, particularly regarding securities regulations and token classification.

A prominent XRP community figure using the pseudonym “WrathofKahneman” spotlighted the research in an update.

 

ECGI Affirming XRP Non-Security Status

First, the report discussed how the fundraising landscape in blockchain-based startups has evolved with token offerings. It includes fundraising moves via initial coin offerings (ICOs), initial exchange offerings (IEOs), and security token offerings (STOs).

In parallel, the report highlighted the regulatory scrutiny these fundraising methods face, particularly concerning the classification of issued tokens.

The concern stems from the regulatory arguments that certain issued tokens might be categorized as securities. Proponents believe such categorization requires the issued tokens to adhere to securities issuance laws and regulations.

The university scholars called attention to the U.S. SEC’s lawsuit against Ripple Labs as a case study. In particular, the SEC contested that XRP is a security, alleging that Ripple’s XRP sales violated U.S. securities laws.

Meanwhile, the researchers pointed out that XRP was vindicated by the U.S. court on July 13, 2023. Specifically, XRP was not considered a security when sold to the public on an exchange. However, it was classified as a security when sold directly to institutional investors.

Notably, this recognition is significant within the broader discussion of token offerings and regulatory compliance, as it provides a specific example of how regulatory authorities approach the classification of cryptocurrencies like XRP.

Meanwhile, in response to the research, legal expert Bill Morgan provided more context to clarify XRP’s position. Morgan stated that XRP itself “is never a security.” However, he noted that XRP may be involved in transactions or schemes that are considered securities.

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