El Salvador President Nayib Bukele explained to Peter Schiff why it didn’t make sense to criticize his country for continuing to take advantage of dips in the Bitcoin price. Schiff is the CEO of Euro Pacific Capital, a full-service, registered broker/dealer specializing in foreign markets and securities, and founder and Chairman of SchiffGold. The bill to make Bitcoin legal tender in El Salvador got passed by the Legislative Assembly on June 9 and the Bitcoin Law became effective on September 7. El Salvador’s President, Fausto Bukele, responded to Schiff’s attack on his nation’s gold reserves by pointing out that the value of their gold reserves has gone down by 0.37% over the past one year. The last time El Salvador bought Bitcoin was on October 27/28, and if they had done so back then, the price would be around $204 million.
Borderless Capital has launched a $500 million fund investing in digital assets powering the next generation of decentralized applications on top of Algorand (ALGO). The Miami-based company started its first Alogorand-focused fund in June 2019. It initially raised $200 million and invested in more than 100 companies, including BlockDaemon, Six Clovers and Osprey Funds. “There is a huge room to grow from here,” David Garcia, Borderless Capital’s founding managing partner said. Borderless Capital has announced a new fund that will invest in the Algorand ecosystem specifically for products involving DeFi liquidity mining, yield farming, lending, borrowing and trading
The firm will be announcing specific investments of the new fund in the coming months. SkyBridge Capital and NAX revealed a partnership in September to offer decentralized applications and institutional investment opportunities that will be part of the initiative using Algorand.
According to a popular crypto analyst Avalanche has still more room to grow. He says he’s still bullish on the smart contract platform and said it has more room to grow up to more than 280 USD. He’s comparing the movement of Avalanche to Solana’s parabolic move.
Also quoted from the crypto analyst “If the $SOL (Solana) run is anything to go by, then $AVAX (Avalanche) should have plenty of gas left in the tank.”.
Zooming in the crypto analyst chart, seems he plotted that it will go up to 280 USD with a potential of 110% from its current price 128-133 USD.
At the time of the writing the price of Avalanche still swinging from 120-140 USD with an ATR (Average True Range) of 4.2.
Stay updated always in the crypto space!