Study reveals 27% of UK male millennials prefer Bitcoin over real estate
UK based real estate developer Get Living conducted a study and found out 27% of the male millennials in the nation would prefer to invest in Bitcoin rather than real estate.
According to real estate developer Get Living, part of the reason the particular demographic saw Bitcoin as a more attractive investment was the fact that millennials hold the view that the flagship cryptocurrency possesses a higher potential of appreciating compared to real estate.
It was said that millennials see the “soaring performance of Bitcoin – followed by an almost equally profound correction – [and it] holds more intrigue than the prospect of steady growth in house prices”.
Union Square Ventures makes long term investment in crypto and blockchain
New York Union Square Ventures has big plans to profit on a potential trillion-dollar business in blockchain and crypto in 10 years.
Albert Wenger, managing partner at Union Square Ventures said:
“We see a lot of upside… Investors are rationally pouring a lot of money into this sector, because I think people are seeing the winning blockchain here might be worth a trillion, or a couple of trillion dollars, It’s not at all crazy to think that.”
Wenger echoed Apple co-founder Steve Wozniak, who said this week that blockchain could be a bubble, with companies going belly-up at the same rate as the dot-com era. But he said that risk could pay off for investors who get in early, and spread their bets.
“Certainly, for any one particular project there’s an extremely high chance it won’t work,” Wenger said. “As a result, if it works, the rewards will be very high.”
$1B enters crypto market in past 24 hours
The marketcap for cryptocurrency gained $20 billion in value over the last 24 hours, going from $233 billion on Friday to $256 billion today.
Thomas Lee, head of research at Fundstrat Financial recently said for every dollar entering or exiting crypto, there is a $20-$25 impact on crypto market value, indicating a billion dollars entered crypto in the past 24 hours.
SEC votes to ease ETF regulation
US securities regulator, the SEC, voted unanimously to propose easing its rules for approving low risk exchange traded funds in what could potentially be a major win for the $3.5 trillion market.
If implemented, the rule would allow companies that sell ETFs to launch plain vanilla versions without first seeking approval from the regulator. The SEC said it hopes the rule change will boost competition and innovation by lowering the barriers to entry.
The rule change is subject to feedback from the industry.
Currently, ETF issuers must get SEC permission, known as exemptive relief, before selling funds under the Investment Company Act of 1940.
Commissioner Kara Stein said:
“The rule would include many of the website disclosure requirements that are in existing orders such as disclosing the ETFs current net asset value per share, market price, and premium or discount – each as of the prior business day.”