Author Archives: Jan Przelozny

Bitcoin could nearly double and reach $5,000USD soon, says Standpoint Research

Stock research analyst Ronnie Moas said he bought bitcoin this weekend and thinks it could reach $5,000USD within a year.

“$5,000USD could happen in a few months. It’s only starting to gain traction right now,” Moas, founder of Standpoint Research, told CNBC in a phone interview Wednesday. “It’s starting to spread like wildfire right now.”

He pointed out that since only 21 million bitcoin can ever exist, increasing demand for the digital currency will naturally drive its price up.The research analyst’s view on Bitcoin joins the optimistic views of others on Wall Street. On Sunday, Goldman Sachs’ technical analyst Sheba Jafari said in a note that bitcoin could rise as high as $3,915USD.

“In the next 6 to 12 months you’re going to have a little bit of a hysteria,” Moas said. However, “this has a long, long way to go before it gets to bubble territory.”

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United Nations Sends Aid to 10,000 Syrian Refugees Using Ethereum Blockchain

One of the largest-ever implementations of the Ethereum Blockchain for a charitable cause has just concluded a successful trial.
Completed on 31st May, the project run by the United Nation’s World Food Programme (WFP) was designed to direct resources to thousands of Syrian refugees by giving them cryptocurrency-based vouchers that could be redeemed in participating markets.
Alexandra Alden, a WFP innovation accelerator consultant who helped oversee the implementation, told CoinDesk:
“All funds received by the refuges from WFP were specifically used to purchase food items such as olive oil, pasta and lentils.”
The WFP intends to expand the project to include 100,000 individuals in Jordan as soon as August. If that goes according to plan, the effort is set to grow to serve the entire Jordanian refugee population by the end of 2018.
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US State of Montana Shows Support for Bitcoin by Funding Local Bitcoin Miner With $416,000 Grant

As part of its efforts to boost local employment, the state has recently allocated public funds to help with a local Bitcoin mining firm project, according to the press release from the Office of Montana Governor, Steve Bullock. Bitcoin is perceived as a long-term opportunity for job seekers and Montana is one of the first states in the USA that officially supports the potential of it.

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Vladimir Putin and Vitalik Buterin Discuss Ethereum ‘Opportunities’

The president of Russia briefly met with Ethereum inventor Vitalik Buterin during an event last week.

The meeting between Buterin and president Vladimir Putin occurred at the St. Petersburg International Economic Forum, which took place between 1st and 3rd June, following an address to a global group of chief executives.

According to the brief statement released on Friday by the Kremlin:

“Mr. Buterin described the opportunities for using the technologies he developed in Russia. The President supported the idea of establishing ties with possible Russian partners.”

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Bitcoin Price Shoots Past $2,900USD to Hit New All-Time High

The price of Bitcoin has hit a new all-time high, according to the CoinDesk Bitcoin Price Index (BPI).
The market average has risen to as high as $2,911.86USD as of press time, BPI data shows, surpassing the previous all-time high of $2,791.69USD set on 25th May.
Bitcoin prices began the month below $2,500USD, according to the BPI, trading as low as $2,330.23USD on 1st June. Markets climbed above the $2,700USD mark for the first time this month yesterday, rising steadily during Monday’s trading session.
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Bitcoin could hit $100,000 in 10 years

Bitcoin could hit $100,000 in 10 years, says an analyst who correctly called its $2,000 price this year

Bitcoin could make up 10 percent of the $5 trillion average daily volume in the foreign exchange market in 10 years, according to Saxo Bank analyst Kay Van-Petersen. Its market capitalization could grow to $1.75 trillion which would make each Bitcoin worth $100,000.

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