In recent years, Bitcoin has experienced significant fluctuations, often moving in tandem with risk-on assets like stocks and commodities. However, a new perspective is emerging, particularly from financial experts at BlackRock Inc. (NYSE:BLK), who now see Bitcoin as more of a “risk-off” asset. As global economic conditions fluctuate, Bitcoin’s ability to provide a safe haven during turbulent times is gaining recognition, positioning it alongside traditional assets like gold.

Robbie Mitchnick, the head of digital assets at BlackRock, recently discussed this evolving viewpoint, arguing that Bitcoin’s core characteristics make it more aligned with risk-off investments. This shift in how Bitcoin is perceived has sparked interest among both retail and institutional investors looking for ways to protect their wealth amid market volatility.

The Concept of Risk-On vs. Risk-Off Assets

Before diving into why Bitcoin is increasingly viewed as a risk-off asset, it’s essential to understand the distinction between risk-on and risk-off investments. Risk-on assets, such as stocks, high-yield bonds, and commodities, generally perform well during periods of economic optimism and market growth. These assets tend to appreciate when investors are confident in the global economy and willing to take on additional risk.

Conversely, risk-off assets, like gold and government bonds, are favored during times of uncertainty or economic contraction. Investors turn to these assets when they anticipate instability in the markets, as they tend to retain value or even increase during periods of downturn. For many years, Bitcoin has been considered a highly speculative, risk-on asset, given its correlation with equity markets. However, according to BlackRock’s Mitchnick, this viewpoint may not fully capture Bitcoin’s long-term value.

Bitcoin’s Evolving Role as a Risk-Off Asset

Mitchnick highlighted in a recent Bloomberg interview that Bitcoin’s decentralized and scarce nature makes it more comparable to risk-off assets like gold. Unlike traditional currencies or commodities controlled by governments or financial institutions, Bitcoin operates independently of any central authority. This decentralization reduces its exposure to political and monetary policies that often affect other financial instruments, offering a layer of protection against economic instability.

Mitchnick also pointed out that while Bitcoin does experience temporary periods of high correlation with risk-on assets like US equities, its long-term correlation is closer to zero. This means that over extended periods, Bitcoin behaves more like a risk-off asset, maintaining its value even when the stock market experiences volatility.

“Gold shows a lot of the same patterns,” Mitchnick explained. Both gold and Bitcoin have demonstrated resilience during periods of economic uncertainty, making them attractive to investors looking for safer options.

BlackRock’s Investments in Bitcoin and Ether

BlackRock’s move into digital assets through its exchange-traded funds (ETFs) further underscores the growing institutional acceptance of Bitcoin as a long-term store of value. The firm’s investment in both Bitcoin and Ether highlights a broader shift among traditional financial players toward cryptocurrency. However, while Bitcoin is often compared to digital gold, Ether’s role remains less defined within institutional circles.

Ether, the second-largest cryptocurrency by market capitalization, is primarily used to support decentralized applications on the Ethereum blockchain. While Ether has also gained value in recent years, with a 15% increase in 2024 alone, its utility is tied to the success of the Ethereum network. Bitcoin, by contrast, is increasingly viewed as a reserve asset, with its value rooted in scarcity and decentralization.

The Future of Bitcoin as a Risk-Off Asset

Bitcoin’s performance in 2024 has been impressive, with the cryptocurrency rising 49% year to date. This surge, coupled with the approval of Bitcoin ETFs earlier this year, has bolstered its reputation as a viable investment option for those seeking stability in uncertain times.

While the debate over Bitcoin’s classification as a risk-on or risk-off asset will likely continue, BlackRock’s insights offer a compelling case for Bitcoin’s evolving role in financial markets. As more investors begin to recognize its potential as a hedge against economic instability, Bitcoin may solidify its place alongside traditional risk-off assets, offering a modern alternative to gold in the digital age.

In conclusion, Bitcoin is slowly transitioning from a speculative investment to a risk-off asset that investors can turn to for stability. BlackRock’s support of this view could catalyze further institutional interest, driving even more growth in the cryptocurrency market. Whether you are a retail investor or part of a financial institution, considering Bitcoin’s growing reputation as a risk-off asset could be a valuable addition to your portfolio strategy.

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WILLEMSTAD, Curacao, Sept. 23, 2024 /PRNewswire/ — BC.GAME, the leading crypto igaming and sports betting platform, has partnered with chart-topping rapper Lil Pump to revolutionize online gaming. This exciting cooperation follows BC.GAME’s recent signing of music sensation Jason Derulo, solidifying the platform’s position as an entertainment and gaming powerhouse.

BC.GAME welcomes Lil Pump, the flamboyant singer of “Gucci Gang” and “I Love It,” with his big social media following. His hiring fits the platform’s bold and inventive attitude. “I’m hyped to team up with BC.GAME!” Pump enthusiasm was evident. “Their online casino innovations are exciting, and I can’t wait to show my followers what we’ll do together.”

This new alliance follows Jason Derulo’s BC.GAME agreement earlier this year. The “Savage Love” singer has created special events, gaming themes, and exclusive music for BC.gaming gamers. With Lil Pump joining BC.GAME, star power is astronomical.

What Sets BC.GAME Apart?

BC.GAME stands out in the digital gaming world not just for its celebrity partnerships but also for its innovative features:

A crypto-friendly blockchain platform ensuring fairness and security

A diverse game library offering everything from slots to poker

A community-driven experience, allowing players to socialize while they play

Some of the biggest jackpots in the online casino space

BC.GAME CEO Jack Dorset expressed his excitement about the new collaboration. “Lil Pump brings an incredible energy that aligns perfectly with our brand,” Dorset said. “With both Jason Derulo and Lil Pump as part of our team, BC.GAME is ready to elevate the gaming experience to new levels.”

What Can Players Expect?

BC.GAME players can look forward to exciting Lil Pump-themed content, including exclusive games, tournaments, and music. Fans will also have access to live streaming events and VIP experiences featuring Lil Pump. Jason Derulo, meanwhile, continues to contribute with dance competitions, special game modes, and music-themed slots that blend entertainment and gaming seamlessly.

BC.GAME’s vision goes beyond being just a casino. By partnering with Lil Pump and Jason Derulo, the platform is pushing the boundaries of online gaming, merging it with music and social media to create an all-encompassing entertainment experience. “Our goal is to blur the lines between gaming, music, and social media,” said Dorset. “We’re building a platform where players can game, groove, and connect in one place.”

Looking Ahead

As BC.GAME continues to redefine online gaming, the future promises even more excitement. Players can anticipate massive online concerts, new game releases inspired by the artists, and exclusive collaborations with other major industry names. The platform is also committed to promoting responsible gaming, offering tools such as deposit limits and self-assessment quizzes to help players stay in control.

With Lil Pump and Jason Derulo leading the way, BC.GAME is at the forefront of an evolving entertainment landscape. The fusion of music, gaming, and social networking is just the beginning of BC.GAME’s exciting journey—stay tuned for more groundbreaking announcements!

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SOURCE BC.GAME

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Donald Trump, the former U.S. president, has been making headlines in the world of cryptocurrency with his substantial portfolio. In September, Trump’s crypto holdings surged by over $800,000, bringing his total portfolio value to $5.91 million. This growth has been fueled by the rise in Ethereum (ETH) and Wrapped Ethereum (WETH), alongside a variety of altcoins. In this article, we will explore the details of Donald Trump’s crypto portfolio and examine the key factors behind its significant gains.

Ethereum Leads Donald Trump’s Crypto Surge

Donald Trump’s crypto portfolio has seen a remarkable increase, with Ethereum (ETH) taking center stage. As of September 23, Trump holds 493.777 ETH, which is currently valued at $1.33 million. This marks a gain of over $52,000 in just a few weeks, as Ethereum has surged in value. Trading at $2,680, Ethereum has risen by approximately 15% over the past two weeks, making it a major contributor to the overall growth of Trump’s portfolio.

In addition to Ethereum, Trump holds 478.107 Wrapped Ethereum (WETH), a derivative of Ethereum, which has similarly appreciated. WETH is valued at $1.28 million, reflecting a $49,870 increase. Together, Ethereum and Wrapped Ethereum account for a substantial portion of Trump’s cryptocurrency gains this month.

The Role of GUA in Trump’s Portfolio Growth

Another notable asset in Trump’s cryptocurrency portfolio is GUA (GUA/USD), which has experienced a dramatic rise in value throughout September. At the beginning of the month, Trump’s GUA holdings were valued at $175.9K, but by September 23, their value had skyrocketed to $1.38 million. This sharp increase in the price of GUA tokens contributed significantly to the overall growth of Trump’s portfolio.

While Ethereum and WETH are widely known for their stability and market presence, GUA’s rise highlights the potential for significant gains from lesser-known altcoins. GUA’s performance has caught the attention of many in the crypto world, adding to the speculation about the future direction of Trump’s portfolio.

Diverse Altcoin Holdings

In addition to Ethereum and GUA, Trump’s portfolio includes a diverse range of altcoins. One notable asset is his 579,290 TRUMP (TRUMP/USD) tokens, which are valued at $1.05 million. These tokens, which carry Trump’s name, are a unique addition to his holdings, and their value has contributed to his overall portfolio growth.

Furthermore, Trump holds 137,390 USD Coin (USDC/USD) stablecoins, providing a stable component to his portfolio amid the volatility of the cryptocurrency market. Stablecoins like USDC are pegged to the U.S. dollar, offering a reliable store of value that can help balance out the riskier altcoin investments.

Beyond these holdings, Trump’s portfolio also includes 10 million FIGHT (FIGHT/USD) tokens and 29,960 CONAN (CONAN/USD) tokens. While these assets have not contributed as significantly to the recent growth of his portfolio, they demonstrate Trump’s diversified approach to cryptocurrency investing.

What’s Next for Trump’s Crypto Portfolio?

The ongoing success of Donald Trump’s cryptocurrency portfolio has generated significant attention, and many are eager to see how it will evolve in the coming months. With substantial holdings in Ethereum, GUA, and a variety of altcoins, Trump has positioned himself to benefit from the continued growth of the cryptocurrency market.

One event that is expected to shed light on the future of digital currencies and Trump’s portfolio is Benzinga’s Future of Digital Assets conference, scheduled for November 19. Industry leaders and experts will gather to discuss the future of digital currencies, blockchain technology, and their role in shaping global financial markets. As cryptocurrency continues to gain mainstream attention, events like these are critical for understanding market trends and investment opportunities.

Conclusion: A Strong Month for Trump’s Crypto Holdings

In September, Donald Trump’s cryptocurrency portfolio surged by over $800,000, driven by gains in Ethereum, Wrapped Ethereum, and GUA. With a portfolio now valued at $5.91 million, Trump has demonstrated a keen interest in the potential of digital assets. His diversified holdings, ranging from stablecoins to altcoins, reflect a strategy designed to capitalize on both stability and growth in the rapidly changing cryptocurrency market. As the year progresses, all eyes will be on Trump’s crypto investments, especially as the market continues to evolve.

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The world of Bitcoin mining has been buzzing with speculation following the months-long takeover attempt by Riot Platforms Inc. (NASDAQ:RIOT) of smaller rival Bitfarms Ltd. Despite a truce between the two cryptocurrency miners, the agreement leaves room for future takeover discussions. This article examines the details of the Riot Platforms takeover bid, the strategic moves by both companies, and what lies ahead for the two major players in the Bitcoin mining sector.

Riot Platforms Takeover Bid: The Background

In April, Riot Platforms made an unsolicited $950 million offer to acquire Bitfarms, a Toronto-based Bitcoin mining company. However, the offer was rejected, and Bitfarms quickly adopted a “poison pill” defense to prevent the hostile takeover. This defensive strategy was aimed at limiting Riot’s influence by restricting its ability to purchase a controlling interest in Bitfarms.

Despite Bitfarms’ resistance, Riot continued buying shares, keeping the door open for future takeover possibilities. As part of a truce unveiled on Monday, both companies agreed on certain terms that could pave the way for renewed discussions down the line. Notably, Riot agreed to refrain from acquiring more than 20% of Bitfarms without board approval, unless it is related to making a formal takeover bid. This leaves the possibility of a Riot Platforms takeover on the table, should market conditions become more favorable.

Truce Details and Governance Changes

One of the critical components of the truce is the reshuffling of Bitfarms’ board. Andrés Finkielsztain stepped down from his position, and Riot successfully nominated Amy Freedman to join the board. Freedman’s addition marks a victory for Riot, as it secures a seat at the decision-making table, furthering its influence over Bitfarms’ governance. Additionally, Bitfarms will elect an independent director later this year at a special shareholder meeting, adding another layer of oversight.

Matthew Kimmell, a digital asset analyst at CoinShares, noted that the agreement is a balanced solution for both parties. Riot can claim victory with its board nomination, while Bitfarms maintains control of its overall strategy by preventing a full-scale takeover for now.

“This looks like a mutually beneficial resolution, allowing both parties to move forward without the appearance of a loss,” said Kimmell. “Riot’s influence on Bitfarms’ governance is undeniable, but Bitfarms has also successfully resisted a complete takeover.”

The Future of Bitcoin Mining and Consolidation

The Bitcoin mining sector has been facing increased consolidation, driven by the challenging economics of mining operations. The process is energy-intensive, requiring companies to invest billions in specialized computers and electricity to validate transactions on the Bitcoin blockchain. The recent Bitcoin “halving” event, which reduces miners’ rewards by 50%, has only added to these challenges. As a result, the sector is ripe for mergers and acquisitions as smaller players look to survive amidst shrinking profit margins.

Riot Platforms operates one of the world’s largest Bitcoin mining facilities in Texas, while Bitfarms has expanded its global reach with operations in Canada and South America. Both companies are strategically positioned to weather the current downturn in mining profitability, but their differing strategies highlight the push and pull between independence and consolidation. Riot’s interest in Bitfarms may stem from a desire to diversify its mining locations and increase its market share, while Bitfarms is focused on maintaining autonomy.

Stock Performance and Market Outlook

While Bitcoin has surged 50% this year, both Riot Platforms and Bitfarms have struggled on the stock market. Riot’s shares have dropped roughly 50%, while Bitfarms has seen a 30% decline. This divergence between Bitcoin’s price increase and the miners’ stock performance is partly due to rising energy costs and the impact of Bitcoin halving, which has significantly reduced mining revenue.

Despite these setbacks, analysts believe the sector still has room for growth, especially as demand for Bitcoin remains strong and more institutional investors enter the cryptocurrency space. A potential Riot Platforms takeover of Bitfarms could create a more robust company better equipped to handle the fluctuations in Bitcoin mining profitability.

Conclusion: What’s Next for Riot and Bitfarms?

The Riot Platforms takeover of Bitfarms remains a possibility, as the current agreement leaves the door open for future acquisition talks. While the recent truce allows both companies to move forward without immediate conflict, it’s clear that Riot still has an interest in expanding its control over Bitfarms. The evolving dynamics of the Bitcoin mining industry, coupled with governance changes at Bitfarms, suggest that the landscape could shift again in the near future.

For investors, the prospect of consolidation in the cryptocurrency mining sector remains an exciting development to watch. Both Riot and Bitfarms could stand to benefit from a merger, allowing them to pool resources and strengthen their market positions in the face of growing challenges.

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TORONTO and ZUG, Switzerland, Sept. 23, 2024 /CNW/ – The INX Digital Company, Inc. (Cboe CA: INXD) (OTCQB: INXDF) (INXATS: INX) (the “Company” or “INX”), the regulated marketplace for trading security tokens and tokenized real-world assets, and Backed, a pioneer in real-world asset tokenization, today announced the listing of additional tokenized stocks on the INX platform for eligible users (excluding North American users). Following the successful launch of tokenized Nvidia, INX and Backed are now expanding their offerings with the listing of tokenized Tesla (bTSLA), Microsoft (bMSFT), Google (bGOOGL), and Gamestop (bGME) stocks. Apple (bAAPL), as well as tokenized S&P 500 (bCSPX) and Blackrock’s iShares Treasury (bIB01) ETFs will follow and list shortly after in the coming month. These assets, created under EU securities laws, and tokenized on the Polygon Proof of Stake (PoS) network, are backed one-to-one by their corresponding underlying stocks, with the blockchain ledger conveying ownership.

The Future of Investing

This expansion marks another significant milestone in democratizing access to traditional financial assets and merging them with the 24/7 liquidity and accessibility of the digital asset space. Non-U.S. eligible investors will have the ability to gain exposure to a variety of traditional securities, outside of standard stock market hours, with the option to fund their accounts with cryptocurrency. Self-custodied securities continue to open new possibilities for traders, enhancing the flexibility and efficiency of their portfolios. As part of our mission to bridge traditional and on-chain finance, INX is continually working to expand the range of real-world assets (RWAs) available for on-chain trading.

“We are excited to broaden our collaboration with Backed by adding these new tokenized stocks to our trading platform,” said Shy Datika, CEO of INX. “This expansion is another step forward in our mission to enable the trading of real-world asset tokens. We aim to list additional tokenized RWAs through other strategic partnerships. We remain committed to advancing the accessibility and efficiency of the tokenized asset market, expanding the boundaries of global finance.”

Adam Levi, Co-Founder of Backed, added, “The launch of bNVDA was just the beginning. By adding Microsoft, Tesla, S&P 500 ETF and others, we are offering investors an even wider range of tokenized assets to build their portfolios. We believe this is the future of finance, where traditional assets and digital markets converge seamlessly on the blockchain.”

Colin Butler, Global Head of Institutional Capital at Polygon Labs, added, “At the core of public, open-source blockchains is the democratization of financial assets. This groundbreaking initiative, built on Polygon PoS, enables individuals who previously lacked access to basic investment and savings vehicles to finally participate in foundational aspects of the global financial system. With Polygon PoS as a scalable, low-cost, and secure foundation, this expansion ensures accessibility for everyone, no matter where they are on their financial journey.”

INX provides a marketplace for tokenized assets, and this partnership with Backed brings additional assets in the form of tokenized shares to this market. These new listings allow traders to benefit from 24/7 availability, fractional ownership, and the security of blockchain technology.

Backed’s tokenized assets, including these new listings, are issued under an EU prospectus, offering eligible investors full transparency. Holders of these bTokens have primary claims to the collateral value, which is held with a licensed custodian under an account control agreement. The distributed ledger (blockchain) defines ownership, providing unparalleled security and transparency.

The key features of this offering include self-custody, allowing investors to hold securities directly in their own wallets, maintaining full control over their assets. The platform offers 24/7 trading, enabling transactions beyond traditional market hours and providing greater flexibility. Integration with decentralized finance (DeFi) allows investors to use their tokenized stocks as collateral for loans or other DeFi applications. The use of blockchain technology ensures enhanced security and transparency. Additionally, this offering is available to non-US residents and approved customers on the INX platform, with the convenience of on-chain transactions, where accounts can be funded with cryptocurrency to invest in these tokenized stocks. To get started, investors simply need to create an account on the INX platform and complete the necessary verification process.

About INX

INX provides regulated trading platforms for digital securities and cryptocurrencies. Combining traditional markets expertise with a disruptive fintech approach, INX offers state-of-the-art solutions to modern financial challenges. The company is led by a dedicated team of business, finance, and technology veterans with a shared vision of redefining capital markets through blockchain technology and a disciplined regulatory approach.

LinkedIn: https://www.linkedin.com/company/theinxdigitalcompany/
X/Twitter: https://x.com/INX_Group
Website: https://www.inx.co/

About Backed

Backed brings real-world assets on-chain, issuing permissionless tokens that track the value of fully collateralized real-world assets, such as stocks or ETFs. Tokens are issued under an approved EU prospectus, bridging the gap between TradFi and DeFi for institutional clients.

LinkedIn: https://www.linkedin.com/company/backed-finance/
X / Twitter: https://twitter.com/backedfi
Website: https://backed.fi/

This expanded collaboration between INX and Backed solidifies their commitment to bringing traditional financial assets into the digital realm, offering innovative investment opportunities to a global audience.

About The INX Digital Company, Inc.: The INX Digital Company, Inc. is the holding company for INX Group, which operates regulated trading platforms for digital securities and cryptocurrencies. INX Group’s mission is to bring communities together and empower them with financial innovation. With a vision to be the preferred global regulated hub for digital assets, INX raised US$84 million through the first SEC-registered initial public offering of a security token with the IPO of the INX Token. INX operates in a regulated environment under the oversight of the SEC, FINRA, FinCen, and U.S. state licensing authorities. For more information, visit the INX Group website here.

Cautionary Note Regarding Forward-Looking Information and Other Disclosures

This press release contains statements that constitute “forward-looking information” (“forward-looking information“) within the meaning of applicable Canadian securities legislation. All statements, other than statements of historical fact, are forward-looking information and are based on expectations, estimates, and projections as of the date of this news release. Forward-looking information includes predictions, expectations, beliefs, plans, projections, objectives, assumptions, future events, or performance and often uses phrases such as “expects”, “anticipates”, “plans”, “believes”, or variations of such words and phrases.

INX has made certain assumptions in disclosing the forward-looking information contained in this press release, including the continuous development of the INX trading platform, listing additional tokenized RWAs through other strategic partnerships, and the completion of described transactions. While INX believes the expectations reflected in such forward-looking information are reasonable, no assurance can be given that these expectations will prove correct. Known and unknown risks, uncertainties, and other factors may cause actual results and future events to differ materially from those expressed or implied by such forward-looking information. Factors include regulatory developments, market conditions for digital securities and cryptocurrencies, and general economic conditions. Readers should not place undue reliance on the forward-looking information contained in this press release. Except as required by law, INX disclaims any intention and assumes no obligation to update or revise forward-looking information to reflect actual results or new information.

Cboe Canada is not responsible for the adequacy or accuracy of this press release.

This news release does not constitute an offer to sell or solicit an offer to buy any securities in the United States. The securities have not been and will not be registered under the U.S. Securities Act or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

SOURCE The INX Digital Company, Inc.

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