{"id":88160,"date":"2020-10-13T16:57:00","date_gmt":"2020-10-13T13:57:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/bitcoin-price-steady-as-10b-asset-manager-scoops-up-10000-btc\/"},"modified":"2020-10-13T16:57:00","modified_gmt":"2020-10-13T13:57:00","slug":"bitcoin-price-steady-as-10b-asset-manager-scoops-up-10000-btc","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-steady-as-10b-asset-manager-scoops-up-10000-btc\/","title":{"rendered":"# Bitcoin price steady as $10B asset manager scoops up 10,000 BTC"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a3d73a490973\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a3d73a490973\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-steady-as-10b-asset-manager-scoops-up-10000-btc\/#Economist_Fed_must_print_5_trillion_in_2021\" >Economist: Fed must print $5 trillion in 2021<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/bitcoin-price-steady-as-10b-asset-manager-scoops-up-10000-btc\/#From_V-shaped_to_K-shaped\" >From V-shaped to K-shaped<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># Bitcoin price steady as $10B asset manager scoops up 10,000 BTC <\/strong>&#8221;<br \/>\n<img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS9zdG9yYWdlL3VwbG9hZHMvdmlldy9hOWI1YTk1YzMyOTQzMTdjM2FiZmU4ZmY2ZWRhN2QxYi5qcGc=.jpg\" \/><\/p>\n<div data-v-17f60ba6=\"\">\n<p dir=\"ltr\">Bitcoin (BTC) is winning the battle of the safe havens as another corporate buy-in sees $115 million enter its books.<\/p>\n<p dir=\"ltr\">Asset management giant Stone Ridge confirmed that it made the significant purchase via its spin-off New York Digital Investment Group or NYDIG, which now has over $1 billion in assets under management.<\/p>\n<h2 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"Economist_Fed_must_print_5_trillion_in_2021\"><\/span>Economist: Fed must print $5 trillion in 2021<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p dir=\"ltr\">\u201cThe macro backdrop against the public health backdrop has caused a lot of people to rethink their portfolio composition,\u201d the company\u2019s new CEO, Robert Gutmann, told <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" data-amp=\"https:\/\/www-forbes-com.cdn.ampproject.org\/c\/s\/www.forbes.com\/sites\/michaeldelcastillo\/2020\/10\/13\/stone-ridge-reveals-115-million-bitcoin-investment-as-part-of-billion-dollar-spin-off\/amp\/\" href=\"https:\/\/www.forbes.com\/sites\/michaeldelcastillo\/2020\/10\/13\/stone-ridge-reveals-115-million-bitcoin-investment-as-part-of-billion-dollar-spin-off\/#70ff8a5f9850\">Forbes<\/a> on Oct. 13.<\/p>\n<p dir=\"ltr\"><a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/michael_saylor\/status\/1316006496409448450\">Michael Saylor<\/a>, CEO of MicroStrategy, which purchased $425 million of BTC in August and September, responded:<\/p>\n<blockquote>\n<p dir=\"ltr\">\u201cAs the trillions of dollars on the balance sheets of banks, asset managers, insurance firms, endowments, &amp; family offices begin their migration to the #Bitcoin universe, they will need firms like NYDIG to guide them.\u00a0 $1 billion down, more to go.\u201d<\/p>\n<\/blockquote>\n<p dir=\"ltr\">The <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">news<\/a> comes as a <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/jamanetwork.com\/journals\/jama\/fullarticle\/2771764\">new report<\/a> warns that the United States Federal Reserve will need to print $5 trillion next year.<\/p>\n<p dir=\"ltr\">Published on Oct. 12, the report by economists Lawrence \u2018Larry\u2019 Summers and David Cutler calculates the indirect cost of the Coronavirus to be $16 trillion.<\/p>\n<p dir=\"ltr\">\u201cThe total cost is estimated at more than $16 trillion, or <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/download-scripts-themes-apps\/\" data-internallinksmanager029f6b8e52c=\"9\" title=\"Download Scripts &amp; Themes &amp; Apps\" target=\"_blank\" rel=\"noopener\">app<\/a>roximately 90% of the annual gross domestic product of the US. For a family of 4, the estimated loss would be nearly $200\u202f000,\u201d it summarizes.<\/p>\n<blockquote>\n<p dir=\"ltr\">\u201cApproximately half of this amount is the lost income from the COVID-19\u2013induced recession; the remainder is the economic effects of shorter and less healthy life.\u201d<\/p>\n<\/blockquote>\n<p dir=\"ltr\">Commenting on the findings, <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/EconguyRosie\/status\/1315993797944324096\">David Rosenberg<\/a>, chief economist at Rosenberg Research &amp; Associates, concluded that the Fed alone would thus need to print $5 trillion of liquidity in 2021.<\/p>\n<p dir=\"ltr\">This would compound the feeling of unease which began with this year\u2019s mass money printing, which has sent U.S. national debt over $27 trillion.<\/p>\n<p dir=\"ltr\">Rosenberg told <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> followers to buy gold, but for Max Keiser, there is a clear alternative which makes more sense.<\/p>\n<p dir=\"ltr\">\u201cGold works, but #Bitcoin is THE FASTEST HORSE IN THE RACE,\u201d he <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/maxkeiser\/status\/1315994557444689922\">wrote<\/a> in reply to Rosenberg.<\/p>\n<p dir=\"ltr\">Bitcoin hit highs of $11,690 on Tuesday before returning towards $11,400 at press time, still on monthly gains of 10.5% and year-to-date returns of 60%. As Cointelegraph reported, hopes are increasing that the short term will bring further upside, with even $17,000 coming into play should $12,000 be flipped to support.<\/p>\n<h2 dir=\"ltr\"><span class=\"ez-toc-section\" id=\"From_V-shaped_to_K-shaped\"><\/span>From V-shaped to K-shaped<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p dir=\"ltr\">For the fiat economy, however, the picture is looking much bleaker, according to new comments from the International Monetary Fund (IMF).<\/p>\n<p dir=\"ltr\">Speaking to <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" data-amp=\"https:\/\/www-cnbc-com.cdn.ampproject.org\/c\/s\/www.cnbc.com\/amp\/2020\/10\/06\/cnbc-exclusive-cnbc-excerpt-imf-managing-director-kristalina-georgieva-speaks-with-cnbcs-sara-eisen-on-closing-bell-today.html\" href=\"https:\/\/www.cnbc.com\/2020\/10\/06\/cnbc-exclusive-cnbc-excerpt-imf-managing-director-kristalina-georgieva-speaks-with-cnbcs-sara-eisen-on-closing-bell-today.html\">CNBC<\/a> last week, IMF Managing Director Kristalina Georgieva said that the outlook for many countries was now not a V-shaped recovery but a K-shaped one.<\/p>\n<p dir=\"ltr\">\u201cMost countries are going to be faced with uneven recovery and we see in many cases a \u2018K,\u2019 with parts of the economy doing really well, and other parts contracting dramatically,\u201d she forecast.<\/p>\n<p dir=\"ltr\">For Keiser, this was a textbook definition of a phenomenon he calls \u201cneofeudalism.\u201d This involves the concentration of more of the world\u2019s wealth closer to the state at the expense of those further away, creating the modern equivalent of lords and peasants.<\/p>\n<p dir=\"ltr\">\u201cThe extreme wealth concentration created by Covid becomes permanent. This would be a new Dark Ages,\u201d he <a rel=\"nofollow noopener noreferrer\" target=\"_blank\" href=\"https:\/\/twitter.com\/maxkeiser\/status\/1315822168203309057?s=20\">tweeted<\/a> on Wednesday.<\/p>\n<blockquote>\n<p dir=\"ltr\">\u201cBitcoin fixes this.\u201d<\/p>\n<\/blockquote>\n<\/div>\n<p><script async src=\"\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more News articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener noreferrer\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/10b-asset-manager-reveals-buying-115m-in-bitcoin-in-a-growing-trend\" target=\"_blank\" rel=\"noopener noreferrer\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# Bitcoin price steady as $10B asset manager scoops up 10,000 BTC &#8221; Bitcoin (BTC) is winning the battle of the safe havens as another corporate buy-in sees $115 million enter its books. Asset management giant Stone Ridge confirmed that it made the significant purchase via its spin-off New York Digital Investment Group or NYDIG,&#8230;<\/p>\n","protected":false},"author":1,"featured_media":88161,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/s3.cointelegraph.com\/storage\/uploads\/view\/a9b5a95c3294317c3abfe8ff6eda7d1b.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74862,75606,75607,1545,73711,73785],"class_list":["post-88160","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-bitcoin","tag-imf","tag-max-keiser","tag-coronavirus","tag-investments","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/88160","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=88160"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/88160\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/88161"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=88160"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=88160"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=88160"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}