Michael Novogratz: “Now is the time to buy Bitcoin.”; Bitcoin has passed another important milestone: 1.1 billion addresses.; Uniswap integrated into BNB Chain.
Michael Novogratz: “Now is the time to buy Bitcoin.”
According to Michael Novogratz, founder, and CEO of Galaxy Digital, now is the time to buy gold, silver, and Bitcoin (BTC).
The US economy and stablecoins in the crypto market have been negatively impacted after last week’s shutdowns of traditional and crypto-friendly banks in the US.
Michael Novogratz thinks the US is heading towards a credit crisis and presents an opportunity to buy gold, silver, and Bitcoin.
“We’re going to have a credit crunch in the US and globally. That’s why you want to be long in gold, silver, and BTC,” Novogratz told CNBC.
Speaking on CNBC’s Squawk Box the other day, Novogratz pointed out that banks often rebuild their capital by lending less, which means that it will lead to a credit crunch, and that indicators such as the commodity market are already pointing to a recession.
Novogratz says there is a reversal in interest rate policy, saying that the Federal Reserve just wanted to give a slightly more dovish increase for the sake of reliability, but to do so would be a major policy mistake.
Thinking that difficult times are at the door for the US economy, Novogratz stated that the rises in the crypto field are close.
“If there’s a good time to invest in bitcoin and crypto, it’s because it was created because governments print a lot of money when the pain is too great, and we’re witnessing that.”
Bitcoin has passed another important milestone: 1.1 billion addresses
In 2008, an anonymous person named Satoshi Nakamoto published a whitepaper titled “Bitcoin: The Peer-to-Peer Electronic Cash System.”
This revolutionary document laid the foundations for Bitcoin, the first decentralized digital currency. Launched in January 2009, Bitcoin allowed people to transact without the need for central authorities such as banks or governments. It was based on blockchain technology, which provides a secure, transparent, and tamper-proof way to keep records of transactions.
Over the years, Bitcoin adoption has grown exponentially, and people worldwide have realized its potential. Bitcoin’s network has expanded significantly from a handful of addresses in 2009.
This growth is a testament to the increasing acceptance of cryptocurrencies in everyday life. Looking at the latest on-network data, another necessary proof of this stands out. Bitcoin has reached another notable milestone: 1.1 billion addresses.
In recent years, Bitcoin has expanded beyond its initial vision as a peer-to-peer electronic cash system. Bitcoin is now seen as a digital store of value, and some compare it to digital gold. Bitcoin’s reputation as a legitimate financial asset grows as institutional investors enter the market.
This widespread adoption plays an essential role in the staggering growth of the Bitcoin network, as evidenced by the recent milestone of 1.1 billion addresses.
Uniswap integrated into BNB Chain
Decentralized cryptocurrency exchange (DEX) Uniswap has been launched on the smart contract-based blockchain BNB Chain created by Binance.
Over 55 million UNI owners voted in a governance vote successfully passed by 0x Plasma Labs to launch Uniswap v3 on BNB Chain in February. The proposal was accepted with 66% of the votes.
The most popular DEX will now be featured on BNB Chain
The proposal was brought up to expand Uniswap’s reach and drive further growth and adoption of DeFi.
According to the announcement, expansion to BNB Chain offers many benefits, including user growth, lower fee transactions, and entry into new markets.
This development means that Uniswap users can leverage BNB Chain to trade and swap tokens across the network. The integration also allows Uniswap to leverage a liquidity pool with BNB Chain’s decentralized finance (DeFi) developer community, increasing awareness and adoption among retail and institutional investors.