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Converting mining sites to AI data centers isn't seamless: Sabre56 CEO

Author: Cointelegraph by Vince Quill
United States
Sep 05, 2024 12:00

Converting mining sites to AI data centers isn't seamless: Sabre56 CEO

According to CEO Phil Harvey, Bitcoin miners will average roughly $1.50 in revenue per terahash every month during the current market cycle.

Sep 05, 2024 12:05

Bitcoin Boom Over? Expert Calculates How High It Can Go In 10 Years

Over the past seven months, the price of Bitcoin has moved in a range between $73,777 and $49,000, significantly depressing sentiment across the market. In a new analysis published via X, Will Clemente III, co-founder of Reflexivity Research, addresses the prevailing sentiment of impatience and uncertainty among investors, sharing why he still remains bullish. Clementes bullish sentiment draws from a long-term perspective over the next decade. Drawing upon his expertise in portfolio construction and asset allocation, Clemente emphasized the importance of identifying major economic trends likely to unfold over the next decade. “Been thinking a lot about portfolio construction lately and position sizing. I keep coming back to there’s nothing I’d rather go into a coma for 10 years and hold than Bitcoin,” Clemente stated, emphasizing his confidence in Bitcoin as the superior long-term asset. His analysis is grounded in the anticipation of certain macroeconomic trends. Clemente suggests that investors should consider what the biggest trends are likely to be over the next decade and adjust their portfolio accordingly. This involves either significantly increasing investment in the highest confidence trend or spreading investments across several promising trends based on their potential impact. Related Reading: Critical Bitcoin Indicator: Analyst Foresees Major 75% Correction Ahead He personally favors focusing on the most probable trend, which he identifies as the ongoing growth of the US deficit and the subsequent need for the government to debase the currency to service this debt. This scenario, according to Clemente, offers a more predictable outcome than other technological trends like AI or space exploration. Compared to other technological trends, the debasement one is pure math. In addition, the way to bet on other technological trends, for example AI or space, isn’t as clear as debasement, given there’s not a way to position for it as clear as Bitcoin, Clemente writes. How High Can Bitcoin Go In 10 Years? Clemente’s bullish stance on Bitcoin is reinforced by his analysis of potential capital inflows from sovereign wealth and pension funds. He estimates that if these entities were to allocate just 1% of their capital to Bitcoin, it would result in approximately $460 billion of new investments into BTC, potentially doubling its market cap and driving prices to between $150,000 and $200,000 per Bitcoin. He further speculates on the impact of an increased allocation, suggesting that if concerns over the deficit intensify, these institutions might allocate as much as 3%, translating into $1.4 trillion entering Bitcoin. And the upside potential is even larger. What happens if it eats into the $10t-$15t of gold’s monetary premium? How about the combined monetary premium in treasuries/equities/real estate that’s currently parked into these assets as SoV to protect against currency debasement? Clemente pondered. Related Reading: Will Bitcoin Repeat History? Analyst Sees This 2019 Pattern In Current Market Concluding his analysis, Clemente reasoned that a $1 million price per Bitcoin by 2034 is not out of the realm of possibility when factoring in the reduced purchasing power of the dollar. Also would like to sprinkle on top that this is not factoring in dollars being worth significantly less in the future due to debasement, so $1mm BTC in 2034 is not as crazy as $1mm BTC in 2024, the analyst remarked. However, Clemente also acknowledged, I do think Bitcoin’s days of 100%+ CAGR are gone, but that’s not to say it won’t outperform equity indices by a lot — and on a confidence-adjusted basis, I don’t see anything as compelling in the marketplace today. At press time, BTC traded at $56,481. Featured image created with DALL.E, chart from TradingView.com

Sep 05, 2024 02:15

Canaan Inc. to Join Benchmark's 11th Annual TMT Conference in NYC


Canaan Inc. (NASDAQ: CAN) will participate in Benchmark's 11th Annual TMT One-on-One Conference in New York City on September 4, 2024. (Read More)

Bitcoins 'Coinbase premium' returns as BTC price heads for best September ever

Author: Cointelegraph by Biraajmaan Tamuly
United States
Sep 28, 2024 12:00

Bitcoins 'Coinbase premium' returns as BTC price heads for best September ever

Bitcoin is up 22% in the last three weeks as demand from U.S. investors gradually increased, pushing prices above pre-August crash levels. 

Interview: Philippine Science High Schools Joel Bautista on Pisay-DigiCert and Blockchain-Based Student Records

Author: Shiela Bertillo
Philippines
Sep 26, 2024 02:50

Interview: Philippine Science High Schools Joel Bautista on Pisay-DigiCert and Blockchain-Based Student Records

Pisay-DigiCert is an initiative led by the Philippine Science High School (PSHS) to enhance the security and management of student records using blockchain technology.

Bitcoin bulls are laying the path to $66K, but will they make it?

Author: Cointelegraph by Big Smokey
United States
Sep 25, 2024 12:00

Bitcoin bulls are laying the path to $66K, but will they make it?

Bullish Bitcoin traders are making progress by attempting to retake the 200-day moving average, but a close above $66,000 could kickstart a rally to BTCs all-time high.

Sep 22, 2024 02:15

NVIDIA Unveils NCCL 2.22 with Enhanced Memory Efficiency and Faster Initialization


NVIDIA introduces NCCL 2.22, focusing on memory efficiency, faster initialization, and cost estimation for improved HPC and AI applications. (Read More)

Sep 13, 2024 02:50

Philippine Science High School Unveils Blockchain-Based Records System | Key Points | Sept. 12, 2024

In today's daily recap, Philippine Science High School is in the news for its blockchain project!

Aug 09, 2024 05:50

XRP Sharks & Whales Push Bags To ATH As Price Rockets 19%

On-chain data shows the XRP sharks and whales have expanded their holdings to a new all-time high (ATH) with a 10% jump in August. XRP Wallets With 10 Million To 100 Million Tokens Have Set A New Record According to data from the analytics firm Santiment, the XRP sharks and whales have sharply increased their [...]

The post XRP Sharks & Whales Push Bags To ATH As Price Rockets 19% appeared first on Crypto Breaking News.

EU watchdog sues Elon Musks X over alleged AI data violations

Author: Cointelegraph by Tristan Greene
United States
Aug 08, 2024 12:00

EU watchdog sues Elon Musks X over alleged AI data violations

As recently as July 25, the DPC seemed to believe the matter would be resolved without court actions.

Aug 08, 2024 01:25

Bitcoin Addresses Holding Over 0.1 BTC Near All-Time High Amid Price Dip

Investors are capitalizing on the recent price decline by accumulating more BTC.

Transak becomes first US crypto on-ramp to enable wire transfers

Author: Cointelegraph by Zoltan Vardai
United States
Aug 07, 2024 12:00

Transak becomes first US crypto on-ramp to enable wire transfers

Wire transfers in the worlds largest economy could attract more high-net-worth individuals to crypto.

Aug 31, 2024 12:00

Why crypto miners are ditching debt for equity

Crypto miners are moving away from debt and embracing stock dilution to fuel their AI and HPC ambitions, but the payoff is still uncertain.

Aug 27, 2024 02:15

Canaan Inc. to Join Macquarie's 15th Annual ASEAN Conference


Canaan Inc. (NASDAQ: CAN) will participate in Macquarie's 15th Annual ASEAN Conference on August 27-28, 2024, hosting one-on-one meetings with institutional investors. (Read More)

Argentina adds Ethereum to Buenos Aires high school curriculum

Author: Cointelegraph by Ezra Reguerra
United States
Aug 27, 2024 12:00

Argentina adds Ethereum to Buenos Aires high school curriculum

High schools in the city of Buenos Aires will offer blockchain internships to provide hands-on experience to students. 

Bitcoin poised for breakout as US money market funds reach $6.2T

Author: Cointelegraph by Zoltan Vardai
United States
Aug 27, 2024 12:00

Bitcoin poised for breakout as US money market funds reach $6.2T

Bitcoin could be on track for a September breakout to new record highs, but it faces significant resistance around $65,000.

Brazil poised to launch worlds first spot Solana ETF ahead of global markets

Author: Cointelegraph by Zoltan Vardai
United States
Aug 15, 2024 12:00

Brazil poised to launch worlds first spot Solana ETF ahead of global markets

According to IBMs former blockchain growth lead, a potential Solana ETF approval in the US could act as a significant price catalyst for SOL.

Hong Kong court orders financial disclosures in Mantra Chain dispute

Author: Cointelegraph by Derek Andersen
United States
Aug 14, 2024 12:00

Hong Kong court orders financial disclosures in Mantra Chain dispute

The court said the DAOs financial details should be known to both sides as they hash out ownership and control issues.

Pump.fun hits record $28.7 million monthly agreement income for July

Author: Cointelegraph by Zoltan Vardai
United States
Aug 14, 2024 12:00

Pump.fun hits record $28.7 million monthly agreement income for July

The memecoin creation platform's record monthly income showcases the growing retail interest towards Solana-based memecoins like WIF and BONK.

Multichain Foundation to pay $2.1M to Fantom for losses

Author: Cointelegraph by Arijit Sarkar
United States
Jul 10, 2024 12:00

Multichain Foundation to pay $2.1M to Fantom for losses

The High Court of Singapore ordered Multichain to compensate the Fantom Foundation after a $210 million hack, awarding $2.18 million in damages.

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