Brandt’s warning. Veteran trader Peter Brandt says Satoshi Nakamoto’s Bitcoin holdings represent the “ultimate risk” to BTC if they were ever stolen.
Peter Brandt, one of the most prominent commodity traders, has opined that the Bitcoins that belong to elusive founder Satoshi Nakamoto pose the “ultimate risk” to the largest cryptocurrency due to the possibility that they might end up being stolen.
This comes after Capriole founder Charles Edwards recently voiced concern about the potential threat that quantum computing poses to Satoshi’s riches.
Quantum computing has been gradually penetrating the Bitcoin discourse due to concerns about a powerful computer, Shor’s algorithm, which would be capable of reverse-engineering private keys.
The first entity that manages to build such a powerful quantum computer could end up breaking Bitcoin’s encryption and potentially gain access to Satoshi’s enormous fortune.
Former Wall Street trader Josh Mandell recently made a wild claim that quantum tech is already being used to steal coins from old wallets.
A new XRP ETF proposed by GraniteShares offers eye-popping 3X leverage.
GraniteShares, a provider of exchange-traded funds (ETFs), has filed to launch an ETF that offers exposure to the Ripple-linked XRP token with 3X leverage (long and short).
On top of that, it will offer similar products for such cryptocurrencies as Ethereum (ETH), Bitcoin (BTC), and Solana (SOL).
The ETF will offer a return of roughly 300% of the daily price of the asset it tracks. For instance, if XRP rises by 1% in a single day, the product should spike by approximately 3% (the same applies to price declines).
Like other leveraged ETFs, it is designed to be a short-term trading tool since the ETF’s performance gets reset on a daily basis. Hence, traders are exposed to the compounding risk given that the ETF’s value can be swiftly eroded over time.
Cardano founder predicts next big thing in crypto.
In a recent interview, Cardano Founder Charles Hoskinson predicted a major shift coming to the crypto market.
According to the Cardano founder, every season has its peculiarity, with a big push for privacy at the moment, stemming from the need to link the legacy and DeFi worlds together. He recounts progress being made by privacy-focused blockchain, including Midnight and Zksync, among others.
Hoskinson reiterated that privacy is the “big thing” now in cryptocurrency and stands to be the narrative of value appreciation this cycle, with Ethereum killers such as Solana being that of the last cycle.
Altcoin season refers to a period of altcoins outperforming Bitcoin.
