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Venture capitalist Peter Thiel recently hit the headlines following reports that his Founders’ Fund pumped over $200 million in Bitcoin (BTC) and Ethereum (ETH). However, the fund sold the holdings shortly before the crypto winter in 2022.
Recent reports stated that the corpus was evenly divided between the two assets. The tokens which were sold reportedly fetched Thiel around $1.8 billion.
Meanwhile, experts are closely watching the price of Bitcoin and Ethereum as BTC is still very bullish after the launch of BTC ETFs in the US. The launch of these financial products came after months of discussions about the legal aspects of BTC ETFs and how they can influence access to crypto assets.
Among the altcoins, InQubeta (QUBE) has been a star token because of its consistent growth. The platform helps startups find backers for their AI-led projects and shape the technology’s future.
InQubeta: For startups building the future of AI
Launched in 2023, the crypto project made it to many analysts’ best cryptocurrency ICO lists shortly after its presale success. Its ICO has so far raised more than $9.9 million.
InQubeta’s native cryptocurrency, the QUBE token, is among the emerging cryptos that have displayed more market resilience over mainstream asset categories. For the QUBE token, one of its main flexes is its deflationary model.
The feature controls the asset supply according to the market conditions and minimizes fluctuations in the token price. Whenever volatility or inflation is high, the supply is lowered, so that both price and demand stay stable. If the supply goes up while the market is volatile, the extra tokens in circulation are burned.
With InQubeta, people won’t have to repeatedly worry about what cryptos to buy now as they can participate in decision-making. The freedom to choose which features are added, the products launched and protocol upgrades is due to its decentralized governance structure.
If a new product or upgrade is suggested, it’s put to a vote. Token holders use their voting privileges to pick which suggestions are in the best interests of the platform.
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The case for Bitcoin ETFs gets stronger in South Korea
Bitcoin is a leading cryptocurrency that facilitates seamless online international transactions. Its native token BTC is used for all payments which are then confirmed with the proof-of-work consensus protocol. Its popularity went up significantly this year due to the launch of Bitcoin ETFs in the US markets.
These funds help people invest in crypto assets without having to buy them. The asset management company had to face several regulatory challenges for ETFs before getting a go-ahead from US regulators.
The success of these ETFs has paved the way for new avenues in the crypto market. Also, more counties are opening up to these funds. In South Korea, the Democratic Party – the chief opposition party – has been pushing for ETFs and the government to allow financial institutions to launch spot Bitcoin ETFs in the country.
It has called for locals to be allowed to invest in spot ETF through their saving accounts, as per media reports. Incidentally, the ruling party in the country has also been calling for a ban on ETFs to be lifted in the country.
Ethereum’s co-founder hints at use of AI in code verification
Ethereum is a blockchain technology that can be used to create cryptocurrencies, NFTs, blockchains, and rollups. Its native token ETH is widely regarded as one of the altcoins to watch out for this year.
According to recent reports, ace entrepreneur and venture capitalist Peter Thiel’s Founder’s Fund invested around $200 million in Bitcoin and Ethereum. The fund, however, sold the holdings ahead of the 2022 crypto winter.
Analysts consider ETH as a future-ready crypto asset as Ethereum can be leveraged with several cutting-edge technologies like zero-knowledge technology and AI.
Ethereum co-founder Vitalik Buterin recently hinted at the potential of AI-led tools in verifying code and spotting bugs. Buterin also stated that the most serious technical risk that Ethereum faces currently is bugs in code architecture.
Conclusion
InQubeta, Bitcoin and Ethereum reigned over the crypto market throughout 2023 and analysts have suggested the status quo is unlikely to change anytime soon. These coins are considered the best cryptocurrencies to buy irrespective of how the market is faring, thanks to their anti-inflationary models.
These tokens are also revered in the market because of their growth potential. As all transactions are validated, crypto users don’t have to worry about snags. The full-proof security frameworks also keep users’ assets secure.
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Source: https://finbold.com/peter-thiels-200m-bet-on-bitcoin-ethereum-inqubeta-captures-market-attention/