MASHINSKY SERIAL

And if you need a loan, you can borrow against these assets as collateral.РІР‚Сњ РІР‚СљDonРІР‚в„ўt sell your Ethereum or your Bitcoin. And if those assets increase in value over time, then itРІР‚в„ўs a double win. The beauty is that customers hold onto their nest eggs but also earn rewards on their assets which is paid on a weekly basis. Instead, it allows its customers to choose their own digital assets it supports 50 of the top cryptos, and then offers a yield on their transfer to the app. But the banks only pay 0.1% in interest and inflation is running at 7%, so you can never catch up.РІР‚СњР”В¬elsius does not try and sell people assets РІР‚вЂњ which is a common route in crypto-based platforms РІР‚вЂњ where typically fees are made on transactions. Maybe they have a nest egg, and they want to try and leverage that. They have jobs, they have families, they have lives. РІР‚СљOur focus is ordinary people who donРІР‚в„ўt have time to trade all day. We charge fees to institutions, like Robin Hood.РІР‚СњР”В¬elsius does this reverse of fortunes within the system and the people it wishes to serve are the ordinary folk. We are the opposite of Wall Street РІР‚вЂњ where insiders get to call retail investors the plankton because they feed on them.

ThatРІР‚в„ўs what we set up to change in Celsius. For most unaccredited investors you cannot participate in different investments, and you are excluded from value creation. Indeed in this zero/negative interest climate, their money is devalued on top of which they get charged all sorts of bank and credit card fees. As he points out, people work hard, get paid a salary, lose half it in taxes, and then people canРІР‚в„ўt earn any interest on their remaining money. Right now the banking system is particularly broken. РІР‚СљThere was a recent survey where people said theyРІР‚в„ўd rather visit the dentist than go sit with their bankers. РІР‚СљIРІР‚в„ўm not alone in this opinion,РІР‚Сњ he says. The result is a Celsius Network, a crypto platform that has grown 20x in one year.Р”В¬oupled with his interest in crypto was a singular dislike of how the banking system served its customers, or rather it didnРІР‚в„ўt. It wasnРІР‚в„ўt until he understood it solved the issue of the digital double spend, that he got interested and when Mashinsky gets interested, he moves fast.

MASHINSKY SERIAL

But I think everything is going to take a hit first if tapering and the interest rates are going to rise.РІР‚СњР”В«itcoin is trading at $49,218 at time of writing.Alex Mashinsky, the serial US entrepreneur well known for installing broadband on the US subway, once famously declared Bitcoin the slowest database on the planet. РІР‚СљIf weРІР‚в„ўre seeing inflation continue to rise, weРІР‚в„ўre seeing the Fed really locking the horns with inflation, trying to put it back in PandoraРІР‚в„ўs box, I think weРІР‚в„ўre going to see asset classes including Bitcoin and gold actually take a hit first.Р”Р„nd then they may recover and go higher. Mashinsky says that Bitcoin and gold could, however, fall first before rallying due to the Federal Reserve BankРІР‚в„ўs efforts to fight inflation and drawdown asset purchases. I expect gold to go much higher than $2,000 and stay above those levels when people realize that those are the real only two assets that are not connected to the mother ship which is the dollar.РІР‚Сњ

РІР‚СљSo Bitcoin, I expect it to rip higher again, $140,000 to $160,000 next year. РІР‚СљThey are going to continue to reflate and because of that sooner or later, both Bitcoin and gold are actually going to rip much higher because basically, people will understand that theyРІР‚в„ўre getting taxed and then debased, you know.РІР‚СњР”Р„ccording to the Celsius Network CEO, Bitcoin could more hit a six-figure price in 2022.