The Use Case for Bitcoin was Finished – Mike Novogratz – Borse Stuttguard lists Litecoin ETN

By dan saada May 14, 2019 Off

Mike Novogratz at the 2019 Ethereal Summit stated that Bitcoin would not change the world by itself by being a store of value.  He opined that the use case for Bitcoin “was finished.”

When talking about the Altcoins, he stated, “There’s no one building anything on the Litecoin blockchain.” However, in the past, Novogratz had glorified selling Litecoin and had called it a testnet for Bitcoin.  He stated that several Altcoins would succeed with their unique use cases.  He previously predicted that Bitcoin would hit on the $20,000 in the forthcoming 18 months.

For a short period Bitcoin hovered beyond the $8,000 on May 14, 2019.

The price of XRP has been up by 17%.  The price tested the yearly highs above $0.3700 touching at $0.378. While several cryptocurrencies have been trading for more than 100% ever since the beginning of the year, XRP has been in the red.  The support and resistance level has been hovering at around $0.30-$0.31.  The total market capitalization of XRP climbed above $15 billion sustaining the third place in the market.

Borse Stuttguard has listed Litecoin ETN and XRP.  The ETN can be used by the traders to bet on XRP and LTC. The ETN has been made available in the exchange from May 13, 2019.  Swiss-based exchange as well launched the ETP based on the XRP.

ETNs are unsecured debt securities, which are a lot like ETFs traded on stock exchanges.  Such products permit investors to gain exposure to asset classes.  Thus investors will be exposed to cryptocurrencies without having to purchase them directly.

The increase in the price of Litecoin is at par with that of other coins, which has been trading around 90$.  Several other Altcoins have been rising by 6.02% on a daily scale.  Litecoin has a market cap of $5.63 billion and continues to be on the bullish course along with Bitcoin.

The bull run of Bitcoin has triggered the rise of XRP as well.  XRP has been trading in smaller ranges of $0.30 for quite some time now.  Considering past highs, there is tremendous room for the growth of XRP and the last alt-season was in reality triggered by XRP. The XRP price is trying to catch up with the positive momentum of Bitcoin.

However, when discussing the speed of Bitcoin one of the tweets read:  “When I post about #bitcoin I get shilled that it’s slow compared to ripple or bcash or whatever crap. Yes, I can use a Google Spreadsheet, and it’ll be faster than bitcoin too, but safer?”