From the scarcity of Bitcoin to a legal maneuver at Ripple, here’s a look at some of the stories breaking in the world of crypto.
Independent crypto researcher and analyst Willy Woo says Bitcoin’s scarcity and maximum supply of 21 million coins is why he believes BTC will “easily” soar above gold’s $7.8 trillion market cap.
This is the reason why I think Bitcoin will easily exceed golds market cap.
*Mathematical scarcity beats perceived scarcity*
Perceived scarcity comes only from the technological limitations of today. https://t.co/TtIh41zz3F
— Willy Woo (@woonomic) February 1, 2019
The sentiment echoes a recent tweet storm from crypto startup veteran Dan Held, who says Bitcoin was primarily created as a store of value and not as a replacement for payment giants like Visa.
7/ “In this sense, it’s more typical of a precious metal. Instead of the supply changing to keep the value the same, the supply is predetermined and the value changes. As the number of users grows, the value per coin increases” – Satoshi
— Dan Hedl (@danheld) January 14, 2019
Ripple and XRP
Ripple has hired the former HSBC general counsel to manage its legal, policy and Bank Secrecy Act (BSA)-compliance teams. Ripple CEO Brad Garlinghouse says Stuart Alderoty will play a vital role in shaping Ripple’s growth.
“As we continue to work with financial institutions and regulators across the globe to drive home the importance of fostering innovation while protecting consumers, I could not think of a better addition to Ripple’s leadership bench and our global legal team than Stuart.”
The new hire comes at a critical point for Ripple,