Bitcoin is rising and likely to replace gold

September 28, 2018 - 01:59
Bitcoin is rising and likely to replace gold

HONG KONG, CHINA - Media OutReach - 28September 2018 - In the middle of August, about 20,000short positions increased but only 3487 speculative long positions increasedfor COMEX gold futures, which is the first instance where the net long positionfor gold has changed into net short position ever since 2001. As a preferredchoice for hedging, gold always enjoys an unshakable position. The above datashows that the rising of a new power represented by the digital currency likebitcoin poses a threat to the old power represented by gold.


Even inthe bear market in 2018, the transaction volume of bitcoin exceeds that ofgold. Digital currency derivatives and financial services bring in an emergingmarket valued at hundreds of trillions of dollars. Meanwhile, Mars DigitalAsset Bank launches diversified digital asset financing products includingfixed/variable term financing, private banking, pledge financing, minerfinancing, digital insurance, and contracts for difference. As a leading player, Mars Digital Asset Bank is expected to have over 300,000registered users, accumulated business scale of USD 1.5 billion and totalprofit of USD 18.65 million by the end of 2018. With the upgrade of theblockchain technology, Mars Digital Asset Bank will embrace more new businessmodels and enjoy rapid development.


Inresponse to capital requirements on technical security, global promotion, teambuilding, license applying and provisions for banking turnover, Mars DigitalAsset Bank plans to raise USD 9.5 million by releasing 8% of its total sharesin the first phase of offering.

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