 Welcome to Digital Asset News, take a top story in Crypto Currents Digital Assets and break it down into bite-sized pieces. Today we've got some concerning news, but it does make a lot of sense. BlackRock sells dollar for Asian currencies into U.S. vote and what's going on here is they are essentially shorting the dollar and this isn't a big deal unless you consider that BlackRock has almost 8 trillion assets under management also. MasterCard CEO says Bitcoin makes people scared. I have to disagree. I think what makes people scared is comments like that. Kraken CEO Jesse Powell rings out the truth and says DeFi scams should take their losses and basically what he's saying is that they need to do the things to make them successful because over the last month or two we've seen a lot of DeFi projects not only fail but take a lot of people down with them. And we'll go over all that plus question of the day which comes from Jake which asks a pretty good question which is if everybody moves from gold to Bitcoin should I even really have any gold? So that's all coming up plus what's going on in the market but first I want to make two announcements. First up Voyager I had CEO Steve Erlich on last week and he had said that changes were coming and that they're working diligently to be able to have cryptocurrency and certain digital assets be taken off the platform and I just asked him when's there going to be Cardano and he said soon. And here we are today announcement that Cardano is now you are able to take Cardano off of Voyager platform. So this is just one of those things that he had said is going to happen and it did. Also he said that the airdrop for XRP for the spark token is also going to happen before the actual airdrop so we will see how that happens but he did say give me two or three weeks and this is just one thing so thank you Steve for actually doing what you said you were going to do. Also before the big presidential election here in the United States I'd like to get somebody from votes on. Votes is a topic that we had covered about a month ago or so and this is using blockchain to enable voting through your mobile app and I think it's a fantastic concept so I've already tweeted out to these guys to see if they would come on but if anybody knows anybody or knows something about them or just reach out to votes and say hey come on digital asset news because I'd really like to get them on here and see how that works with blockchain voting because I think it could be the future. All right so the market so today it is October 27th it is about 3 p.m. Texas time things are getting late but a lot of things going on just getting to this so what do we got well Bitcoin is doing fantastic it's a four and a half percent sixteen percent for seven day average and we're looking at 13.6 and the question that I had was is Bitcoin going to break through 14k I mean if it is that's that's like a real true bull run territory let's see if it actually happens I think it can but who knows let me know you're in the comments actually you think it actually happened before this weekends or do you think that all the traders in the whales are gonna take a bunch of profits and push it below 13 that'll be interesting Ethereum above 400 up 2.7% like that tether is that sitting around 16 billion market cap so that's great I suppose XRP at 25 cents market cap 11 3 Bitcoin cash is sliding into that number 5 spot at 1.7% up at 263 and if you notice something the 5 6 and 7 and even really the 8th spot I mean there's really a miniscule amount really separating them all they're all around that 4 billion market range so we'll see as that fluctuates throughout the week but everything's up everything's up today it's a good day what can I say I mean it here's a thing it's a good day for most people for me it's kind of a depressing day because this is one of those days while I was kind of open that yesterday we continue that downward slide so I can keep accumulating at great discounted prices but wasn't meant to be I mean I still gonna dollar cost average but you know I was kind of hoping to do less less price action but hey it is what it is so congratulations today for some people and other people like me is like man I because I know where this whole space is going so I'd like to buy it cheaply as I can I'm doing for the last you know three years so I guess at some point I'm gonna have to just give in the fact that we are gonna hit a pretty big bull run I know it's weird to hear that like oh we're in a bull run how awful is that but you know I just see where it's going I'd like to accumulate more but here's what it is and what else we got anything really have a killer uniswap up six and a half percent that's good I suppose 3.6 for Celsius again this is one of the ones I really want to pick up a lot of but I'll still pick it up but now I to pay 3.6 premium I guess we look at it like that 8.4% for compound so everything's you know fluctuating pretty well and you know we're seeing in the top 10 major green so I like to see that anyhow let's jump into today's top stories before I jump into it I just want to make mention that ledger is running a promotion right now so if you don't have a ledger or you want to pick up another ledger like I have for myself because I don't like to you know keep everything in one place I'm just weird like that but if you want to pick one up just enter in the promo code digital asset news and it'll give you 20% off do all you do is once you're checking out little discount code right here just type in digital asset news click apply and there you go 20% off so just want to let you know and you can pick one up for on the cheap alright let's jump in today's big story so BlackRock is short the dollar that's interesting and I'll tell you why this is the first report on Bloomberg and states the world's biggest money manager is shorting the dollar on expectations that unprecedented fiscal and monetary stimulus will prolong its losses regardless of who wins the US election this is true true true true people ask me well you know who thinks you know when and how is it going to affect the market crypto digital assets and you know I mean to a lesser extent the traditional market which I don't really care about and really you have to look at like this it doesn't matter who win who wins in the short term it's all about what's going to happen a long term and whoever wins that will not matter so really if you look at it if Donald Trump wins then it'll give a little bit of an artificial bump and it'll still go down if Biden wins there'll be a little bit of a sloth it like might come up a little bit but it will still go back down so it doesn't matter the short term I don't really care the long term you cannot keep quantitative easing you cannot keep printing money you cannot have a reduction in GDP you cannot have so many small businesses close and so many people out of work and then to a lesser extent the market to keep pushing forward there is a huge disconnect between the economy and the traditional markets but at some point the fiscal policy will eventually catch up and again so I don't care who really gets elected in the long grand scheme of things things are going to go down in the traditional sense and that's why it is a great time to be in crypto currencies digital assets because just like Shamath Ali Abattaya says he goes this is schmuck insurance this is when for the traditional market when it goes down it's to to be that hedge against all the chaos that is eventually going to happen so again doesn't matter who wins it's all gonna go the same way anyhow black rock ink holds a modest short in the green back against the likes of the Chinese Yuan Indian rupee an Indonesian rupee I think I said right said Neraj Seth head of an Asian credit in Singapore the three Asian nations are among those best positions to benefit from a weakening dollar as investors seek out higher yielding assets and growth you have to understand because they're showing a dollar doesn't mean they're gonna make a ton of money but however that might not be true because remember black rock they have almost a trillion assets under management 7.43 as of 2019 so maybe this year maybe they hit that 8 trillion so it's a lot of money a lot of smart money that could potentially be in there so there could be a windfall with with just the massiveness as far as investments go on Monday black rock strategist downgraded their views on treasuries surprise on growing likelihood of significant fiscal expansion under a unified democratic government so you have to understand it's not so much that they're shorting the dollar right here I mean that's that's just what what they're doing but what it is is it signals the rest of the massive institutional foundations to go look black rock is doing this so maybe they know a little bit something that we don't mean we always suspect that but they're really getting into it so maybe we should and then another institution says hey look what those are doing then we should never just becomes a reciprocating flywheel of information and they just start to really game a man and before you know it the dollar is really getting short or shorted which leads to consequences down the road so in my humble opinion this is great because the worse that the dollar does the better that Bitcoin cryptocurrencies and digital assets will do so if you have a huge entity such as black rock saying dollars going down we're gonna short it you can see other people do the same thing other corporations and then on and on we go so how long do you think it is before all those corporations that are sitting on a pile of money goes you know what just like micro strategy and just like Square did we should probably be getting to this game because we are sitting on as Michael Saylor calls it a melting iceberg so let me think of the comment section let's move on next up mastercard CEO says Bitcoin makes people scared and I mean if you're scared of making profits I suppose but in all honesty I have to say that I have to bring this up because these are the types of questions that people are going to ask you as time moves forward and we really get in that parabolic bull run I think we can all feel it right now there's a big momentum shift and I think 2021 is going to be one of those which is one of those years so you're gonna have to be one of those people that has to explain Bitcoin to your friends family and loved ones even after they ridiculed you for investing in the cryptocurrencies let's just be honest so let's dig in this article so mastercard CEO Ajay Banga that's a good name took a swipe at Bitcoin the world's largest cryptocurrency during the virtual Fortune Global Forum today or 2027 Banga prefers central bank digital currencies or CBDCs over Bitcoin surprise since he believes that they are better at improving financial inclusion around the globe and I was when I first read this I just did a live stream today on theta and I asked this question I said are CBDCs really that great for financial inclusion I mean they are stable let's be honest but the problem with CBDCs that I see is that you can confiscate them you can take them over you can freeze them and for governments that are out there that are doing this all the time this is a bad proposition for the people who are on bank now look it's better than being you know on bank to have something but in all honesty for censorship resistance CBDCs are awful and then it really all depends on what the CBDC is actually back with if it's the central bank of that government then sometimes the government themselves are bankrupt so what is that really being backed up against and then if it's backed up against the US dollar I mean we just saw a nice little story about shorting a dollar and then how I mean really the dollars be going to weaken so is that so good let me think of the comment section I just don't see it anyhow the CEO said the wild swings of cryptocurrency makes people very scared and sure I mean who wouldn't be scared when if you bought Bitcoin last month and you spent you know 11,000 and now it's almost 14,000 that's scary that's scary to make all those gains he says here can you imagine someone who is financially excluded trading in a way to get included through a currency that could cost the equivalent of two Coca-Cola bottles today and then 21 tomorrow that's not a way to get them included that's a way to make them scared of the financial system okay there's so there's two things first of all let's say we're in a third world country right and we have a charity set up and we give away 20 Satoshi whatever it is 100 Satoshi's it doesn't matter and then and we did this at the beginning of October and now now they have like 20 Satoshi's they got like 30 Satoshi's like wow I just didn't do anything and I just gained all this money this is fantastic now as opposed to like like a CBDC and then it's it's just stable maybe it's backed against a good currency that the government is kicking out maybe it's not so that's one of those things where it's like to increase that would be very scary no wouldn't be awesome however on the flip side it is very true we just saw what happened to Bitcoin during the coronavirus outbreak in March and we saw it go from robust nine to ten thousand all the way below four thousand so that is one of those problems I mean once you see is XRP that thing hasn't fluctuated at all it's been like a quarter I talk about all the time so that would be so bad but again as far as like censorship resistance you can censor a central bank digital currency they can freeze it they can stop it they can do whatever they want to Bitcoin does not allow that so I think that is the much superior option and then here's another thing and I actually got this from the theta livestream someone said the same thing with stocks you know if you want to be talking about how awful these financial instruments are stocks are the same way you buy for a dollar maybe it goes at 200 bucks or maybe it stays at a dollar goes a little bit down they're all financial instruments so want to just use the ones to the best of their abilities and you ought to finish up this wasn't the first time bank said this back in 2017 they said the exact same thing use that bottle analogy which I think is kind of weird but he says if I pay for a bottle of water in Bitcoin one day it's two bottles for a Bitcoin the other day it's 9,000 bottles this does not work any currency needs stability and transparency otherwise you will get the illegal activities in the world well we know I'm gonna say about that I mean if you want to look all illegal activities and what is being financed that it's the US dollar so don't give me that nonsense and the second thing is that over time Bitcoin has been a excellent store of value and look how much it has improved just this year alone so if you're going into an area third world country that is unbanked maybe Bitcoin isn't the the most fantastic idea as far as stability from day to day to day operations sort of value it's fantastic maybe there's something else I just don't believe that central bank digital currencies are gonna be the answer especially with censorship resistance let me know what you think in the comments section let's move on to our next article next up DeFi scams should take their losses Kraken CEO Jesse Powell states and this is a pretty good one it's like gangster move by Jesse here so Kraken CEO Jesse Powell lambasted or skewered we're gonna call it DeFi scams for rushing their rollout and then expecting exchanges to bail them out as soon as things go south Powell adds that these projects that fail to invest in insurance and audits have to take their losses in order to be enlightened and this is the comment that was put here I'm not gonna go to the Twitter one because it's a lot more colorful language so this is the basis of what he says he goes I will not accept your attempt at externalizing the cost of your hasty reckless rollouts invest in audits insurance and please do your research taking your losses is the only way to enlighten it and so here's the issue with with these DeFi projects Cronhey and the rest of those people who actually make up DeFi first of all I like DeFi things to be fantastic I just don't agree with rolling it out and out without testing it and allowing people to get into it and lose a bunch of money obviously you know freedom reigns if they want to go out there and do whatever they want but a lot of people got wrecked and they didn't really know what the heck they were doing so I guess it is a learning experience and that's why I will always be on this channel to tell you the exact same thing don't chase shiny objects that's it but this keeps happening again and again and again I can understand you know like okay first time all right for me once shame on me but in all honesty it's just getting a ridiculous I mean this is like I mean we just covered one yesterday another DeFi product I even forgot the name there's been so many that they were hacked for 24 million and the hacker returned 2.5 which is crazy but whatever so let's just do a little timeline dance so this is just a little history of failures so in early August yield farmers deposited more than 400 million to an unaudited protocol called the AM finance remember that gone I mean maybe it's still around I'm not for sure but lost a ton of money then then there was a unit swap fork sushi swap what happened there I think we all remember the master chef just took off with the money and I only know is sushi even the top 100 let's take a look let's see sushi 115 so that's quite a fall from where it was before let's just take a look real quick see where it's at hey 68 cents it's up 10% today it's pretty good so let's just see where it was before and this doesn't look caught so here was I think it's hide it was how much 11 bucks wow pretty good and then so here's the thing about DeFi you can make a lot of money but then you got a lot of people holding the bags so if you're into that that's cool I'm not but you can get a shot and then here's where it went to and then to say so down here so yeah so there's that so you swap and then they managed to outdo themselves by pouring millions of the eminence the untested protocol of your and finance founder and right Cronhey only be hit by a hack within the same day so it just it boggles my mind how people just keep buying into a buying into buying to and for what just so you can gamble and see if you can make money out of it and it's like playing musical chairs but a lot of people they get the chair pulled on underneath them and there's only so many people that can actually walk away with a profit and a lot of people don't so to Jesse here to Kraken I like Kraken a lot anyhow I mean they got that banking license in Wyoming so I'm really happy for them and good about that I like to see someone speak out about these projects because it's just ridiculous in all honesty it's actually if you think about it it's a lot let it's a lot better than those leverage trading platforms which do like 50 or 100x at least for the DeFi you only lose your money when you have leverage programs where you're trading at leveraged amounts 50x 75x whatever else it was a lot of money so I guess in that regards I can to me I think leverage is one of the worst but let me know what you think in the comment section let's move on to our last piece so last piece is Q the day and it's pretty good it's about gold and Bitcoin it was a great question by Jake so I thought I'd throw it in there because needs to be answered let's jump in the office I would be welcome back to the office it is a brisk cold day here in El Paso Texas it is actually snowing it's a very strange day so that's why I got this fantastic sweater on anyhow so this the Q the day it comes to us from Jake Jake looks like he's from the army welcome Jake and thanks for your service bedroom myself so let's see what he has here so Jake comes up it's pretty good question he says hey Dan I watch your channel every day and I get so much out of it great thanks for watching first of all my question is in reference to the statement that portfolios nowadays should consist of gold similar Bitcoin this is what I was talking about yesterday a couple days ago a couple weeks ago a month ago is that I think that everybody should have gold silver Bitcoin in their portfolio and he says is there any expectation that is Bitcoin goes up that gold holders will trade into Bitcoin and the gold price will fall and no longer remain a good store of value I'm trying to determine if I should be investing in gold and all or only cryptocurrency thanks for your time look forward to hearing from you so it's actually a great question and if my man Peter Schiff was here he would tell you of course that's Bitcoin and digital assets are just stupid so they even try it but thankfully he's not he's got his own problems and I will just say that for me I still believe that you should have a little gold silver Bitcoin not because I'm just not a fan of putting all your eggs into one basket if I just had one stream of revenue I think that would really hurt me especially with what's going on with the pandemic and everything else and a lot of people out there they only have one stream of revenue they have their J.O.B. which if you know what J.O.B. is it stands for just overbroke and I never like jobs I never like really working for somebody else and it just sucks but not to get off topic it's good to hedge your bet that's why I have a lot of digital assets and cryptocurrency so when I when he says well you know it's going to just kind of fall by the wayside and people would just get more into Bitcoin they will definitely they will but again I still think that you should put some of your money into gold now if you're a gold bug I'm gonna appeal to you too I think you're you're doing a mistake you are mistaken you should hedge your bet and I mean gold might go up let's be honest it might go up especially what's going on but you will never have the returns that you could potentially get in digital assets cryptocurrency and specifically if you want to you know name one Bitcoin so yes gold might go up to 2,500 4,000 I have no idea but Bitcoin could go up to if you watch yesterday's video go up to 500,000 and right now it's at 13,000 could it go up to only 20,000 yeah but I mean look if it only goes 20,000 you just gain $7,000 and you know let's say it was 26,000 you doubled your money I doubt you're gonna be able to do that with gold it's still a great source so the question is pretty good and then there's one more thing I was thinking about which was this if you have to look at what is going on behind the scenes who has all the wealth in the world and going away from the different theories there's a statistic out and it says that 60% as baby boomers age their percentage of total US wealth has increased from 20% to nearly 60% as far as the US wealth well I don't know what it is around the world but baby bloomers depending on what statistic you look at somewhere and they're you know 58 years old and up 62 and up I can't always remember how much this could I was get a little confused but the older generation has most of the wealth in the United States just how it is and they have been brought up on a principle which is gold is something that you need to have as a store of value so as time goes on yeah some will get it some will understand but some will not and they will just stick with gold so again I think you should put some in gold but do I think you should put all in the gold or a majority no I think it's an asymmetrical investment which is Bitcoin cryptocurrency is a last it so I would just go that route anyhow I hope that answers your question now I can't really give you a percentage wise because that's all that's up for you but for me I am heavily into cryptocurrency and also you know real estate and businesses so as far as a percentage it's all up to you for me me personally I think I would go a little bit higher on the crypto that's really all I can really tell you not a financial analyst or financial planner so anyhow hope that answers your question let's jump back all right so that's it so thanks for sticking with me two things first don't forget if you want that 20% offer ledger just use digital asset news when you check out get you know not a bad little discount there and then also since we're here at the end I want to give shout outs to people who signed for digital asset news really appreciate it and just some random stuff especially for the new ones so friends brawn hey buddy TV by Dan zoo Ignacio Mella Frankster or Maya Denise Chet Tom Cochran Sam Keith sergeant crypto he's got a YouTube channel you checked it out and then Johnny Bitcoin so thanks so much for signing up really appreciate it if you like those types of videos there's gonna be two months gonna pop up on your left and right I'll let YouTube do their magic and figure out which ones are best for you and that is it so thanks for watching appreciate it and see you in the next one