Noting that a recent study cited in the Wall Street Journal found that women make up less than 25 percent of deposits into US brokerage accounts, Robinhood added, “we’re excited by the potential of cryptocurrency to help democratize finance for all.”
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Robinhood CEO Vlad Tenev faced some tough questions after cutting off GameStop buys—now congress is asking them again (Photo: CNN)Robinhood probably profited from traders ‘protesting with Dogecoin’
The exchange apparently became the world’s top Dogecoin holder thanks to its users investing in the coin
When Robinhood temporarily barred its retail customers from buying GameStop stocks, purportedly as a reaction to reddit’s r/WallStreetBets community buying it in an attempt to squeeze out the major hedge funds shorting the video game retailer’s stock, many decided that they would protest by buying Dogecoin instead. However, the plan may have backfired in a big way, according to blockchain analytics firm Elliptic’s chief scientist and co-founder, Tom Robinson.
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Investor Raoul Pal says Bitcoin is "destroying all other assets in the world" (Photo: Digital Cayman)Bitcoin is ‘basically eating the world’: Renowned investor Raoul Pal
The Real Vision founder said that Bitcoin is attracting so much attention he has ‘become irresponsibly long’ BTC, ETH, and a few other cryptos
“Bitcoin is destroying all other assets in the world, and I have never seen this before in my career where an asset has drawn the attention of the likes of Elon Musk and mainstream institutions like no other asset," Pal said. Compared to gold, he added, Bitcoin’s “fixed supply along with its scarcity and its behavioral incentive explains its growth.”
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Bitcoin too volatile to be store of value: Goldman Sachs exec
The head of the bank’s Investment Strategy Unit also argued that “something with a long-term volatility of 80% can’t be considered a medium of exchange.”
In a recent briefing on Goldman Sach's 2021 outlook, Sharmin Mossavar-Rahmani, head of the firm's head of the Investment Strategy Group for the Consumer and Investment Management Division, poured cold water on the idea Bitcoin is a new digital gold, saying, "just because everybody piles into an idea and talks it up doesn’t mean it’s a store of value.”
