com Bitcoin is the new gold. According to a study, at least its digital version and correspondingly here's, why some financial advisors are therefore adding Bitcoin to client portfolios, not necessarily a bad move. Justin son, an altcoin buzzer on Io, is also in the news and has announced a secret project make sure to stay tuned to the end of this video as well for details about our giveaway coming up in just a couple of days on Saturday. Our crypto tag is Zeus, starter kit, giveaway of the week, but first let's launch into the market with a snapshot of things on coin Market, Capcom, we're down a little bit a few billion dollars off the recent high since yesterday sitting currently at 235 point five billion Dollars but coin down slightly, but still resting at eight thousand six hundred thirty seven dollars. Interestingly, Bitcoin sv is down not quite as much as I may have suspected still down about 20 percent in 24 hours. That sounds bad on the surface. However, it really just rocketed up out of nowhere to astronomical highs within about 48 hours, so a 20 decline in the last day, isn't all that bad, at least in my opinion, Bitcoin dominance right now back to the mark of the beast at 66.6. Here on, Bitcoin is calm, we're talking about a billion dollars worth of Bitcoin that was moved by one particular whale and what's interesting is that it seems to have correspondent with the rally that we've seen these last few days and about the time that Bitcoin and Bitcoin Sv were spiking by tree noted the transaction sparking a reddit discussion on its origins and goals.
A big fund transfers, usually cluster, around significant Bitcoin price moves, but finnex remains one of the biggest Bitcoin holders, despite the diminished influence of the exchange. While transactions of this size usually happened once every few months with large scale, transfers noted twice in 2019, if you're interested in following this kind of stuff, you can always check out the Bitcoin rich list which shows that beyond exchanges coin ownership has created various size of Large scale stashes wallets with a thousand Bitcoin, have grown as well a stash above actually 10000 Биткоин. If you can believe it and Bitcoin is more democratic in comparison to alt coins and tokens, meaning it's more widely distributed. So the reddit discussion that we referred to a moment ago, however, raised the question on the potential to contrast, vast wealth in case Bitcoin becomes more widely accepted. Биткоин, of course, is censorship. Resistant and the capability of moving large scale sums through the network means wealth can be controlled by malicious actors as well. In the end, be a good attention or negative attention. Large movements of Bitcoin by the whales always seems to correspond to movement in the market, usually positive and usually to the upside, and once again, that seems to have been the case here. In other news on forbes.com, a new study is showing us that bitcoin is indeed the new gold, at least its digital format. Article from the 15th of January surprise, surprise: bitcoin is similar to gold.
According to a lengthy working paper. Out of the department of economics of the university of pretoria quote is bitcoin the new digital gold evidence from extreme price movements in financial markets and the paper tests. A popular claim in the media that bitcoin has joined the ranks of safe haven assets. These are assets where investors place their cash at the time of growing global uncertainties as they flee risky assets. Like stocks, two important findings stick out above the rest. First, they confirm the findings of previous studies that the correlation of extreme returns increases during stock market crashes and decreases during stock market booms, and secondly, they confirmed bitcoin is a hedge against turbulent times quote by combining each equity market with Bitcoin. We find that the correlation of extreme returns sharply decreases during both market booms and crashes, indicating that bitcoin could provide the sought after benefits of diversification during turbulent times said. The author's. The only real downside is that in a total end of the world, apocalyptic scenario, Bitcoin actually may have some challenges. Of course, if the internet is shut down, Bitcoin won't have a leg to stand on and in that case gold may well win. However, my contention is that in that situation we have other things to worry about check out this article and the study in full, also on Forbes and perhaps correspondingly here's – why some financial advisors are adding Bitcoin declined portfolios here is the new report which we will link To the bitwise ETF trends, 2020 benchmark survey of financial advisors, attitudes towards cryptocurrencies and is looking specifically into how financial advisors think about Bitcoin and other cryptocurrencies, notably.
The report indicates that roughly about 9 of independent registered investment advisors are, I guess, currently allocate a percentage of client funds to crypto assets and, according to the report, the rate of crypto investment among independent, our IAS is higher than the rates found with financial planners wire House representatives and broker dealers due to the relative lack of restrictions, independent RIAA, face in terms of the types of investments they're able to make on behalf of their clients. Bitcoin is attractive to financial advisors, for a variety of reasons. According to the report from bitwise and ETF trends, about 54 of financial advisors view bitcoins, lack of correlation to other assets as a reason to add the crypto asset or one of the altcoins to client portfolios quote that finding aligns with bitwise is qualitative view of how The primary narrative surrounding the investment aspects of crypto evolved in 2019. The report adds, but of course, as you can imagine, there are some major problems and roadblocks standing in the way of broader adoption. These include, as highlighted by the report at 56 regulatory concerns, 43, feel that it's too volatile as an asset class 41, feel they have no idea how to value crypto currencies or that the rest of the market at least has no idea how to value them. ' feel the lack of easily accessible investment vehicles like ETFs or mutual funds, is a problem at 34, custody concerns or fear of hacking and at 31, a general lack of understanding.
And while I readily acknowledge the fact that these are some problems that still have to be solved, the trend nevertheless, is that financial advisors are increasingly attracted to the world of Bitcoin and cryptocurrency. If nothing else, for the sake of diversification alone. But I think there's a little bit more to it than that check out the full report here: we'll link to it in the description below it's about a 15 or so page, read and overly dense, so it's a good one check it out and finally, for today We are discussing Justin Sun on altcoin buzz dot IO, who has announced a secret project article here by natalia justin's son, is intriguing the community yet again Tron's founder justin sun has announced a secret project related to BitTorrent and D live and in an announcement which appeared On Justin's son's Twitter account Ron's founder said he will launch a secret project that will bring multi billion dollar benefits to the TR X and B TT ecosystems and according to Justin, this project will help attract a hundred million new users. He tweeted the following back on January 12, Tron to launch a secret project that creates multi billion benefits for BTT and TRX ecosystem. The project will add at least a hundred million new users to the ecosystem. Details are scant at this point and many believe that this is more of a promotional gimmick for D live than anything. Of course, if you don't know about D live, it appeared back in September of 2018 and it grew quickly in popularity due largely to its partnership.
With PewDiePie he is YouTube's, most watched internet celebrity and pewdiepie supported, Tron D live and BitTorrent, and even more a Tron shirt in one of his episodes and Justin's son commented on the partnership quote. Famous youtuber PewDiePie has decided to livestream his content on one dab from Tron's ecosystem D, live claiming that the platform takes less from creators and overall allows for more interactive experiences between fans and streamers. Now, don't get me wrong. My default stance is not against Justin, Sun or Tron. I hope they both succeed. However, I'm, not getting a lot out of this announcement and to be able to talk about PewDiePie and D live and 100 million users is one thing, but details aren't exactly plentiful here. If you check out the link on news, logical comm, there is a little bit more information there, but not a whole lot. Basically he's just indicating that hey, I have an announcement and that it's a future announcement is going to make more sense about this project. That I'm planning and there will be multi billion benefits created for a new TRX ecosystem, whatever that means so let's stay tuned. I think, however, Justin's son – and even I think this is being fair to him – has a history of being very verbose being very talkative when it comes to announcements and partner chips and whatnot and hey, I hope, there's a lot of prosperity in his future as well As Tron's future I'm, an investor after all, however, perhaps as an investor I'm holding him in the organization to a higher standard, I'll be in support of this when more information comes out I'd, just like a little bit more detail, that's all.
Let us know your thoughts about it in the comments below, but that about wraps things up for us today. Everybody do be sure you're following us on all the regular social media channels and keep checking back into altcoin buzz dot IO for all the latest. Go ahead like subscribe, share and hit the bell to receive notifications. If you've enjoyed today's video don't forget about our giveaway. This Saturday we're giving away a crypto tag. Zeus, starter kit: all you have to do is like the videos between this upcoming giveaway and the last make sure you subscribed to altcoin buzz dot, IO and comment on videos. We will be selecting first, a video and then a comment at random best of luck.