OpenBazaar reached $5 mln mark in a series A round

Bitcoin marketplace has gained support from Bitmain along already participating Union Square Ventures, BlueYard Capital, Digital Currency Group
14 March 2018   1056

OpenBazaar managing company, OB1 has announced it successfully secured $5 mln of a series A round. The round was headed by the venture capital arm of OMERS pension fund - OMERS Ventures. Among the backers Andreessen Horowitz, William Mougayar, Union Square Ventures, BlueYard Capital, Digital Currency Group there was a new investor - Bitmain.

OB1 allows individuals, living anywhere, to buy and sell as part of a truly global marketplace. We are excited about the potential represented by OpenBazaar’s decentralized peer-to-peer protocol, and are thrilled about the various implementation paths that Brian and the rest of his team are pursuing.

 

Jim Orlando

Managing Partner, OMERS Ventures

The official release also explains the key points of the ongoing development: enhancements in terms of user flexibility and control over the means of the sale and purchase of products online. The 2018 plan also includes the launch of both web and mobile applications and new features like trade requests and operations with other cryptocurrencies. In early 2018 the platform already implemented Bitcoin Cash and Zcash services. This week was notable with the release of Verified Moderators program.

Our goal is to see the OpenBazaar protocol and software empower business owners and consumers alike to shift away from the corporate-controlled legacy systems and engage in ecommerce in a free, fair and independent way.

 

Brian Hoffman

CEO, OB1

Bitcoin May Pass Gold Market Cap, - Novogratz

Mike Novogratz continues to be Bitcoin and cryptocurrency optimist 
25 March 2019   106

The founder of Galaxy Digital, Mike Novogratz, expressed the opinion that over the next 20 years, Bitcoin’s capitalization would “easily” surpass the gold market, currently estimated at $ 7.5 trillion. It is reported by The Daily HODL.

In a conversation with the founder of Morgan Creek Digital, Anthony Pompiano, Novogratz stressed that the inflow of institutional money to the cryptocurrency market is only a matter of time, and major players like Goldman Sachs and the Intercontinental Exchange (ICE) are already mastering a new industry.

I know Goldman for instance is gearing up around securities tokens. They’re not doing anything yet, but they’re getting really ready and looking at all the questions on – where would you store them? Do you have to build your own custody, or can you use someone else’s custody? How to get them to work.
 

Mike Novogratz

Founder, Galaxy Digital

According to him, the growth potential of Bitcoin is strong and therefore it is advisable for investors to include the first cryptocurrency in their portfolios:

I think the macro case for [Bitcoin] is pretty strong. And so, if you can put a couple percent of your portfolio in, there’s a decent chance it catches wind. Fidelity is just getting set up. Bakkt continues to get delayed a little bit, but it’s not going to be delayed forever. They’re going to be in the game. And there’s lots of other players coming.
 

Mike Novogratz

Founder, Galaxy Digital

According to him, the volume of the gold market is $ 7.5-8 trillion and in order to outperform this market, the first cryptocurrency needs to grow in price at least 100 times.

Gold’s got an $8 trillion market cap, or a $7.5 trillion market cap. And so, we’re 100x off on that. We’re not going to get there in Bitcoin in the next year or two. But over a 20-year period, could that happen? Easily. Easily. And that’s giving zero optionality to all the other stuff. And so I think it seems like a pretty smart portfolio bet.
 

Mike Novogratz

Founder, Galaxy Digital

The founder of Galaxy Digital also touched on the topic of bitcoin futures.

The reality is, the CME kicked their butts. And these guys have limited resources on what they’re going to spend their focus, and they decided to spend it elsewhere. Finding leverage in Bitcoin is going to get easier as the architecture in the space gets better. You’re already seeing the lending market around Bitcoin went from 10% to like 3%. So once you can borrow you can short. And so now it’s not so hard to short Bitcoin. It used to be almost impossible to short Bitcoin in 2016… It wasn’t great, but it’s not critical. 
 

Mike Novogratz

Founder, Galaxy Digital

In February Mike expressed the opinion that, thanks to institutional money, Bitcoin will reach $ 8,000.