BTC Is Genuine Safe Haven, Potential New All-Time High by End of 2019

Lee also added that Bitcoin has “done very well this year”, reminding the audience that last December its price hovered around $3,000, and since then rose to the $10,000–12,000 levels.

The Fundstrat analyst also noted that Bitcoin is “really uncorrelated to equities, to bonds, so it’s a good diversification hedge.”

Senior analyst at market strategy and sector research company Fundstrat Global Advisors Tom Lee is confident that Bitcoin became a genuine safe haven for investors.

When asked directly “whether Bitcoin is a genuine safe haven” during an interview on the Fox Business channel on Aug. 15, Lee confirmed his position:

“Yes. You can see it in markets. Where there’s turmoil, the local Bitcoin prices tend to surge and trade at a premium, because people are trying to find ways to protect their money. So yes.”

Bitcoin is a good diversification hedge

According to Lee, currently Bitcoin “is just resting”, and can show a significant rise in its price by the end of 2019. The analyst added:

“I think it’s going to be much higher by the end of the year, and potentially at a new all-time high. I think anyone who wants to have a 2% or 1% allocation to Bitcoin as a hedge against a lot of things that could go wrong – it’s a smart bet.”

Crypto community hopes for the better

Previously, Cointelegraph published a report about the three main reasons reasons Bitcoin is turning into a global safe haven for investors.

Ether (ETH) is also most likely to trade above $1,000 again in the future, according to the global cryptocurrency Twitter community.

Transfer Agent Vertalo Chooses Tezos Over Ethereum for Security Token Development

Transfer agent Vertalo wants its customers to issue securities on the Tezos blockchain.

The company has made Tezos its default blockchain, encouraging customers to switch over from ethereum. It has developed the ability to convert ERC-20 tokens to Tezos-formatted smart contracts, though it will still support ethereum.

“We think that that covers 99 percent of the security token and smart contract landscape for equity and debt”, said Dave Hendricks, CEO of Austin, Texas-based Vertalo.

With 18 customers on its platform currently, Vertalo issues digital securities and manages data for the broker-dealers, issuers, custodians and exchanges it connects. It also manages cap tables for startups and allows them to tokenize shares with the company’s REG D V-token.

The company has chosen Tezos because its smart contract abilities are available in multiple programming languages, Hendricks said. He also cited Tezos’ rate of transactions per second, stable network of participants and the collateralization opportunities offered by being a proof-of-stake network.

“A real estate fund managed via a Tezos security token could simultaneously pay out a staking-based dividend next to an asset-secured dividend as is traditionally paid in investments like real estate investment trusts, an area that is a key focus for Vertalo and other security token platforms around the world”, Hendricks said.

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