Related Reading | TA: Bitcoin Faces Another Rejection, Here’s What Could Trigger Nasty Declineįeatured image from Pixabay, Charts from TradingView. While institutions continue to get involved, retail growth likely looks to continue on to the DeFi scene as well – showing a bright future ahead for Celsius and for the broader yield-generating platforms on the scene. Part of that yield-generating machine is a $200M investment in mining, powered by green energy, according to a recent news release. When asked about Celsius’ competition, Mashinsky said that the competitive advantage relative to BlockFi and other yield-generating firms came down to being the lone company that has five sources of yield. | Source: BTC-USD on “The Future Of Finance”ĭeFi continues to shake up the scene. “Celsius is a HODLer’s community”, Mashinsky added.Ĭelsius has collected over $700M in loan-generated interest from institutions, with roughly 80% being distributed in yield to retail consumers – “that is the real Robinhood”, Mashinsky said.Įlon Musk’s tweets have been a source of speculation around bitcoin’s recent pullbacks. Morgan pays you”, Mashinsky said, referencing many stablecoin APYs that are seen in yield-generating markets today. “You can 9% almost 100 times more than what J.P. In the interview, Mashinsky cited that banks’ lack of interest rate aggressiveness have been a major factor in Celsius’ success. The company also recently passed 800,000 retail users. ![]() Related Reading | Celsius Network’s CEL Token Now Listed On OKEx Celsius’ BuzzĬelsius is fresh off of news of surpassing $17B in assets stored on the platform, as well as hitting a new company-high in BTC holdings. Mashinsky wasn’t the only crypto advocate sharing this sentiment, either notorious bitcoin bull Anthony ‘Pomp’ Pompliano said at the conference that “Elon continues to tweet, the price of bitcoin continues to stay lower than it probably should, which gives all of the plebs the opportunity to buy up cheap bitcoin”. A number of crypto advocates have grown weary of Musk’s sentiment, with some suggesting that Musk’s intent could be market manipulation. Nearly a month ago, Musk cited the use of coal as a major concern leading to his decision to pull the plug on allowing bitcoin as a method of payment for Tesla customers. The tweet follows a ‘bearish behavior’ around bitcoin from the Tesla CEO. With a quick question out of the gate around Elon. I don’t think he’s here to make the world a better place, and we can go to where we’re going with Elon or without Elon”.īitcoin fell over 5% following Musk’s “break-up” tweet earlier in the day. Celsius CEO Alex Mashinsky sat down live at Miami’s Bitcoin 2021 Conference with Yahoo Finance for a brief discussion on Celsius, Elon, and more. “Elon is a tourist in crypto”, Mashinsky stated, adding that “he’s here to collect followers. With a quick question out of the gate around Elon’s latest Twitter chatter, Mashinsky didn’t hesitate to share his opinion. Celsius CEO Alex Mashinsky sat down live at Miami’s Bitcoin 2021 Conference with Yahoo! Finance for a brief discussion on Celsius, Elon, and more.
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