Football icon **Ronaldinho** has again shown his support for cryptocurrencies, tweeting "**Time for crypto to go mainstream, who's with me?**" This tweet, while not mentioning any specific cryptocurrencies like **Bitcoin** or **Dogecoin**, has caught the attention of the crypto community.  This is not Ronaldinho's first foray into Web3; he previously launched his own NFT series and has been associated with **Baby Doge Coin**.

Ronaldinho's recent endorsement comes at a time when many celebrities are promoting cryptocurrencies, raising concerns about **scams and rug pulls**.  This trend highlights the growing interest in cryptocurrencies, but also underscores the importance of **investor caution**.

Brazilian football legend Ronaldo de Assis Moreira, better known as Ronaldinho, sounded bullish on cryptocurrencies with a recent post on X, formerly Twitter, part of a larger trend of well-known figures putting their weight behind what is still regarded as a volatile asset class.
What Happened: On Sunday, Ronaldinho, widely regarded as one of the greatest football players of all time, wrote via his official account, "Time for crypto to go mainstream, who&#039;s with me?"
Though the icon didn&#039;t name any particular coin like Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>) or Dogecoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/doge/usd">DOGE</a>), the short endorsement was enough to grab the attention of the big army ...<a href=https://www.benzinga.com/markets/cryptocurrency/24/06/39449139/football-legend-ronaldinho-says-time-for-crypto-to-go-mainstream-is-another-token-themed-a alt=Football Legend Ronaldinho Says &#039;Time For Crypto To Go Mainstream:&#039; Is Another Token Themed After Him On The Way?>Full story available on Benzinga.com</a>

Loading...Loading...Brazilian football legend Ronaldo de Assis Moreira, better known as Ronaldinho, sounded bullish on cryptocurrencies with a recent post on X, formerly Twitter, part of a larger trend of well-known figures putting their weight behind what is still regarded as a volatile asset class.What Happened: On Sunday, Ronaldinho, widely regarded as one of the greatest football players of all time, wrote via his official account, "Time for crypto to go mainstream, who's with me?"Though the icon didn't name any particular coin like Bitcoin BTC/USD or Dogecoin DOGE/USD, the short endorsement was enough to grab the attention of the big army of cryptocurrency advocates. Evan Van Ness, a well-known Ethereum ETH/USD advocate responded to Ronaldinho's post, saying, "Wait until you hear about ultrasound money." Bitcoin maximalist Alan ₿ Watts said, "Bitcoin yes. Crypto no."The official X account of Baby Doge Coin (CRYPTO: BabyDoge), a BNB Chain BNB/USD-based meme coin that Ronaldinho promoted previously, responded with a funny GIF, hoping to profit from the latest endorsement.See Also: Michael Dell Interested In Bitcoin, Says ‘Scarcity Creates Value’…And Michael Saylor AgreesWhy It Matters: This is not Ronaldinho's first association with Web3 or cryptocurrencies. In 2022, he announced the launch of his NFT series, created in partnership with Graph Blockchain. NFTs also included special events and fan-exclusive experiences and fit into a larger context. The football legend's push comes amid an increasing number of celebrities shilling cryptocurrencies, either through word of mouth or by launching their own tokens.Over the past month, popular figures like Australian rapper Iggy Azalea and Olympian and media personality Caitlyn Jenner have boarded the bandwagon.At the same time, such promotions have sparked criticism, with concerns about hacking and rug pulls keeping traders on edge. Read Next: ‘Dogecoin Killer’ Shiba Inu Falters — Here Is What These Key Indicators Reveal About Its Short-Term ProspectsPhoto courtesy: WikimediaMarket News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

Football Legend Ronaldinho Says 'Time For Crypto To Go Mainstream:' Is Another Token Themed After Him On The Way?

Ronaldinho's Crypto Push: Is Another Token Coming?

It's always insightful to track the moves of the most astute investors on Wall Street. Recent **13F filings** with the SEC reveal a significant trend: a growing number of billionaires are selling **Nvidia (NASDAQ: NVDA)** and pivoting towards **Bitcoin (CRYPTO: BTC)**.

## Billionaires and the Bitcoin ETFs
The shift towards Bitcoin commenced in January with the launch of **spot Bitcoin exchange-traded funds (ETFs)**, providing institutional investors an easy avenue to access the crypto market. The excitement peaked in early 2024, but it was only after the May 13F filings that the scale of investment became apparent.

**Millennium Management LLC**, led by Israel Englander, made headlines by investing over **$2 billion** into Bitcoin ETFs, earning him the title of "king of the Bitcoin ETF holders." Other notable investors included **Digital Currency Group**, **Susquehanna International Group**, **Jane Street Group**, and **D.E. Shaw**. Meanwhile, billionaires like **Stanley Druckenmiller**, **George Soros**, **Lee Ainslie**, and **David Tepper** were offloading Nvidia shares in the same timeframe.

## Bitcoin's Long-Term Growth Potential
The crucial question arises: Why this shift from Nvidia to Bitcoin? Nvidia's stock has soared over the past two years, prompting investors to realize gains and seek new opportunities. Concerns over an **"AI bubble"** may also be influencing this sentiment.

Bitcoin, trading nearly **15% below** its all-time high, presents appealing upside potential. Investment firm **Bernstein** forecasts Bitcoin could reach **$200,000** by the end of next year. With its current price around **$63,000**, this represents a potential **300% return** in a short period.

For long-term investors, the outlook is even more promising. **Cathie Wood** of **Ark Invest** has set a **$3.8 million** target for Bitcoin by **2030**, while billionaire **Michael Saylor** envisions a price of **$13 million** by **2045**.

## Bitcoin and Downside-Risk Protection
Beyond its growth potential, Bitcoin is increasingly recognized as a store of value, akin to **gold**. This quality makes it an attractive asset during times of **economic, political, or geopolitical uncertainty**. Billionaire Stanley Druckenmiller has likened Bitcoin to gold, highlighting its reliability in turbulent times. Other billionaires like **Paul Tudor Jones** and **Mark Cuban** have echoed similar sentiments, underscoring Bitcoin's role as a hedge against downside risk.

## Nvidia or Bitcoin?
It's essential to note that the choice between **Nvidia or Bitcoin** might not be necessary. Both can coexist in a long-term investment portfolio. Interestingly, the correlation between Nvidia and Bitcoin remains high, with a correlation coefficient of **0.80** around the **Bitcoin halving** in April. This suggests that movements in Nvidia often coincide with Bitcoin's trends.

## Should You Invest $1,000 in Bitcoin Right Now?
Before diving into Bitcoin, consider the insights from the **Motley Fool Stock Advisor** team, which has identified the **10 best stocks** for current investment, notably excluding Bitcoin. They emphasize diversification and strategic portfolio management, suggesting that if you're heavily invested in Nvidia, now might be the right time to explore Bitcoin as an alternative.

![Bitcoin logo on Wall Street.](https://s.yimg.com/ny/api/res/1.2/9imJ7JLKgz5hBkJRh6p1Yw--/YXBwaWQ9aGlnaGxhbmRlcjt3PTk2MDtoPTY0MDtjZj13ZWJw/https://media.zenfs.com/en/motleyfool.com/53388f6b343e1899b203b71248f4beb8)

*Image source: Getty Images.*

The only asset that can soar higher than Nvidia? Some billionaires think it could be Bitcoin.

Why Billionaires Are Ditching Nvidia for Bitcoin: A Deep Dive

![Swan Bitcoin sues former employees for stealing trade secrets to launch rival mining firm](https://crypto.news/app/uploads/2024/03/crypto-news-hacker-option02.webp)

Swan Bitcoin has initiated a **lawsuit** against former employees of its mining branch for allegedly **stealing proprietary software** and **trade secrets** to establish a rival company, **Proton Management**.

In a lawsuit filed on **September 25** in a Los Angeles federal court, Swan claims that six of its ex-employees conspired to undermine its competitive position by stealing what the lawsuit refers to as the company’s **“crown jewels.”** This incident allegedly occurred during a **pre-planned scheme** dubbed **“rain and hellfire,”** aimed at taking control of Swan’s mining operations from within.

The complaint states that these former employees pilfered **proprietary code** for Swan’s mining monitoring software, along with thousands of confidential documents, shortly before their departures between **August 8 and August 9**. Additionally, the defendants are accused of recruiting key personnel and securing Swan’s business partners, notably **Tether**, which was alleged to provide **“legal cover”** for the activities of the new company.

Just days after the resignations, Tether replaced Swan with Proton in their mining agreement on **August 12**. The pair had also recently launched a **managed mining service** targeting institutional investors, aiming to scale up to **100 exahashes** by 2026. This lawsuit poses a potential threat to those plans.

Swan’s CEO, **Cory Klippsten**, indicated that the company had been facing **revenue challenges** in its mining division. In July, he suggested that Swan might discontinue its managed mining operations and had been contemplating selling its mining business to Tether.

Swan contends that the stolen information has provided Proton with an **unfair advantage** in the highly competitive **Bitcoin mining** sector. The firm asserts it possesses evidence of the theft and subsequent cover-up attempts, leading to accusations of **trade secret misappropriation**, **breach of contract**, and **aiding and abetting a breach of duty of loyalty**.

Swan is seeking a **jury trial** to assess damages and has requested the return of the stolen equipment and confidential materials, in addition to a **permanent injunction** against the defendants.

### Core Business Remains Strong
Despite this legal battle, Klippsten reassured stakeholders that Swan has enjoyed a **profitable year**, boasting a **132% year-on-year revenue increase**. He emphasized that the ongoing situation does not impact the core business, as the mining division operates **separately**. Swan's revenue surge is attributed to new product launches, including **Bitcoin Individual Retirement Accounts** in collaboration with U.S.-based **Equity Trust Company**, enabling customers to manage Bitcoin within tax-advantaged retirement accounts.

Swan Bitcoin has filed a lawsuit against some of the former employees of its mining venture for allegedly stealing proprietary software and trade secrets to launch a competing firm, Proton Management

Swan Bitcoin Takes Legal Action Against Ex-Employees in High-Stakes Trade Secret Theft Case

### October: A Promising Month for Bitcoin Prices

October has historically stood out as one of the **strongest months** for **Bitcoin (BTC)** prices, and if key economic indicators remain robust, analysts believe this trend is likely to continue. With **bulls** eagerly anticipating a repeat performance this year, social media is buzzing with references to 'Uptober'.

### Recent Price Movements

After struggling below **$60,000** for most of September, Bitcoin surged to **$65,000** following the U.S. Federal Reserve's **rate cut** by 50 basis points. Currently, it boasts an impressive **10.5% return** for September, according to **Coinglass data**.

### Economic Climate and Its Impact on Bitcoin

Federal Reserve Chairman **Jerome Powell** emphasized a stable economy, hinting at supportive conditions for Bitcoin's price if this holds true. Historically, October and November have been the best-performing months for Bitcoin, with **October** seeing an average increase of **22%** and **November** a staggering **47%**. 

### Factors Influencing Bitcoin's Price in October

#### 1. **Monetary Policy**
The upcoming meetings of the **Bank of Japan** and the Federal Reserve will be crucial in shaping market sentiment. 

#### 2. **U.S. Economic Data**
Upcoming releases regarding inflation and employment could dictate the Fed's actions and influence Bitcoin's trajectory.

#### 3. **Political Climate**
The U.S. presidential race is heating up, with candidates like **Kamala Harris** expressing support for the crypto industry, contrasting with the current administration's views.

#### 4. **Institutional Demand**
The growing acceptance of Bitcoin ETFs is expected to drive demand, with significant players like **Morgan Stanley** and **Wells Fargo** allowing financial advisors to solicit investments.

### Conclusion
As we approach October, all eyes will be on economic indicators and political developments that could significantly impact Bitcoin's price movements. 

![Bitcoin Chart](https://www.example.com/bitcoin-chart.jpg)  
*Image Source: Coinglass*  

[Watch the latest insights on Bitcoin](https://www.youtube.com/watch?v=oyeGQ_9eaJI)  
*Video Source: Unchained*  


October has typically been one of the best months for bitcoin prices and if key economic indicators remain strong, that trend will likely continue, analysts say.

Could October Be the Month Bitcoin Soars? Analysts Weigh In on 'Uptober' Trends

### Swan Bitcoin's Bold Allegations

Swan Bitcoin has filed a lawsuit alleging that former employees, including high-ranking executives, colluded to execute a **'rain and hellfire'** plan aimed at seizing control of its **Bitcoin mining business**. The lawsuit, lodged in the **U.S. District Court for the Central District of California**, claims these ex-employees conspired to create a rival firm named **Proton Management**, effectively stealing Swan's **'crown jewels'**.

### Allegations Against Tether

The complaint further implicates **Tether**, the leading cryptocurrency stablecoin issuer, suggesting that they played a pivotal role in this alleged conspiracy. According to Swan, the former employees not only purloined **highly proprietary code** from its Bitcoin mining software but also unlawfully acquired its vendors and partners.

### A Brazen Theft

Swan's lawyers have stated that the evidence of this **brazen theft** is overwhelming, highlighting that the former employees were stealing the very foundation of Swan's Bitcoin mining operations. The lawsuit details that Proton's team solicited Swan’s mining staff and attempted to leverage Tether as their financing partner to undermine Swan's competitive position in the market.

### Legal Actions and Demands

In a striking turn, just four days post-resignation of key personnel, including former **Chief Investment Officer** Raphael Zagury, Tether allegedly notified Swan that Proton would be taking over day-to-day management of their joint Bitcoin mining venture. 

Swan is seeking a **permanent injunction** against Proton to stop any further disruption to its operations and is demanding the return of stolen equipment and confidential materials. The company is also pursuing a jury trial to establish damages at trial.

This story is still developing, and updates will be provided as more information becomes available.

Swan Bitcoin’s mining arm is suing its former employees for allegedly stealing the “crown jewels” of its billion-dollar Bitcoin mining business to power a “copycat” firm.

Swan Bitcoin Accuses Ex-Employees and Tether in Bold Mining Heist Conspiracy

Bitcoin has made a significant leap, surpassing **$65,500** for the first time in nearly two months, signaling a **bullish** market sentiment among traders. This surge comes on the heels of the **U.S. Federal Reserve's** decision to cut interest rates by **50 basis points**, which has traders speculating on further cuts in the upcoming Fed meeting on **November 7**.

![Bitcoin Surge](https://bravenewcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-27-at-6.36.18-AM-1024x767.png)

**Key Factors Driving Bitcoin's Rally:**
- The recent surge has reignited interest in **U.S.-based spot Bitcoin ETFs**, with **BlackRock’s iShares Bitcoin Trust (IBIT)** seeing inflows of nearly **$185 million** on Wednesday, following a previous influx of **$98.9 million**.
- Economic developments in **China** are also influencing the market, with reports of a potential **1 trillion yuan** ($142 billion) injection into state banks to stimulate economic growth, which has positively impacted both the **Shanghai Composite Index** and U.S. markets.

### September Accumulation
Over the last month, Bitcoin's ecosystem has seen **notable accumulation**, with approximately **88,000 BTC** acquired on a net basis. This intense buying activity, predominantly from **retail investors**, has not been observed since Q4 2023. Notably, smaller holders, referred to as **“crabs”** and **“shrimps,”** have accumulated **35,000 BTC** in the past month, reflecting increased confidence in the market.

Additionally, over **40,000 BTC** have been withdrawn from exchanges, reducing liquidity and suggesting long-term holding intentions among investors. This accumulation trend, coupled with **74%** of the circulating supply being illiquid, fosters a bullish environment for potential future price increases.

### A Gamma Squeeze?
The **SEC** has approved the listing of physically settled options linked to BlackRock’s spot Bitcoin ETF, which could attract more institutional investors. However, opinions vary on how this will impact Bitcoin's volatility.

**Robbie Mitchnick**, BlackRock’s head of digital assets, clarified misconceptions about Bitcoin being labeled a **“risk-on”** asset, emphasizing its distinct long-term drivers compared to equities. He highlighted Bitcoin's potential as a **“unique diversifier”** and a hedge against various risks, noting its resilience during geopolitical events.

![Market Dynamics](https://bravenewcoin.com/wp-content/uploads/2024/09/Screenshot-2024-09-21-at-8.16.50-AM-1536x964-1-1024x643.png)

Source: BlackRock


Bitcoin surged above $65,000 reaching levels not seen in nearly two months with market sentiment turning bullish.

Bitcoin Breaks $65,000: What’s Fueling This Bullish Surge?

### Arthur Hayes' Market Prediction Track Record
Entrepreneur and former BitMEX CEO **Arthur Hayes** recently shared his market prediction accuracy, revealing a **25% success rate**—only 2 out of 8 predictions correct over the past year. In his candid blog, he described this as "**pretty shit**" using a baseball analogy to illustrate his performance.

### Leveraging Long-Term Trends
Despite the low batting average, Hayes emphasizes that he has remained profitable by **leveraging long-term macroeconomic trends**. He covers key market calls from **November 2023 to September 2024**, including predictions about **Treasury bill issuance**, banking crises, cryptocurrency price movements, and central bank policies.

### The Volatility Supercycle Thesis
Hayes continues to advocate for his **volatility supercycle thesis**, which forms the basis of his long-term market outlook. Recently, his investment fund, **Maelstrom Fund**, sold **1.59 million PENDLE tokens** for a total of **$5.62 million**, incurring a loss of **$1.29 million** in the process.

### Government Policies and Bitcoin's Value
He asserts that governments will keep printing money to suppress volatility, which will inevitably lead to an **increase in Bitcoin's value**. Hayes believes that despite his missed predictions—including an incorrect forecast regarding the **Bank Term Funding Program's** impact—what's more important is being positioned for **inevitable monetary expansion**.

### Advice for Crypto Investors
Hayes predicts that major central banks will continue to ease monetary conditions. He encourages crypto investors to **"sit back, relax, and watch the fiat value of your portfolio pump."**

But the kicker, he wrote in his new essay, is that he’s remained profitable by leveraging long term macroeconomic trends.

Arthur Hayes Admits to Low Prediction Accuracy but Remains Bullish on Bitcoin's Future

## **Copper and Core Bring Secure BTC Staking to Institutional Investors**

George Town, Cayman Islands / London, UK, Sept. 26, 2024 (GLOBE NEWSWIRE) – **Core Foundation**, recognized as a **bitcoin-powered blockchain** and the first enabler of **Bitcoin Staking**, has announced a significant advancement: the integration of **Core’s Dual Staking** – **CORE Staking** and **BTC Staking** – into **Copper's custody platform**. This groundbreaking step allows institutional investors to stake their BTC and CORE securely within their Copper custody accounts, eliminating the need for external wallets and ensuring a **streamlined and secure process**.

![BTC Staking](https://blockchainwire.s3.amazonaws.com/f37f135f-462d-58e7-1913-8fb3afb5f67e/editor_image/1d40fec9-bc1b-4b52-999f-9b2e02d03d81.jpg)

The integration enhances institutions' ability to maximize their digital asset investments efficiently. **Brendon Sedo**, Initial Contributor to Core, emphasized the importance of this development, stating, "This integration with Copper is a significant milestone for Core, as it brings the first self-custodial BTC staking solution to the institutional market."

Copper, a leading player in **digital asset custody and prime services**, has played a pivotal role in this integration, ensuring clients can utilize Core’s staking mechanisms while maintaining safety and operational efficiency. 

Core blockchain stands out as the **#1 Bitcoin scaling chain** with **21 million unique addresses**, **279,000 daily transactions**, and holding **55% of Bitcoin hash power**. With **over 4,500 BTC** staked, Core is positioned as the only available Bitcoin staking solution amidst a landscape focused on restaking alternatives.

### **About Core**
Core acts as the Proof of Stake layer for Bitcoin, facilitating the first-ever self-custodial Bitcoin staking, thereby enhancing Bitcoin’s utility and security. 

### **About Copper.co**
Founded in 2018, Copper has established itself as a standard for **institutional digital asset infrastructure**, focusing on custody and collateral management. Their technology, including **ClearLoop**, allows clients to manage collateral effectively and trade across multiple exchanges, enhancing capital efficiency while mitigating risks.

The integration of Core’s Dual Staking enables institutional investors to stake BTC and CORE safely within Copper custody accounts...

Ronaldinho's Crypto Push: Is Another Token Coming?

Summary:

Comments

Subscribe our Newsletter

BitcoinToday.app

Other Latest News

Why Billionaires Are Ditching Nvidia for Bitcoin: A Deep Dive

Swan Bitcoin Takes Legal Action Against Ex-Employees in High-Stakes Trade Secret Theft Case

Could October Be the Month Bitcoin Soars? Analysts Weigh In on 'Uptober' Trends

Swan Bitcoin Accuses Ex-Employees and Tether in Bold Mining Heist Conspiracy

Bitcoin Breaks $65,000: What’s Fueling This Bullish Surge?

Arthur Hayes Admits to Low Prediction Accuracy but Remains Bullish on Bitcoin's Future

Revolutionizing Bitcoin Staking: Copper and Core's Groundbreaking Integration

Other Latest News

Why Billionaires Are Ditching Nvidia for Bitcoin: A Deep Dive

Swan Bitcoin Takes Legal Action Against Ex-Employees in High-Stakes Trade Secret Theft Case

Could October Be the Month Bitcoin Soars? Analysts Weigh In on 'Uptober' Trends

Swan Bitcoin Accuses Ex-Employees and Tether in Bold Mining Heist Conspiracy

Bitcoin Breaks $65,000: What’s Fueling This Bullish Surge?

Arthur Hayes Admits to Low Prediction Accuracy but Remains Bullish on Bitcoin's Future

Revolutionizing Bitcoin Staking: Copper and Core's Groundbreaking Integration