Billionaires Shift Billions into Bitcoin and Ethereum, Despite Outflows from New ETH ETFs

Bitcoin, Ethereum, Solana, XRP - Billionaires Now Prefer This Cryptocurrency

Börse Online reports on a new evaluation by Yahoo Finance, which shows which cryptocurrencies are currently particularly popular among billionaires. Accordingly, $8 billion has flowed into Bitcoin and around $1 billion into Ethereum since the beginning of the year. Hedge fund billionaires such as Stanley Druckenmiller and Paul Tudor Jones emphasize the long-term benefits of Bitcoin as a store of value.

According to Börse Online, Mark Cuban invested heavily in Ethereum, while Cathie Wood is also a proponent of this cryptocurrency. Despite technical advantages, Ethereum could not keep up with Bitcoin's growth; net outflows even reached $500 million from the new Ethereum ETFs.

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Bitget Increases Its Proof-of-Reserves for August: Higher Reserve Ratio and More User Assets in Ethereum (ETH)

Boerse.de reports that Bitget increased its proof-of-reserves in August. This means higher reserve ratios and an increase in user assets, particularly in the form of Ethereum (ETH). This measure aims to strengthen investor confidence and create transparency.

Ethereum (ETH) in September 2024: What Can Investors Expect?

According to BeInNews Academy, Ethereum's price is moving within a descending wedge and might soon find support at the lower trendline. Experts warn of possible panic selling due to a transfer of large ETH holdings by the Ethereum Foundation to Kraken.

Additionally, the supply of ETH is growing rapidly, which could make it inflationary again. Analysts forecast short-term downward movements to around $2300 before a potential upward trend could set in.

Ethereum Price Forecast: Will There Be a Trend Reversal in September?

Finanzen.net analyzes the difficult state of the crypto market at the start of September after a loss-heavy August for many altcoins, including Ethereum. Historical data often shows negative trends for this month in both stocks and crypto assets like ETH or BTC.

Nevertheless, there is hope for recovery thanks to an expected interest rate cut by the US Federal Reserve in mid-September to avert a possible recession - this could provide positive impetus, especially if October traditionally turns out bullish ("Uptober").

Ripple To Outperform Bitcoin, Says Co-Founder Vitalik Buterin – Price Potential Up to $1.50 per Token Expected

According to a report on Investing.com, Ethereum's founder Vitalik Buterin believes that Ripple will outperform other major coins, including Bitcoin! He estimates that XRP has the potential to reach price levels beyond previous records, with values close to one and a half dollars possibly as early as next year!

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Article Summary

Billionaires are increasingly investing in Bitcoin and Ethereum, with significant inflows reported for both cryptocurrencies; meanwhile, Bitget has increased its proof-of-reserves to boost investor confidence. Despite some challenges for Ethereum, including potential short-term price drops and net outflows from ETFs, there is optimism about future trends due to possible interest rate cuts by the US Federal Reserve.