Bitcoin could eventually reach $1 million per coin if it captures a larger share of the global store-of-value market currently dominated by gold and government bonds, according to Bitwise Asset Management CIO Matt Hougan.In a report earlier this week, Hougan said bitcoin’s long-term upside depends less on short-term market cycles and more on how much of the world’s wealth preservation market the cryptocurrency absorbs over time.”One million sounds crazy,” said Hougan. “It implies bitcoin will rise 14x from today’s price.”He pointed to several factors supporting that forecast, among them the rapid growth of the global store-of-value market, including gold, government…

The blockchain trilemma reared its head once more at Consensus in Hong Kong in February, to some extent, putting Charles Hoskinson, the founder of Cardano, on the back foot – having to reassure attendees that hyperscalers like Google Cloud and Microsoft Azure are not a risk to decentralisation.The point was made that major blockchain projects need hyperscalers, and that one shouldn’t be concerned about a single point of failure because:Advanced cryptography neutralizes the riskMulti-party computation distributes key materialConfidential computing shields data in useThe argument rested on the idea that ‘if the cloud cannot see the data, the cloud cannot control…

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