📰 Table Of Contents
Trevor Noah Regrets Not Investing in Bitcoin
South African comedian and entertainer Trevor Noah expressed regret over not investing in Bitcoin during its early days when it was practically “worth nothing.” Noah, known for his role as the former host of The Daily Show, shared his sentiments during the Web Summit Qatar 2024 in Doha on February 26.
While discussing his passion for technology and the increasing prevalence of artificial intelligence, Noah was asked about the biggest mistake he had ever made in his life. “The biggest mistake I’ve ever made was not buying Bitcoin when it was nothing, that’s the biggest mistake I’ve made… it cost nothing at some point,” he responded. He further acknowledged that another mistake was his failure to take the time to understand the cryptocurrency.
Noah’s Views on Cryptocurrency and NFT Trading
Trevor Noah has previously touched upon cryptocurrency and NFT trading during his tenure on The Daily Show. He often humorously commented on the mainstream adoption of Bitcoin, the volatility of crypto prices, and significant market crashes, including the collapse of FTX. In 2018, false rumors circulated claiming that Noah was leaving the show to pursue Bitcoin trading through an investment scheme called “Bitcoin Revolution South Africa,” but those articles have since been removed.
Highlights from Web Summit Qatar
The Web Summit Qatar, a prominent tech conference, commenced on February 26 and will continue until February 29. The event focuses on discussions surrounding fintech and artificial intelligence. During the opening session, Sheikh Mohammed bin Abdulrahman bin Jassim al-Thani, the Prime Minister of Qatar, announced a significant investment of $1 billion by the Qatar Investment Authority (QIA) in regional and international venture capital funds to support emerging technologies and entrepreneurs.
Bitcoin Performance and Market Analysis
On Monday, Bitcoin hit its highest point in over two years, reaching $57,000. The cryptocurrency rose 9% to briefly touch the $57,000 milestone, its first time since November 2021, before dropping back down to around $56,500 levels. Furthermore, Bitcoin’s market capitalization has surpassed $1.1 trillion once again. Over the past 30 days, the asset has experienced an impressive 34% increase and currently stands just 18.5% below its all-time high of $69,000.
Potential Market Cap of Bitcoin
Fidelity’s Director of Global Macro, Jurrien Timmer, has suggested that the Bitcoin market cap has the potential to reach a quarter of the “monetary gold” market, hitting an impressive $6 trillion. The analysis draws a parallel between the portion of gold held for monetary purposes, estimated at 40% of the world’s above-ground gold, and the potential market value of Bitcoin. Timmer noted that the monetary gold, excluding jewelry or industrial uses, is currently valued at around $6 trillion, with central banks and private investors holding this significant share.
The Fidelity Director argued that Bitcoin could capture a substantial slice of this market, leveraging its current valuation of $1 trillion as a foundation for further growth.