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MLB Team Washington Nationals Partners With Terra Blockchain Community, Ballpark Plans to Accept UST

On February 9, the American professional baseball team based in Washington, D.C., the Washington Nationals, announced the team has partnered with Terra, the open-source blockchain platform and decentralized autonomous organization (DAO). The Washington Nationals detail that the team is a “leading innovator” and is “consistently introducing new technologies to enhance the fan experience.” Washington Nationals Ink Long-Term Deal With Terra Major League Baseball (MLB) team the Washington Nationals has partnered with the blockchain platform and DAO Terra, according to an announcement published by the team on Wednesday. The deal with Terra follows a slew of sports-related deals with crypto firms, but the MLB team will be the first to partner with an open-source blockchain project. In addition to the partnership, the algorithmic stablecoin UST that’s issued on the Terra blockchain will be “accepted as a payment method at Nationals Park as early as next season.” “The Nationals continue t...
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Bitcoin needs clear regulations to be less volatile, Bridgewater analyst says

Bitcoin will become more stable and liquid when regulatory certainty is in place, Bridgewater’s director of investment research argued.

A senior analyst at asset management firm Bridgewater believes that regulation could potentially make Bitcoin (BTC) a good asset for institutional investors.

Bridgewater director of investment research Rebecca Patterson claimed that regulatory certainty around Bitcoin would solve some of the cryptocurrency’s biggest problems associated with high volatility and low liquidity.

In a Feb. 24 interview with Bloomberg, Patterson said that issues like volatility and liquidity remain the main hurdles for Bridgewater’s potential move into Bitcoin.

“Right now Bitcoin can move 10% on a tweet, that’s not exactly a store of wealth for most institutional investors. So the volatility of Bitcoin is about 10 times that of your dollar, it’s still double that of the Venezuelan bolivar,” the executive said.

Patterson went on to say that both the volatility problem and liquidity issues would subside if Bitcoin becomes a better-regulated asset:

“The more you get a real regulatory ecosystem developing around Bitcoin and other currencies, the more other types of investors are going to be comfortable coming in, that’s going to bring liquidity, that’s going to reduce the volatility.”

“So I guess if there was one thing I were watching first, it would be seeing more regulatory certainty,” Patterson said, adding, “I'm not sure when that’s going to come in the U.S.” 

Patterson also said that she doesn’t look at Bitcoin as an “alternative currency” but rather as digital gold. “If anything, it’s an alternative to gold or digital gold. I think that would be the better comparison,” she said. Patterson said that many investors have been looking to Bitcoin over concerns about inflation triggered by central bank money printing. However, for Bridgewater, Bitcoin still needs to prove its status as digital gold:

“As institutional investors, we don't know yet if it’s going to be digital gold, it may be over time, but I don’t think we can say that with confidence yet. And that affects whether or not our client should own it.”
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