By and large, 2018’s downturn in the cryptocurrency market has been a time of loss, even for the most intelligent and experienced Bitcoin investors. Firms have also suffered, laying off staff left and right.
From its peak in early-2018, the aggregate value of all cryptocurrencies has fallen from $830 billion to $130 billion currently — a loss of 84%. But a startup, backed by the illustrious Mike Novogratz, intends to give investors a way to stack satoshis (fractions of BTC) and gwei (fractions of Ether), even as winter continues to nip at this market’s extremities.
BlockFi To Offer 6.2% APR On Bitcoin & Ethereum Deposits
Forbes reports that BlockFi, a company that raised $52.5 million from investors like Novogratz’s Galaxy Digital last July, has launched a potentially game-changing product. BlockFi has reportedly given clients across the globe the ability to make up to 6.2% annual interest on Bitcoin and Ethereum deposits. This “interest account” offering will go alongside BlockFi’s loan offering, which allows…