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OTCbid - Can Bitcoin Become “One Of The Best Assets On Earth”? This Expert Bets On It

 

 

 

 

 

 

 

 

 

 

 

 

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" The best risk-on asset in the past decade, Bitcoin, is in a process of transition. Senior Commodity Strategist for Bloomberg Intelligence, Mike McGlone, said in a recent interview with Kitco News’ “On The Spot”.

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This process is painful as crypto investors can confirm but could take the benchmark crypto to new highs. In the past 6 months, the price of Bitcoin dropped from an all-time high of $69,000 to its current levels of around $30,000.

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In the short term, the pain has been more pronounced with Bitcoin recording 9 consecutive weeks in the red. McGlone believes the cryptocurrency and other risk-on assets are responding to the current macro-economic outlook.

The crypto market has experienced some of the best performance in global markets. The rally in the nascent asset class usually corresponds to 4 years cycles with parabolic bull runs followed by multi-year bear markets.

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Many in the sector believe cryptocurrencies entered their bear phase or the “Crypto Winter”. The losses have been compounded by two factors: the beginning of economic tightening measures by the U.S. Federal Reserve, and the collapse of the Terra ecosystem.

" - Read Full Article

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Source: NEWSBTC

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10K-100K BTC SELLER IN US

-6% Gross, -3% Net, Escrow, JP Morgan, Citizen Bank, Digital RFQ, USA

Buyer Mandate Only

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NEW: 10K-100K BTC with R&E @ -6% Gross, -3% Net, Escrow, JP Morgan, Citizen Bank, Digital RFQ, USA - Look For Buyer

(Seller ; TA PE-TELE)

Post: 5.6.22

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• Seller is selling 10K-100K BTC with R&E @ -6% gross, -3% net

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• Buyer = 3%

• Buyerside = 1.5%

• Sellerside = 1.5%

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• PLEASE FIND BELOW OUR CLIENT’S STANDARD OPERATING PROCEDURE FOR THE SALE OF 10,000+ BITCOIN USING A SECURITY DEPOSIT JOINT SIGNATORY ESCROW AT JP MORGAN CHASE/CITIZEN BANK AND A REGULATED CUSTODIAL SERVICE. THE PROCESS REQUIRES THE PARTICIPATION OF THE BUYER’S & SELLER’S BANKERS, JP MORGAN CHASE/CITIZEN BANK AND THE CUSTODIAN, DIGITAL RFQ LIMITED (“CUSTODIAN”), FOR THE PURPOSE OF MANAGING THE SECURITY DEPOSIT, HOLDING AND SENDING BITCOIN TO THE BUYER AND RECEIVING FUNDS FROM THE BUYER ON THE SELLER’S BEHALF.

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• PROCEDURE:​​

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1. THE BUYER AND SELLER EXCHANGE FULL KYC/AML AND AGREE UPON THE TERMS AND CONDITIONS OF THE SALES AND PURCHASE AGREEMENT AND THE JOINT ESCROW AGREEMENT (THE “AGREEMENTS”).

2. THE SELLER COMPLETES AND SIGNS THE SALES AND PURCHASE AGREEMENT AND SENDS IT TO THE BUYER. THE BUYER WILL THEN COUNTERSIGN THE SALES AND PURCHASE AGREEMENT AND RETURN IT TO THE SELLER.

3. THE BUYER, THE BUYER’S ATTORNEY, AND THE SELLER SHALL COMPLETE AND SIGN THE JOINT ESCROW AGREEMENT WITH DIGITAL RFQ LIMITED.

4. THE SELLER WILL PROVIDE A PROOF OF BTC VIA THE CUSTODIAN AS REQUESTED BY BUYER.

5. THE BUYER INSTRUCTS THEIR BANKER TO FUND THE JOINT ESCROW ACCOUNT AT JP MORGAN CHASE WITH FUNDS EQUAL IN VALUE TO $100,000,000.

6. THE CUSTODIAN WILL MOVE THE BTC FOR THE FIRST TRANCHE TO THE CUSTODIAN’S TRANSACTIONAL WALLET IN READINESS TO TRANSACT.

7. THE CUSTODIAN WILL CONFIRM THE PRICE LESS DISCOUNT FOR THE FIRST TRANCHE TO THE BUYER AND WITHIN 15 MINUTES OF PRICE ACCEPTANCE TRANSFER THE BTC TO THE BUYERS PRE- CONFIRMED BTC WALLET.

8. THE BUYER WILL TRANSFER THE PAYMENT FOR THE RECEIVED BTC TRANCHE AT THE AGREED PRICE TO THE CUSTODIAN, FIAT FUNDS REMAINING UNDER THE CONTROL OF THE CUSTODIAN.

9. THE CUSTODIAN WILL INITIATE TRANSFER OF THE FIAT FUNDS TO THE SELLER’S BANK ACCOUNT AND SEND PAYMENT REMITTANCE ADVICE TO BOTH THE BUYER AND SELLER WITHIN 3 (THREE) HOURS OF STEP 8 ABOVE.

10. THE CUSTODIAN WILL CONFIRM THE TRANCHE TRANSACTION IS COMPLETE EITHER VIA EMAIL OR  PHONE CALL TO BOTH THE BUYER AND SELLER SIMULTANEOUSLY WITH PROOF OF FIAT FUND TRANSFER.

11. THE SELLER SHALL SEND THE INTERMEDIARY FEES IN THE AGREED FORM TO THE SELLSIDE INTERMEDIARIES.

12. THE BUYER SHALL SEND THE INTERMEDIARY FEES IN THE AGREED FORM TO THE BUYSIDE INTERMEDIARIES.

13. STEPS6TO12WILLTHENBEREPEATEDUNTILTOTALAGREEMENTISFULFILLEDOREXTENDEDBYTHE BUYER AND SELLER.

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SECURITY DEPOSIT – JOINT ESCROW:

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• THE SECURITY DEPOSIT REQUIRED TO ENABLE THE TRANSACTION SHALL BE HELD IN A JOINT ESCROW ACCOUNT AT EITHER JP MORGAN CHASE OR CITIZEN BANKS.

• THE JOINT ESCROW SHALL BE GOVERNED BY A JOINT ESCROW AGREEMENT BETWEEN THE FOLLOWING PARTIES:

1. THE BUYER

2. THE BUYER’S ATTORNEY 

3. DIGITAL RFQ

4.  THE SELLER

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• THE BUYER’S ATTORNEY, DIGITAL RFQ AND THE SELLER SHALL BE SIGNATORIES TO THE JOINT ESCROW ACCOUNT FOR THE PURPOSES OF CONTROLLING THE MOVEMENT OF FUNDS INTO AND OUT OF THE ACCOUNT.

• THE SECURITY DEPOSIT REQUIRED TO FUND THE JOINT ESCROW ACCOUNT SHALL ONLY BE TRANSFERRED TO THE ACCOUNT FOLLOWING SATISFACTORY PROOF OF COIN BEING PROVIDED TO THE BUYER BY DIGITAL RFQ.

• THE SECURITY DEPOSIT SHALL REMAIN IN THE JOINT ESCROW ACCOUNT, UNDER THE CONTROL OF ALL SIGNATORIES, UNTIL THE TRANSACTION HAS BEEN FULLY COMPLETED, A DEFAULT HAS OCCURED OR THE TRANSACTION IS TERMINATED IN ACCORDANCE WITH THE SALES AND PURCHASE AGREEMENT AND THE JOINT ESCROW AGREEMENT.

• DEFAULT IS DEFINED AS OCCURRING WHEN AN AMOUNT OF BITCOIN HAS BEEN TRANSFERRED BY THE SELLER TO THE BUYER, AND THE CORRESPONDING AGREED AMOUNT OF FIAT FUNDS HAVE NOT BEEN RECEIVED BY DIGITAL RFQ FROM THE BUYER WITHIN THE REQUIRED PAYMENT PERIOD.

• A SUITABLE PERIOD OF TIME IS ALLOWED FOR IN THE SALES AND PURCHASE AGREEMENT FOR THE BUYER TO REMEDY ANY DEFAULT.

• IN THE EVENT OF A DEFAULT, AS DEFINED IN THE SALES AND PURCHASE AGREEMENT AND THE JOINT ESCROW AGREEMENT, AND IF THE DEFAULT HAS NOT BEEN REMEDIED, THE SIGNATORIES SHALL AUTHORISE THE TRANSFER OF THE RELEVANT AMOUNT OF DEFAULT FROM THE JOINT ESCROW ACCOUNT TO DIGITAL RFQ’S ACCOUNT FOR THE SELLER’S BENEFIT.

• IF THE SELLER IS FOUND TO BE IN DEFAULT AT ANY TIME DURING THE TRANSACTION, AND IF THE DEFAULT IN NOT REMEDIED, THE SIGNATORIES SHALL AUTHORISE THE RETURN OF THE SECURITY DEPOSIT IN FULL TO THE BUYER’S ACCOUNT.

• THE BUYER MAY ELECT, AT ITS SOLE DISCRETION, TO INSTRUCT THE SIGNATORIES TO THE JOINT ESCROW ACCOUNT TO UTILISE THE SECURITY DEPOSIT AS PAYMENT FOR THE FINAL TRANCHE(S) IN THE TRANSACTION.

• AT THE END OF THE TRANSACTION ALL FUNDS REMAINING IN THE JOINT ESCROW ACCOUNT SHALL BE RETURNED TO THE BUYER’S ACCOUNT.

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Interested parties should contact :

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• OTCbid@gmail.com

• DM Raymond Chai (on Linkedin)

• Telegram @OTCbiddotcom

• Telegram: +1 (786) 632 8577

• T.me/otc_bid

• OTCbid.com