Despite all the volatility we’ve seen in Bitcoin recently, one hedge fund manager says the cryptocurrency could reach $50,000 this year.
“There will be constant 30 percent corrections which I think are healthy for the market,” Anthony Pompliano, Managing Partner at Full Tilt Capital, told Cheddar. “As the market progresses, there are only going to be so many coins that are created, so the supply and demand of the industry is really going to drive that price up.”
Bitcoin prices are up more than 1,000 percent from a year ago, but it’s recently pulled back more than 40 percent from all-time highs near $20,000. On Friday it traded around $11,500.
But Pompliano says a crash could actually help build an infrastructure for the industry. He likens it to the dotcom bubble burst, which ultimately laid the groundwork for companies such as Amazon and Google.
“I think that’s going to happen here in crypto,” he said. “There’s going to be a bunch of scams, there’s going to be a lot people who get caught up with the tightening of regulations. But we’re also going to get a lot of sustainable technologies that come out of this that form the basis of the next 10, 20 years of the technology sector.”
For full interview [click here](https://cheddar.com/videos/why-one-venture-firm-is-going-all-in-on-crypto).
Umbilical cord blood banking platform Anja Health raised $4.5 million dollars in a seed round led by Seven Seven Six, a venture capital firm founded by Reddit co-founder Alexis Ohanian. Anja Health offers a personalized, doctor-backed cord blood bank, which lets new parents freeze stem cells from their child's umbilical cord so they can be used to treat diseases in the future. It's a process Anja has called 'Hollywood's best-kept secret,' as celebrities like Kylie Jenner, Serena Williams, and more have all banked their umbilical cord blood. Kathryn Cross, the founder of Anja Health, joins Cheddar News' Closing Bell to discuss.
Catching you up on what you missed in today's news. Elon Musk has increased his commitment to purchase Twitter to $33.5 billion, Apple is raising its hourly wages for retail stores to compete for talent, and Roblox has announced that it will be partnering with the medically prescribed video game ‘Endeavor’ to help treat patients with ADHD.
After learning that the suspect in the Uvalde school shooting posted about his intentions on Facebook, activists are urging social networks to make changes. Lena Derhally, a licensed psychotherapist and author of "The Facebook Narcissist," joined Cheddar News to discuss the role social media plays in school shootings. "They're not really invested in taking down hateful content," she said about social platforms."In regards to the shooting, it was 15 minutes before that actual threat. It would be pretty hard for a social media company to trace that threat that quickly. But what they can do better is take down threats and hateful content much faster and more than they're doing now."
Esper Bionics CEO Dima Gazda breaks down how they're creating a mind-controlled bionic hand that guest smarter the more you use it, and what this innovation means for the future of the prosthetics industry.
On this episode of Cheddar Innovates: Brightseed Co-Founder breaks down what plant bioactives are, and how they're using the latest technology to study human's biological connections with plants; Esper Bionics CEO breaks down how they re creating a mind-controlled bionic hand that guest smarter the more you use it; Cheddar gets a look at Curiosity Stream's 'Capturing A Black Hole In Our Milky Way.'
