After Calling Crypto a Bubble, George Soros is Investing in Cryptocurrency

There are hardly any cryptocurrency reports that don’t mention price volatility. In fact, this quality is what the industry has come to be known for over the years. Cryptocurrencies on their own have no intrinsic value and present so much risk of loss. For this reason, huge corporations and big Wall Street players like George Soros, Warren Buffet, and Jamie Dimon have always been openly skeptical about all coins, the major ones in particular like bitcoin, litecoin, and ethereum. While there are differing opinions that dispute the criticism meted out by these senior investors, their words are backed by years of accumulated knowledge and experience in the finance industry.

However, despite its volatility, the cryptomarket is very similar to the stock market. This means that technical knowledge of blockchain is not necessarily a prerequisite for investing in the industry. All that is needed is a fundamental understanding of supply, demand and other economic factors that drive the market. Keeping this in mind, George Soros is set to invest in cryptocurrency despite his earlier criticism.

The 87-year-old tycoon has racked up a sizeable investment portfolio over the years, and while his peak days may be behind him, he has made it clear that he’s not done yet. His perception of Bitcoin was especially negative, and he considered it a confusing form of investment that is completely based on a misunderstanding. For someone who lambasted the whole idea of crypto assets, it’s easy to wonder why Soros has suddenly had a change of heart.

Soros Prepares to Invest in the Cryptocurrency Market

According to Soros, Bitcoin fluctuates in value by at least 25% each day, making it impossible for the currency to be used to pay wages and other compensations. In January 2018, Soros openly stated that Bitcoin is a bubble, saying that it cannot be called a currency because it has no stability as a store of value.

The Soros Fund Management has assets worth $26 billion and part of it has been set aside as capital for cryptocurrency investments. Bloomberg reported that Adam Fisher, head of macro investing at Soros Fund Management has received internal approval to carry on with the trade of digital assets. Although he has indeed received the approval, he has not personally made any bets on digital assets yet

George Soros is not the first Bitcoin critic to change his stance. The history of Bitcoin has seen many public figures who openly show skepticism and disinterest in the cryptocurrency, only to change their minds later and invest in it. Jamie Dimon, CEO of J.P. Morgan who called Bitcoin a fraud in October 2017, has also changed his mind. Older, more traditional firms are also taking an interest in the industry, with venture capitalists like the Rockefellers making moves to enter it. Despite his next foray into the crypto markets, George Soros believes that Bitcoin is mainly used by individuals for tax evasion and by dictators as a way to build nest eggs in other countries.

The Cryptocurrency Investment Decision

The decision of the Soros Management Fund to consider cryptocurrency trading is a result of the falling price of Bitcoin in 2018. Since its peak of $20,000 in December 2017, the price of BTC has dropped to almost $6,000 in a devastating market correction. Bitcoin volatility has surpassed expectations several times. Its performance in 2018 has been no different, with the continuous fluctuations on the 24-hour market chart.

Since early 2018, BTC has seen bearish movements where it continues to lose support. Between January and March, invested cryptocurrency funds generally declined by an average of 52% in value. Hedge funds, on the other hand, appreciated by an average of 0.4%. George Soros sees this negative volatility as one of the pitfalls of investing in Bitcoin, and it is no surprise that other Wall Street players agree. However, compared to the price of BTC in January 2017, there has been an upside bullish movement. The average return of funds invested in cryptocurrency in 2017 was 1,522% which is massive, compared to the average return on hedge funds which was 7.2%.

There is speculation that the negative comments by Soros played a part in the BTC price drop. His knowledge of macroeconomics has set him apart as a person who influences the investment scene. Since Soros made his comments, the markets have seen a 41% decline. If indeed he ends up investing in crypto assets, the markets may see a short-term boost. This doesn’t matter to big investors like George Soros who are more focused on the long-term rewards in the industry. Whether he has an agenda or not, one thing is certain: profit is a major driver in his decision.

There is no doubt that the best time to invest in cryptocurrency is now because the price of Bitcoin has dropped considerably. Although there have been predictions by notable experts like CNBC’s Brian Kelly and John McAfee that the cryptocurrency will recover, it may take a while for that to happen. George Soros knows this and plans to capitalize on it.

John McAfee has predicted that Bitcoin will hit $1 million in 2020 and if its price is anywhere near that figure, then putting funds in the market when it is worth $6,000 is a great investment. However, people like Jordan Belfort have also predicted that Bitcoin will crash. Recently, there has also been tension and new unfavorable regulatory developments in the space. Investors are discouraged by the continuous regulatory scrutiny and hacks that plague the entire industry. This has led to a general decrease in the interest and buzz around Bitcoin.

Final Thoughts

George Soros is a Hungarian-based American billionaire who is considered a tycoon in the world of business. He has proven himself time and again as a true macroeconomic guru. His predictions and statements are regarded in high esteem and trust, globally.

George Soros might be seen as a controversial person for several reasons, but where investments are concerned, he’s hardly wrong. So when he came out to say that Bitcoin cannot function as an actual currency, it caused a buzz. However, he failed to predict Bitcoin’s hard tumble which he now finds favorable.

Soros’ family office has a stake in Overstock.com and is currently the company’s third-largest shareholder. The retail giant was one of the first companies in its industry to fully embraced the use of cryptocurrency. In fact, it planned to launch its own cryptocurrency exchange. So in some ways, this is not his first encounter with crypto investments. Unfortunately, the company has come under the scrutiny of the SEC for its planned Initial Coin Offering (ICO). This has led to a whopping 43% year-to-date decline in the company’s shares.

Although Soros has expressed his intentions to move into the industry, the specifics are still unclear. There is still a lot of speculation about what his exact motives are. For now, he seems to be fine with the performance of Bitcoin because the current decline may signal a price growth in the near future. Wall Street moguls like the Rothschild family and Alan Howard are following in Soros footsteps as well. Clearly, cryptocurrency is becoming increasingly popular in the traditional finance industry. At this pace, mainstream adoption may not be as far off as it seems.

What Is the Easiest Way to Speak With a Beacon Resources Recruiter?

If you’re on the hunt for great accounting jobs, Los Angeles is a great destination city to pursue those dreams in. Not only does the economy support a diverse range of industries that all require the help of financial professionals, it also has a bustling financial services sector of its own. Whether you’re looking to provide in-house services as a CPA in a company’s accounting department or you’re looking to rise in the financial world as a top professional in a company that specializes in financial services for others, Beacon Resources is going to be one of the best accounting recruiters you can talk to.

Opening the Conversation

There are two easy ways to get in touch with a recruiter from this agency. The first one is direct and simple, and that’s to submit an application through their regular process. Upload a resume, and find out which jobs you’re matched for once it’s been processed. From there, you’ll talk to a recruiter about the possibilities that might fit your needs and goals. This is a great way to find yourself matched with a contract position quickly, especially if you are fairly new to the workforce.

The other way is by getting in touch with the agency through the website’s contact information. This is a good way to find out basic answers to common questions before you submit a resume, and that can be a big help if you’re not sure about the organization’s preferences for presentation or their mission emphasis. It’s also a great way to open the conversation powerfully if you’re experienced and you’re prepared to seek out the perfect position to advance your career.

Get in Touch Today

If you’re ready to talk to a Beacon Resources representative, get in touch today. Contact us online through the website and let us know how we can help you advance your career. If you’re new to the area and looking for accounting jobs Los Angeles has plenty of opportunities.

Summer Day Trips

When summer rolls around, everyone has the same thought. What can we do? Summer is the time to enjoy time off, enjoy the weather, and enjoy going places. When you are trying to find places to go it can either be visiting family/friends, going on vacation or even just day trips for new experiences. When kids are involved you especially want to do what you can to make their summers memorable. Day trips can be perfect for this because they allow you tackle multiple locations in a short period of time making summer time buckets of fun. Below are some options of day trips that you can do with your family.

Beaches

One option for a day trip are beaches. The beach (if you are fortunate to be within driving distance to one) is always a good time and can be done in a day if planned properly. It can be a day of relaxing if you don’t have kids or a day of fun if kids are involved. Be sure to explore where you can have a homebase like a bathroom or such for you to change and rinse off before heading home. Some beaches offer chair and umbrella rentals to make the day trip planning even more easy. It will allow you to relax and enjoy reading a book, play a game on your phone like Promo code from Tropicana casino, or read a magazine. You can also visit restaurants for breakfast, lunch and dinner before heading home.

Parks

Parks are another option for day trips. Not only are there national or state parks that can offer you a good time but you can also simply look up well known playgrounds in the driving area that are worth the trip. State parks are often a good option if you would like to hike or take in the beauty of waterfalls or landmarks. Kids often like to try out new turf and take in new playgrounds as well.

Amusement Parks

Amusements parks are also a fun option. All throughout the country you can find various forms of amusement parks, water parks, zoos, aquariums, etc. that can be fun to drive to and visit. All are different in their own way. They often offer discounts as well in the summer. Some local libraries offer discount tickets or even free tickets for you to reserve.

Shopping

There are often good shopping venues  to explore. There are a lot of outlets that are outside so you can walk around and enjoy the weather as well. There are also malls that may be worth the drive to explore on a rain day.

Take these tips to start planning your summer bucket list and have the best summer of your life!

How to Fund a Small Business

When you have a business idea, you need to go through all of the proper steps to make sure it is actually doable and that it is set up properly. Besides an idea of what you want to do, you need to make sure you can afford it! A lot of times there are entrepreneurs who have the ideas but not the funding. There are many sources of funding, but it can be overwhelming. Below is an outline of a few options to help you consider you best course of actions.

Quick Loans

Sometimes you are in a pinch and need money fast. Quick finance can be done online simply and quickly. Especially short term loans. You can get money in your wallet in a timely manner and get you rolling on your financial business journey. Another plus with this option is you are able to get this type of loan even if you have bad credit. The problem is, you typically pay for these conveniences. It is usually the most expensive loan.

Saving

This seems like an obvious answer, but you can save for your business and start it on your own. Take any extra money you have in your budget and set it aside each week or month. Obviously this method is not a quick fix but it will feel great when you accomplish your goal.

Angel Investor

Get support from family and friends. There may be someone in your life that will provide the start up costs. There may even be angel investors you can discover that are interested in your line of work. These people may be able to mentor you through the start up of your business and help you help them!

Small Business Loan

There are other types of loans out there besides a short term loan. A small business loan is also an option but the thing with this product is that there are more hoops you will have to jump through to obtain it. Under law, small business loans can’t guarantee loans to businesses that can obtain the money they need on their own. So you have to apply for a loan on your own from a bank or other financial institution and be turned down.

All of these forms of funding are options for a new start up business. No matter the line of work or industry, there are different ways for you to begin your journey. It is best to research with your bank or a financial advisor to see what will work for you.

 

Places to visit in Sacramento: Tourist Attractions in Sacramento:

If by any chance, you happen to be in California this summer. Then you can definitely have a great time if you know where to go in Sacramento. But fret not; we have done a thorough research to bring out the best places worth visiting in Sacramento.

Fairytales Town where your childhood is back:

This park should be on your bucket list. It will bring your childhood back to life again. This park is full of different sections; each representing a different fairytale or nursery rhyme play-set. This park has a total 25 play-sets which consist of different fairy tales and nursery rhymes; taking you back to the good old days when you were a kid. Fairytale Town has been educating and inspiring children for more than 50 years. It is located on the Land Park drive near the Sacramento Zoo.

Take a trip over the Tower Bridge:

It is one of the oldest bridges in the U.S built in 1935; it is definitely a place worth visiting while you’re in Sacramento. It is also known as the Sacramento River Bridge as it connects Sacramento country in the east to West Sacramento in Yolo County. It’s a great place to drive to but when you’re driving, make sure that you are following the traffic rules otherwise you’ll be caught and then you’ll be requiring the services of traffic ticket lawyers to bail yourself out. On this note, you can always rely on ticket lawyer Sacramento to help you.

The Abandoned Sutter’s Fort:

This fort was constructed in 1839 by John Sutter. It was the main centre of attraction in California before the start of the Goldrush. The gold was discovered 45 miles away from the fort and after the start of a Gold rush, the fort was abandoned. Now this fort has been declared as a National Historic Landmark. The fort is a place worth visiting, with its two storey adobe structure building.

California Automobile Museum:

This museum was founded by a group of volunteers in 1982. At the starting, the museum was the house to the biggest collection of Fords but now all sorts of automobiles can be seen in the museum. It is one of its kind and a major tourist attraction in Sacramento because of its truly diverse and exciting collection of cars.

Reliving the old times in Sacramento State Historic Park:

This 28 acres park covers all the area of old Sacramento business centre of 1850’s. It consists of all the buildings made during the Gold Rush including the famous Eagle Theater. These buildings at the Waterfront have seen history including floods, fire, to the political ups and downs. This area has become a massive tourist attraction for those who are keen to study the history of California.

The California State Rail-Road Museum:

We know that Sacramento is the home to fascinating attractions and museums. Out of all these, the California State Rail-Road museum is one of the most popular ones. Each year more than 50,000 people come over to visit this museum. This museum will take you back in time, to the discovery of train. You can find many used locomotives and railroad cars that were in use throughout the State in the past. There are six buildings in this museum; overall the museum covers an area of 225,000 square feet.

California State Indian Museum:

This museum was opened in 1940’s to tell the people about the native Indian tribe that used to live in the State of California. The museum has three sections showing different themes like; family, nature and spirit which were important to the Indians. The museum is full of photographs and artifacts showing the lives of native Indians and how they used to prosper in this State thousand of years ago.

How to Get Business Loans with Bad Credit

If you’re a small business owner, having bad credit can feel like a prison.

You need financing to pump much-needed cash into your business for growth and expansion…

…but not having good enough credit to obtain financing from a bank or traditional lender means you’re stuck in place.

Fortunately, alternative lending has exploded over the past decade and now offers small business owners with bad credit several great options for obtaining the funds their business needs, whether to pick themselves back up after a slow season or to expand into new horizons.

Business loans with bad credit: Your options

So, what are your options?

It might be a little hard to believe that there really are options available to small business owners with bad credit, but it’s true.

In fact, there are several:

  • Unsecured business loans: An unsecured business loan is typically based on cash flow, gross annual sales, and your business’ credit score (typically scores ranging 540+), up to as much as $2,000,000.00 and does not require collateral.
  • Business line of credit: A revolving credit balance you can use as the need arises (similar to a credit card).
  • Split funding: Also known as a merchant cash advance, split funding deducts a percentage of your credit card sales each business day to repay the loan, making them perfect for businesses whose cash flow fluctuates due to heavy and light seasons (such as Christmas).
  • Term loans: A quick chunk of cash typically used for a specific purpose such as to buy materials, new equipment, or hire new personnel before a busy season.

Now that you know some of your options, let’s take a look at everything you’ll need to get a small business loan even with bad credit.

What do lenders look for?

The first and perhaps most important thing to know is what lenders are looking for when they receive an application.

If you know what they’re looking for in advance, you can position yourself to be much more likely to be approved for a business loan even if you have bad credit.

Here are a few of the most important things that lenders are looking for:

1. Debt is low and under control

First, lenders want to see that your debt is not only low but under control. Are you on time or do you have late payments? Also, is there collateral on any loans involved? These are all important factors to look out for when preparing to apply for a business loan with bad credit.

2. Revenue is high and growing

Revenue helps lenders forecast your ability to pay back a loan. In a nutshell, it’s best if your revenue is not only high but also on an upward trajectory. If you’re currently growing, you’ll be in good shape to lenders (on paper, at least).

In addition, revenue helps decide what size of loan you’re approved for, so it has more than one purpose.

3. Cash flow is abundant and well managed

Cash flow is another very important metric because businesses want to see not only how you manage your money, whether you overspend and pay late or never stretch beyond your limits and pay on time, but also how much cash savings you have in case something goes wrong.

The reality is, no one ones what’s going to happen tomorrow. For that reason, lenders want to see that you have a nest egg you can use to continue paying off your loan in case business suddenly takes a dip.

A note on credit

While great credit isn’t necessary, it still helps to do everything you can make your credit look as good as it can.

If you have any tax liens, foreclosures, or bankruptcies on your credit, do whatever you can to take care of them and get them off your personal credit. This will go a long way in getting approved for a loan.

Clearly, not every business can fulfill each of the above points we just mentioned perfectly. In fact, very few can.

Simply use the above information as a marker for placing yourself in a position to have the highest chance of being accepted for a loan.

What are the minimum requirements to qualify for a small business loan with bad credit?

In addition to there being certain things that lenders look for when they review an application, there are also typically minimum requirements to even be considered for a loan in the first place.

They tend to be pretty easy qualifications to meet, however, they’re nonetheless required before your application can even be accepted.

Each type of financing is different, but here are what the basic requirements tend to be for many bad credit business loans:

  • Be in business for at least X months or years (typically, somewhere between 6 months to 2 years)
  • Have X amount of monthly gross revenue (typically $10,000 or more)
  • Must be in good standing (In other words, can’t currently be defaulted on a loan with another lender, etc.)

On top of those basic qualifications, you’ll also need a few documents to verify and proof certain information.

What documents do I need?

Every lender and loan product is different. However, the documents needed to apply for each tend to be pretty similar. And, regardless, it’s a good idea to have this stuff in order anyway.

Here are some of the documents that may be required by lenders for you to complete your application and get approved:

  • Business licenses
  • Proof of ownership
  • Property lease agreement
  • Personal and business tax returns
  • Voided check
  • Drivers license
  • Bank statements
  • Profit & loss statement
  • Debt schedule

Get a small business loan even with bad credit

Obtaining a small business loan with bad credit has never been easier.

And it’s not just possible, you have several great options to choose from in unsecured business loans, business lines of credit, term loans, and merchant cash advances (AKA split funding).

You don’t want bad credit to hold you back from getting the funds your business needs to grow. Now, it doesn’t have to.

Are Electric Cars Cheaper?

The popularity of electric cars are on the rise. With the main reason being to help the environment, some people make the switch to electric cars from gas powered cars because of the cost savings. People are under the assumption that the savings in gas and also the tax benefits can save them money. One factor that is often overlooked is the cost of insuring an electric car. I decided to look into this matter to see if there really is cost savings when switching to an electric vehicle. Is the insurance for electric cars cheaper?

Insurance Premiums

In my research, it is a given that insurance premiums for electric cars are higher than gas cars. Some insurance companies can have higher premiums for an electric car as compared to their gas counterpart. Car insurance quotes for the electric cars were 21% higher, on average, than quotes for the gas cars. This is quite the difference. So the only question is why is this so? The simple answer is the cost of the car itself. It is a common fact that premiums go up for riskier drivers. With electric cars it does not make a driver risker in the insurance company’s eyes, but it does raise the red flag of liability. Electric cars are expensive. They are expensive to buy, and the parts that make up the cars are expensive to replace as well. Insurance companies see electric car drivers as liabilities because if they were to damage their car, they have to put up the big bucks to fix it. This in fact makes them less desirable than a cheaper made gas car. Therefor the driver is forced to bear the cost of that liability in their premiums. With that being said, Electric and hybrid cars often require less servicing than their gas cousins. But, when something goes wrong or if you get into an accident, the repair costs are higher because you need specialty mechanics to fix things such as damage to batteries or to electric control panels. Despite this, analysts say that these costly repairs occur less frequently than they do with gas vehicles.Electric car work needs to be done by a trained electric car mechanic which is not as common as the regular gas powered car mechanic. This is another hurdle for electric car drivers.

Shop Around

Even though it is a given that your premium may be higher, it is important to shop around. Look at different insurance companies to see who can give you the best deal out there in the electric car world. Different companies offer different coverage for different prices so it pays to do your research.

There are pros and cons to insuring a hybrid or electric vehicle, but when it comes to lowering your carbon footprint, it’s priceless.