PotCoin May Sponsor Rodman's Trip to Trump-Kim Summit, Bithumb Cleared of Tax Evasion but Hit with Bill and Investorideas.com Talks Millennial Investment in the Crypto Space Spectiv CEO Dylan Senter
PotCoin, a marijuana-themed cryptocurrency, may be sponsoring retired NBA star Dennis Rodman's potential trip to Singapore for the historic summit between President Donald Trump and North Korean dictator Kim Jong-un, according to the Washington Post. A spokesman for the cryptocurrency affirmed support for Rodman and enthusiasm for the progress in the U.S.'s relationship with North Korea.
"The PotCoin team as a community has been incredibly supportive of Rodman's peace mission from the beginning," Shawn Perez, a PotCoin spokesman, told The Washington Post. "We're thrilled to see how the political climate has improved between North Koreans and the U.S. since he became involved."
PotCoin has sponsored some of Rodman's previous trips to North Korea, including his most recent one in 2017. The spokesman, Perez, even suggested that Rodman deserved a share in the credit for bringing peace between the two nations.
"We at PotCoin definitely believe that Dennis Rodman deserves the Nobel Peace Prize jointly with President Trump and the Marshal Kim Jong Un," Perez said.
On the southern end of the Korean peninsula, crypto exchange Bithumb has been cleared of the charge of tax evasion by authorities. It has, however, been ordered to pay 30 million won (about $28 million USD) in back taxes according to a report from local media outlet eToday.
Recent data published by finder indicates that millennials are far more likely to invest in cryptocurrency than other generations. Dylan Senter, CEO of Spectiv, the creator of the Signal Marketplace and its Signal Token (SIG) as well as Spectiv VR, a virtual reality streaming platform, and a millennial himself spoke to Investorideas.com about why that might be.
"This is our internet boom," he said. "This is our way of getting into something that could be the next revolution in tech."
Senter said that because millennials have time to course correct with their investments, they are more able to withstand the volatility of crypto investment.
"Any young person, no matter what time it is, has a little bit more flexibility to take a risk," he said. "And I would definitely say investing in the cryptocurrency is risky because of how volatile it is. But because of our age, it's alright if we lose all of our money. At 24 years old it's not ideal but you still have your whole life ahead of you."
Senter advised would-be crypto investors to curb the inherent risks by maintaining a diverse portfolio.
"In order to mitigate risk while still having the potential for high reward, I would say-and this is true for every market-diversify," he said. "Have some of your holdings in a Bitcoin as you research and learn about other projects, start slowly moving into those projects, but try to stay within some of the top coins that are out there."
Hear the full podcast interview: