(Bloomberg) — There’s a crypto refrain when prices crash precipitously like this: The selloff is washing out the short term-focused non-believers, known as weak hands, strengthening the industry in its wake. It’s a glib way to think of all those who had joined the market as Bitcoin’s price rose to an all-time high at the […]
Read More(Bloomberg) — Bitcoin is falling toward levels last seen in July 2021, part of a wider retreat in cryptocurrencies amid a global flight from riskier investments. The world’s largest digital token dropped as much as 2.7% on Monday and was trading at $33,741 as of 12:40 p.m. in Singapore. The second biggest, Ether, shed as […]
Read More(Bloomberg) — Charlie Munger, Warren Buffett’s longtime business partner, called out the “wretched excess” in both venture capital and Bitcoin, and said that cryptocurrencies should be banned. “I wish it had been banned immediately, and I admire the Chinese for banning it,” Munger said Wednesday at Daily Journal Corp.’s annual meeting, which was held virtually. […]
Read MoreAs detailed in a broad SEC filing this week, Tesla gave investors an update on its Bitcoin holdings. Parsing through the disclosure, it boils down to this: Tesla bought around $1.5 billion in bitcoin (BTC-USD) in the early part of 2021; realized a gain of $128 million on a sale of some of its stake […]
Read More(Bloomberg) — Another pronounced bull run for Bitcoin is coming in 2024 when the world’s largest cryptocurrency goes through another halving, according to Thailand’s largest digital-asset exchange. Halving occurs every four years, slowing the rate at which new tokens are created. Some argue it leads to Bitcoin price gains, a topic of much debate. Jirayut […]
Read More(Bloomberg) — Weakness in the crypto market is providing a sobering backdrop for bullish forecasts, but adherents remain undeterred. Trading-platform Crypto.com estimates 1 billion people will invest in cryptocurrencies by the end of this year. It’s a lofty target. Not only is it more than triple the amount from last year, based on the company’s […]
Read More(Bloomberg) — Shares of Coinbase Global Inc. closed at their lowest ever amid a broad-market tumble and a fresh warning from Mizuho Securities about the potential of a revenue miss in the first quarter. The largest U.S. cryptocurrency trading platform fell 3.1% to $185.63 on Tuesday. After the three-day decline, shares are down nearly 50% […]
Read More(Bloomberg) — The argument Bitcoin as a form of “digital gold” is falling apart. As the world’s largest cryptocurrency slips to $38,000, the lowest price since August, its decline in tandem with risk assets such as tech stocks is casting a shadow on a long-touted similarity to gold. Cryptocurrencies have plunged alongside equities in a […]
Read More(Bloomberg) — For Bitcoin, there’s only been one constant recently: decline after decline after decline. And the superlatives have piled up really quickly. With the Federal Reserve intending to withdraw stimulus from the market, riskier assets the world over have suffered. Bitcoin, the largest digital asset, lost more than 12% Friday and dropped below $36,000 […]
Read MoreBitcoin (BTC-USD), the premiere digital currency first introduced in 2009, raised eyebrows this week when it dropped below $40,000 for the first time in three months, stoking fears of uncontrolled volatility. But by Wednesday, the coin’s price had risen back to $43,000 and many financial leaders are predicting Bitcoin to surpass $75,000 before the year […]
Read More(Bloomberg) — The world’s second-biggest gold miner is confident prices will hold firm this year, if not rise, as investors use the metal rather than cryptocurrencies to hedge against inflation and jewelry demand picks up. “The risk is on the upside,” Barrick Gold Corp. Chief Executive Officer Mark Bristow said in an interview in Riyadh, […]
Read MoreInvesting in Bitcoin (BTCUSD) can seem complicated, but it is much easier when you break it down into steps. Investing or trading Bitcoin only requires an account at a service or an exchange, although further safe storage practices are recommended. There are several things that aspiring Bitcoin investors need: a cryptocurrency exchange account, personal identification […]
Read MoreBitcoin has not only been a trendsetter, ushering in a wave of cryptocurrencies built on a decentralized peer-to-peer network, but also has become the de facto standard for cryptocurrencies, inspiring an ever-growing legion of followers and spinoffs. Key Takeaways A cryptocurrency, broadly defined, is a form of digital tokens or “coins” that exist on a […]
Read MoreFrom turkeys to gasoline, clothes to dollar stores, nearly every avenue of human activity has been hit by the specter of inflation. Across the globe, rising inflation rates are disrupting purchasing plans and spending. In the face of this inflationary inferno, consumers and institutions holding devaluing fiat currency have sought out alternatives to hedge against. […]
Read More(Bloomberg) — Bitcoin will continue to take market share from gold as part of broader adoption of digital assets, making the often touted price prediction of a $100,000 by advocates a possibility, according to Goldman Sachs Group. Goldman estimates that Bitcoin’s float-adjusted market capitalization is just under $700 billion. That accounts for 20% share of […]
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