Bitcoin recently became a trillion-dollar asset as its price also surged past $57,000. A few hours later, ETH made headlines as it crossed the coveted $2K mark. Several other cryptocurrencies have also performed well. Tesla’s CEO, Elon Musk, is of the opinion that the prices of both digital currencies are high. Pro-gold and anti-bitcoin economist...Read More
The growth of the leading cryptocurrency asset manager Grayscale Investments has pushed the company into appointing three new C-suite hires. As a result, the company has filled the roles of Chief Operating Officer, Chief Compliance Officer, and Chief People Officer. New C-Suite Hires In Grayscale Founded in 2013, Grayscale is a crypto asset manager that...Read More
The narrative that bitcoin is rarely used for payment transactions has been debunked by several fields in the span of a week. Apart from Swiss residents being able to pay their canton taxes in BTC or Portuguese citizens paying their electricity bills, a UK-headquartered private jet charter company said that nearly 20% of its yearly...Read More
The popular crypto exchange OKCoin has made a somewhat controversial decision to delist two Bitcoin forks – Bitcoin Cash (BCH) and Bitcoin SV (BSV). According to the platform’s CEO, the company is doing what’s in the best interest of Bitcoin’s ecosystem while trying to act against Craig Wright’s recent lawsuit urging various websites to remove...Read More
This is one of the most monumental weeks in Bitcoin’s history. Today, February 19th, 2021, for the first time ever, the cryptocurrency’s market capitalization surpassed $1 trillion. That’s right! Bitcoin became a trillion-dollar asset! This became possible after a dynamic week of trading where BTC’s price surpassed $50K for the first time in history. Just today,...Read More
JPMorgan Chase & Co strategists have warned that BTC’s price could be in bubble territory as it’s significantly higher than their estimated fair value. Furthermore, the analysts believe that bitcoin, and other cryptocurrencies, have failed to serve as a hedge to equities. JPM’s Swinging BTC Opinion After being somewhat positive on BTC for months, claiming...Read More
Tesla’s Elon Musk continues with his controversial opinions on bitcoin. After recently saying that he is a supporter and BTC is a “good thing,” he now called the primary cryptocurrency “almost as bs as fiat money.” Musk: BTC Is Slightly Less Dumb Than Cash The latest Musk comments on the cryptocurrency came as a response...Read More
Popular gold advocate Jeffrey Gundlach, CEO of DoubleLine Capital, has thrown his weight behind Bitcoin (BTC), stating that the crypto asset is a better investment than the precious yellow metal. Gundlach tweeted earlier today that despite being a strong gold bull and a long-term U.S. dollar bear, he has chosen to be neutral on both...Read More
The private financial and investing advice company The Motley Fool has announced plans to allocate $5 million in Bitcoin. The Motley Fool Joins The BTC Party The Virginia, US-based company announced its intention to buy BTC in its Twitter account earlier. It reads that “we are buying $5 million in Bitcoin on our own balance...Read More
Residents located in the canton of Zug, one of the 26 cantons in the European country, will be able to use Bitcoin and Ethereum to pay their cantonal taxes as of this week. This comes just months after the canton partnered with Bitcoin Suisse to enable the innovative initiative. CryptoPotato reported the partnership between the...Read More
A U.S. court has brought charges against three North Korean hackers, accusing them of massive crypto thefts. The individuals are computer programmers and have allegedly worked alongside government officials on their operations. Stealing More than $1.3B in Cash and Crypto A U.S. court charged three North Korean individuals suspected in an attempt for a massive...Read More
The firm, which specializes in investment, research, and development in the cannabis sector, said that their industry has had very positive experiences with cryptocurrencies as a “simple and digital means of payment.” Corporations Buying Bitcoin Seems To Be Trendy It seems like only yesterday Elon Musk made the SEC filing, laying out how his company...Read More
The world’s largest asset manager, BlackRock, is looking into Bitcoin. This was confirmed by the managing director of the company, Rick Rieder, today. Rick Rieder, the managing director of BlackRock, the world’s largest asset manager, confirmed that the company is looking into Bitcoin. “We’ve started to dabble a bit into it,” he said, refusing to...Read More
Jim Bullard, President of the St. Louis Federal Reserve, has dismissed the value proposition of Bitcoin (BTC) based on some of the oft-quoted advantages claimed by BTC proponents. Speaking to CNBC on Tuesday, Bullard remarked that the Federal Reserve viewed Bitcoin as more of a rival to gold than an actual currency. According to Bullard,...Read More
Peter Schiff, a well-known economist, gold proponent, and one of the most vocal opponents of Bitcoin, admitted that he was wrong about Bitcoin not hitting $50,000. Bitcoin’s Price Hits $50K For the First Time in History For the absolute first time since its inception, Bitcoin has hit the coveted $50,000 mark. The price has since...Read More
The recent boom in institutional interest in Bitcoin and cryptocurrencies might be a fresh sign that the market needs crypto regulations. SEC Commissioner Hester Peirce pointed out that the wide range of investors would also improve price formation. Institutional Interest as the Long-Awaited Sign for Crypto Regulations US Securities and Exchange Commission (SEC) commissioner Hester...Read More
A bitcoin investment worth $1,200 following the first stimulus checks sent by the US government in April 2020 would have skyrocketed by more than 600% until today to over $8,500. Although this is a spectacular growth for less than a year, the same investment put in Ether would have presented an even better ROI of...Read More
Morgan Stanley might become the next major institution to jump on the Bitcoin bandwagon. According to a recent report by Bloomberg, a unit of Morgan Stanley Investment Management called Counterpoint Global is exploring whether or not BTC would be a suitable option for its current investors. Sourcing people familiar with the matter, the report says...Read More
While the $1.5 billion bitcoin purchase from Tesla caught most crypto insiders and outsiders by surprise, Binance CEO Changpeng Zhao actually predicted the move over a month ago. Simultaneously, full-time BTC basher Peter Schiff was wrong (again) as he said that Elon Musk would not be “dumb enough” for such a move. CZ Was Wright...Read More
While the US still fights the idea of an ETF tracking the performance of BTC, the Ontario Securities Commission (OSC) has approved an application from the financial services company Purpose Investments Inc. to launch such a product in several Canadian territories. The approval document reads that Purpose Investments filed the prospectus under Multilateral Instrument 11-102...Read More
In another bit of bullish news over the past few days, the CEO of one of the world’s largest social media platforms – Twitter’s Jack Dorsey, and renowned artist Jay-Z, have set up a 500 BTC trust to fund Bitcoin development with a primary initial focus on Africa and India. Shawn Corey Carter, better known...Read More
With more institutional investors indicating interest in cryptocurrencies in recent times, Bank of New York (BNY) Mellon has announced that it would be offering crypto-related services later this year. Bank of New York To Hold Bitcoin The New York oldest bank stated in The Wall Street Journal today that it will hold, issue, and transfer...Read More
A 19-year old UK resident was jailed for a drug trafficking operation. He had participated in an attempt to import ecstasy bought with Bitcoin on the Dark Web. Buying Dark Web Ecstasy with Bitcoin The 19-year-old drug dealer is to serve two years in prison after a police investigation discovered he has been dealing with...Read More
The CEO of the world’s largest digital asset manager, Grayscale, says that the demand from institutions has only accelerated in 2021. He also said that the narrative for large corporations to jump on the Bitcoin bandwagon has shifted from “why” to “why not.” Why Not Buy Bitcoin? A couple of years back, the cryptocurrency community...Read More
While Tesla’s $1.5 billion bitcoin purchase shook the world, a Reddit user also caused disturbance as it seemed that he predicted the move a month before it was announced. Giant mass media outlets like Reuters and Bloomberg picked up on the story, but the user later admitted that it was a prank, and he was...Read More
Twitter Chief Financial Officer Ned Segal said that the giant social media platform is looking into potentially putting bitcoin into its balance sheet. Additionally, the executive said that Twitter is exploring options to accommodate employees and vendors if they request to be paid in the first-ever cryptocurrency. Twitter To Put BTC On Its Balance Sheet?...Read More
Tesla’s massive $1.5 billion BTC purchase could be too risky for other large corporations to follow, argued JPMorgan Chase & Co strategists. They reasoned with bitcoin’s volatility that could prevent more old-school investors and individuals from allocating funds in the crypto asset. Corporations May Not Follow Tesla, JPM Says Elon Musk’s electric vehicle and clean...Read More
Elon Musk, the latest billionaire to jump on the BTC bandwagon for his company, Tesla, has openly criticized a cryptocurrency wallet called Freewallet app. The executive lashed out on Twitter and urged digital asset investors to steer clear from wallets that don’t provide them with the private keys. Elon Musk’s Security Tip For Crypto Investors...Read More
Ronald Stephen Baron, an American mutual fund manager and one of Tesla’s major shareholders, has clearly stated that although Tesla’s recent bitcoin acquisition does not come as a surprise to him, he still wants to explore the possible reason behind the purchase. Bitcoin Buy Expected According to a report by CNBC on Monday, Baron said...Read More
With its massive $1.5 billion purchase of bitcoin, the electric vehicle giant Tesla has inadvertently helped the cryptocurrency to surpassed it in terms of market capitalization. With BTC’s price skyrocketing to new highs and its market cap following, bitcoin is now ranked as the 7th largest asset. Bitcoin Surpasses Tesla For The 7th Spot Elon...Read More
