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
Recent research by on-chain analytics provider Glassnode has revealed that Bitcoin’s liquid supply is continuing to decrease as investors progressively acquire and hodl the asset for the long term. The findings indicate that there is currently around 78% of issued Bitcoin are either lost or being hodled. It added that this leaves less than 4...Read More
BTC is becoming a popular feature on the balance sheets of publicly-listed American companies, with many firms committing a significant portion of their equivalent cash balance to the largest cryptocurrency by market capitalization. Apple Should Buy Bitcoin and Create Exchange Platform According to a client note quoted by Bloomberg, RBC Capital Markets, RBC Capital Markets...Read More
Following the news about Tesla’s billion-dollar investment in bitcoin, analysts reveal that the Elon Musk-led company invested around 15% of its net cash into the flagship cryptocurrency. As reported by CryptoPotato earlier today, Tesla made headlines across the crypto verse after it invested $1.5 billion into bitcoin, as revealed in a 10k form filing with...Read More
Bitcoin’s price exploded in the past hour following an announcement from the electric vehicle giant Tesla that it had purchased $1.5 billion of the primary cryptocurrency in January. However, the massive volatility and perhaps growing interest have caused technical difficulties for the Malta-based exchange Binance. CryptoPotato reported earlier today that Elon Musk’s Tesla had allocated...Read More
In a massive turn of events for the entire Bitcoin community, Elon Musk’s Tesla has filed with the SEC, revealing that the company has bought a whopping $1.5 billion in Bitcoin this January. The price of Bitcoin has surged to a new all-time high above $42,000 as an SEC filing revealed that Tesla has bought...Read More
What started as a joke coin has turned into a frenzy endorsed by the world’s richest man Elon Musk, the Winklevoss twins, Snoop Dogg, and numerous others. However, some crypto proponents have highlighted the risks and dangers of this Dogecoin interaction as the token’s market capitalization has exceeded $10 billion. Pro-Dogecoiners Led By Musk The...Read More
More institutional investors are betting big on bitcoin as the digital currency rallied. From gaining acceptance by corporations as a primary reserve asset, the cryptocurrency is now making its way to the portfolio of some of the world’s largest hedge funds. Last month, Bridgewater Associates founder and Ray Dalio called bitcoin an “amazing accomplishment” and...Read More
Cryptocurrency platform OKEx announced another crypto-promoting project –the Bitcoin Lightning Network. It will focus on downsizing transaction fees and reducing time for their execution. OKEx is Aiming at Low Transaction Costs and Promptitude OKEx, the leading cryptocurrency platform and derivatives exchange is to integrate the Bitcoin Lightning Network in the next quarter. The project represents...Read More
Jack Dorsey, a long-term bitcoin enthusiast and unarguably one of the most influential proponents of the digital currency and its underlying technology, is now actively contributing to the bitcoin network. After introducing Bitcoin to Cashapp and announcing plans to release an open, decentralized standard for social media, the Twitter CEO is bringing his admiration for...Read More
This week was undoubtedly an altcoin party. Even though Bitcoin is up quite a bit in the past seven days, it was altcoins that stole the show, charting major increases almost every single day. Let’s start with BTC, though. It began the week at around $34,000 and was rather indecisive in the first few days,...Read More
An Australian man, founder of two multi-million crypto funds in New York, pleaded guilty on a crypto scam charge. The Ponzi scheme used a trading algorithm, taking advantage of price differences for Bitcoin and other cryptocurrencies. Draining almost $90M From Investors According to a recent report, Stefan He Qin organized the fraud that stole about $90...Read More
New statistics from analytics provider Glassnode suggests that the number of Bitcoin whales has increased by more than 200 since the start of 2021. It classifies a ‘whale’ as an account that is holding over a thousand coins which at current prices would be valued at over $37 million. The number of #Bitcoin whales (entities...Read More
A 49-year old U.S. individual has pleaded guilty to a scheme, defrauding hundreds of investors with millions of dollars via a scheme involving bitcoin and cash. In two and a half years, he managed to fraudulently exchange at least $13 million. Illegally Exchanging Tens of Millions of Dollars A 49-year-old man from L.A. pleaded guilty...Read More
Japanese giant SBI Group will include a new addition to its crypto lending service via its subsidiary VC Trade. Apart from the other options, Bitcoin (BTC) and Ethereum (ETH), the organization’s customers will be able to deposit XRP to earn interest as well. Adding XRP to the List of Bitcoin and Ethereum Lending Japanese giant...Read More
Bitcoin is not volatile when compared to fiat currencies, college education, or even real estate, commented the Executive Chairman of NYDIG, Ross Stevens. During an appearance on MicroStrategy’s Bitcoin Educational Conference, the executive also predicted that his organization could top $25B in BTC under management by the end of the year. Stevens: BTC Is Not...Read More
The world’s first ETP tracking the performance of Polkadot will see the light of day on February 4th, 2021, courtesy of 21Shares AG. The firm will release the product on the regulated Swiss stock exchange and will be fully backed by DOT tokens. 21Shares is a Zug, Switzerland-based company with nearly $500 million in assets...Read More
The upcoming Bitcoin Educational Conference organized by Michael Saylor’s MicroStrategy has seen massive interest from CEOs and other executives. Saylor informed that all attendees would benefit from MicroStrategy’s playbook on how to utilize the BTC Monetary Network. CEOs Interested In MicroStrategy’s BTC Educational Campaign CryptoPotato reported in mid-January MicroStrategy’s latest pro-Bitcoin initiative, which aims to...Read More
The restructuring within the BTC derivatives exchange BitMEX continues with the addition of Wai Kin Chim as an Independent Non-Executive Board Director of 100x Group. Additionally, the former Chief Credit Officer (CCO) at the Bank of China and the company’s recently appointed CEO will join the board of directors as of February 1st. Former Bank...Read More
Just a few days after shocking the world by updating his Twitter bio to include only “Bitcoin,” Tesla’s Elon Musk has doubled-down on his support on the cryptocurrency. During a recent speech, Musk said that BTC is on the brink of a broader adoption from traditional financial representatives. According to a Reuters report, Musk showed...Read More
Faced with growing currency devaluation, institutions are adopting bitcoin as a store of value. Bridgewater Associates’ founder, Ray Dalio, has set aside his skepticism for bitcoin to explore this possibility. Dalio Applauds Bitcoin In a recent newsletter, he expressed his admiration for Bitcoin, stating that its longevity is “an amazing accomplishment.” “To have invented a...Read More
Popular blockchain company, Blockstream has purchased $25 million worth of MicroBT’s WhatsMiner M30s Bitcoin mining hardware. Blockstream stated in an announcement that it plans to deploy the hardware across its various mining facilities located in the United States and Canada. A Top Secret Mining Facility Furthermore, Blockstream disclosed that it would allocate some of the...Read More
The largest US-based cryptocurrency exchange Coinbase plans to go for a Direct Public Listing (DPO) of its Class A common stock. The firm expects the Form S-1 filed with the US Securities and Exchange Commission to become effective after the Commission completes its review. Coinbase Aims For Direct Public Listing CryptoPotato reported in December that...Read More
The Grayscale Ethereum Trust, which offers its institutional and accredited investors to take advantage of private placements on several occasions throughout the year, has reopened the initiative of its shares. Grayscale announced resuming the Ethereum Trust private placement earlier, thus enabling accredited investors to allocate funds into the company’s product following the second-largest cryptocurrency. Private...Read More
Bitcoin has to prove itself in order to become a reliable store of value. BlackRock CEO and founder Larry Fink said that the crypto asset might see a bright future, but firstly it has to endure and prove itself. Bitcoin is Still Untested During a recent interview, BlackRock founder and CEO Larry Fink expressed his...Read More
The US financial services company Robinhood continued with restricting its users from accessing its most popular products. After yesterday’s halt of GME stocks, the platform has suspended instant cryptocurrency buying, citing “extraordinary market conditions.” Robinhood’s Restrictions Reach Crypto Following the GameStop sage, in which the company’s stocks went parabolic driven by retail interest, Robinhood barred...Read More
After another day that reminded of the volatility in the cryptocurrency market, Binance has experienced technical difficulties that resulted in temporarily halting withdrawals. Nevertheless, the leading exchange reassured its customers that all funds are safe and later announced it had resolved the problem. CryptoPotato reported earlier that BTC, as well as most alternative coins, skyrocketed...Read More
