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☆ Bitcoin's Wild Price Booms and Busts Are Going to Continue Forever
▼ + stars: | 2024-03-06 | by ( Emily Stewart | ) www.businessinsider.com time to read: +8 min

The main explanation for the recent gain in bitcoin's price is the Securities and Exchange Commission's begrudged blessing of spot bitcoin exchange-traded funds, investment vehicles that track bitcoin's price. As bitcoin ETF providers have to invest in the underlying assets — bitcoins — demand for those assets increases. "The speed of the come-up is much faster than I thought," he said, adding that he was specifically surprised at retail-trader activity in the bitcoin ETFs. (Also, not everyone agrees it will be good for bitcoin's price.) Or maybe, just maybe, the latest run will cement bitcoin's future as a more stable part of people's investment portfolios.

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☆ Here are Thursday's biggest analyst calls: Apple, Nvidia, Snowflake, Coinbase, Skechers, Tesla, Berkshire Hathaway & more
▼ + stars: | 2024-02-15 | by ( Michael Bloom | ) www.cnbc.com time to read: +9 min

Here are Thursday's biggest calls on Wall Street: Macquarie downgrades Sony to neutral from buy Macquarie said it sees a more balanced risk/reward for the entertainment company. "With Sony near our target price and market expectations at risk given lacklustre FY3/25 guidance, we are downgrading to Neutral." Deutsche Bank reiterates Rocket Lab as a top pick Deutsche said it's standing by its bullish status on the space company. " Bank of America initiates Super Micro as buy Bank of America said the server and storage solutions company is an AI beneficiary. Bank of America reiterates Uber as buy Bank of America said it's feeling more bullish after the company's investor day.

Persons: Macquarie, Davidson, DA, Piper Sandler, Piper, KeyBanc, Evercore, Skechers, Price, Bernstein, underperform Bernstein, Redburn, Eastman, Morgan Stanley, Wells, Morgan Stanley downgrades, Guggenheim, Generac, Uber, Tesla, KBW, Berkshire Hathaway Organizations: Macquarie, Sony, JPMorgan, Deutsche Bank, Deutsche, Nvidia, Citi, FedEx, Apple, HSBC, GE Healthcare, GE, Crypto, UBS, Downside, Eastman Chemical, Comcast, Cisco, Cliffs, Steel, " Bank of America, Air Products, of America, Linde, Bank of America, Micro, Inc, Guggenheim, Mizuho, Energy, BMO, CNBC, & $ Locations: Nashville, China, Morgan Stanley downgrades Cleveland

☆ Jack Dorsey showed up to the Super Bowl rocking a 'Satoshi' t-shirt
▼ + stars: | 2024-02-12 | by ( Lina Batarags | ) www.businessinsider.com time to read: +3 min

Jack Dorsey was at the Super Bowl. He wore a t-shirt that says "Satoshi," emblazoned in the style of a Nirvana t-shirt. And we saw Jack Dorsey in a t-shirt that's making waves on X, formerly known as Twitter. That's because Dorsey can be seen sporting a black t-shirt that says "Satoshi" in yellow lettering. AdvertisementJUST IN: Jack Dorsey spotted wearing a Satoshi #Bitcoin shirt at the #SuperBowl 🏈 pic.twitter.com/oDUySC5p7X — Bitcoin Magazine (@BitcoinMagazine) February 12, 2024Two things to note here:Satoshi Nakamoto is said to be the inventor of bitcoin.

Persons: Jack Dorsey, Satoshi, —, It's, Tim Cook, Taylor Swift, Dorsey —, Beyonce, Jay, Dorsey, miley, ike Organizations: Super, Service, Twitter

DAVOS, Switzerland — Bitcoin does nothing, JPMorgan Chase CEO Jamie Dimon said Wednesday on the sidelines of the World Economic Forum. "This is the last time I'm talking about this with CNBC, so help me god," Dimon said. "I defend your right to do bitcoin," Dimon added, saying, "I don't want to tell you what to do. When asked what he made of Larry Fink changing his view on bitcoin as BlackRock jumped into the spot ETF business, Dimon said, "I don't care. "I don't know what he would say about blockchain versus currencies that do something versus bitcoin that does nothing," Dimon added.

Persons: Jamie Dimon, bitcoin, Dimon, blockchain, Smart, Franklin Templeton, Larry Fink, I'm Organizations: JPMorgan, Economic, CNBC, SEC, WisdomTree, Chartered, BlackRock Locations: DAVOS, Switzerland, Davos, BlackRock, bitcoin

When 2023 began, a single bitcoin could be had for less than $17,000 after losing more than 75% of its value. But fueling this latest rally are prospects for the possible approval of spot bitcoin exchange traded funds — a pooled investment security that can be bought and sold like stocks. While analysts expect the potential approval of spot bitcoin ETFs to create a much larger pool of crypto investors, future volumes could go either way, Carey added. Despite the recent excitement around bitcoin, experts still maintain that crypto is a risky bet with wildly unpredictable fluctuations in value. As of around 1:30 p.m. Eastern time Monday, the price of bitcoin stood at $41,709.

Persons: Bitcoin, Riyad Carey, Carey, Binance, Changpeng Zhao, ”, “, Edward Moya, FTX, bitcoin Organizations: Federal, Industry, Regulators, Associated Locations: Silicon, bitcoin, cryptocurrencies, U.S

When 2023 began, a single bitcoin could be had for less than $17,000 after losing more than 75% of its value. Now, bitcoin is getting another boost on the prospects of creating a much larger pool of investors. IShares Bitcoin Trust appeared to be temporarily removed Tuesday, but was back online as of Wednesday. Still, the most recent surge bitcoin goes beyond single developments or participants, Kaiko research analyst Riyad Carey notes — crediting “more of a broad market rally" around spot bitcoin ETF prospects. Despite the recent excitement around bitcoin, crypto is still a risky bet.

Persons: Bitcoin, hasn't, Edward Moya, IShares Bitcoin, iShares, Moya, Riyad Carey, “, —, “ We’re, it’s, ”, it's, ” Moya, bitcoin Organizations: Federal Reserve, Industry, Columbia, Securities and Exchange Commission, Grayscale's, SEC, Depository Trust, Clearing Corporation, Associated Press Locations: Silicon, bitcoin, cryptocurrencies

The case has been closely watched by the cryptocurrency and asset management industries, which have been trying for years to convince the SEC to approve a spot bitcoin ETF. While the agency has rejected spot bitcoin ETFs, it has approved bitcoin futures ETFs, which track agreements to buy or sell bitcoin at a pre-agreed price. Grayscale argued that the bitcoin futures ETF surveillance arrangements should also be satisfactory for Grayscale's spot ETF, since both products rely on bitcoin's underlying price. Bitcoin futures ETFs track bitcoin futures that trade on the Chicago Mercantile Exchange (CME), the chief venue for those products. The court's panel of judges said Grayscale showed that its proposed bitcoin ETF is "materially similar" to the approved bitcoin futures ETFs.

Persons: Dado Ruvic, Grayscale's, Donald Verrilli Jr, Hannah Lang, Michelle Price, Nick Zieminski Organizations: REUTERS, U.S, District of Columbia, Securities and Exchange Commission, SEC, New York Stock, Arca, Chicago Mercantile Exchange, CME, bitcoin, Supreme, Nasdaq, BlackRock, Fidelity, Thomson Locations: bitcoin, U.S, Washington

What is the bitcoin halving? The event cuts the rewards to bitcoin miners — volunteers running specialized equipment to validate transactions on the network and mint new tokens — by 50%. Currently, bitcoin miners receive 6.25 bitcoin for each block they successfully mine. Once the next bitcoin halving occurs, this reward will be reduced to 3.125 bitcoin. This would correlate with the next expected Bitcoin halving date, which is another 378 days ahead."

☆ Bitcoin and Ether are down 3% after CFTC sued Binance and its CEO over US regulatory violations
▼ + stars: | 2023-03-28 | by ( Huileng Tan | ) www.businessinsider.com time to read: +2 min

Cryptocurrencies are trading lower after CFTC sued major exchange Binance for regulatory violations. Bitcoin and Ether are trading around $27,000 and $1,700 respectively, about 3% lower over the past 24 hours. Bitcoin and Ether prices are around $27,000 and $1,700 per token respectively, per CoinMarketCap data. The US regulator said in a complaint filed in a Chicago federal court Monday that Binance breached eight provisions of the Commodity Exchange Act. The CFTC said Binance "lucrative and commercially important 'VIP'" customers, including institutional customers in the US while disregarding registration and regulatory requirements under the US law.

☆ How crypto prices may react to the latest Fed decision
▼ + stars: | 2023-03-22 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The Fed is due to conclude its two-day meeting and unveil its latest policy decision at 2 p.m. Still, inflation and Fed rate hikes remain the biggest catalysts for bitcoin. Here are three scenarios Chhugani and Agrawal are watching, and what investors how investors could expect to see prices react. "Crypto markets may rally on the immediate risk-on impulse, and it may vindicate some who have been saying the Fed reversed course, after breaking the banks," they said. "But any near term crypto rally would find it hard to sustain growth if crypto simply pivots to a risk on trade."

☆ Inside the world of high-end crypto rehab centers, where a 4-week stay can cost you $320,000 and no luxury is spared
▼ + stars: | 2023-03-20 | by ( Nidhi Pandurangi | ) www.businessinsider.com time to read: +9 min

Crypto addiction is like a "casino in your pocket" says the founder and CEO of The Balance, a crypto rehab center. Enter: luxury crypto rehab centers. It calls itself the "world's best luxury rehab center and mental health clinic" and a "safe haven where you can find recovery, peace, rest, and happiness." The Diamond rehab center, ThailandAnd then there's the property's luxury offerings: a spa, golfing, boat trips, and sporting activities. The Diamond rehab center, ThailandThe Diamond started offering crypto rehab services at the beginning of 2021.

The events of the year took many investors by surprise and made the task of predicting bitcoin's price that much harder. The crypto market was awash with pundits making feverish calls about where bitcoin was heading next. When asked about his $250,000 target earlier this month, the Draper Associates founder told CNBC $250,000 "is still my number" — but he's extending his prediction by six months. The entrepreneur says he's also done making bitcoin price predictions. Buehler said lack of risk management in the crypto industry, missing regulation and fraud have also been major factors affecting prices.

☆ The FTX disaster has set back crypto by 'years' — here are 3 ways it could reshape the industry
▼ + stars: | 2022-12-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

It aims to reduce the risks for consumers buying crypto, making exchanges liable if they lose investors' assets. The saga has set back adoption of crypto assets by "one or two years," according to Evgeny Gaevoy, founder and CEO of crypto market maker Wintermute. ConsolidationMany new companies and projects emerged in the years that followed the 2018 crypto winter — FTX among them. Marieke Flament, Near's CEO, said the firm had limited exposure to FTX — though the collapse was still "a surprise and a shock." Fears have risen over the financial health of other major crypto exchanges after FTX's failure.

☆ I was in El Salvador, where bitcoin was accepted everywhere. Here's why their risky crypto experiment just might work.
▼ + stars: | 2022-03-16 | by ( Alex Kantrowitz | ) www.businessinsider.com time to read: +5 min

Bitcoin enthusiasts are waiting to see if if the bitcoin experiment will succeed, or tragically implode. Right after I hopped out the back of a pickup in El Zonte, El Salvador, I recognized I wasn't in an ordinary beach town. The bitcoin movement in El Salvador began in El Zonte when a California surfer named Mike Peterson received an anonymous $100,000+ bitcoin donation for the town's residents. For bitcoin's true believers, there's a ton riding on the El Salvador experiment. El Salvador's bitcoin experiment may not work, it could implode, but there's a chance it succeeds, and that makes it worth trying.

☆ India's young investors prefer crypto to gold and 'boring' stocks
▼ + stars: | 2022-03-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +8 min

New Delhi CNN Business —Indian businesswoman Swati Daga first bought bitcoin in 2017, when the cryptocurrency was trading well under $3,000. “I find stock markets boring,” she told CNN Business, adding that she enjoys the “thrill” and “recklessness” that comes with investing in volatile currencies. The growth is driven by younger investors — mostly under the age of 35 — and many of them are coming from smaller cities and towns, founders of two of India’s biggest crypto exchanges told CNN Business. WazirX also has over 10 million users, and called 2021 a “phenomenal year” for crypto trading in India. On-again, off-again relationshipThe excitement over crypto is rising in India despite the country’s on-again, off-again relationship with digital currencies.

☆ Время коинов: стоит ли сейчас вкладываться в критовалюту?
▼ + stars: | 2021-04-02 | by ( ) newsmaker.md time to read: +6 min

Но, если говорить о глобальной перспективе, долгосрочных инвестициях, то уже очевидно, что Bitcoin пробьет потолок и в $100 тыс. — Никто не может дать стопроцентных гарантий надежности вложений в криптовалюту, ровно как и в любую другую отрасль. В Молдове криптовалюты не регулируются. НБМ отдельным релизом объявил, что никак не влияет и не надзирает за обращением коинов, поэтому все действия производятся на свой страх и риск. Если есть желание рискнуть, то целесообразно делать вложения во множество недорогих коинов.

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