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Up to this point, wealth management businesses have only facilitated trades if customers specifically requested exposure to these new spot crypto funds. Of Morgan Stanley's $1.5 trillion in assets under management, the bank disclosed in a May 13F filing that it held around $270 million in spot bitcoin ETFs. The expectation is that other wirehouses and asset managers, who have been on the sidelines performing in-house due diligence on spot crypto ETFs, might feel the pressure to soon follow Morgan Stanley's lead. The spot ether ETFs, which launched less than three weeks ago, have seen relatively tepid flows compared to the blockbuster launch of spot bitcoin ETFs in January. The bitcoin funds collectively hold $54.30 billion in assets under management, versus $7.25 billion across the spot ether funds.
Persons: Morgan Stanley, Morgan, Morgan Stanley's Organizations: BlackRock, Fidelity Locations: bitcoin, Japan, lockstep
Bitcoin's price has been particularly volatile as of late. The coin both rose and fell this week, at one point dropping by about 7% in a single hour alone. These recent movements in bitcoin's price serve as a stark reminder of how erratic the cryptocurrency can be and why financial planners often consider it a discretionary investment. Although bitcoin's price has roughly doubled in value since August 2023, it's not an appropriate investment for everyone, especially those with a lower risk tolerance. Bitcoin's frequent price fluctuations undermine its reliability as a store of value or as a hedge against inflation, at least in the short term.
Persons: that's, it's, shouldn't
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via Email'The Black Swan' author Nassim Taleb on bitcoin: Not a hedge against your assets meltingNassim Taleb, Universa Investments distinguished scientific advisor and ‘The Black Swan’ author, joins 'Squawk Box' to discuss the latest market trends, what to make of the market sell-off, the Fed's inflation fight, interest rate outlook, bitcoin's volatility, and more.
Persons: Swan, Nassim Taleb, Taleb, Organizations: Universa Investments
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin can soar past $100,000 despite recent sell-off: Ava Labs president John WuAva Labs president John Wu weighs in on catalysts contributing to bitcoin's recent sell-off and discusses where he expects crypto markets to head next as the volatile trading week continues. He also discusses utility on the Avalanche blockchain amid new government agency partnerships.
Persons: John Wu Ava, John Wu Organizations: Ava, Avalanche
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitwise CIO Matt Hougan on why bitcoin is a hedge asset in periods of uncertaintyMatt Hougan, chief investment officer at Bitwise Asset Management, joins CNBC's Tanaya Macheel on "Crypto World" to discuss bitcoin's safe haven narrative after Monday's big market sell-off.
Persons: Matt Hougan Organizations: Bitwise Asset Management
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with 'The Black Swan' author Nassim TalebNassim Taleb, Universa Investments distinguished scientific advisor and ‘The Black Swan’ author, joins 'Squawk Box' to discuss the latest market trends, what to make of the market sell-off, the Fed's inflation fight, interest rate outlook, bitcoin's volatility, and more.
Persons: Swan, Nassim Taleb Nassim Taleb, Organizations: Universa Investments
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin's narrative as a stored value is being decimated as we speak, says Tezos' Kathleen BreitmanKathleen Breitman, Tezos co-founder, joins 'Squawk Box' to discuss the state of crypto, what to make of the global sell-off, and more.
Persons: Tezos, Kathleen Breitman Kathleen Breitman
Cryptocurrencies were among the hardest assets hit this morning as bitcoin slid 15% toward its worst day since June 2022. The turmoil has investors wondering, once again: what happened to the narrative that bitcoin is a store of value, and a hedge against uncertainty? For short- and even medium-term traders it may not be, since it trades so closely with risk assets. "That's, in a way, why [it] tends to have a more solid floor than other risk assets like equities … because of the diversity of their narrative." Before this weekend bitcoin was supported by a strong floor of about $55,000 and has struggled to break through its $70,000 ceiling.
Persons: bitcoin, Bitcoin, it's, Noelle Acheson Organizations: Dow Jones, Nasdaq, CNBC, Marathon
Bitcoin 2024 attendee wears "Make Bitcoin Great Again" baseball cap. Trump said on Saturday that his campaign has raised $25 million from the crypto industry since it began accepting cryptocurrency donations in May. "Make Bitcoin Great Again" hats displayed for sale at the Bitcoin 2024 conference in Nashville, Tennessee, US, on Saturday, July 27, 2024. "The rules will be written by people who love your industry, not hate your industry," Trump declared that afternoon in the main auditorium as he warmed up the crowd. As Riot's Les put it, "I think the core message that we communicated to President Trump was, 'This is your industry leadership group.
Persons: Donald Trump, Jon Cherry, Donald Trump White, Tyler, Cameron Winklevoss, Paul Grewal —, David Sacks, Cantor Fitzgerald, Howard Lutnick, Cynthia Lummis, Bill Hagerty, Marsha Blackburn, Vivek Ramaswamy —, Kid Rock, Billy Ray Cyrus, Jason Les, Fred Thiel, Zach Bradford, Chris Cook, Amanda Fabiano, Michael Saylor wasn't, Saylor, Trump, That's, Donald Trump's, Les, he's, litigator, Tracy Hoyos, Cyrus strummed, " Hoyos, López, Hoyos, Cyrus, López Trump, Marathon's Thiel, Thiel, David Bailey, Bailey, Sen, Elizabeth Warren, Gary Gensler —, Kamala Harris, Cook, Saturday's, CleanSpark's Bradford, Riot's Les, indoctrinating, Bradford, they've, It's, we're Organizations: Republican, Getty, Music City Center, GOP, Gemini, Trump, U.S ., State Department, Marathon Digital Holdings, CNBC, Music City, Riot, Attorney, Bitcoin, BTC Inc, U.S . Securities, Exchange, US, Bloomberg, indoctrinating Trump, Industry, Mar Locations: Nashville , Tennessee, San Francisco, Nashville, Mar, Lago, U.S, San Bernardino County, López
"For too long our government has violated the cardinal rule that every bitcoiner knows by heart: Never sell your bitcoin," Trump said at this year's Bitcoin Conference in Nashville. Kennedy went further than Trump, promising to establish a 4 million bitcoin strategic reserve to match the country's current stake in gold, some of which is held near the military base at Fort Knox. But Trump's reservation speaks to the complications of promising a bitcoin strategic reserve on par with the gold standard. An executive order would not be enough to bring a U.S. bitcoin reserve into existence. That existing bitcoin stockpile could act as the foundation for the bitcoin strategic reserve, which the U.S. government would build on by regularly buying a certain number of bitcoin.
Persons: Donald Trump, Marco Bello, Trump, Trump's, didn't, Tyler, Cameron Winklevoss, Kid Rock, Cynthia Lummis, Bill Hagerty, Marsha Blackburn, Robert F, Kennedy Jr, Kennedy, bitcoin, Sen, Lummis, Per Sen, Joe Biden, Kamala Harris, Fred Thiel Organizations: Reuters NASHVILLE —, Republican, U.S . Marshals Service, Trump, U.S . Treasury, Bitcoin Conference, Saturday, Wyoming, U.S, Treasury Department, House, Independents, Democratic, U.S . Securities, Exchange Commission, U.S . Locations: Charlotte , North Carolina, U.S, Nashville, United States of America, Germany, Fort Knox, Washington, United States, bitcoin
Bitcoin's price has surged by more than 500% over the past five years. According to TipRanks, the 10 stocks below are buy-rated and score well on other metrics. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . The round of spot bitcoin ETFs approved by the Securities and Exchange Commission in January helped increase flows into the asset. This story is available exclusively to Business Insider subscribers.
Persons: TipRanks, , bitcoin, Franklin Templeton Organizations: Service, Securities and Exchange Commission, Wall, Fidelity, Business Locations: BlackRock, bitcoin
Australian dollars are seen in an illustration photo February 8, 2018. The two Antipodean currencies, often used as liquid proxies for the Chinese yuan, were flat after slumping in the previous session in the wake of the news. The Australian dollar was trading at $0.6643 early on Tuesday and the New Zealand dollar dipped 0.01% to $0.5979. In the broader market, currency moves were subdued as traders looked to central bank meetings in the U.S. and Japan next week. In cryptocurrencies, bitcoin fell 0.7% to $67,665, retreating from an over one-month top hit in the previous session.
Persons: Daniel Munoz, China's, Rodrigo Catril, Joe Biden's, NAB's, bitcoin, Rae Wee, Stephen Coates Organizations: REUTERS, New, New Zealand, National Australia Bank, NAB, Trump, U.S, Treasury, Thomson Locations: SINGAPORE, New Zealand, China, U.S, Japan
Bitcoin led the crypto market lower on Tuesday – the first trading day for ether ETFs – as Mt. Gox transferred more bitcoin to creditors and investors took profits following the cryptocurrency's best week since March. The market is expected to absorb the negative impact, thanks to long-term optimism on the success of ether ETFs as well as the U.S. presidential election. "Part of that is the bitcoin ETF adoption is in the early innings – a lot of the largest pools of money for that ETF have not even been turned on yet," he added. He pointed to the launch of bitcoin ETFs in January, when bitcoin surged to a record before plummeting 20% and then advanced to another new high.
Persons: bitcoin, Bitcoin, Gox, Devin Ryan, Nexo, Antoni Trenchev, Ben Kurland, Joe Biden, Kamala, Harris, Trenchev, Kamala Harris, Donald Trump Organizations: Metrics, U.S, JMP Securities, ETH Locations: Gox
Spot ether ETFs could launch as soon as July 22, reports say. Wall Street has issued a range of outlooks on how the world's second-largest cryptocurrency will move once the ETFs launch. The bank expects these funds to drive $15 billion to $45 billion worth of ether inflows in a 12-month window. Bulls derived their confidence from how bitcoin behaved after its spot ETFs launch in January. They noted bitcoin's first-mover advantage and stressed that the ether token offers functionality that wouldn't be accessible through the ETFs, thus limiting demand.
Persons: , bitcoin, Nikolaos Panigirtzoglou, CoinDesk, Rachel Lin, Alex Kuptsikevich Organizations: Street, Service, Securities and Exchange Commission, Chartered, Bulls, JPMorgan, Citi, Steno, Reuters, Galaxy Digital, ETH, Business
watch nowThere are a lot of synergies between the bitcoin mining and AI infrastructure businesses. watch nowBeefing up the gridFor years, Crusoe's work has been virtually synonymous with the bitcoin mining industry. But Crusoe's Lochmiller told CNBC that AI infrastructure has actually been part of the vision since the company's founding six years ago. Back in 2018, Fenn says that the only load that was a good fit for this was bitcoin mining. "That has all changed now, with AI data centers optimized for massive scale energy availability, cost, and greenness.
Persons: Nolan, Robert Daemmrich, Ali Fenn, Chase Lochmiller, Crusoe's, JPMorgan Chase, Asher Genoot, Riley, CoreWeave, Crusoe's Lochmiller, Lancium's Fenn, Lancium, Fenn Organizations: Corbis, American, Energy Systems, CNBC, Mining, JPMorgan, Nvidia, CoreWeave, Core, ExxonMobil, Crusoe Industries, Miners Locations: Buffalo, Taylor, Abilene , Texas, West Texas, Abilene, Houston, Denver, U.S, Iceland, Miami, North Dakota, Texas
Craig Wright, self-declared inventor of Bitcoin, arrives at federal court in West Palm Beach, Florida, U.S., on Friday, June 28, 2019. LONDON — Craig Wright, an Australian man who claimed to be the inventor of bitcoin , was on Tuesday referred to British prosecutors for committing alleged perjury. On Tuesday, British High Court Judge James Mellor decided to refer a case against Wright's claim to be the inventor of bitcoin to the Crown Prosecution Service — which is the organization that prosecutes criminal cases investigated by the police in England and Wales. The CPS will now consider whether Wright should be prosecuted for what Mellor called "wholescale perjury and forgery of documents," and decide on whether a warrant for arrest and possible extradition is needed. Wright has remained mostly silent since a High Court ruling was issued claiming that he had lied "extensively and repeatedly" in his evidence attempting to prove the case that he was bitcoin's inventor, Satoshi Nakamoto.
Persons: Craig Wright, James Mellor, bitcoin, Wright, Mellor, Satoshi Nakamoto Organizations: LONDON, British, Court, Crown, Service, CPS Locations: West Palm Beach , Florida, U.S, Australian, England, Wales
The Securities And Exchange Commission has filed a lawsuit against cryptocurrency exchange Coinbase for allegedly violating securities laws by acting as an exchange, a broker and a clearing agency without registering with the Securities and Exchange Commission. (Photo Illustration by Justin Sullivan/Getty Images)Coinbase , MicroStrategy and Riot Platforms surged Monday as investors piled into crypto companies following bitcoin's rally to a two-week high. Bitcoin is up about 6% in the past 24 hours, trading at around $63,500 as of early Monday afternoon. Bitcoin accounted for 33% of trading volume on the platform in the first quarter, by far the biggest amount for any cryptocurrency. On Thursday, the company announced a 10-for-1 stock split, in order "to make MicroStrategy's stock more accessible to investors and employees."
Persons: Justin Sullivan, Donald Trump, Trump, Bitcoin, bitcoin Organizations: Securities, Exchange, Securities and Exchange Commission, Republican, Marathon, Miners Locations: CALIFORNIA, San Anselmo , California, Nashville , Tennessee, U.S
Bitcoin hit a two-week high Monday, as betting markets suggested an increased chance of victory for crypto-friendly candidate Donald Trump in the U.S. presidential election. The value of the world's biggest cryptocurrency, bitcoin, was up around 5% at 1:40 p.m. London time, to $62,781.48, according to CoinGecko. The rally follows the dramatic failed assassination attempt on former President Trump on Saturday. Investors said over the weekend they expected so-called "Trump victory trades" to receive a boost. The Trump campaign began accepting donations from the crypto industry in May and his messaging has become increasingly positive on the future of such digital assets.
Persons: Bitcoin, Donald Trump, Trump, Reagan, Ben Emons, Trump's favorability, Zach Pandl, Sen, Elizabeth Warren Organizations: U.S, FedWatch Advisors, Investors, Trump, CNBC, Republican Locations: London
The company said the shares will be split into class A common stock and class B common stock "to make MicroStrategy's stock more accessible to investors and employees." The stock will begin trading on a post-split basis Aug. 8. This February, the company said it would shift its company focus and brand to bitcoin development. Bernstein recently said MicroStrategy is "building the world's largest bitcoin company" and has about 80% upside. MicroStrategy stock is up 106% this year, compared to bitcoin's 38% gain; and 216% in the past 12 months, compared to bitcoin's 91% advance.
Persons: MicroStrategy, Bernstein
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailThe only catalyst we need for bitcoin is time, says Anthony PomplianoAnthony Pompliano, Professional Capital Management CEO, joins 'Squawk Box' to discuss bitcoin's recent volatile run, impact of the 2024 election on the cryptocurrency, price outlook, and more.
Persons: Anthony Pompliano Anthony Pompliano Organizations: Professional Capital Management
Spot ether ETFs could hit the market as soon as this week, pending U.S. Securities and Exchange Commission approval, and Bitwise Asset Management's Matthew Hougan plans to get in on the action. Hougan's firm is applying for spot ether ETFs. Hougan is referring to the first spot bitcoin ETFs that launched in January. Spot bitcoin ETFs have attracted about $15 billion since their launch and currently hold two of the top ETF inflows this year, according to FactSet. Hougan views bitcoin's recent success as unprecedented and sees it as a bullish indicator for spot ether ETFs.
Persons: Matthew Hougan, CNBC's, Hougan Organizations: U.S . Securities, Exchange Commission
That pullback has materialized and according to our Elliott Wave analysis of the bitcoin chart, support has possibly been formed in the zone of $59k - $49k. Looking at the 3-chart overlay below you'll find bitcoin, gold, and US 10-year yields since 2020. First is that gold and Bitcoin (blue and orange) have a very close positive correlation. Pulling it all together higher rates have a negative impact on all three; bitcoin, gold, and the stock market, which are all showing a positive relationship in recent months. In summary, being very bullish on the stock market, I would like to see bitcoin and gold move higher along with lower US yields.
Persons: Bitcoin, Elliott, Todd Gordon, Gordon, IBIT Organizations: Tactical Alpha, Edge, Inside Edge, CNBC, NBC UNIVERSAL Locations: bitcoin
Bitcoin is still on track to see a major rally by the end of the year, Anthony Scaramucci said. Those catalysts include waning selling pressure, crypto repayments, and promising crypto legislation. Around 40%-50% of payouts could end up being reinvested in crypto, Scaramucci estimated, based on the loyalty many "hardcore" early bitcoin investors have. That's one promising sign bitcoin is becoming a more widely accepted storage of value, which is bullish for its long-term trajectory, Scaramucci said. Bitcoin's price has been depressed partly due to temporary selling pressure, Scaramucci said.
Persons: Bitcoin, Anthony Scaramucci, , Scaramucci, That's Organizations: Service, Skyridge, bitcoin, CNBC, GOP, Intelligence Locations: bitcoin, United States
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin's slump continues amid government selling pressures, Mt. Gox repayments: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Matthew Sigel, head of digital assets research at VanEck, weighs in on the recent decline in crypto prices.
Persons: explainers, Matthew Sigel Organizations: CNBC Crypto, CNBC
Bitcoin has also been under selling pressure from the German government as well as collapsed bitcoin exchange Mt. Last month, the German government began selling bitcoin from a wallet operated by the country's Federal Criminal Police Office, referred to locally as the Bundeskriminalamt, or BKA. Bitcoin price reactionIn tandem with these sales, bitcoin has seen its price fall dramatically. At one point in the day, the entire crypto market had shed more than $170 billion in combined market capitalization in a 24-hour period, CoinGecko's data showed. Germany's bitcoin sales aren't the only concern for crypto investors.
Persons: Bitcoin, it's, wasn't, bitcoin, , Nobuaki Kobayashi, James Butterfill, CoinShares, Germany's BKA, Joana Cotar, Cotar, Olaf Scholz, Christian Lindner, Michael Kretschmer, she's, Samson Mow Organizations: Federal Criminal Police, Arkham Intelligence, CNBC, Saxony, Federal Criminal Police Office, German Bundestag Locations: Gox, bitcoin, Germany, Saxony, Federal Republic of Germany, German, Berlin
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