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☆ Bitcoin serves different purposes for different people, says Anthony Pompliano
▼ + stars: | 2024-04-01 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin serves different purposes for different people, says Anthony PomplianoAnthony Pompliano, Pomp Investments founder, joins 'Squawk Box' to discuss the state of bitcoin, the impact of bitcoin halving this month, bitcoin's use case, the case for crypto investing, and more.

Persons: Bitcoin, Anthony Pompliano Anthony Pompliano Organizations: Investments Locations: bitcoin

☆ Crypto investors are bracing for a busy quarter with the Bitcoin halving, ether ETF updates and potential rate cuts
▼ + stars: | 2024-03-30 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

The most important driver in second quarter for bitcoin and crypto, however, could be the Federal Reserve decision on interest rate cuts. Traders are now pricing in a roughly 61% chance of a first Fed rate cut taking place in June, according to the CME FedWatch Tool . Demand has increased from 40,000 bitcoin at the start of the year to 213,000 bitcoin currently, largely driven by ETF buying ahead of the late April Bitcoin halving, according to CryptoQuant. However, the SEC's decision on whether or not to allow spot ether ETFs to trade, due in May, will "very likely" be market moving, he added. "If it's not priced in today, then it very likely will be a market moving event if it happens," he said.

Persons: Bitcoin, Zach Pandl, Pandl, –, bitcoin, Julio Moreno, Chris Kuiper, — CNBC's Ganesh Rao Organizations: Securities and Exchange Commission, Federal, Metrics, Fidelity Digital Assets, CNBC, Fidelity, SEC Locations: U.S, BlackRock

☆ Gold could start to overtake bitcoin as the cryptocurrency stalls at $70,000, says Wolfe Research
▼ + stars: | 2024-03-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Gold has a chance to charge ahead of bitcoin as the flagship cryptocurrency hovers around the $70,000 level, according to Wolfe Research. However, bitcoin has also been mirroring its own moves from 2021, when the cryptocurrency rocketed twice to all-time highs, just before a deep pullback. "The gold vs. bitcoin ratio is nearing support while oversold on a weekly basis," said Ginsberg. "If our feeling on bitcoin is correct, and it continues to consolidate in this $60,000–$73,000 region, it may provide a good opportunity for gold to start outperforming." It has since returned to its highs and looks ready to reaccelerate, Ginsberg said, although selling pressure "has historically come on strong above $70,000."

Persons: bitcoin, Rob Ginsberg, Ginsberg Organizations: Wolfe Research Locations: bitcoin, U.S

☆ It's sentencing day for Sam Bankman-Fried
▼ + stars: | 2024-03-28 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +6 min

In today's big story, disgraced crypto executive Sam Bankman-Fried finds out how long he's going to prison . Sam Bankman-Fried, the ex-CEO of FTX and former face of crypto, will be sentenced in a Manhattan courtroom today. An FTX debtor lawyer told the bankruptcy court that FTX customers and creditors "will eventually be paid in full." AdvertisementGetty Images; Alyssa Powell/BIBut according to some, FTX customers getting their money back is despite SBF, not because of him. Almost a third of young people reported using ChatGPT "for tasks at work."

Persons: —, Sam Bankman, Fried, Chelsea Jia Feng, Lewis Kaplan, E, Jean Carroll, Donald Trump, Insider's Jacob Shamsian, FTX, Alyssa Powell, John J, Ray III, SBF, What's, Bernstein, Toni Sacconaghi, they've, Dan DeFrancesco, Hallam Bullock, George Glover, Grace Lett Organizations: Business, Service, Prosecutors, Big Tech, Companies, Pew, ChatGPT, Microsoft, League Baseball's Locations: Manhattan, New York, London, Chicago

☆ S&P 500 can pull back 7-8% and still keep the 6,100 breakout target: CappThesis' Frank Cappelleri
▼ + stars: | 2024-03-27 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailS&P 500 can pull back 7-8% and still keep the 6,100 breakout target: CappThesis' Frank CappelleriFrank Cappelleri, CappThesis founder and president, joins 'Squawk Box' to discuss bitcoin's price rebound, the latest gold rally, latest market trends, and more.

Persons: Frank Cappelleri Frank Cappelleri

☆ BlackRock says bitcoin returns likely to come down now that it has been embraced by Wall Street
▼ + stars: | 2024-03-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

If you're looking for your bitcoin to go to the moon, the window of opportunity may be slowly closing, according to BlackRock. "Certainly, returns going forward will come down," he said at the Bitcoin Investor Day conference in New York City Friday. That demand was "massive and clear" in 2023, when BlackRock filed to launch its iShares Bitcoin Trust. "I don't think we've seen the end of cycles in bitcoin," Mitchnick said. "[With] bitcoin, when the price goes up, the probabilities of success and adoption in some senses, as digital gold, are also changing," he said.

Persons: Robert Mitchnick, It's, –, Mitchnick, CNBC's Ganesh Rao Organizations: BlackRock Locations: BlackRock, New York, @GC

☆ How to beat the retirement crisis: The founder of America's top wealth advisor explains how to properly save, and shares 2 sectors that could expedite returns if you're not on track
▼ + stars: | 2024-03-26 | by ( Laila Maidan | ) www.businessinsider.com time to read: +7 min

But let's say you're 30 years old and haven't started stashing money away; you may have difficulty getting there. And as a result of this, if you're going to live during a 30 or 40 year retirement. In Edelman's opinion, you're late to the game if you're over 25 and haven't started saving and investing. When people do set money aside, it's often in the wrong places, such as bank savings, money market accounts, and government bonds, Edelman said. All of this might sound complicated for a beginner, but diversification can be achieved through exchange-traded funds (ETFs), Edelman noted.

Persons: haven't, Ric Edelman, Barron's, Edelman, it's, aren't, Franklin Templeton Organizations: Federal Reserve, Edelman, New York Times, Trust, Vanguard Locations: America

☆ Blackrock says bitcoin will be a good portfolio diversifier despite its recent rally with stocks
▼ + stars: | 2024-03-25 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

Bitcoin is more like digital gold than a so-called "risk-on" asset, according to Robert Mitchnick, BlackRock's digital assets lead. For years, bitcoin's ability to behave in different ways at different times has stumped investors . "Historically bitcoin's long-term average correlation [to stocks] has been close to zero – slightly positive, but close to zero," he said. While the recent rally was spurred by the launch of U.S. bitcoin ETFs, some on Wall Street have suggested that it may have recently fused into the more macroeconomic-fueled gold rally . Risk and portfolio construction That, understandably, adds confusion for newcomers to bitcoin investing, who are drawn to its digital gold-like qualities.

Persons: Robert Mitchnick, BlackRock's, bitcoin, It's, Bitcoin, bitcoin rocketed, Mitchnick Organizations: New York City, Fed, BlackRock Locations: New York

☆ What's behind bitcoin's volatility and ETF outflows?
▼ + stars: | 2024-03-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWhat's behind bitcoin's volatility and ETF outflows? Hosted by Brian Sullivan, “Last Call” is a fast-paced, entertaining business show that explores the intersection of money, culture and policy. Tune in Monday through Friday at 7 p.m. ET on CNBC.

Persons: Brian Sullivan, “ Organizations: CNBC

☆ 'Act like you're dead': What Anthony Scaramucci tells clients nervous about bitcoin's big swings
▼ + stars: | 2024-03-23 | by ( Phil Rosen | ) www.businessinsider.com time to read: +2 min

Bitcoin investors shouldn't sell amid high volatility, Anthony Scaramucci said. He said clients have been dismayed by the crypto's big price swings. He said at the Bitcoin Investor Day conference that his advice to clients is to "act like you're dead." "So act like you're dead with your bitcoin and don't sell your bitcoin. That occurrence, industry experts say, could create a supply shock and ultimately push the price of bitcoin higher.

Persons: Anthony Scaramucci, —, Anthony Pompliano, Scaramucci, Donald Trump, Charles Schwab, Bitcoin, Cathie Wood Organizations: Service, SkyBridge, Wall Street, White, Communications, Securities and Exchange, BlackRock, Fidelity, SEC

☆ MicroStrategy's debt-fueled bitcoin purchases helping drive froth, raising risk of downturn, JPMorgan says
▼ + stars: | 2024-03-19 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

"In our mind, these debt-funded bitcoin purchases add froth to the current crypto rally by raising the risk of severe deleveraging in a potential downturn in the future," he added. MicroStrategy raised $604 million from the sale of converts on March 18, and another $800 million on March 8 . The latest purchases mark an acceleration from the fourth quarter pace, when MicroStrategy bought more than $1 billion of bitcoin. Originally launched as an enterprise business software company, Microstrategy has been buying bitcoin and holding them on its balance sheet since 2020. It largely trades as a proxy for the price of bitcoin, and in February of this year leaned into that, rebranding itself a Bitcoin development company.

Persons: JPMorgan's Marko Kolanovic, MicroStrategy, Microstrategy, Kolanovic, bitcoin, — CNBC's Michael Bloom Organizations: Momentum Locations: bitcoin, cryptocurrencies

☆ The cocoa market is so hot that the commodity has crushed bitcoin's 150% gain in the last year
▼ + stars: | 2024-03-18 | by ( Phil Rosen | ) www.businessinsider.com time to read: +3 min

Cocoa prices are hovering near historic highs around $8,000 per metric ton. The chocolate commodity has outperformed bitcoin in the last year, gaining more than 200%. A bad harvest and lack of investment have sent cocoa prices higher over recent months. Related storiesRoughly three-fourths of the world's cocoa, per Bloomberg, comes from four countries in West Africa: Ivory Coast, Ghana, Cameroon, and Nigeria. Last month, chocolate giants Hershey and Cadbury both warned of potential price hikes for consumers in light of the cocoa supply shortage.

Persons: —, that's Organizations: Service, Bloomberg, Processors, Reuters, International Cocoa Organization, Hershey, Cadbury Locations: West Africa, Ivory Coast, Ghana, Cameroon, Nigeria

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin slips further below $68,000, adding to weekend losses: 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, Jason Urban, global head of trading at Galaxy Digital, explains what's driving bitcoin's price further below $70,000 after reaching new all-time highs over the past couple of weeks.

Persons: explainers, Jason Urban Organizations: CNBC Crypto, CNBC, Galaxy Digital

☆ Bitcoin is poised to climb above $80,000 as investors pile into ETFs, Binance CEO says
▼ + stars: | 2024-03-18 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +2 min

Bitcoin is set to top $80,000 on strong ETF inflows, Binance CEO Richard Teng said. After hitting a record high of $73,679 early last week, bitcoin tumbled back below $70,000. The boss of the world's biggest crypto exchange, Richard Teng, said he now sees the crypto poised to jump past $80,000 after initially predicting it would end the year around that level. Related storiesHe acknowledged that volatility would still shake the world's biggest crypto and that the uptrend won't be a "straight line." AdvertisementBitcoin soared to its record high of $73,679 last week.

Persons: Richard Teng, bitcoin, —, We're, Teng, Kris Marszalek Organizations: Service, Bloomberg, CNBC Locations: Bangkok

☆ Bitcoin to rally to $150,000 this year and could touch $250,000 in 2025, Standard Chartered says
▼ + stars: | 2024-03-18 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +2 min

The excitement around the arrival of bitcoin ETFs and the subsequent surge to new highs for the cryptocurrency is making even bitcoin bulls raise their expectations. "We raise our long-held price estimate to the USD 150,000 level from USD 100,000 given the more rapid pass-through from ETF inflows to the BTC price to date," the note said. The new bitcoin ETFs have pulled in billions of dollars from investors since their January launch, even with the Grayscale Bitcoin Trust seeing heavy outflows. The iShares Bitcoin Trust (IBIT) has raked in more than $12 billion on its own, according to FactSet. The quick growth of the bitcoin ETFs has boosted confidence that there are more investors interested in crypto who have been reluctant to buy it through crypto exchanges.

Persons: Geoff Kendrick, Kendrick Organizations: BTC, Metrics, bitcoin Locations: Bitcoin

☆ Why ether's high price could be at risk despite strong supply and demand outlook
▼ + stars: | 2024-03-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +3 min

The Ethereum network successfully completed its "Dencun" upgrade on Wednesday, which is meant to help it become faster and cheaper to use. The price of ether has been trading lower since then, which was expected based on the cryptocurrency's behavior following previous tech upgrades. "High activity on the Ethereum network has caused high transaction fees and, consequently, more fees burnt," Julio Moreno, CryptoQuant's head of research, said in a note Wednesday. High transaction activity causes network fees to spike, more fees being burnt and total supply to decrease." They're hoping that the combination of increased activity and the decrease in the supply of ether over time will push the token's price higher.

Persons: CryptoQuant, Julio Moreno, CryptoQuant's, William Ogden Moore Organizations: ETH, They're, bitcoin, Securities and Exchange Locations: Dencun, Solana, U.S

☆ Here's what bitcoin experts see ahead for the world's biggest cryptocurrency
▼ + stars: | 2024-03-17 | by ( Yuheng Zhan | ) www.businessinsider.com time to read: +5 min

The narrative on bitcoin is still bullish, though commentators see more volatility ahead. Bernstein analysts wrote this week that the rally firms up their view that bitcoin is on track to hit $150,000 by mid-2025. Here's what some of the market's top commentators have said about the outlook for the world's most popular cryptocurrency. Related stories"We built bitcoin institutional flows in our estimates to arrive at bitcoin price. Saylor said that following the bitcoin halving in April, dwindling supplies would continue to fuel demand, propelling the price momentum even higher, saying "the natural sellers are the miners."

Persons: Bitcoin, Bernstein, —, Kris Marszalek, Gautam Chhugani, Mahika Sapra, Michael Novogratz, Jamie Dimon, He's, Michael Saylor, Saylor Organizations: Service, CNBC, Galaxy, Galaxy Digital, Wednesday, JPMorgan JPMorgan, Australian Financial

☆ Bitcoin may start to lose its reputation as a volatile asset. Here's why
▼ + stars: | 2024-03-16 | by ( Meredith Mutter | ) www.cnbc.com time to read: +2 min

Bitcoin may start to lose its reputation as a volatile asset. According to Bitwise Asset Management's Matt Hougan, the cryptocurrency's wild price swings have come down substantially over the past decade. "What's driving the bitcoin market right now is a simple demand-supply imbalance," the firm's chief investment officer told CNBC's "ETF Edge" on Monday. While Bitwise is betting on bitcoin's growth, ProShares has an ETF looking to profit from losses with its Short Bitcoin Strategy ETF . Hyman's ProShares also operates a long-bitcoin ETF: ProShares Bitcoin Strategy ETF.

Persons: Matt Hougan, CNBC's, Bitcoin, Hougan, Mark Twain, Simeon Hyman, Hyman, bitcoin Organizations: CNBC

☆ Bitcoin's halving is unlike others before it: A supply shock colliding with a demand tidal wave
▼ + stars: | 2024-03-16 | by ( Phil Rosen | ) www.businessinsider.com time to read: +5 min

A bitcoin halving — when the number of tokens rewarded to miners gets cut by 50% — happens reliably every four years. This time, however, supply will slow within months of an unprecedented demand shock, fueled by the approval of 11 spot bitcoin ETFs from asset management titans including BlackRock and Fidelity. AdvertisementAnd what's new this year is the wave of demand from bitcoin ETFs. Recent weeks have seen single-day inflows into spot bitcoin ETFs topping $1 billion, BitMex data shows. "We've never had both a supply shock and a demand shock at the same time."

Persons: —, Sandy Kaul, Franklin Templeton's, bitcoin, it's, Greg Magadini, Magadini, Kaul, We've, Samir Kerbage, doesn't, Kerbage, Brian Rudick, Rudick Organizations: Service, BlackRock, Fidelity, Business

☆ Bitcoin shows its volatility once again, tumbling back to $67,000 in overnight decline
▼ + stars: | 2024-03-15 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +1 min

Data from Coin Metrics shows bitcoin was trading above $72,000 late Thursday night before fall to about $67,000 on Friday, a decline of roughly 7%. Bitcoin is still up about 57% year to date, and the overnight drop came from near record highs. The cryptocurrency has climbed over the past few months, in part due to anticipation and then demand from the new bitcoin ETFs that launched in the U.S. in January. Rapid rallies and steep drops have been a recurring feature of bitcoin's history. Crypto optimists say that the volatility of the asset class should decline as bitcoin matures.

Persons: Bitcoin, Kris Marszalek, bitcoin, Crypto Organizations: Coin Metrics, Rapid Locations: U.S

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin falls below $70,000 in overnight sell-off: 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, Thomas Perfumo, Kraken's head of strategy, weighs in on what's behind bitcoin's moves lower after hitting new records over the past two weeks.

Persons: explainers, Thomas Perfumo Organizations: CNBC Crypto, CNBC Locations: what's

☆ YouTube's mass exodus of stars show the uncertainty of the creator economy
▼ + stars: | 2024-03-13 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. In today's big story, we're looking at a potential exodus of stars from YouTube and what it means for the creator economy. What's on deck:This story is available exclusively to Business Insider subscribers. AdvertisementBut some people who helped fuel YouTube's rise are walking away from the platform that gave them their big break. TikTok's challenges represent the ongoing uncertainty content creators face trying to make a living in such an unpredictable and shrinking world.

Persons: —, we've, Rebecca Zisser, It's, Insider's Lindsay Dodgson, MatPat, Lindsay, Andy Kiersz, Critics, it's, Alistair Barr, Dan, Jamie Dimon doesn't, Dimon, Karim Qubadi, Abanti Chowdhury, OpenAI, Musk's, Christopher Nolan's, Tyler Le, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, YouTube, Business, Nielsen, Gaming, ISI, SensorTower, BI, CPI, JPMorgan, Elon, University of Chicago, Quest, realtors, Meta, Google, Companies, Adidas Locations: United States, New York, London

☆ We're still 'right in the middle' of the bitcoin cycle, says VanEck CEO Jan Van Eck
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWe're still 'right in the middle' of the bitcoin cycle, says VanEck CEO Jan Van EckJan Van Eck, VanEck CEO, joins 'Closing Bell Overtime' to talk its spot bitcoin ETF, bitcoin's recent rally, the state of crypto and more.

Persons: Jan Van Eck, Van Eck Locations: VanEck

☆ Bitcoin's latest rally is mostly an adoption story, says Galaxy Digital CEO Michael Novogratz
▼ + stars: | 2024-03-13 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin's latest rally is mostly an adoption story, says Galaxy Digital CEO Michael NovogratzGalaxy Digital CEO Michael Novogratz joins 'Squawk Box' to discuss the latest bitcoin rally, how much of it can be attributed to supply/demand dynamics, what it means for cryptocurrency at large, prospects of a spot ethereum ETF, and more.

Persons: Michael Novogratz Organizations: Galaxy Digital, Michael Novogratz Galaxy Digital

☆ Bitcoin hits fresh record high above $71,000 as UK opens the door to crypto exchange-traded products
▼ + stars: | 2024-03-11 | by ( Ryan Browne | ) www.cnbc.com time to read: +1 min

Bitcoin prices rallied on Monday to hit a fresh record high above $71,000, after the British financial watchdog said it would allow institutions to file applications for cryptocurrency-linked exchange-traded products for the first time. Exchanges would need to ensure they have sufficient controls in place, so that trading is orderly and proper protection is afforded to professional investors. They must meet all the requirements of the U.K.'s listings regime, issuing prospectuses and ongoing disclosures. ET, hitting a fresh all-time high. Please check later for updates.

Organizations: Financial, Authority

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