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In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBuyers are still the big catalyst for Bitcoin, says Vaneck CEO Jan Van EckJan Van Eck, Vaneck Associates CEO, joins 'Power Lunch' to discuss the boom in Bitcoin's shares and President-elect Trump's crypto plans.
Persons: Jan Van Eck, Van Eck Organizations: Vaneck
Options on BlackRock's popular iShares Bitcoin Trust ETF (IBIT) began trading on the Nasdaq Tuesday, ushering in a new way to trade and speculate on the price of bitcoin. IBIT traded 73,000 options contracts in the first 60 mins of trading Tuesday, Nasdaq told CNBC, placing the fund in the top 20 of the most active nonindex options. The market for options contracts on major ETFs can be extremely active, and are widely used by more sophisticated traders. The launch of the bitcoin ETF options will likely also lead to new funds that incorporate those options, said Todd Sohn, ETF strategist at Strategas. And then we're going to get buffers, and then we're going to get whatever other trend-following-type strategy that folks think of.
Persons: IBIT, Bitcoin, Noelle Acheson, Todd Sohn, " Sohn Organizations: Nasdaq, CNBC, Interactive, Trust, BlackRock Locations: U.S
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin's trend is there it could build to $240k long-term, says Macro Risk's John KolovosJohn Kolovos, Macro Risk Advisors chief technical market strategist, joins 'Closing Bell' to discuss why he expects a robust rally for the markets and Bitcoin.
Persons: John Kolovos John Kolovos
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailXRP jumps 4% after weekend rally pushes token to three-year high: 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, John Glover, chief investment officer of Ledn, discusses bitcoin's recent price moves and why he says the cryptocurrency could face a pullback in the near term.
Persons: explainers, John Glover, Ledn Organizations: CNBC Crypto, CNBC
Robinhood is slated for more gains under a second Trump term, according to Needham. His $40 price target implies nearly 24% upside from Friday's close. Piper Sandler analyst Patrick Moley has also grown more bullish on the stock amid bitcoin's price surge, upping his price target by $6 to $36. Eight of 17 covering the stock have a buy or strong buy rating on the name, while the remaining ones have hold or underperform ratings. The average price target also points to 17% downside.
Persons: Needham, John Todaro, HOOD, Robinhood, Donald, Piper Sandler, Patrick Moley, Moley, bitcoin Organizations: Trump, Securities and Exchange Commission, LSEG Locations: HOOD
For Brandon Mintz, it was the text messages and calls that started rolling in from friends and colleagues asking how high bitcoin prices could go. Strategic reserve could set off 'bitcoin space race'Under this idea, the U.S. would establish a “strategic bitcoin reserve,” like the ones it already maintains for gold and oil. A day later, Trump echoed the strategic reserve idea, though did not put a specific figure on it. On Nov. 6, Lummis posted on X in all-caps, “WE ARE GOING TO BUILD A STRATEGIC BITCOIN RESERVE,” alongside two American flags. For crypto supporters, a strategic bitcoin reserve would send a signal to markets and countries alike about the digital token’s value.
Persons: Brandon Mintz, Lee Bratcher, Donald Trump’s, Bratcher, , Trump’s, , Mintz, ” Mintz, they’ve, , Ric Edelman, ” Edelman, JP Richardson, Trump, Nicholas Percoco, ” Percoco, , Robert F, Kennedy Jr, Human Services —, Sen, Cynthia Lummis, Lummis, David Bailey, Michael Terpin, , ” Terpin, He’s Organizations: American Blockchain, Republican, Texas Blockchain, NBC News, FBI, Trump, Securities and Exchange Commission, Commodity Futures Trading Commission, Edelman Financial Services, Liberty, Strategic, Bitcoin Conference, Department of Health, Human Services, Social Security, BTC Inc, Bitcoin Locations: Texas, Dallas, Bitcoin, bitcoin, U.S, Nashville
Dollar eyes weekly gain on slower Fed easing, inflation outlook
  + stars: | 2024-11-15 | by ( ) www.cnbc.com   time to read: +4 min
The euro was in turn on track for its worst weekly performance in seven months with a fall of 1.75%. Sterling traded 0.02% lower at $1.2666 and was similarly set to lose 2% for the week, its worst weekly fall since January 2023. Higher trade tariffs and tighter immigration under President-elect Trump's incoming administration are projected to fuel inflation, potentially slowing the Fed's easing cycle longer term. The yen was last 0.2% lower at 156.57 per dollar, on track for a weekly decline of 2.5%. Elsewhere, the Australian dollar eased 0.06% to $0.6450 and was set to lose just over 2% for the week, its worst weekly performance in four months.
Persons: Donald Trump's, Sterling, Jerome Powell, Carol Kong, CBA's, bitcoin, Joshua Chu Organizations: Traders, Commonwealth Bank of Australia, U.S ., Treasury, New Zealand, Hong Kong Web3 Association Locations: U.S, CBA's Kong
Bitcoin is closing in on $100,000 for the first time, but could still double after that, according to BCA Research. That narrative gives Bitcoin its network effect: a positive feedback system in which the asset increases in value as more people use it. "Bitcoin, with a market value of $1.5 trillion, comprises less than 10 percent of the total market for non-confiscatable assets," he said. "As bitcoin's share of this market increases, and the supply of bitcoins reaches its upper limit, bitcoin's price has substantial upside." The price of bitcoin has soared 32% since Election Day in the U.S. last week.
Persons: Dhaval Joshi, Joshi Organizations: BCA Research, U.S, Metrics Locations: bitcoins, U.S
A man whose 2016 hack of Bitfinex drained nearly 120,000 bitcoin from that cryptocurrency exchange was sentenced Thursday to five years in prison for a money laundering scheme that he and his wife pulled off to hide the swiped crypto. The value of that bitcoin at the time of the Bitfinex cyberattack was just $70 million when it was stolen by Ilya Lichtenstein. Lichtenstein, 35, and his wife, Heather Rhiannon Morgan, pleaded guilty to money laundering conspiracy in federal court in Washington, D.C., in August 2023, about 18 months after their arrest. It was at that plea hearing that Lichtenstein first publicly admitted that he had been the hacker of Bitfinex. With credit for good behavior, which is standard in the federal penal system, Lichtenstein could be released from prison in less than two years.
Persons: cyberattack, Ilya Lichtenstein, Lichtenstein, Heather Rhiannon Morgan, Morgan Organizations: Washington , D.C Locations: Washington ,, Washington
In this article BTC.CM= Follow your favorite stocks CREATE FREE ACCOUNTChesnot | Getty ImagesDogecoin shot higher on Tuesday night, extending its postelection surge after President-elect Donald Trump formally announced the creation of the Department of Government Efficiency, which he referred to as "DOGE" in his statement. Tesla CEO Elon Musk and Vivek Ramaswamy, former Republican presidential candidate and Strive Asset Management co-founder, will lead the department, Trump said in a statement. Stock Chart Icon Stock chart icon Dogecoin jumped after President-elect Donald Trump announced the creation of the Department of Government Efficiency, or "DOGE." Memecoins are seen as a gauge of retail interest and risk appetite in crypto. When memecoin activity ramps up, it usually indicates that retail investors are participating and have an appetite to speculate further out on the risk curve.
Persons: Donald Trump, Elon Musk, Vivek Ramaswamy, Trump, Dogecoin Organizations: Getty, Department of Government, Republican, Management, Administration
The price of bitcoin hit an all-time high this weekend, a rally that started shortly after Donald Trump was declared the winner of the 2024 election. From March to November, the price has been mostly confined to a range of $50,000 to $70,000. Trump's election has been heralded by some as a positive sign for the prices of bitcoin and other cryptocurrencies. Investors may also be responding to fears of inflation resurfacing under Trump, after months of price increases settling in at a more subdued pace. Robinhood, the app-based trading platform that allows for crypto trades, was also set to hit an all-time high.
Persons: Donald Trump, That's, bitcoin, Trump, Robert F, Kennedy Jr, Elon Musk, Vivek Ramaswamy, Noelle Acheson, Robinhood Organizations: Securities and Exchange, Trump Locations: U.S, Coinbase
Sign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . What's on deck:Markets: The Wall Streeters advising Trump's transition team on key economic appointments . But regulators launched investigations and filed lawsuits against Big Tech during Trump's first term. News briefTop headlinesAdvertisement3 things in marketsChip Somodevilla/Getty Images; Getty; Rebecca Zisser/BIWho Trump is turning to on Wall Street for advice.
Persons: , Drew Brees, Donald Trump's, Elon, Jenny Chang, Rodriguez, Donald Trump, Elon Musk, Trump, Samantha Stokes, Riddhi Kanetkar, Helen Li, Biden, Lina Khan's, Money, Chip Somodevilla, Meta's Mark Zuckerberg, JD Vance, Khan, Zuckerberg, Amazon's Jeff Bezos, OpenAI's Sam Altman, Somodevilla, Rebecca Zisser, Cantor Fitzgerald, Howard Lutnick, Marc Rowan, Blackstone, Steve Schwarzman, Charles Schwab, Herb Sutter, Ken Griffin's, Sutter, he's, Jordan Strauss, Elon Musk's, Reddit, Lebaredian, Chelsea Jia Feng, Kamala Harris, it's, Dan DeFrancesco, Grace Lett, Hallam Bullock, Ella Hopkins, Amanda Yen, Milan Sehmbi Organizations: Business, Service, Super Bowl, Tech, Trump, Microsoft, Nvidia, Big Tech, Wall, Citadel Securities, White, BI, Google, Veterans, World Meteorological Organization Locations: States, Anthropic, Reddit's, New York City, State, Azerbaijan, New York, Chicago, London
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin sets another record, crypto stocks soar as post-election rally continues: 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, Matt Hougan of Bitwise breaks down bitcoin's continued rally.
Persons: explainers, Matt Hougan, bitcoin's Organizations: CNBC Crypto, CNBC
Open interest in bitcoin's price surpassing $90,000 rose to more than $2.8 billion on the popular Deribit derivatives exchange, one of a few crypto native platforms that offers futures trading. "The options market's bias is heavily toward continued momentum. Call options trade at a premium to puts, and open interest in out-of-the-money calls has grown," Vetle Lunde, head of research at K33 Research, told CNBC. The CME derivates exchange offers bitcoin futures contracts and is a popular way for institutions in the U.S. to make bets on the future price of bitcoin. Velde told CNBC that on Friday CME premiums for ether and bitcoin averaged 14.5% and 14%, respectively.
Persons: Bitcoin, Vetle Lunde, Velde Organizations: K33 Research, CNBC Locations: U.S, Velde
Fintechs Upstart and Toast soar on earnings
  + stars: | 2024-11-08 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +2 min
Chris Comparato, CEO, the Toast, Inc. IPO at the New York Stock Exchange, on September 22, 2021. Toast , which sells payments technology to restaurants, jumped 14%, closing at its highest since 2021. Toast is still well off its pandemic highs of 2021, but the stock has now more than doubled this year. The company's adjusted earnings forecast of $90 million to $100 million for the current quarter sailed past estimates. Coinbase shares jumped 48% for the week, their strongest performance since January 2023.
Persons: Chris Comparato, David Girouard, Donald Trump's, Coinbase, Trump, Gary Gensler, Bitcoin, dogecoin, fintechs, Jack Dorsey's, Robinhood Crypto Organizations: Inc, New York Stock Exchange, Nasdaq, SEC Locations: fintech, solana
Bitcoin is on track to hit the $100,000 price milestone by the end of the year after President-elect Donald Trump's election victory, according to analysts. Bitcoin at $100,000 "doesn't sound so unreasonable" given it equates to "just 10% of gold's market share," Butterfill told CNBC in emailed comments. BTC to hit $100K by Trump's inauguration A $100,000 bitcoin price is likely to be reached by the time Trump is inaugurated president on Jan. 20, 2025, according to Fadi Aboualfa, head of research at crypto custodian Copper.co. Still, with bitcoin exchange-traded funds currently holding roughly 1.1 million bitcoins, momentum is likely to be positive in the coming months, Aboualfa added. It cuts in half the supply of bitcoin issued to miners who successfully produce new bitcoins.
Persons: Donald Trump's, James Butterfill, Butterfill, Trump, Kamala Harris, Gary Gensler, CoinShares, Kooner, Fadi Aboualfa, Aboualfa Organizations: Republicans, CNBC, Wednesday, U.S . Securities, Exchange Commission, SEC, Federal Reserve, BTC, Trump's Locations: America, bitcoin, U.S
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin's post-election rally continues as Fed cuts rates: 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, Paul Grewal of Coinbase reacts to the 2024 election results, which saw hundreds of pro-crypto candidates win races across the United States.
Persons: explainers, Paul Grewal, Coinbase Organizations: CNBC Crypto, CNBC Locations: United States
Cryptocurrencies were slightly higher as investors looked forward to results from the U.S. presidential election. We believe bitcoin, being less than 0.1% of global financial assets, has enough headroom for growth regardless of election outcome." "A constructive crypto friendly SEC would open opportunity for all crypto assets beyond bitcoin," he said. And … if either side pushes towards a crypto friendly SEC. The Trump side has promised a crypto friendly SEC, while the Harris side has promised to defend ownership of crypto assets, although the crypto community would have preferred more specific crypto policy from Harris."
Persons: memecoins dogecoin, Shiba, bitcoin, Mara, Coinbase, Kamala Harris, Donald Trump, Harris, Bernstein, Gautam Chhugani, Chhugani, there's, Trump, Gary Gensler, Sen, Elizabeth Warren Organizations: U.S, Metrics, Solana, Mara Holdings, SEC, Trump, Securities and Exchange Commission Locations: bitcoin
"What's driving price action is undoubtedly the election," Nic Puckrin, CEO and co-founder at crypto education site Coin Bureau, said of the November outlook. BTC.CM= YTD mountain Bitcoin YTD Republican nominee former President Donald Trump has courted the crypto industry this year, presenting himself as the pro-crypto candidate . October and November are historically strong months for bitcoin, finishing higher in seven of the past 11 Novembers. "Volatility has decreased for both gold and bitcoin as traders look forward to the [election] results, although both assets have benefited from positive underlying fundamentals incrementally driving the price up." "The main danger we foresee would be temporary angst around election results affecting sentiment and holding back further development of the ecosystem," Chung added.
Persons: Bitcoin, cryptocurrency, Kamala Harris –, Nic Puckrin, Trump, bitcoin, Donald Trump, Harris, Devin Ryan, there's, Needham's John Todaro, Chris Chung, Chung, Michael Bloom Organizations: Republican, Democratic, Citizens, Trump, bitcoin, JPMorgan, BTC, Solana Locations: Washington, U.S
Coinbase Global's latest earnings were even weaker than expected, but with an eye toward next week's election and its effect on cryptocurrency markets, many analysts on Wall Street say the exchange is still a buy. Coinbase also warned that an October drop in the price of ether could offset growth in nontrading revenue in the current quarter. Coinbase tumbled as much as 8.6% in early trading Thursday, touching a low of $193.56. The election outcome at one point was widely viewed as a key catalyst for the price of bitcoin. On the earnings call, CEO Brian Armstrong said he expects to see "the most pro-crypto Congress ever" next year.
Persons: Coinbase, Joseph Vafi, Genuity, Citigroup's Peter Christiansen, Christiansen, , Brian Armstrong, Piper Sandler, Patrick Moley, — CNBC's Michael Bloom Organizations: Wall, White House, Citi, Canaccord, Bank of America, SEC Locations: U.S, .
This is the first in a five-part series about the impact both Trump and Harris presidencies could have on US consumers. To date, Trump and Harris have outlined specific policy proposals that will impact different parts of the stock market. The guide covers four specific asset classes, and is divided between the Trump and Harris impact on each. Advertisement"Our upbeat projections for the stock market in 2024 and 2025 are predicated on a view that hype over AI will continue to fuel a stock market bubble," the research firm said. And since presidential actions usually impact rates, the bond market will be shaped by what either Trump or Harris end up doing.
Persons: Harris, , Donald Trump, Kamala Harris, Today's, they're, BofA, It's, Financials, Trump's, Trump, Peter Berezin, Joe Biden's, Bonds, Crypto, Bernstein, Gautam Chhugani, bitcoin, Chhugani, Harris Harris, she's, I'm, Larry Fink, Biden, it's Organizations: Trump, Service, Business, Wall, Bank of America, Allies, Foundation, BCA Research, Harris, Democratic, Economics, Capital, Federal, Harris Capital Economics, Federal Reserve, Bloomberg, bitcoin, BlackRock, Capital Economics, Fed Locations: China
The crypto industry has spent tens of millions on pro-crypto candidates this election cycle. Crypto companies, executives, and super PACs have spent huge sums this election cycle, outspending even perennial big spenders like the Koch family, according to Federal Election Commission filings. The crypto industry has outspent every other industry, injecting almost $120 million into federal races as of August, according to OpenSecrets, a nonprofit that tracks campaign spending. AdvertisementTrump, who once called crypto a scam, has more recently fueled hope that he'd be good for crypto entrepreneurs. Richardson said Exodus also donated $1.3 million to Stand With Crypto, an advocacy organization that focuses on voter registration and informing people about political candidates who support crypto.
Persons: Donald Trump, Kamala Harris, , Koch, Faireshake, OpenSecrets, Fairshake, — Sen, Katie Porter, Jamaal Bowman, Cori Bush —, Democratic Sen, Sherrod Brown, Republican Bernie Moreno, Crypto, Moreno, JP Richardson, Trump, there's, Gary Gensler, Gensler, Richardson, Harris, Barry DiRaimondo, DiRaimondo, we're, Exodus Organizations: Service, Democratic, Republican, Industry, Business, Securities and Exchange Commission, Trump, SEC, Crypto, New York Stock Exchange Locations: Ohio, America, Nashville
It's a good time to increase exposure to bitcoin as stocks continue hitting new records and as the U.S. presidential election draws nearer, according to Bernstein. Bitcoin is again testing $70,000, something it's done several times this year after reaching a new record above $73,000 in March. Bitcoin ETF inflows, crypto equity markets and retail trading sentiment [are] screaming 'risk-on.'" Earlier attempts led to brief forays above $70,000, but over the weekend bitcoin rose as high as $69,480, according to Coin Metrics. Their outperformance "reflects underlying bullish sentiment for the bitcoin asset class vs. the compute/energy thesis, which investors have favored so far."
Persons: Bernstein, Bitcoin, Gautam Chhugani, Harris, Trump, bitcoin, Chhugani, Mara, — CNBC's Michael Bloom Organizations: U.S, bitcoin, Metrics, Mara Holdings Locations: U.S
Bitcoin that's lost either when an investor dies or is simply locked out of their wallet reduces available supply. Estate planning is crucial for bitcoin investors who store the coin on a cold wallet, experts say. Satoshi Nakamoto being deceased would potentially soothe a big fear that's loomed over the bitcoin market for years, which is that the person could sell their estimated 1 million bitcoin. If no one has your private key, the funds will be locked permanently," Wealthica CEO Eric Lemieux told Business Insider. Otherwise, more lost bitcoin could mean even higher prices for the crypto.
Persons: Bitcoin that's, , Donald Trump, Satoshi Nakamoto, Len Sassaman, Satoshi, Sean Farrell, Farrell, That's, bitcoin, Eric Lemieux, Lemieux Organizations: Service, HBO, Yorker Locations: American, Wales
FBI agents on Thursday arrested an Alabama man for his alleged role in the Jan. 9 hack of the Securities and Exchange Commission's X account, which sent the price of bitcoin spiking by more than $1,000, the Department of Justice announced. The tweet said, "Today the SEC grants approval for #Bitcoin ETFs for listing on all registered national securities exchanges." Shortly afterward, the SEC regained control of its social media account, and announced the tweet was false and the result of a hack. A day after the hack, the SEC approved rule changes that allowed the creation of bitcoin ETFs in the United States. Council, who used the online handles "Ronin," "Easymunny," and "AGiantSchnauzer," allegedly was paid in bitcoin by co-conspirators for his role in the hack.
Persons: Eric Council Jr, Gary Gensler Organizations: Securities, Exchange, Department of Justice, Northern, Northern District of, Prosecutors, SEC, BTC, DOJ, Council, FBI Locations: Alabama, Northern District, Northern District of Alabama, United States
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