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☆ Big changes could be coming to the way we pay for things
▼ + stars: | 2024-03-27 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +7 min

In today's big story, we're examining how a change in credit cards' behind-the-scenes fees impacts you… and your points . Under the settlement, merchants could charge customers more for using different cards despite being part of the same Visa or Mastercard network. AdvertisementTim Boyle/Getty Images; Jenny Chang-Rodriguez/BIThe agreement could ultimately reshape how consumers pay for things. AdvertisementPerhaps that's why one analyst told Business Insider's Alex Bitter he doesn't expect major retailers to pass swipe fees along to customers. But maybe, not unlike the fees the agreement targets, what seems small could eventually add up to something big.

Persons: —, Jenny Chang, Rodriguez, Insider's Grace Eliza Goodwin, Tim Boyle, David Morris, Alex Bitter, LUDOVIC MARIN, BlackRock's Larry Fink, Jeremy Grantham, Ian Shepherdson, That'll, We've, Meta, Mark Zuckerberg, Facebook execs, Francis Key Scott, Hunter Biden, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Nickelodeon, Business, Mastercard, Visa, Getty, Fed, Amazon, BI Locations: Europe, LUDOVIC, Baltimore, Port, New York, London

☆ What's behind Danaher's decline, plus high hopes for Apple's developers event
▼ + stars: | 2024-03-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Mark your calendars: Apple said it will host its annual Worldwide Developers Conference from June 10 to June 14. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, It's, Jensen, Danaher, Ingersoll Rand, Jim, Larry Fink, Eli Lilly, Fink, Jim Cramer's, Tim Cook, Josh Edelson Organizations: CNBC, Developers, Apple, Nvidia, Vision, ILC Dover, KeyBanc, Dover, Microsoft, Costco, BlackRock, Corp, Cintas, Jefferies, Jim Cramer's Charitable, Apple's Worldwide, AFP, Getty Locations: Cupertino , California

☆ BlackRock's Larry Fink sees Social Security crisis, says 65 retirement age 'a bit crazy'
▼ + stars: | 2024-03-26 | by ( Alex Harring | ) www.cnbc.com time to read: +3 min

He said access to investing can help solve this conundrum, while also pondering if the expectation for everyone to receive Social Security benefits at age 65 has become archaic. Worsening the outlook is a Social Security system that's said it will not be able to pay full benefits by 2034. The 71-year-old believes the American retirement system has entered such a deep crisis that it has become a once-in-a-generation issue. That's because this both can benefit individuals and help ensure the long-term health of Social Security. Increasing lifespans create further difficulties when trying to improve the retirement system, Fink said.

Persons: Larry Fink, Fink, that's, it's, — Organizations: BlackRock, Social, Census Bureau, Security, Social Security Locations: America, Ottoman Empire

☆ BlackRock CEO Larry Fink: Younger generations don't know who to listen to about retirement
▼ + stars: | 2024-03-26 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBlackRock CEO Larry Fink: Younger generations don't know who to listen to about retirementCNBC's Jim Cramer speaks with BlackRock CEO Larry Fink about America's retirement crisis and how younger generations can get ahead in their financial lives.

Persons: Larry Fink, Jim Cramer Organizations: BlackRock

BlackRock’s chief wants to rethink a fiscal time bombAs the chairman and C.E.O. In his latest letter to investors, published on Tuesday, Fink weighs in on a new topic: a looming global retirement crisis, and what can be done to address it. The way retirement is handled around the world needs to change, Fink writes. In the U.S. in particular, people are living longer, a trend that’s likely to grow given the advent of weight loss drugs like Wegovy, Fink writes. But he adds that four in 10 Americans don’t have $400 in emergency savings, let alone proper retirement funds.

Persons: Larry Fink, Fink Organizations: BlackRock

☆ BlackRock's Larry Fink says young people have a lot going for them, but retirement crisis looms
▼ + stars: | 2024-03-26 | by ( Julie Coleman | ) www.cnbc.com time to read: +1 min

In an interview with CNBC's Jim Cramer, BlackRock CEO Larry Fink expressed optimism about the next generation despite a looming retirement crisis. "I am bullish on these young people," Fink said. But Fink stressed the seriousness of the retirement crisis, echoing sentiments he wrote about in his annual letter to BlackRock shareholders. "No other force can lift more people from poverty or improve quality of life quite like capitalism," Fink wrote in his letter. Fink said investing is an essential part of helping people save enough money to live well when they stop working.

Persons: CNBC's Jim Cramer, Larry Fink, " Fink, Fink Organizations: BlackRock Locations: U.S

☆ 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

☆ Larry Fink is concerned about the youth. Here are 5 key takeaways from the BlackRock CEO's letter to investors.
▼ + stars: | 2024-03-26 | by ( Michelle Abrego | ) www.businessinsider.com time to read: +8 min

Fink, the chief executive of BlackRock, used his annual investor letter to warn of a looming "retirement crisis" facing the US and raise his concerns about disillusioned young people. This triggered criticisms on both sides of the aisle and became a major headache for Fink and the firm. He has avoided using the term ESG and repeatedly emphasized that BlackRock works with energy firms. Fink, who is 71 and has kept Wall Street guessing on his own retirement, also got personal with this letter. Fink is focused on "Energy pragmatism"The biggest opportunity in infrastructure, according to Fink, is around energy.

Persons: Larry Fink, Fink, . Fink, I've, Australia Fink Organizations: BlackRock, Business, DuPont, Cal Northridge, University of Michigan, Gen, Global Infrastructure Partners, Texas Permanent School Fund Locations: Calpers, Ottoman Empire, Australia, BlackRock, decarbonization

☆ 3 things America can do to solve its retirement crisis, according to BlackRock chief Larry Fink
▼ + stars: | 2024-03-26 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +5 min

Read previewAmerica has a real retirement crisis on its hands — and there are three things it can do to help solve it, according to BlackRock chief Larry Fink. In his annual letter to investors, the CEO of the world's biggest asset manager pointed to an unfolding crisis for current and future retirees. 46% of Americans aged 55-65 don't have any cash invested in a personal retirement account, according to 2022 Census data. Help retirees spend their savingsMost retirees are uncomfortable dipping into their pile of savings. Give young people a reason to want to investFear is one of the main obstacles preventing young people from investing in their retirement, Fink said.

Persons: —, Larry Fink, Fink, " Fink, AARP —, BlackRock, I've, Gen Zers Organizations: Service, BlackRock, Center for Retirement Research, Business, Security, Congressional, Office, Insurance Trust Fund, Social Security, AARP, University of Michigan, America, McKinsey & Company Locations: America, Australia, BlackRock

☆ Viking jumped 25% on early weight loss pill data. We still prefer Eli Lilly
▼ + stars: | 2024-03-26 | by ( Jeff Marks | ) www.cnbc.com time to read: +2 min

Every weekday the CNBC Investing Club with Jim Cramer holds a "Morning Meeting" livestream at 10:20 a.m. Finally, Viking Therapeutics soared more than 25% after reporting encouraging Phase 1 results of its oral weight loss pill. The data showed up to 5.3% weight loss at 28 days. Its Phase 2 results up to 14.7% mean weight loss at 36 weeks. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER .

Persons: Jim Cramer, Larry Fink, It's, Wedbush, Jim, Eli Lilly, Jim Cramer's Organizations: CNBC, BlackRock, Census Bureau, Social Security, Microsoft, Justice Department, Viking Therapeutics

☆ Blackrock CEO Larry Fink on the power of AI
▼ + stars: | 2024-03-26 | by ( Jim Cramer | ) 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 EmailBlackrock CEO Larry Fink on the power of AI"MadRMoney" host Jim Cramer interviews BlackRock CEO Larry Fink on the power and potential of AI tools.

Persons: Larry Fink, Jim Cramer

☆ BlackRock CEO Larry Fink sits down one-on-one with Jim Cramer
▼ + stars: | 2024-03-26 | by ( Jim Cramer | ) www.cnbc.com time to read: 1 min

BlackRock CEO Larry Fink sits down one-on-one with Jim CramerBlackRock CEO Larry Fink sits down with 'Mad Money' host Jim Cramer to talk about getting younger generations prepared for retirement, the annual shareholder letter and inflation.

Persons: Larry Fink, Jim Cramer BlackRock, Jim Cramer Organizations: BlackRock

☆ 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

☆ '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

☆ Neuralink shares video of patient playing chess using signals from brain implant
▼ + stars: | 2024-03-20 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +5 min

Elon Musk's startup Neuralink streamed a live video on Wednesday that showed a patient using the company's brain implant to move a mouse and play chess on a computer. A BCI is a system that deciphers brain signals and translates them into commands for external technologies. Dr. Nader Pouratian, chair of the Department of Neurological Surgery at UT Southwestern Medical Center, said researchers have been developing and studying BCI technology for years. It is not clear how many patients are participating in Neuralink's trial, or what the trial is trying to demonstrate. There is reason to be hopeful about Neuralink's technology, said Dr. Marco Baptista, chief scientific officer of the Christopher & Dana Reeve Foundation, which provides resources to people who have become paralyzed.

Persons: Elon, Noland Arbaugh, Musk, Arbaugh, there's, Neuralink, Nader Pouratian, we've, Pouratian, Marco Baptista, Christopher, Dana Reeve, " Baptista Organizations: BCI, Blackrock, Neuroscience, SpaceX, Department of Neurological, UT Southwestern Medical Center, CNBC, U.S . Food, Drug Administration, Dana Reeve Foundation, PubMed Locations: Brussels, Belgium, Synchron, U.S, Neuralink

☆ Grayscale CEO says fees on its bitcoin ETF will drop over time after outflows hit $12 billion
▼ + stars: | 2024-03-19 | by ( Ryan Browne | ) www.cnbc.com time to read: +5 min

Grayscale CEO Michael Sonnenshein said that the crypto fund manager expects to bring fees on its Grayscale Bitcoin Trust ETF down in the coming months, as the nascent crypto ETF market matures. The FTX bankruptcy estate reportedly offloaded the majority of its shares in Grayscale's bitcoin ETF, according to January reporting from Bloomberg and CoinDesk. Grayscale also wants to introduce other ways of giving investors less costly ways of accessing its bitcoin ETF, including a "mini" version of its flagship product — the Grayscale Bitcoin Mini Trust, announced last week. The new BTC ETF would be effectively spun out of the Grayscale Bitcoin Trust ETF and seeded with an as-yet undisclosed portion of bitcoin underlying GBTC shares. The firm is currently awaiting approval from the U.S. Securities and Exchange Commission for its Bitcoin Mini Trust ETF.

Persons: Michael Sonnenshein, Sonnenshein, GBTC, FTX Organizations: NYSE, LONDON, CNBC, Bloomberg, BlackRock, Fidelity, Vanguard, Trust, BTC, U.S . Securities, Exchange Commission, SEC Locations: Grayscale's bitcoin, solana

☆ Wall Street is betting big on a soft landing for the economy
▼ + stars: | 2024-03-18 | by ( Theron Mohamed | ) www.businessinsider.com time to read: +5 min

Read previewRisk is back in fashion on Wall Street as investors shed their fears and become more adventurous with their cash. Wall Street is betting big on a soft landing, where the Fed succeeds in bringing inflation down without unemployment surging or a recession taking hold. Related storiesSimilarly, Goldman Sachs analysts said in a recent outlook that "risk appetite is poised to grow" this year as recession relief and rate cuts embolden investors. When the music stopsThe outlook for stocks and the economy might seem brighter, but it's worth being at least a little skeptical of the current enthusiasm. "Nobody seems to care about valuations, and now you have Wall Street strategists laying claim that we are in a brand new era," veteran economist David Rosenberg said in a recent note.

Persons: —, BII, Goldman Sachs, David Rosenberg, Jeremy Grantham, there's, Ed Yardeni Organizations: Service, Federal, Business, Investors, BlackRock Investment Institute, Nvidia, Grantham, Swissquote Bank Locations: BlackRock

☆ This is the easiest way for newbies to start investing, financial experts say
▼ + stars: | 2024-03-18 | by ( Greg Iacurci | ) www.cnbc.com time to read: +5 min

For many people, investing is a necessity to grow one's savings and provide financial security in retirement. A 'fabulous, simple solution' for beginnersTarget-date funds, known as TDFs, are the simplest entry point to investing for the long term, according to financial pros. TDFs are based on age: Investors choose a fund based on the year in which they aim to retire. Other 'solid choices' for novice investorsInvestors who want to be a bit more hands-on relative to TDF investors have other simple options, experts said. Investing is not a game where the guy with the 160 IQ beats the guy with 130 IQ.

Persons: Warren Buffett, Berkshire Hathaway, Christine Benz, Lee Baker, Baker, Carolyn McClanahan, Benz, Charles Schwab, Rowe Price, it's, McClanahan Organizations: Getty, Berkshire, Fidelity Investments, Morningstar, Apex Financial Services, Investors, Benz, Planning Partners, Fidelity, Vanguard Group, BlackRock, Finance, Young Locations: Atlanta, Jacksonville , Florida, U.S

☆ Emails show how a right-wing group steers GOP leaders on major policy issues
▼ + stars: | 2024-03-17 | by ( Bob Ortega | Daniel Medina | ) edition.cnn.com time to read: +18 min

Missouri Secretary of State Jay Ashcroft speaks with reporters on Jan. 23 in Jefferson City, Missouri. In Wyoming, a GOP state senator forwarded an FGA draft bill to Secretary of State Chuck Gray that would prohibit sending out unsolicited absentee ballot request forms. Emails show the group strategized with the secretary of state’s office for weeks leading up to Ashcroft proposing his own such rule last January. FGA notches wins with weakened child labor lawsFGA’s lobbying group, The Opportunity Solutions Project, spearheads its efforts at the state level. Chip Somodevilla/Getty ImagesFGA also continues its push at the state level across the country to enact its policy priorities.

Persons: State Jay Ashcroft, “, Ashcroft, Kacen Bayless, FGA, –, Chuck Gray, ” Gray, Gray, ”, Joe Biden’s, Jay, Daniel Garrett, Garrett, “ It’s, Missouri’s, Scott Fitzpatrick, BlackRock, ” Fitzpatrick, Mark Felix, Fitzpatrick, ALEC, Andy Puzder, Carls Jr, ” Puzder, Kristina Shelton, Puzder, ” Kristina Shelton, they’ve, Tarren Bragdon, Rebecca Burkes, It’s, Tyson, ’, Bragdon, Sarah Bryner, Florida Governor Ron DeSantis, Paul Renner, Donald Trump, Chip Somodevilla, Shelton, ” Shelton Organizations: CNN, State, Republican, Foundation, Government, Missouri, Kansas City Star, Tribune, Service, GOP, Ashcroft, Conservative, Missouri Chamber of Commerce, National, University of Pennsylvania, Brookings Institution, Exxon, BlackRock, ” BlackRock, Energy, ExxonMobil, Washington Post, American Legislative Exchange Council, Heritage Foundation, Heritage, Boston, Wisconsin Democratic, FGA, Solutions, Tyson Foods Inc, George’s Inc, US Department of Labor, Solutions Project, Daily, The Heritage Foundation, Alliance, Trump, Florida Governor, Bragdon, Florida House, House, FBI, Justice Department, Department of Education, Center, Pleaides Locations: Missouri, Texas, Jefferson City , Missouri, Wyoming, Kansas , Indiana, BlackRock, Florida, ExxonMobil Baytown, Baytown , Texas, Washington, ” Wisconsin, Wisconsin, Arkansas, Iowa, Park City , Utah, DeSantis, Rome , Georgia

☆ 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

☆ The CEO of Palantir says he expects to keep losing employees over the company's support for Israel
▼ + stars: | 2024-03-14 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

The CEO of Palantir said the company has lost employees due to its support of Israel. AdvertisementPalantir CEO Alexander Karp said the company has lost employees due to its public support for Israel. "We've lost employees. I'm sure we'll lose employees," Karp said in an interview with CNBC's " Money Movers " on Wednesday. From my perspective it's not just about Israel," Karp told CNBC on Wednesday.

Persons: Palantir, —, Alexander Karp, We've, Karp, CNBC's, it's, Google Israel, Axel Springer's, Axel Springer Organizations: Service, Israel, Israeli Ministry of Defense, CNBC, Hamas, Apple, Google, Microsoft, BlackRock, Wired, Business Insider, Palantir, Insider Inc, Business Locations: Israel, Tel Aviv, Ukraine, Gaza

☆ Nongfu Spring: Bottled water empire of China’s richest man Zhong Shanshan is facing a boycott by nationalists
▼ + stars: | 2024-03-13 | by ( Laura He | ) edition.cnn.com time to read: +7 min

Zhong and his drinks firm Nongfu Spring, the country’s biggest maker of bottled water, are the latest targets of an army of internet zealots. WeiboThe nationalists have also highlighted the fact that prominent US investment funds, including Vanguard and BlackRock, are major shareholders of Nongfu Spring. “Taking advantage of Mr Zong’s death, a lot of slander against me and Nongfu Spring appeared on the internet. “Whether Wahaha or Nongfu Spring, we always insist on the same thing — producing good products for the people,” he said. Nongfu Spring is just the latest major target of China’s nationalists.

Persons: Hong Kong CNN — Zhong Shanshan, Zhong, Zong Qinghou, Zong, Zhong’s, —, “ Zhong Shuzi, ”, “, He’s, Mr Zong’s, ” Zhong, influencers, netizens, “ Zong, Wei Jiang, Mo Yan, Mao Zedong, Stringer, Li Ning Organizations: Hong Kong CNN, Wahaha, Danone, Weibo, ”, Vanguard, BlackRock, Nongfu, American, Wahaha’s, CNN, Zhejiang Daily, Communist Party, Auto, Zhejiang University of Finance, Economics, People’s Liberation Army, AFP, Getty, Nike, Adidas, United, Toyota, Honda Locations: China, Hong Kong, Beijing, American, Weibo, Nongfu, Zhejiang, Hami, China's, Xinjiang, AFP, United States, Japan

☆ These tax-free bonds could see stellar returns once the Fed starts cutting rates
▼ + stars: | 2024-03-07 | by ( Darla Mercado | Cfp | ) www.cnbc.com time to read: +4 min

Such a move would bode well for fixed income, including municipal bonds. Recent data from Columbia Threadneedle Investments and Bloomberg, shows that muni bonds can see a jump in cumulative tax-equivalent returns once the Fed begins cutting rates. When taking into account the tax savings, muni bond investors don't have to take that much risk to capture attractive yields. Rising flows and higher yields Investors have been pouring money into muni bond funds lately. BlackRock's iShares National Muni Bond ETF (MUB) , meanwhile, has seen an exodus of more than $1 billion in flows this year, but it experienced inflows of $150.9 million in the past week.

Persons: Jerome Powell, bode, munis, Catherine Stienstra, BlackRock's, Duane McAllister, Baird Organizations: Federal Reserve, Columbia Threadneedle Investments, Bloomberg, York Life Investments, Columbia, Bond, Muni Bond ETF, Baird Asset Management, AAA, BBB Locations: Columbia

☆ 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.

Persons: Bitcoin's, bitcoin, David Yermack, University's, who've, BlackRock's, Eric Balchunas, James Butterfill, it's, Butterfill, shiba inu, Nic Carter, Carter, Bitcoin, Yermack, Emily Stewart Organizations: bitcoin, University's Stern School of Business, Securities, Exchange, SEC, Wall, Fidelity, University's Stern School of, Bloomberg Intelligence, Federal Reserve, New York Community Bancorp, Castle, Ventures, Business Locations: New, bitcoin, BlackRock, David Yermack , New

☆ Bitcoin rockets to an all-time high above $69,000, surpassing 2021 record
▼ + stars: | 2024-03-05 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

"Bitcoin reclaiming its all-time high yet again shows it is never going away," said Alex Thorn, head of research at Galaxy Digital. Catalysts driving the surge in the cryptocurrency include the U.S. spot bitcoin ETFs that started trading earlier this year, along with the tightening bitcoin supply ahead of the late April "halving." "The odds have always been against bitcoin," Thorn said, citing naysayers who have referred to it as "a bubble" and compared it to the "tulip mania" in Holland during the 1600s. "Retail interest is oftentimes momentum driven, and all-time high levels are a pivotal momentum driver for even more investment," he told CNBC. Nevertheless, U.S. spot bitcoin ETFs have brought legitimacy to it and been hugely popular, with BlackRock's iShares Bitcoin Trust (IBIT) passing $10 billion in assets under management last week.

Persons: Jaap Arriens, FTX, crypto's Lehman, Alex Thorn, bitcoin, Clara Medalie, Thorn, naysayers, Needham, John Todaro, Crypto, BlackRock's Organizations: NurPhoto, Getty, Metrics, Galaxy, CNBC, Securities and Exchange Commission Locations: U.S, Holland

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