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☆ MicroStrategy sets 10-for-1 stock split four months after bitcoin peak
▼ + stars: | 2024-07-11 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

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

☆ Ethereum ETF countdown: Bitwise CIO sees 'birth of a new asset class'
▼ + stars: | 2024-07-10 | by ( Ellie Stevens | ) www.cnbc.com time to read: +1 min

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

☆ The only catalyst we need for bitcoin is time, says Anthony Pompliano
▼ + stars: | 2024-07-10 | 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 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

☆ Bitcoin is holding support and ready to make another run at a record, according to the charts
▼ + stars: | 2024-07-09 | by ( Todd Gordon | ) www.cnbc.com time to read: +4 min

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

☆ 3 reasons why bitcoin could soar to $100,000 this year, according to Anthony Scaramucci
▼ + stars: | 2024-07-09 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +4 min

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

☆ Still some downside to bitcoin within a long-term uptrend, says Fairlead Strategies' Katie Stockton
▼ + stars: | 2024-07-08 | 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 EmailStill some downside to bitcoin within a long-term uptrend, says Fairlead Strategies' Katie StocktonKatie Stockton, Fairlead Strategies founder and managing partner, joins 'Squawk Box' to discuss bitcoin's recently volatility, latest market trends, and more.

Persons: Katie Stockton Katie Stockton

☆ The German government owns around $2 billion in bitcoin — and it's freaking out crypto investors
▼ + stars: | 2024-07-08 | by ( Ryan Browne | ) www.cnbc.com time to read: +4 min

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

☆ Breadth and diversification will help cushion the blow for crypto's volatility, says Andy Baehr
▼ + stars: | 2024-07-08 | 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 EmailBreadth and diversification will help cushion the blow for crypto's volatility, says Andy BaehrAndy Baehr, CoinDesk Indices head of product, joins 'Squawk Box' to discuss bitcoin's recent downturn, state of crypto, and more.

Persons: Andy Baehr Andy Baehr

☆ Over $170 billion wiped off cryptocurrencies as market tanks on Mt. Gox bitcoin payout fears
▼ + stars: | 2024-07-05 | by ( Ryan Browne | ) www.cnbc.com time to read: 1 min

Cryptocurrencies plunged on Friday as investors focused on the payout of nearly $9 billion to users of collapsed bitcoin exchange Mt. As of 9:20 a.m. London, time, bitcoin's price slumped more than 6% in 24 hours to hit $54,237.18, its lowest level since late February, according to data from CoinGecko. Rival token ether sank around 10% to $2,869.36. Altogether, the entire cryptocurrency market has shed more than $170 billion in combined market capitalization in the last 24 hours, according to CoinGecko data. This breaking news story is being updated.

Persons: Cryptocurrencies Organizations: CoinGecko Locations: Gox, London

☆ Bitcoin slides under $55,000 as Mt. Gox payouts begin
▼ + stars: | 2024-07-05 | by ( Tanaya Macheel | ) 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 slides under $55,000 as Mt. Gox payouts beginCNBC's Tanaya Macheel joins 'Halftime Report' to break down bitcoin's Friday tumble and what it means for bitcoin's near-term price action and supply dynamics.

Persons: Macheel

☆ Bitcoin plummets as $9 billion Mt. Gox payout begins and government selling adds pressure
▼ + stars: | 2024-07-05 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Gox bitcoin recipients and government wallets. Gox still holds about 140,000 bitcoin and has started to repay creditors and former customers. The sharp decline has been accompanied by a wave of selling by notable bitcoin holders, including the defunct Mt. Fairlead Strategies highlighted $60,000 as a key support level that has since been broken. The decisive breakdown puts bitcoin's next support level target at around $51,500.

Persons: Bitcoin, Gox, —, Blockworks Organizations: Service, Bitcoin, Arkham Intelligence Locations: Mt, Gox, bitcoin, Germany

☆ Bitcoin's slide under $58,000 could mark a bigger correction to come, analyst says
▼ + stars: | 2024-07-04 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

The decline puts bitcoin below its 200-day moving average, which could signal a downturn, FXPro's Alex Kuptsikevich said. Investors are unloading the token as fear mounts of selling pressure from Mt. The fallout extends a three-day drop, as worries mount over impending selling pressure in the market. The decline has now pulled bitcoin below its 200-day moving average, FXPro senior market analyst Alex Kuptsikevich pointed out. But that's adding to fears over selling pressure, as clients may choose to cash their tokens for big gains.

Persons: Bitcoin, Alex Kuptsikevich, —, bitcoin, Kuptsikevich, Fundstrat's Tom Lee, Michael Novogratz Organizations: Investors, Service, Galaxy Locations: Mt, Gox, bitcoin, solana

☆ Bitcoin slides to two-month low as Fed signals it's not ready to cut rates yet
▼ + stars: | 2024-07-04 | by ( Ryan Browne | ) www.cnbc.com time to read: +2 min

A worsening macroeconomic climate and the collapse of industry giants such as FTX and Terra have weighed on bitcoin's price this year. STR | Nurphoto via Getty ImagesBitcoin's price slumped to around $57,000 apiece Thursday, hitting a two-month low after the U.S. Federal Reserve released minutes from its June meeting indicating the central bank isn't yet ready to cut interest rates. Since then, bitcoin has pared losses somewhat and was trading at $57,932.57, down 3.4% as of 5:05 p.m. London time. Higher interest rates are typically less favorable for bitcoin and other cryptocurrencies as it dampens investor risk appetite. ETFs allow investors to buy a product that tracks the price of bitcoin without owning the underlying cryptocurrency.

Persons: bitcoin, Bitcoin, Crypto, CCData Organizations: Getty, U.S . Federal Reserve, Federal Reserve, Securities and Exchange Commission Locations: London, U.S, Gox

☆ CNBC Daily Open: 'Roaring Kitty' gets chewed up
▼ + stars: | 2024-07-02 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor of the New York Stock exchange during morning trading on Nov. 10, 2023 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. AI momentumWall Street kicked off the second half of the year with modest gains, propelled by continued strength in megacap stocks. Boeing, Spirit upShares of Boeing and Spirit AeroSystems rose 2.58% and 3.35% respectively after Boeing agreed to buy back fuselage maker Spirit in a $4.7 billion all-stock deal.

Persons: Keith Gill, Gill, Paris . Hurricane Beryl Cruise, Tom Lee, Lee Organizations: New York Stock, CNBC, Dow Jones, Nasdaq, Microsoft's, Paramount, Warner Bros ., Netflix, Securities and Exchange Commission, Wall, Boeing, Airbus, Paris . Hurricane, Norwegian Cruise, Royal Locations: New York City, U.S, Chewy, Belfast , Wichita, North Carolina, Paris ., Grenada, Norwegian, Royal Caribbean, Mt

☆ CNBC Daily Open: U.S. seeks Boeing guilty plea
▼ + stars: | 2024-07-01 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. On Friday, the S&P 500 and Nasdaq hit record highs before pulling back. Boeing 'guilty plea'U.S. prosecutors plan to seek a guilty plea from Boeing over a charge related to two fatal 737 Max crashes in 2018 and 2019, attorneys for the victims' family members said. [PRO] Rally will broadenThe tech sector has driven market performance in 2024, with the S&P 500 tech group up 28% and Nvidia soaring 149%, while small-caps have lagged.

Persons: Max, John Donahoe, Morgan Stanley, Stifel, Gregory Greene, Mary Daly, CNBC's Andrew Ross Sorkin, John Stoltzfus, Lisa Kailai Han Organizations: Dow Jones, Nasdaq, CNBC, Hezbollah, Boeing, U.S, The Justice, DOJ, Nike, Federal Reserve, San Francisco Fed, Nvidia Locations: Israel, Iran, Gox, Japanese

In a few days, bankrupt Tokyo-based bitcoin exchange Mt. Disbursements will be in a mix of bitcoin and bitcoin cash, an early offshoot of the original cryptocurrency. Gox — short for "Magic: The Gathering Online Exchange" — was once the largest spot bitcoin exchange globally, claiming to handle around 80% of all global dollar trades for bitcoin. Gox users would likely translate to huge sales in bitcoin as investors look to lock in gains. Vijay Ayyar, head of consumer growth for Asia-Pacific at crypto exchange Gemini, said that the overall impact of the Mt.

Persons: Omer Taha Cetin, that's, Disbursements, bitcoin, Gox, —, John Glover, Glover, James Butterfill, bitcoin's, Gemini, Lennix Lai, Butterfill, Bitcoin, Jacob Joseph, Joseph, Alex Thorn, Thorn, Vijay Ayyar, Gox disbursement, Ayyar Organizations: Anadolu, Getty, CNBC, bitcoin, Barclays, CoinShares, Gemini, JPMorgan, Arkham Intelligence, Analysts, U.S . Securities, Exchange, Federal Reserve Locations: Tokyo, Gox, Mt, bitcoin, Asia, Pacific

☆ Tom Lee stands by $150,000 bitcoin forecast, says 10-year Mt. Gox overhang should disappear in second half
▼ + stars: | 2024-07-01 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Fundstrat's Tom Lee is standing by his $150,000 forecast for bitcoin despite recent weakness in the cryptocurrency. Bitcoin has been stuck in a tight trading range between $60,000 and $70,000 since it touched an all-time high of about $73,000 in March. Gox starting distributions in July – that was a huge overhang for many years," Lee told CNBC's " Squawk Box " Monday morning. BTC.CM= 1M mountain Bitcoin's recent weakness On June 24, the trustee of the now defunct Mt. Additionally, the U.S. and German governments sent large amounts of previously seized bitcoin to exchanges at the end of June, further driving the coin's recent weakness.

Persons: Fundstrat's Tom Lee, Bitcoin, Bitcoin's, Lee, CNBC's, I'd, bitcoin Locations: Mt, U.S

☆ Bitcoin is about to clear a big overhang, and the crypto will recover from its slump to reach $150,000 by year-end, Fundstrat's Tom Lee says
▼ + stars: | 2024-07-01 | by ( Jennifer Sor | ) www.businessinsider.com time to read: +3 min

Bitcoin holders will see a huge appreciation in the coin by the end of the year. The crypto is on track to hit $150,000 as it clears an overhang created by Mount Gox repayments, Tom Lee said. Bitcoin has had a strong year so far, hitting a fresh record high before edging lower in recent weeks. AdvertisementBut the impact of repayments will fade, Lee suggested, forecasting another big rally to boost bitcoin through the rest of this year. "Bitcoin's probably suffering from the Mount Gox starting distributions in July.

Persons: Tom Lee, Bitcoin, —, Lee, Gox, Bitcoin's, bitcoin Organizations: Service, bitcoin, Mount, CNBC

☆ Bitcoin blues could extend into July but outlook for the second half is upbeat
▼ + stars: | 2024-06-29 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +5 min

Bitcoin's blues could linger throughout July, but investors are still optimistic about the cryptocurrency in the second half of the year. July is usually a strong month for bitcoin, which has finished higher for the month in seven of the last 11 years, according to CoinGlass. "There are always other known potential sources of bitcoin supply from government for example, but it's always uncertain when that's coming to market. This week, the crypto market was startled when the U.S. and German governments sent large amounts of previously seized bitcoin to exchanges, according to CryptoQuant. Marion Laboure, senior strategist at Deutsche Bank Research, said growing demand for crypto ETFs will help keep bitcoin's price "elevated" in the months ahead.

Persons: bitcoin, Zach Pandl, it's, JPMorgan's Nikolaos Panigirtzoglou, Pandl, Trump, Marion Laboure, 21Shares, Michael Bloom Organizations: Metrics, Federal, U.S ., Deutsche Bank Research, Solana Locations: U.S, Mt

Users of collapsed bitcoin exchange Mt. At the height of its success, the platform was the largest spot bitcoin exchange in the world, claiming to handle around 80% of all global dollar trades for bitcoin. Gox creditors creates "downside risk" next month, though it would be short-lived. Gox creditors take place in July, [this] creates a trajectory where crypto prices come under further pressure in July, but start rebounding from August onwards," the analysts wrote. Gox creditors opted for in-kind reimbursement has to do with the tax implications.

Persons: Kiyoshi Ota, Gregory Greene, Greene, Bitcoin, Greene's, John Glover, Ledn, Glover, Gox, Alex Thorn, They'll, Roger Ver, Blockstream, Adam Back, Greg Maxwell, Bruce Fenton, Thorn, there's, There's, Luke Nolan, CoinShares, JPMorgan Organizations: Bloomberg, Getty, Mt, CNBC, bitcoin, Online, Galaxy Digital, Bitcoin, Barclays, JPMorgan Chase, Gox Locations: Gox, Illinois, bitcoin, Mt

☆ Here's what's next for bitcoin after the cryptocurrency returned to $60,000 this week
▼ + stars: | 2024-06-26 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Bitcoin is testing a key level once again after the cryptocurrency fell below $60,000 this week for the first time since May 3. "There's key support at $57,500, the 200-day average, down to $56,500, the May low — and a downside breach would be damaging." It is currently suffering from a lack of near-term catalysts, low demand for bitcoin exchange-traded funds and miners' selling of bitcoin. BTC.CM= 6M mountain Bitcoin this year If bitcoin fails to hold $57,000, Wald added, $49,000 would become its next key downside level. Until then, "I always side with trend, meaning I'd assume the rising 200-day average holds.

Persons: Oppenheimer, Ari Wald, Bitcoin, bitcoin, Wald, David Keller, bitcoin's, Keller, Tom Fitzpatrick, R.J, O'Brien Organizations: Metrics, NASDAQ

☆ CNBC Daily Open: Dow jumps as investors rotate out of tech; Nvidia sinks
▼ + stars: | 2024-06-25 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Dow up, Nvidia sinksThe Dow Jones Industrial Average rose 260 points as investors rotated out of technology and into banking and energy stocks, such as Goldman Sachs and Chevron. He expressed concerns about potential criticism from former President Donald Trump if rate cuts occur before the election. "I suspect the market is probably more right than wrong when it says the rate cuts are likely to come after the election," he said. James Butterfill, head of research at CoinShares, attributes the sell-off to concerns over the number of rate cuts.

Persons: Dow, Goldman Sachs, David Rubenstein, Rubenstein, CNBC's Andrew Ross Sorkin, Donald Trump, Bitcoin, James Butterfill, Shein Organizations: CNBC, Nvidia, Dow Jones, Chevron, Nasdaq, Treasury, The Carlyle, Federal Reserve, Novo Nordisk Locations: Israel, Lebanon, Novo, North Carolina, Danish, London, U.S, Beijing, Singapore, China

☆ Bitcoin is close to breaching a key support level that could trigger another 15% slide
▼ + stars: | 2024-06-24 | by ( Matthew Fox | ) www.businessinsider.com time to read: +2 min

Bitcoin's 16% sell-off this month is testing a key support level at around $60,000. This support level is bolstered by Bitcoin's 200-day moving average of just under $58,000. A break below $60,000 could lead to a 15% decline to the next support level at $51,500. AdvertisementThe steady decline in bitcoin this month has the cryptocurrency testing a key support level that could ultimately give way to a more painful sell-off. But if it doesn't, and bitcoin decisively breaks below $60,000, that suggests the token could continue its descent to its next support level at around $51,500.

Persons: —, Bitcoin, Katie Stockton, bitcoin, Stockton Organizations: Service Locations: bitcoin

☆ Bitcoin tumbles back to $60,000 to start the week
▼ + stars: | 2024-06-24 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

Bitcoin continued its descent to $60,000 on Monday. The price of the flagship cryptocurrency was last down by more than 4% at $61,211.00, according to Coin Metrics. Digital asset investment products notched a second consecutive week of outflows, according to CoinShares. Last week crypto investment products saw their lowest trading volumes globally since the U.S. bitcoin ETFs launched in January. "We have now seen $1.2 billion of outflows from crypto ETFs over the last two weeks which all began after the FOMC meeting.

Persons: Bitcoin, cryptocurrency, James Butterfill, Eleanor Gaywood Organizations: Metrics, CNBC Locations: U.S

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