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New York's millionaire population is now larger than the entire populations of Orlando or Pittsburgh. The Bay Area's millionaire population has surged by 82% over the past decade, to 305,700. The U.S. is home to 11 of top 50 richest cities, according to the report. "Notably, U.S. cities have significantly outperformed other western cities over the past decade when its comes to overall wealth and millionaire growth." Here is the full ranking of the world's richest cities, according to Henley & Partners and New World Wealth:1.
Persons: Andrew Amoils, Amoils, Juerg Steffen, Robert Frank Organizations: Henley & Partners, Area, Federal Reserve, Research, New, London, Sydney Locations: York, California, Orlando, Pittsburgh . New York, Brazil, Italy, Canada, San Francisco, U.S, Tokyo, London, China, Beijing, Singapore, Los Angeles, New York, Area, France, Hong Kong
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin continues to trend upward despite price volatility, says Anthony PomplianoAnthony Pompliano, Pomp Investments founder, joins 'Squawk Box' to discuss bitcoin's volatile run, impact of bitcoin's halving on the recent price action,
Persons: Anthony Pompliano Anthony Pompliano Organizations: Investments
Bitcoin will still reach $150,000 by 2025, Bernstein reaffirmed in a new note. ETF and spot bitcoin demand has remained strong, analysts wrote. "Investors ask us if anything has changed on our $150K Bitcoin price view and if the post-halving price correction has affected our conviction. Second, rule updates from the Financial Accounting Standards Board pertaining to crypto are driving corporate interest in bitcoin, Bernstein said. Advertisement"Overall, healthy Bitcoin demand and continued discipline in the Bitcoin mining cycle, allowing the Bitcoin party to last longer this time.
Persons: Bitcoin, Bernstein, , Gautam Chhugani, Mahika Sapra, Block, Chhugani, Bernstein isn't, bitcoin Organizations: Service, ETF, Financial, outflows, Chartered, ~$ Locations: outflows, bitcoin
Bitcoin's break below $58,000 on Wednesday clears a path for it to fall as low as $50,000, Standard Chartered said in new research. The crypto's decline has been driven by rising ETF outflows and falling US liquidity levels. AdvertisementDeteriorating conditions are denting the Bitcoin rally, with this week's drop below $60,000 putting it en route for an even lower price range. According to commentary from Standard Chartered, the apex token could temporarily reach as low as $50,000, signaling an over 13% drop from current levels. Among these are shrinking investments in spot bitcoin ETFs, funds that first sparked the rally at the year's start.
Persons: , Geoff Kendrick, Kendrick, Mike Novogratz, he's Organizations: Chartered, outflows, Service, Standard Chartered, FX Locations: Hong Kong
The logo of the cryptocurrency Bitcoin (BTC) can be seen on a coin standing in front of a Bitcoin chart. Bitcoin on Wednesday plunged sharply to its lowest level in over two months amid broader risk-off sentiment in markets, as investors kept an eye on the U.S. Federal Reserve's upcoming interest rate decision. Crypto market participants are eyeing the upcoming interest rate decision from the U.S. Federal Reserve. The Federal Open Market Committee is due to meet on Wednesday afternoon to discuss its latest policy on interest rates. Markets have become more shaky lately, as investors fret over the prospect of a longer path toward interest rate cuts.
Persons: Bitcoin, Jerome Powell, Geoff Kendrick, Kendrick, Changpeng Zhao Organizations: U.S, U.S . Federal, U.S . Federal Reserve Locations: U.S ., CoinGecko, solana, U.S, Hong Kong
Change Healthcare provides payment, revenue management and other solutions like e-prescription software. UnitedHealth told CNBC in April that it paid a ransom to try and protect patient data. Its business unit Optum — which provides care to 103 million customers — and Change Healthcare — which touches one in three patient records — merged in 2022. Committee Chairman Sen. Ron Wyden, D-Ore., said in his opening remarks that the Change Healthcare breach serves as a "dire warning about the consequences of too-big-to-fail mega-corporations." Sen. Michael Bennet, D-Colo., pressed Witty to share how UnitedHealth is working to ensure something like the Change Healthcare breach will not happen again.
Persons: Andrew, UnitedHealth, Sen, Ron Wyden, Wyden, Thom Tillis, they're, Tillis, Blackcat, Michael Bennet Organizations: Senate, Capitol, U.S ., Finance, UnitedHealth, Healthcare, CNBC, U.S . Securities, Exchange Commission, U.S . Department of Justice Locations: Washington , DC
The bitcoin sell-off could get worse before it gets better, according to analysts who look only at price charts. The downtrend intensified on Wednesday when it tumbled under the $60,000 level for the first time since February, as stubborn inflation and uncertainty around Federal Reserve interest rate policy kept markets under pressure. That was a key support level for bitcoin, representing the approximate convergence of the March low and 100-day moving average, according to Ari Wald, an analyst at Oppenheimer. Wolfe Research's Rob Ginsberg said $60,000 bitcoin looks "vulnerable" and that $50,000 could be in play. Bitcoin traded between $60,000 and $74,000 since mid-March, when the cryptocurrency reached new records and has failed multiple times to break out.
Persons: Ari Wald, Oppenheimer, It's, bitcoin, David Keller, Wald, Keller, Geoff Kendrick, Wolfe, Rob Ginsberg, Bitcoin, , Michael Bloom, Rob Ginsberg's Organizations: CNBC Locations: U.S
Bitcoin may have peaked for this cycle, and what awaits investors could be a steep fall in the token's value. That's from Peter Brandt, a veteran chart analyst who forecast bitcoin's price plunge in 2018. He notes that the gain in each bitcoin bull cycle from 2009 to 2021 has declined by 20%. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "The fact is that the bull market cycles in Bitcoin have lost a tremendous amount of thrust over the years," he said.
Persons: Peter Brandt, , Bitcoin, Brandt Organizations: Service
Bitcoin's seven-month rally is on pause heading into May, now that two key catalysts investors had been closely watching this year – the bitcoin ETFs and the halving – are now behind them. The flagship cryptocurrency has fallen nearly 14% in April, according to Coin Metrics, and is on pace to post its first negative month in eight, and its worst month since November 2022, when FTX collapsed. However, it's proved to be a winning month in the previous halving years of 2012, 2016 and 2020. On Tuesday, Hong Kong bitcoin ETFs began trading. "Whether it's the next month or two months, you'll start to see more wealth management firms approve the ETF on their platforms.
Persons: FTX, It's, bitcoin, Antoni Trenchev, Trenchev, it's, Lyn Alden, Swan, Jerome Powell, there's, Alden, Devin Ryan, you'll Organizations: Metrics, Lyn, Lyn Alden Investment, Federal Reserve, JMP Securities Locations: bitcoin, U.S, Hong Kong, Australia, Japan, Singapore, South Korea
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin and ether dip to end the week, and crypto firm Consensys sues the SEC: 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, Lyn Alden, founder of Lyn Alden Investment Strategy and board director of Swan Bitcoin, provides insight into bitcoin's performance in the face of macroeconomic pressures.
Persons: Consensys, explainers, Lyn Alden, Swan Organizations: SEC, CNBC Crypto, CNBC, Lyn, Lyn Alden Investment
Bitcoin is set for more price gains later this year, even after a recent retreat in prices, according to Standard Chartered's top crypto analyst. Geoffrey Kendrick, head of foreign exchange research, West, and digital assets research at Standard Chartered, said in a research note this week that he sees bitcoin rising to $150,000 per coin, and ether hitting $8,000 by the end of 2024 — doubling down on a bullish prediction from the bank earlier this year. Bitcoin temporarily sank below $60,000 last week as traders reacted to news of an escalating military conflict between Iran and Israel. Also, large long liquidations over the past couple of weeks mean that market positioning is a lot cleaner," Kendrick said. "As a result, with Middle East tensions easing I think it is time to re-engage in medium-term longs."
Persons: Geoffrey Kendrick, Kendrick, Bitcoin, bitcoin, That's Organizations: Standard Chartered, BTC, ETH, Securities and Exchange Commission, Treasury, HK Locations: Israel, Iran, United States, U.S
Memecoins are back and they're producing some wild returns even hedge funds can't ignore. Coins like Dogwifhat and Baby Doge Coin soared amid bitcoin's explosive rise in the first quarter. AdvertisementMemecoins have made a comeback amid bitcoin's big rally this year, and with skyrocketing returns in the highly volatile corner of the crypto market, some hedge funds have been jumping in, Bloomberg reported. California-based hedge fund Stratos debuted a fund that holds Dogifwhat, a token whose mascot is a dog in a beanie. Hedge fund Lekker Capital's founder, Quinn Thompson, told Bloomberg that memecoins are just another chapter in the saga of "retail frenzy," akin to the GameStop and meme stock madness in traditional markets.
Persons: Memecoins, , skyrocketing, Stratos, Howard, rocketed, Crypto, Lekker, Quinn Thompson, Pantera, they've Organizations: Service, Bloomberg, Pantera Capital, GameStop Locations: California, New York
Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin rises past $66,000 in the days following the network's fourth halving: 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, Nico Cordeiro, CIO of quant digital asset hedge fund Strix Leviathan, weighs in on bitcoin's performance following the latest halving and explains what will likely be the next catalysts for the crypto market.
Persons: explainers, Nico Cordeiro Organizations: CNBC Crypto, CNBC
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBrian Kelly talks focusing on Bitcoin's fundamentals after its fourth halvingBrian Kelly, Brian Kelly Capital founder and CEO, joins 'Fast Money' to talk where Bitcoin goes after its halving.
Persons: Brian Kelly, Bitcoin Organizations: Brian Kelly Capital
Magic Eden coders gathered in an Airbnb in San Jose, California, to hack in preparation for the so-called bitcoin halving. Their goal was to spend a week hacking to prepare for the so-called bitcoin halving — an event that is baked into the chain's code and helps to stave off inflation through programmatic monetary policy. watch nowTechnically speaking, runes just enables asset issuance of fungible tokens on bitcoin's base chain. The reason this is significant to developers is because of its efficiency relative to existing BRC-20 tokens, bitcoin's widely-used fungible token standard that has already received a ton of traction. "There's definitely been an awakening of capital interest in the bitcoin layer two space," said Muneeb Ali, who co-founded Stacks — an open-source blockchain network that brings smart contracts to bitcoin.
Persons: Eden coders, Amil Husain, Magic Eden, Bitcoin, Eden's, Zedd Yin, Eden's coders, Yin, blockchain, Casey Rodarmor, Rodarmor, Casey, Nic Carter, Bill Barhydt, bitcoin, Barhydt, I've, Carter, PitchBook, There's, Muneeb Ali, Ali, Christopher Calicott, Amil Husain DeFi, Hong Fang, Fang, Goldman Sachs, Stacks's Ali Organizations: East Foothills, Fighter, Engineers, solana, Island Ventures, Venture, CNBC, Magic Eden, Austin, Trammell Venture Partners, Labs, Ribbit Capital Locations: San Jose , California, U.S, Northern California, solana, ethereum, Abra, bitcoin, San Jose, Bitcoin
Bitcoin miners brace for impact as halving goes live
  + stars: | 2024-04-21 | by ( Mackenzie Sigalos | ) www.cnbc.com   time to read: +17 min
The technical event is relatively simple: Bitcoin miners get paid in bitcoin to validate transactions, and after 210,000 blocks of transactions are computed and added to the main chain, the reward given to the miners securing bitcoin is 'halved.' The aggregate market cap of the 14 U.S.-listed bitcoin miners tracked by JPMorgan analysts declined 28% over the first half of April to $14.2 billion, reaching year-to-date lows. Some have billed the 2024 bitcoin halving as a seminal moment for the mining sector. Marathon, along with other mining firms, has begun diversifying its business model into ancillary operations beyond purely bitcoin mining. Sullivan continued, "Bitcoin mining sites can only be repurposed if they meet the attributes that are required for HPC.
Persons: AUSTIN , TEXAS — Adam Sullivan, bitcoin, Sullivan, they'll, it's, Core's Sullivan, Bitdeer, Needham, Haris Basit, Basit, Cantor Fitzgerald, Greg Beard, Beard, Bitdeer's, Jason Les, Les, Fred Thiel, Capex, Thiel, Stronghold's Beard, Nic Carter, Blackrock, Bill Barhydt, Barhydt, Island's Carter isn't, Carter, CoinShares Organizations: bitcoin, CNBC, JPMorgan, Cipher, Bitdeer Technologies, Mining, Miners, Riot, Island Ventures, Circuits, Nvidia, CoreWeave, Bitcoin, HPC Locations: AUSTIN , TEXAS, Texas, bitcoin, U.S, Rockdale , Texas, Singapore, Bitcoin, Hong Kong, Abra, Europe, Dalton , Georgia, North America
Bitcoin halving: Here's why it matters
  + stars: | 2024-04-19 | 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 halving: Here's why it mattersMeltem Demirors, advisor and former chief strategy officer at Coinshares, joins CNBC's 'The Exchange' to break down the impact of Bitcoin's halving on mining trends, price, and more.
Bitcoin's "halving" is expected to happen soon. But its potential impact depends on your relationship to the coin; it's likely to affect miners and investors differently. "To the people who own bitcoin because they think it's a good store of value, this halving is not that big of a deal. Miners receive bitcoins, known as block rewards, for verifying and validating transactions and helping keep the blockchain network secure. What the bitcoin halving may mean for investorsWhile the halving itself doesn't directly impact bitcoin's price, investors' anticipation of the event can lead to highly erratic price movements, says Douglas Boneparth, a certified financial planner and president of Bone Fide Wealth.
Persons: Douglas Boneparth, Boneparth, Malekan Organizations: Columbia Business School, Architecting, Money, CNBC, Bone, Miners
Trump's hush-money trial is set to heat up
  + stars: | 2024-04-19 | by ( Dan Defrancesco | ) www.businessinsider.com   time to read: +7 min
In today's newsletter, we're looking at the first week of former President Donald Trump's criminal trial and what's at stake. What's on deck:This story is available exclusively to Business Insider subscribers. AdvertisementFormer President Donald Trump's hush-money trial — the first-ever criminal trial of a former president — got underway this week with jury selection . We did get a preview of Trump's potential defense: " Some accountant " handled the paperwork he's on trial for, Trump told reporters. AdvertisementThe trial is focused on 34 felonies alleging the Trump Organization's business records were falsified to hide other crimes.
Persons: , Donald Trump's, CHARLY TRIBALLEAU, Drew Angerer, Tyler Le, Trump, Stormy Daniels, Daniels, Zelei, Loretta Mester, John Williams, Rebecca Zisser, David Lieb, Sundar Pichai, Demis, Google's, BI's Ben Bergman, Eddie Mulholland, Alyssa Powell, Samsung execs, Taylor Swift's, Dan DeFrancesco, Jordan Parker Erb, Hallam Bullock, George Glover Organizations: Service, Business, Getty, Trump, Cleveland Fed, York Fed, , Bank of America, Google, Android, Bankers, Jefferies, Investor Conference, Samsung, Korea Economic, Disney, Warner Bros, American Express, Procter, Gamble, Poets Department Locations: Israeli, Iran, Israel, Florida, Korea, New York, London
In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailKraken CEO David Ripley talks bitcoin's halving and what it means for the crypto spaceDavid Ripley, Kraken CEO, joins 'Fast Money' to talk the bitcoin halving and what's ahead for the cryptocurrency.
Persons: David Ripley
And that's, that's the whole idea of it. Tom ChittySo if I go and buy bitcoin, the bitcoin I buy is fresh bitcoin that's been mined, not someone who's selling bitcoin is that right? Arjun KharpalThe likelihood is if you buy bitcoin, if we go on an exchange and buy bitcoin, we're selling bitcoin that's in existence already. And so what they say is, well, with the halving, you know, bitcoin will not be devalued. That's that's really what so many of the enthusiasts and proponents love about it.
Persons: Bitcoin, Tom Chitty, Arjun, we'll, Ethereum, Arjun Kharpal Paris, Kharpal, we've, Arjun Kharpal, Tom Chitty 13,777B, that's, what's, they're, bitcoin, there's, That's, It's, you've, Richard Tang, Richard Teng, I'm, he's, Arjun Kharpal That's, Tom, it's, Tom Chitty That's, I've, Arjun Kharpal It's, they've, Binance, Arjun Kharpal Binance, Changpeng Zhao, cryptocurrency, Jan van Eck, Jean, Marie Mognetti, van Eck, Jan Van Eck, Cathy, Gary Gensler, let's, Tom Chitty Let's, Tom Chitty Oh, There's, Tom Chitty Memecoins, Arjun Kharpal They're, we'd, David Hunt, David, Tom Chitty Poor David, Paris, Tom Chitty We'll Organizations: CNBC, Eurostar, U.S ., Paris, Department of Justice, U.S, CZ, DOJ, SEC, Mr, Gamestop Locations: beyondthevalley@cnbc.com, Paris, CNBC.com, bitcoin, U.S, Abu Dhabi, Binance, Chicago, Pennsylvania, Elmira , New York, NYC , New York City, Syracuse, Elmira, it's
The bitcoin halving is set to take place in the next few days, which will cut miners' main stream of revenue in half. "We believe a bitcoin price above $60,000-$65,000 means the halving is de-risked for nearly all public miners," Needham analyst John Todaro wrote in a note to clients on Tuesday. It currently costs miners between $36,000 and $52,700 to mine a single bitcoin, Todaro said. Miners offer amplified exposure to bitcoin's price action, which has been more volatile since the launch of bitcoin ETFs introduced more leverage to the market. "That's propelled bitcoin to a threshold where the miners are really generating healthy economics," said Colonnese.
Persons: , Needham, John Todaro, Todaro, Iris, Mike Colonnese, Wainwright, Iris Energy, bitcoin, it's, — CNBC's Michael Bloom Organizations: Marathon, Iris Energy, Cipher Mining, Miners, H.C, Iris, JPMorgan Locations: exahash
Citi says it may be too early to classify bitcoin as "digital gold" despite its safe haven properties and recent correlation with the yellow metal. Many bitcoin fans regard the cryptocurrency as a digital version of gold because of its finite supply and its function as a store of value. Citi analyst Alex Saunders acknowledged that it can and has displayed both safe haven and risk asset behaviors, but said the digital gold analogy isn't yet warranted. Bitcoin does not yet exhibit the 'store-of-value' properties of gold, despite both being limited-supply, zero-coupon-bearing instruments." "Adoption of the emergent blockchain technology will be key to the long-term utility of bitcoin and other cryptocurrencies," he added.
Persons: Alex Saunders, , Saunders, bitcoin, Michael Bloom Organizations: Citi Locations: East
Breaking down Bitcoin's upcoming 'halving' event
  + stars: | 2024-04-16 | 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 EmailBreaking down Bitcoin's upcoming 'halving' eventHosted 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
Bitcoin had been trading at around $70,000 on Saturday evening but plunged to below $62,000, according to data from the Bitstamp exchange. Bitcoin was down some 8% late on Saturday evening as U.S. officials confirmed the attack was taking place. The cryptocurrency market suffered heavy selling overnight Saturday amid an unprecedented Iranian drone and missile attack on Israel. In the Middle East, events overnight marked the first instance of a direct attack on Israel from Iranian territory. The deluge of drones and missiles on Israel was reportedly in response to a suspected Israeli strike that killed top Iranian officials in Syria.
Persons: Bitcoin, bitcoin, , Ruxandra Iordache Organizations: Bloomberg, Tel, Tel Aviv Stock, TA Locations: Israel, Syria, Tel Aviv, London
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