Fed Chairman Powell: We Will Engage the Public on the Digital Dollar This Year
“This is going to be an important year,” Powell said of the digital dollar project. Nearly every time an elected official has asked U.S. Federal Reserve Chairman Jerome Powell about the digital dollar, he’s emphasized caution and risk to the stability of the U.S. financial system. Wednesday, however, Powell went further while speaking before the […]
MicroStrategy Bets Another $1B on Bitcoin
MicroStrategy turned a veritable mountain of zero-interest debt into its single-largest bitcoin allocation yet. MicroStrategy announced the purchase of another $1.026 billion in bitcoin Wednesday, turning mountains of zero-interest debt into one of the single largest (dollar-denominated) bitcoin investments ever executed by a publicly traded company. CEO Michael Saylor’s business intelligence firm bought the 19,452 BTC at […]
Tether Deal With New York State Brings Quick Reversal of Crypto-Market Sell-Off
The settlement over tether with the New York attorney general’s office appears to remove what might have been a systemic threat to cryptocurrency markets. Bitcoin and other cryptocurrencies recovered partially from their biggest sell-off in a month after the New York state attorney general’s office announced a settlement of a dispute involving the stablecoin tether (USDT) that […]
Bitcoin Briefly Drops Below $48K as Analysts Say Rally Overdone, Yellen Comments
Analysts are mixed on how low bitcoin might go if a bigger pullback is seen. Bitcoin swiftly lost altitude early on Monday, dropping over 15% to below $50,000 before rebounding somewhat. The downward price movement came after bitcoin reached new record highs above $58,300 over the weekend. The drop seemed to accelerate as U.S. Treasury […]
A Sudden Loss of Faith in Tether Would Pose Risk to Bitcoin, JPMorgan Says
“If any issues arise that could affect the willingness or ability of both domestic and foreign investors to use USDT, the most likely result would be a severe liquidity shock to the broader cryptocurrency market,” the report says. According to analysts at JPMorgan, the bitcoin market could face severe liquidity shock if traders were to […]
Bitcoin May Be a Better Investment Than Gold, Says DoubleLine CEO Jeffrey Gundlach
Gundlach has previously said, “I don’t believe in bitcoin.” “Bond King” Jeffrey Gundlach has had a change of heart on bitcoin. Gundlach – CEO of DoubleLine Capital, an investment firm with more than $130 billion in assets under management – now says bitcoin (BTC, +1.35%) could be a better bet than gold. Gundlach, who’s previously said, “I don’t believe in […]
Bitcoin Poised for Short-Term Gains Past $51K as MicroStrategy Upsizes Debt Deal
Bitcoin’s rally could continue in the short term, analysts and traders said, after the largest cryptocurrency by market cap surged on Wednesday to a new all-time-high price above $51,000. The latest leg up came after CoinDesk reported that business intelligence firm MicroStrategy upsized a convertible-note offering to $900 million from an originally announced $600 million, with plans to […]
Coinbase, Readying for Public Listing, Gets $77B Valuation From Nasdaq Private Market
Cryptocurrency exchange Coinbase, which is preparing to trade publicly in the next few months, is being valued at $77 billion, based on trading of the company’s privately held shares on a secondary market. Those shares in the largest crypto exchange in the U.S. are changing hands on the Nasdaq Private Market at $303 a piece, […]
3 Reasons Why Bitcoin’s Price Just Fell by $3K
The sudden pullback just short of a new $50,000 high surprised many investors. Here’s what probably happened. Bitcoin slumped early on Monday, soon after it had looked primed for a convincing move above $50,000. The top cryptocurrency fell from nearly $49,000 to $45,926 during the early Asian hours and was last seen changing hands near […]
First North American Bitcoin ETF Approved by Canadian Securities Regulator
The first publicly traded bitcoin exchange-traded fund (ETF) in North America has been given the go-ahead by Canada’s financial regulator. According to a decision document on Thursday, the receipt of approval from the Ontario Securities Commission (OSC) was filed under a Multilateral Instrument passport system in multiple Canadian jurisdictions. Those territories include British Columbia, Alberta, Saskatchewan, Manitoba, […]