Citigroup Helping World Governments Build Digital Currencies, CEO Says
Citigroup Chief Executive Michael Corbat said his bank is helping governments “around the world” in creating sovereign digital currencies, otherwise known as central bank digital currencies, or CBDC. Speaking to David Rubenstein at a Friday Bloomberg event, Corbat made clear CBDCs are an “inevitable” development in the future of money. Citigroup, the multinational banking giant, […]
Bitcoin Price Could Hit $50K in 2021, Bloomberg Analysts Say
The path of least resistance for bitcoin is on the higher side, and the cryptocurrency could more than double from its current value in 2021, according to Bloomberg analysts. “Bitcoin (BTC, -2.08%) will maintain its propensity to advance in price into 2021, in our view, with macroeconomic, technical and demand [versus] supply indicators supportive of $50,000 target […]
First Mover: Ether Eyed as Value Play With Bitcoin Pressing $20K
Bitcoin was heading back toward the all-time high price of $19,920 notched earlier this week. “So far, prices remain constrained, either with sellers unwilling to part with their coins at any lower price or buyers unwilling to take further bets on a rally,” Matt Blom, head of sales and trading at the cryptocurrency-focused financial firm […]
S&P Dow Jones Indices to Launch Crypto Indexes in 2021
S&P Dow Jones Indices, a major financial data provider, said Thursday it will launch a customizable cryptocurrency indexing service in partnership with crypto tax service Lukka in 2021. The coming product is poised to become a hub for cryptocurrency pricing data at a time when more Wall Street investors than ever are searching. This year’s bull run […]
Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC
Guggenheim Funds Trust filed an amendment with the U.S. Securities and Exchange Commission to allow its $5 billion Macro Opportunities Fund gain exposure to bitcoin by investing up to 10% of the fund’s net asset value in the Grayscale Bitcoin Trust (GBTC). According to the amendment: “The Guggenheim Macro Opportunities Fund may seek investment exposure […]
Investment Giant AllianceBernstein Now Says Bitcoin Has Role in Investors’ Portfolios
The research arm of New York-based AllianceBernstein, a global investment manager with $631 billion in assets under management, has had a change of heart when it comes to bitcoin as an investment asset. In a research note produced for clients, seen by CoinDesk, Inigo Fraser-Jenkins, co-head of the portfolio strategy team at Bernstein Research, said […]
PayPal CEO Dan Schulman Tells Web Summit the ‘Time Is Now’ for Crypto
PayPal (PYPL) CEO and President Dan Schulman took to the stage on the first day of the major Web Summit event on Wednesday, telling the estimated 100,000 attendees that for cryptocurrency “the time is now.” Interviewed by New York Times columnist Andrew Ross-Sorkin for the online 2020 tech conference, Schulman anticipated digital currencies soon entering […]
The Dollar Losing A Decade Long Trendline Could Send Bitcoin Skyrocketing
The year was 2009 and the dollar had just recovered from The Great Recession. Bitcoin was born and grew up while the dollar regained its throne. After ten years of strengthening, the pandemic and associated monetary response to sustain the economy, caused the almighty dollar to weaken again. And according to the Dollar Currency Index losing […]
Bitcoin Starts Its Series of Hitting All-Time Highs
After an accelerated bull run this past weekend, on Monday, the most popular cryptocurrency, bitcoin (BTC) started revisiting its all-time highs (ATHs). (Updated at 15:41 UTC: updates throughout the entire text). Per Coingecko.com, BTC hit USD 19,686 today, surpassing its previous ATH of USD 19,665, reached on December 16, 2017. At pixel time, BTC trades at USD 19,579 […]
‘Twitter Philanthropist’ Pulte Shares 30 Secret Billionaire Bitcoin Owners Rumor
The millionaire “Twitter Philanthropist” Bill Pulte, dubbed “Bitcoin Bill” after his foray into the BTC market back in December 2019, has taken to social media, live-streaming to his followers to share claims that “30 billionaires” have bitcoin holdings they are not telling the public about. Pulte said, “I was on the phone to a billionaire the other […]