Bitcoin Halving Could Leave Price at $20K-$50K, Hedge Fund Manager Says
Bitcoin’s scheduled mining-reward halving in May 2020 could leave prices for the cryptocurrency in a range between $20,000 and $50,000, according to a new estimate. The projection by Charles Hwang, managing member of the hedge fund Lightning Capital and an adjunct professor at Baruch College, represents a multiple of bitcoin’s current price around $7,500. Hwang […]
State Street: 38% of Clients Will Put More Money into Digital Assets in 2020
The majority of asset managers that bank with State Street are interested in digital assets such as bitcoin, but none have asked the global custodian to store them yet. “We’re talking to them less about ‘Can you custody this,’ and more about how we can work together to make sure these changes aren’t disruptive to […]
Microsoft Teams up With Enjin to Offer Crypto Collectible Rewards
Do good work, earn a “badger.” That’s the idea behind a new incentives scheme launched by Microsoft in partnership with blockchain gaming project Enjin. Dubbed Azure Heroes, a new web page for the initiative describes its as a “new and fun way to earn digital collectibles for meaningful impact in the technical community.” Simply, Azure Heroes rewards […]
Crypto Lender BlockFi Rolls Out Zero-Fee Trading for Bitcoin, Ether, GUSD
BlockFi, the cryptocurrency lending service backed by Galaxy Digital, Winklevoss Capital, ConsenSys Ventures and others, is expanding into trading with an unusual, zero-fee model. The startup has made a name for itself by offering investors a way to realize a return on their crypto without selling it. Clients deposit bitcoin, ether or the GUSD stablecoin […]
WisdomTree launches its first bitcoin exchange-traded product
LONDON (Reuters) – U.S. asset manager WisdomTree launched on Tuesday its first investment product that tracks bitcoin, a rare example of a mainstream money manager offering exposure to the volatile world of digital currencies. WisdomTree, which specializes in exchange-traded funds, said in a statement the bitcoin exchange product (ETP) will offer large investors exposure to […]
Bullish Bitcoin Chart Pattern Still Intact Despite 7% Price Drop
Bitcoin has pulled back sharply over the last 48 hours, but is holding well above support near $6,850 keeping the short-term bullish bias intact. The top cryptocurrency is currently trading near $7,330, representing a 7.3 percent drop from the high of $7,870 registered on Friday. With the pullback, bitcoin has erased more than 45 percent […]
What a Schwab-TD Ameritrade Merger Would Mean for Crypto
Update (Nov. 26, 01:30 UTC): Schwab has officially announced a deal to buy TD Ameritrade for $26 billion in stock, confirming last week’s press reports. An acquisition of TD Ameritrade by Charles Schwab would change the landscape of the traditional brokerage industry – and it may have implications for the ongoing mainstreaming of cryptocurrency trading. The companies are […]
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The Case for a Bitcoin ETF
The following article originally appeared in Institutional Crypto by CoinDesk, a free newsletter for the institutional market, with news and views on crypto infrastructure delivered every Tuesday. Sign up here. Issuers have submitted proposal after proposal for a bitcoin-based exchange-traded fund (ETF), and the SEC has delayed or rejected each one. It’s time, however, to ask why and […]
Bitcoin Price Dips to Six-Month Low of $7,000
Bitcoin’s price dropped to a six-month low on Friday, with a widely tracked technical indicator reporting the strongest bearish bias in eight months. The number one cryptocurrency by market value fell to $7,009 on Bitstamp at 10:05 UTC – the lowest level since May 17 – erasing the entire rally from $7,293 to $10,350 in […]