Tag Archives: Bitcoin

GameStop Investing Craze ‘Proof of Concept’ for Bitcoin Success, Says Scaramucci

GameStop Investing Craze ‘Proof of Concept’ for Bitcoin Success, Says Scaramucci

A campaign by members of a Reddit investor forum have caused GameStop stock to spike to record levels in the last week. SkyBridge Capital’s Anthony Scaramucci said Wednesday that retail investor-led stock surges for video gaming firm GameStop suggest bitcoin will ultimately be a success. On Tuesday, a volatile trading session largely driven by a campaign […]

Bitcoin Drops Below $30K, Dollar Bounces Ahead of Fed Reserve Rate Announcement

Bitcoin Drops Below $30K, Dollar Bounces Ahead of Fed Reserve Rate Announcement

Bitcoin would likely extend losses further if Fed Chairman Jerome Powell drops hints of a gradual unwinding of stimulus programs later today. Bitcoin and global equities are trading lower, while the anti-risk U.S. dollar is climbing ahead of a U.S. Federal Reserve meeting later today that may inject volatility into financial markets. The number-one cryptocurrency […]

Harvard, Yale, Brown Endowments Have Been Buying Bitcoin for at Least a Year: Sources

Harvard, Yale, Brown Endowments Have Been Buying Bitcoin for at Least a Year: Sources

Some of the largest university endowment funds in the U.S. have been quietly buying cryptocurrency for the past year or so through accounts held at Coinbase and other exchanges, CoinDesk has learned. According to two sources familiar with the situation, Harvard, Yale, Brown and the University of Michigan as well as several other colleges have […]

Increased Mainstream Adoption of Bitcoin Cuts Diversification Benefit, JPMorgan Says

Increased Mainstream Adoption of Bitcoin Cuts Diversification Benefit, JPMorgan Says

Bitcoin’s correlation with traditional markets could “erode” its “diversification value over time.” JPMorgan strategists questioned bitcoin’s utility as a reliable investment hedge in a memo published Thursday. Calling bitcoin the “least reliable hedge during periods of acute market stress,” strategists Federico Manicardi and John Normand questioned bitcoin’s ability to function as reliable diversification investment through times of […]

First Mover: What’s Next for Ethereum After Cryptocurrency Hits All-Time High

First Mover: What’s Next for Ethereum After Cryptocurrency Hits All-Time High

The Ethereum blockchain is growing fast thanks to DeFi, and some traders say the ether cryptocurrency could notch further gains. Bitcoin (BTC), the largest cryptocurrency, was down for a second straight day, pushing toward the lower end of the range between $34,000 and $40,000 where prices have traded for the past couple weeks. Ether (ETH), the second-biggest […]

Everyone On Wall Street Thinks Everyone Else On Wall Street Is Long Bitcoin… But Almost None Are

Everyone On Wall Street Thinks Everyone Else On Wall Street Is Long Bitcoin… But Almost None Are

Once upon a time the Bank of America Fund Manager Survey served a useful indicator of what finance professionals did and thought. Then, over the years, it became a survey which revealed what the prevailing consensus narrative was  – if not what respondents actually did – as survey participants merely answered question in line with what they thought was the right […]

Biden’s $1.9T Relief Package Proposal Fails to Stir Bitcoin Market

Biden’s $1.9T Relief Package Proposal Fails to Stir Bitcoin Market

Bitcoin’s two-day rally has stalled as the U.S. dollar gains ground in the wake of Joe Biden’s fiscal stimulus announcement. The U.S. President-elect proposed an emergency relief package worth $1.9 trillion at around 00:15 UTC when bitcoin (BTC, -7.87%) was changing hands near $39,600. At press time, the leading cryptocurrency by market value is trading down near $38,000, according to CoinDesk […]