Feb 29
Bitcoin Is Mooning: Here Are BTC’s Biggest Single-Day Price Gains in History
The price of Bitcoin continues to surge, with spot Bitcoin ETFs in the rearview mirror and the halving coming in April. Renewed euphoria has swirled as the price of Bitcoin skyrocketed to $64,000 on Wednesday. “Fourth Bitcoin bull market, and this all feels very different,” prominent Bitcoin podcast host Peter McCormack said on Twitter. Fourth #bitcoin bull market and this all feels very different. Lessons from the others:- 2013 spent all my #bitcoin and traded CFDs. Ended 2013 with 0 #bitcoin....
Dec 1
Is Bitcoin Poised for Another Bull Run? Experts Weigh In
Bitcoin today hit $39,000 per coin for the first time since a brutal digital asset crash in May 2022 that brought with it a long and painful bear market. The virtual coin has since made a terrific comeback: at the start of January, it was trading for less than $17,000 per coin; it is now up 128%. Could this mean we’re seeing the beginning of a bull run? Some experts say it’s only up from here. A lot has happened in the crypto space since blockchain project Terra collapsed last year, leading...
Oct 19
Invesco Drops Bitcoin Futures ETF Filing
In a move that surprised some experts, Invesco Ltd, an investment management company with $1.3 trillion in assets under management, decided not to immediately pursue its Bitcoin futures application. “We have determined not to pursue the launch of a Bitcoin futures ETF in the immediate near-term,” an Invesco spokesperson told Bloomberg. The firm added that it will carry on with its Galaxy Digital partnership to offer investors a “full shelf of products” with exposure to digital assets, including...
May 27
Shark Tank's 'Mr. Wonderful': Bitcoin Institutional Investment Is 'BS'
Canadian investor Kevin O'Leary, better known as "Mr. Wonderful" on the investment pitch series "Shark Tank," is personally investing in Bitcoin. But he doesn't think institutional investors like mutual funds and insurers are, despite what others say. "You bring on guests all the time that say, 'Oh, institutions are getting into Bitcoin.' That's BS," he told Oliver Renick of the TD Ameritrade Network today. "They are not yet. There is no institution out there, any sovereign or pension plan, that...
May 26
Is the Bitcoin Bull Run Just Getting Started? Experts Weigh In
That Bitcoin bull may still have some kick in him yet, despite the events of the past week, experts tell Decrypt. Bitcoin’s latest price crash (or “correction,” if you’re technical and perhaps more optimistic) has many investors worried—especially those new to the game who have been quick to sell. Some are already fearing the worst—another frosty crypto winter, when we’re still in May. Bitcoin showed signs that the bull run may be coming to an end when the crypto market suffered its worst dol...
BlackRock Still 'Studying' Bitcoin, Wary of Market Volatility
BlackRock, the world’s largest asset manager, is studying crypto, but has warned of its volatility, according to reports. Larry Fink, the CEO of the company, which manages $9 trillion-worth of assets, made the comments during a shareholder meeting today—seven days after Bitcoin suffered its worst pullback in history. Last week, on a day dubbed “Black Wednesday,” Bitcoin fell 30% in 24 hours and the entire crypto market lost more than $500 billion. Fink warned investors that it was too early to...
May 25
Despite Historic Crash, Most Bitcoin Investors Still in Profit: Report
The Bitcoin market just suffered one of the worst crashes in its 12-year history. And yet, despite the massive drawdown over the last several days, most Bitcoin investors are still in the profit. While it’s true that the crash can be partly blamed on panic selling, most long-term holders aren’t up for flogging their coins, according to blockchain analysis company Glassnode, whose latest figures show that 73.17% of all Bitcoin “entities” are still in the black. An “entity” is defined by Glassnod...
May 17
How Today’s Bitcoin Slump Compares to 2017 Bull Run Drawdown
Bitcoin’s latest price slump has got investors sweating. Do they have reason to worry? Not if you’re a long-time HODLer looking at the bigger picture, argues blockchain analysis company Glassnode in a report today. The weekend dip—with Bitcoin trading down 26.1% over the course of the week—is the deepest correction the current Bitcoin bull run has experienced, says Glassnode. Corrections, though, are common in the world of investments, and Bitcoin is no different. Whenever a market runs too h...
May 13
Bitcoin Whales Are Dwindling: What Does That Mean for the Market?
The number of Bitcoin whales is dwindling, according to figures released this week from blockchain data provider Glassnode. That fact might seem counterintuitive. Aren’t more big players in the finance and tech worlds buying up Bitcoin than ever before? Well, yes and no. It’s true that large companies, such as Square and Tesla, have bought up large hoards of Bitcoin within the last few months. Payments company Square, for example, now holds $394 million in Bitcoin as part of its treasury. And...
Tesla's Bitcoin Bombshell Puts Spotlight on Sustainable Cryptos
Cryptocurrencies crashed across the board today—an event already being dubbed “Rug Wednesday”—after erstwhile Bitcoin champion Elon Musk declared that Tesla would no longer be taking payments in the cryptocurrency for its era-defining electric motors. Musk cited concerns over the energy expenditure of mining Bitcoin—immediately shaving around $5,000 off Bitcoin’s price—but he held out a carrot to altcoin fans (anyone who’s not a Bitcoiner). “We are also looking at other cryptocurrencies that us...
May 3
What CME Micro Futures Mean for the Bitcoin Market
Derivatives marketplace Chicago Mercantile Exchange (CME) Group today launched micro Bitcoin futures at one-tenth the size of one Bitcoin. The new offering aims to attract priced-out retail investors and flexibility-seeking institutional investors. What it boils down to is that Bitcoin futures contracts are now available to investors at $6,660 in today’s market—a far cry from $290,000, the worth of non-micro Bitcoin futures. “When you look at the price of Bitcoin and how much it’s appreciated ov...
Apr 15
BlackRock CEO Sings Bitcoin’s Praises as Future ‘Great Asset Class’
BlackRock CEO Larry Fink today said that he is “fascinated” by Bitcoin and that the cryptocurrency could soon become a “great asset class.” But the billionaire boss of the world’s biggest asset manager and former Bitcoin skeptic said it would not be a substitute for currencies, in an interview today with CNBC. "It may become a great asset class and I do believe this can become a great asset class," says Larry Fink. "I don't believe we should think about #crypto as a substitute of currency."#b...
Apr 8
Publicly Listed Meitu Now Holds $100 Million in Bitcoin, Ethereum
Chinese tech company Meitu today announced that it has invested more cash in crypto with a $10 million Bitcoin buy. The publicly listed company now owns $100 million-worth of Bitcoin and Ethereum as part of its “cryptocurrency investment plan.” The company, which makes smartphones and selfie apps, said it bought over 175 Bitcoin in its latest investment. Meitu started off March by spending $22 million on Ethereum and $17.9 million on Bitcoin. A couple of weeks later it bought an additional $2...
Apr 5
MicroStrategy Stock Spikes Following Another Big Bet on Bitcoin
Tech company MicroStrategy today announced another Bitcoin investment—bringing its “digital gold” fortune to over $5.4 billion. The cloud software company, which arguably is one of the key reasons for Bitcoin’s phenomenal bull run, said it had pumped $15 million-worth of cash into the digital asset, buying an extra 253 Bitcoins. Following the announcement, MicroStrategy’s stock (MSTR) also pumped and is today up 3.33%, according to Bloomberg data. Last week, global financial services firm BT...
Cryptocurrency Market Hits $2 Trillion, Doubling in Just 3 Months
The cryptocurrency market is now worth $2 trillion, according to new figures from crypto data provider CoinGecko. It’s been just three months since the global crypto market capitalization hit $1 trillion—a number that took a decade to reach. “Global crypto market capitalization” is a sort of an ambiguous shorthand, since there are more coins than the 6,626 tracked by CoinGecko. By comparison, the Binance-owned CoinMarketCap only tracks a little over 4,000 coins and is currently reporting a tota...
Mar 26
Bitcoin at 'Inflection Point' as Fiat Debasement Rises: Soros Fund Management CIO
Bitcoin and other cryptocurrencies are at an “inflection point,” and this is partly due to increased money supply in the US, the CIO of Soros Fund Management said yesterday. Investment banker Dawn Fitzpatrick also said that the investment fund—founded by billionaire investor George Soros—was also investing in cryptocurrency infrastructure, in a Thursday interview with Bloomberg. Fitzpatrick added that Bitcoin was “interesting” and no longer a “fringe asset.” “When it comes to crypto generally...
Mar 24
What Seven Banks Have Said About Bitcoin
Bitcoin is now the world’s third-largest currency, according to a report by Deutsche Bank. And with the cryptocurrency soaring 750% to reach $60,000 this month—and a market cap in excess of $1 trillion—it’s become too big for the banks to ignore. But there’s little consensus among the big investment banks as to whether the asset class is a long-term value proposition—or even whether it’s a proposition at all. US Federal Reserve chair Jay Powell has said that crypto assets are more for speculati...
Here's How Much It Costs to Buy a Tesla With Bitcoin
Lamborghinis have been the traditional status symbol for Bitcoin millionaires. After today, expect to see more crypto influencers rolling up in Teslas. When Tesla reported its $1.5 billion purchase of Bitcoin to the US Securities and Exchange Commission, the electric automaker mentioned an important detail in the filing: It wasn’t just buying thousands of Bitcoin—it was going to start accepting them for its products, too. On March 24, Telsa CEO Elon Musk confirmed that the automaker is now offer...
Publicly Listed Meitu Tapped Coinbase for $90M Bitcoin, Ethereum Buy
Coinbase Institutional, the wing of the cryptocurrency exchange that handles transactions for companies, today announced that it has custody of the $90 million Bitcoin and Ethereum snapped up by Chinese tech company Meitu this month. Meitu, which makes smartphones and selfie apps, spent $22 million on Ethereum and $17.9 million on Bitcoin at the start of March before buying an additional $28.4 million Ethereum and $21.6 million Bitcoin two weeks later. Coinbase Institutional was selected by @...
Mar 17
Morgan Stanley Will Offer Investors Access to Bitcoin Funds
Morgan Stanely will allow certain clients access to Bitcoin funds, CNBC has reported and Decrypt has confirmed. The bank shared the news with its wealth managers Wednesday morning. There are three funds on offer: two from billionaire Mike Novogratz’s crypto firm, Galaxy Digital, and a third that’s a joint effort from NYDIG and FS Investments. The minimum investments for Galaxy Bitcoin Fund LP and Galaxy Institutional Bitcoin Fund LP are $25,000 and $5 million, respectively, and the minimum for...
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