A former equities CIO of Goldman Sachs drew an strong response on Twitter after suggesting Tesla should sell its Bitcoin and buy back company shares. The price of TSLA shares have fallen 28% from $863.42 to $621.44, since news broke on Feb. 8 that Tesla had made a $1.5 billion BTC acquisition. MicroStrategy’s shares have fared
In hindsight, February can be viewed as a watershed moment in the history of Bitcoin. The entire month could be looked back upon by market specialists and economists, as the markets saw an enormous surge before correcting themselves later in the month. The flagship cryptocurrency asset, Bitcoin (BTC), hit its all-time high of $58,352 on
Bitcoin (BTC) will be worth “infinity” and humanity will soon give up pricing it in U.S. dollars, says the CEO of cryptocurrency exchange Kraken. Speaking to Bloomberg on March 4, Jesse Powell was characteristically bullish on Bitcoin as BTC/USD broke above $50,000. Powell: $1 million Bitcoin in ten years “reasonable” “Of course, you know, we
A survey carried out by JPMorgan found that one in five institutional investors at firms that don’t currently trade in cryptocurrency believe their companies are likely to do so in future. The survey of more than 3,400 investors representing 1,500 institutions, found that 11% of respondents work at firms that trade or invest in crypto,
Whales are continuing to accumulate Bitcoin (BTC) despite the price more than doubling so far in 2021, according to the latest data from CryptoQuant. This trend indicates that the confidence in Bitcoin is strengthening as the price is now attempting to stabilize above the $50,000 level. Why whale confidence is important During bull cycles, whales
Major cryptocurrency tax compliance startup TaxBit has raised $100 million as it expands into Europe. According to a March 3 blog post, TaxBit has secured the funds in Series A round led by Paradigm and Tiger Capital. Additional investors included PayPal’s venture arm, major industry firms like Coinbase and Winklevoss Capital, as well as individual
The rarest Pepe of them all, “Homer Pepe”, has sold for 205 ETH ($320,000) according to owner Peter Kell. The one-of-a-kind card displays a morph between Simpsons character Homer and the infamous Pepe The Frog. Peter Kell’s Instagram post. Source: Instagram Pepe is a cartoon frog created by artist Matt Furie and has inspired countless
HGreg, a Quebec-based vehicle superstore with 30 North American locations, will begin accepting cryptocurrency payments for new or pre-owned vehicles this month. The auto dealer, which has locations in Quebec and Florida, is becoming one of the first large automotive groups to accept digital asset payments in its day-to-day operations. The company claims to have
The price of Bitcoin (BTC) is outpacing the popular Stock-to-Flow (S2F) model, which predicts that the BTC price would eventually reach $200,000. The S2F model forecasts the long-term price trend of Bitcoin by taking two main factors into account, namely the amount of BTC in existence (the stock) against the amount of newly mined coins
On March 1 cryptocurrency investors woke up to the sight of Bitcoin (BTC) rising from it weekend correction to $44,000 as the market found its bullish momentum and altcoins rebounded from their swing lows. Data from Cointelegraph Markets and TradingView shows that the price of Bitcoin increased 16.6% from its low of $43,504 on Feb.
The U.S. bond yields have softened and this has ignited investor’s appetite for risk-on assets. After a negative closing last week, the S&P 500 has started the current week on a positive note. Thi bullish sentiment has also rubbed on to the crypto sector, which is surging higher, led by Bitcoin (BTC). After Tesla and Mastercard’s
The world’s largest cryptocurrency, Bitcoin (BTC), is at a defining moment in history, according to analysis from American investment bank Citigroup. Bitcoin is now at a “tipping point” to either become the preferred currency for international trade or face a “speculative implosion,” Citi analysts reportedly said. According to a Reuters report Monday, Citi analysts are
Since 2017, investors have been anxiously awaiting a Bitcoin ETF approval as the existence of such a fund was an important symbol of mass adoption and acceptance from the realm of traditional finance. On Feb. 18, the Toronto Stock Exchange hosted the official launch of the Purpose Bitcoin ETF and the fund quickly absorbed more
Coinbase’s IPO announcement has been hailed as “a milestone for the crypto industry” by Fortune Magazine. Similar to the Netscape IPO announcement that signaled the legitimacy of the internet, Coinbase’s impending public offering signals to the public at large that cryptocurrency trading is legitimate, legal and secure in the eyes of the Securities and Exchange
The price of Bitcoin (BTC) has dropped to the key $44,000-$45,000 support level on Feb. 28 for the third time in the past week. BTC/USD 1-hour candle chart (Bitstamp). Source: Tradingview The BTC/USD pair briefly dipped below $44,000 on Bitstamp before paring some of the losses, bouncing back above $45,000 at the time of writing.
Historical data shows that it is nearly impossible to consistently predict Bitcoin’s price action and many traders that attempt this end up losing money. Now that Bitcoin trades near $50,000, the ultimate goal for most traders is to hold on to their current holdings and incrementally add to them in a way that is not