June 2021 / 62 posts found

Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Collapse the Economy’ – Economics Bitcoin News

by crypto journalist
Economist Steve Hanke Warns Salvadoran Bitcoin Adoption Could ‘Completely Collapse the Economy’ The professor of applied economics at Johns Hopkins University, Steve Hanke, has recently been criticizing bitcoin adoption taking place in El Salvador. Hanke doesn’t think it’s a good idea for the Latin American country to use bitcoin as legal tender and says it could “completely collapse the economy.” Steve Hanke Wants Countries to Adopt Currency Boards Instead of Gravitating Toward Bitcoin Adoption The American economist Steve Hanke knows a lot about currencies, as he is the Cato Institute’s senior fellow and director of the Troubled Currencies Project. Hanke […]

Can Bitcoin Buttress the Asset Management Industry? – Bloomberg

by crypto journalist
The outlook for the global asset management industry, plagued in recent years by unmerciful downward pressure on fees, is starting to look brighter. With memestocks, decentralized finance and non-fungible tokens capturing the headlines, money managers need to keep up with the zeitgeist. A new report suggests that the cryptocurrency markets offer a great opportunity for fund managers and wealth management firms to tap a new client base and seize a source of fresh revenue. Color me skeptical. The Bank for International Settlements just put cryptoassets in the highest risk category, suggesting banks will need to hold a dollar in capital for […]

Bitcoin Slips Toward $30,000 as Strategists Flag Near-Term Risks – Bloomberg

by crypto journalist
Strategists are struggling to see a turnaround ahead for Bitcoin, at least for now, as the digital coin hovers around the $30,000 level. The near-term setup is “challenging,” a JPMorgan Chase & Co. team including Josh Younger and Veronica Mejia Bustamante wrote in a note Friday, while Fundstrat Global Advisors LLC’s David Grider recommended reducing risk or buying some protection. The JPMorgan team said blockchain data suggests recent cryptocurrency sales were made to cover losses and that “there is likely still an overhang of underwater positions which need to be cleared through the market.” Bitcoin has halved from a peak […]

Bitcoin Price Movements: Investment Options Without Holding Crypto – Bloomberg

by crypto journalist
The events of the past week have shown exactly why some people have been wary of investing in Bitcoin. One tweet from a billionaire and nearly 15% was wiped off the cryptocurrency’s value. Thankfully for some investors, there are other ways to make a bet on the future of cryptocurrency. Maybe you know nothing about Bitcoin, but you’re interested in the rise of cryptocurrencies. Or perhaps you know a lot about Bitcoin — and you don’t want to touch it, cautious about seemingly random price dips. Or you own Bitcoin already, and you’re looking to invest more broadly in the future of cryptocurrencies. […]

Jack Dorsey Says Square (SQ) May Build a Bitcoin Hardware Wallet – Bloomberg

by crypto journalist
Square Inc. Chief Executive Officer Jack Dorsey said the digital-payments company is considering building a Bitcoin hardware wallet, a device that holds the digital currency but isn’t connected to the internet. Hardware wallets are used by cryptocurrency investors who want an extra layer of protection from holding their coins on a web-enabled device. Wallets let crypto users hold coins and include a public and private key that acts as a blockchain address. Hackers have become adept at very sophisticated methods of stealing crypto that include taking over someone’s phone to access the private keys that are necessary to move Bitcoin, […]

Elon Musk Says Tesla Will Resume Accepting Bitcoin When Miners Confirm 50% Clean Energy Usage – News Bitcoin News

by crypto journalist
Elon Musk Says Tesla Will Resume Accepting Bitcoin When Miners Confirm 50% Clean Energy Usage Tesla CEO Elon Musk has announced that when there is “confirmation of reasonable (about 50%) clean energy usage by miners with positive future trend,” his electric car company will start accepting bitcoin for payments again. Elon Musk Reveals When Tesla Will Resume Accepting Bitcoin Tesla CEO Elon Musk talked about when Tesla will resume accepting bitcoin for payments Sunday. He wrote: When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions. Tesla began accepting […]

Elon Musk Discloses ‘Tesla Has Not Sold Any Bitcoin’

by crypto journalist
Amid speculation over the weekend that Tesla may have sold its bitcoins, CEO Elon Musk has clarified that the electric car company “has not sold any bitcoin.” The Technoking of Tesla got into a heated debate with the bitcoin community Sunday after he announced that Tesla has suspended accepting bitcoin for payments due to environmental concerns. Elon Musk Confirms Tesla Has Not Sold Its Bitcoins Tesla CEO Elon Musk got into a string of heated discussions with bitcoiners on Sunday which led to speculation that Musk’s electric car company may have sold its bitcoins or is planning to sell them […]

Hedgeye: This Model Predicts Bitcoin at $1,000,000

by crypto journalist
Analysts at Hedgeye Risk Management, an investment research and financial media company based in Stamford, Connecticut, have analyzed the Bitcoin stock-to-flow argument. This framework suggests Bitcoin’s price potentially reaching $1 million by the latter half of 2020s, and as much as $10 million per by the 2030s. “First they ignore you, Then they laugh at you, Then they fight you, Then you win” -Mahatma Gandhi At its recent peak, Bitcoin’s market cap hit $1.2 trillion. To give you some perspective, that’s bigger than the four largest banks in the United States combined (JP Morgan, Bank of America, Citi, Wells Fargo), […]

Bitcoin ($BTC USD) Cryptocurrency Price Barrels Into ‘Death Cross’ – Bloomberg

by crypto journalist
Amid Bitcoin’s decline this week, eagle-eyed chart-watchers noticed an ominous-sounding technical breach could be at hand: the coin is approaching a bearish pattern known as a death cross. The world’s largest digital currency has slumped, pushing its average price over the last 50 days close to its 200-day moving average. Should the short-term line cross below the long-term one, the coin would reach the forbidding formation. The indicator is typically seen as a closely-watched technical measure that could offer a hint at more pain to come. The last time Bitcoin marked a death cross, in March 2020, proved no impediment […]

Simplex Tie-Up With Kava Brings Fiat Directly to Defi – Finance Bitcoin News

by crypto journalist
Simplex Tie-Up With Kava Brings Fiat Directly to Defi As Kava works to expand its multi-asset defi platform’s appeal, the inclusion of Simplex’s fiat-to-crypto processing infrastructure will provide a fresh avenue for users to enter the defi ecosystem with fewer steps and conversions. New On-Ramp to Streamline Defi Accessibility and Participation As decentralized finance (defi) regains its footing following the May decline in total-value-locked (TVL) which mirrored the broader selloff in cryptocurrencies, the race is on to improve the overall approachability of this nascent space. This has led to a flood of investor funds entering the space to support protocols […]