Bitcoin

Despite the bear market, Michael Saylor still believes Bitcoin is virtually guaranteed to reach a one million dollar price tag. He thinks that Bitcoin has already “crossed the chasm” of answering the two most critical questions surrounding it, making its success inevitable. Bitcoin is Really Happening In an interview with CNBC’s Squawk Box on Tuesday, the MicroStrategy CEO was challenged on his bullish Bitcoin thesis. The interviewer posited that Bitcoin’s regulation and “maturity” could see significant “flush cash” and “leveraged…

An analyst for Bespoke Investment Group has discovered that Bitcoin trades better outside of stock market trading hours. Nearly all of the coin’s gains since the pandemic started have occurred after equity markets had closed. Speaking with Bloomberg News, Jake Gordon from Bespoke outlined a strategy that would have yielded 270% gains since early 2020. It involves simply buying Bitcoin at the equity market close (4 pm) and selling at the next day’s open (9:30 am). Unlike traditional markets, crypto…

Jack Dorsey’s financial company Block has unveiled a survey from January examining top reasons that people don’t buy Bitcoin. The top reason, cited by 51% of respondents, was that they simply don’t understand it well enough. Conducted in partnership with Wakefield Research, the study surveyed 9500 people across 14 different countries. Besides the lack of knowledge, other common reasons for avoiding Bitcoin included cybersecurity risks (32%) and price volatility (30%). Among those that refused to buy Bitcoin despite sufficient knowledge,…

MicroStrategy still doesn’t plan to sell its Bitcoin, according to the company’s new Chief Financial Officer Andrew Kang. The recent bear market, which has brought Bitcoin’s value below the company’s average purchase price, hasn’t shaken the organization’s faith. “At this time, we do not have any intention to sell,” said the CFO, after joining the company on May 9th hailing from GreenSky. “There are no scenarios that I’m aware [in which] we would sell.” Shareholders also remain confident and reportedly…

Rostin Behnam – chairman of the Commodities and Futures Trading Commission – is not happy with Bitcoin’s current levels of energy consumption. He believes regulators should establish incentives to push the network towards a proof of stake (POS) consensus model. Not Worth the Energy, says Benham Speaking at POLITICO’s Sustainability Summit, Benham claimed that Bitcoin’s energy consumption doesn’t match its economic output. “That may rebalance over time, but right now it’s clearly skewed,” he said. Most of Bitcoin’s energy consumption…

The Bitcoin/ Crypto Fear and Greed Index today shows the most bearish crypto market sentiment since March 2020. The index started showing “extreme fear” across the market last week. Bitcoin collapsed below $30,000 for the first time since July, while the UST stablecoin fell apart. Today, the index reflects a single-digit score of only 8. That’s the lowest number since March 28th, 2020, when it collapsed to the same level due to covid lockdown fears. By contrast, March 28th, 2022…

Nearly a year since the Chinese government initiated a nationwide crackdown on BTC mining, the nation is again a thriving center for mining operations. Albeit this time, secretly. The Cambridge Digital Assets Program (CDAP) provided this information in their latest research.  China Hosts One-Fifth of the Global BTC Hash Rate The CDAP revealed that underground miners within China are responsible for about 21% of the total Bitcoin hash rate globally. Before the ban, the East Asian nation had been the…

American multinational investment bank Goldman Sachs and British bank Barclays have invested in crypto trading platform Elwood Technologies. Elwood Technologies unveiled this news earlier today through a press release. The banks joined other renowned investors to raise $70 million in the company’s Series A funding round. According to the press release, Goldman Sachs co-led the funding round alongside Dawn Capital. The list of investors in the funding round featured both traditional financial institutions and digital asset companies. These include BlockFi…

Legendary value investor Bill Miller has HODL’d through Bitcoin’s recent crash despite it reaching price lows unseen since December of 2020. The investor maintains that Bitcoin is fundamentally different from all other cryptocurrencies and that it lacks true competition. Bitcoin Above All for Bill Miller In an interview with CNBC on Thursday, Miller said that Bitcoin has correlated with different multiple metrics throughout the years. He currently sees it correlated with “risk-on, risk-off”, an investment setting when price behavior swings…