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Celebrities and athletes aren’t the only ones aping into the NFT game. Digital assets are now part of political strategy. Two US congressional candidates have taken to selling NFTs to raise funds for their midterm election campaigns. The campaigners using this strategy cross party lines, though positive attitudes towards crypto among current congresspeople do not. Selling NFTs Like MAGA Hats As reported by Bloomberg, the strategy is currently being used by California Democrat Shrina Kurani, and Arizona Republican Blake Masters.…

It looks like Michael Saylor isn’t the only billionaire to make Bitcoin his premier asset holding. Bill Miller – top investor and former chairman of Legg Mason Capital Management – recently revealed that Bitcoin comprises half of his portfolio. He recommended that other investors become at least 1% allocated to the asset, calling it “insurance against financial catastrophe.” Miller’s Growing Bitcoin Position Miller revealed his Bitcoin position in an interview with Wealthtrack on Friday. In explaining his lack of diversification,…

It's been a lousy week for Bitcoin. First, the largest crypto dipped below $40,000 as crypto markets lost $1 trillion in market cap. Technical indicators are not looking good either. Bitcoin metrics are approaching the so-called "death cross." The ominously named technical indicator triggers BTC's 50-day moving average fell below the 200-day moving average. Typically, the indicator signals an even more bearish turn for the asset. It is usually a signal that investor sentiment has shifted lower in traditional markets.…

Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The Crypto Market ends the week at a total market capitalization of $1,973 trillion. Bitcoin is down by almost 12% and trading just above $42,000. Ethereum is down by roughly 18% after a terrible week. XRP dropped by almost 13% over the past seven days. Most altcoins are trading in the red, with very few exceptions. The DeFi sector lost over $7 billion from the Total…

December of 2021 wasn’t kind to crypto, and it shows on the derivative markets. ProShares Bitcoin Strategy ETF – the first Bitcoin ETF to arrive in the United States – is now one of history's worst-performing issuers two months after listing. This is despite a euphoric start, during which the fund was the NYSE’s second most excellent opening-day performer of all time. Bullish Opening, Bearish Aftermath As reported by Bloomberg, BITO ranked as a top ten worst performing issuer when…

Dirk Klee – former wealth manager at Barclays Wealth – has left the company to assume leadership at Bitcoin Suisse. His new position takes effect on April 1st, 2022, succeeding Dr Arthur Vayloyan, a board member. Financial Services and Crypto Bitcoin Suisse revealed the new appointment in a statement on Friday. Klee was CEO of Wealth Management and Investments for three and a half years and had two decades of experience in similar roles. These include positions as COO of…

As Kazakhstan is in turmoil, crypto mining has come to a standstill. Yet, Kazakhstan's crypto miners are not planning to leave the country just yet. BIT Mining, a large mining company in Kazakhstan, is still evaluating the situation in the country. However, they don't believe they will have to evacuate just yet. It is unlikely that our mining machines will be evacuated to North America Mining came to a standstill in the country after authorities shut down the internet amid…

The modern fashion industry is rapidly discovering the massive potential of the NFT marker to boost the sector’s revenues. From luxury brands such as Dolce & Gabbana to sporting clothing, blockchain technology leads to new business models. This article will discuss Adidas, the latest multinational clothing company to join the NFT market. After reminding readers about the NFT concept, we will analyze Adidas's choice and place it in a broader market context. The popularity of NFTS An NFT (non-fungible token)…

With Bitcoin now under $45k support that it held for weeks, market sentiment is in the gutter. However, Mike Novogratz thinks the price will bottom out soon within the $38k to $40k range. He believes institutions are likely interested in buying the dip within that range. Institutions and Inflation Novogratz expressed his current view of the market in conversation with CNBC’s Squawk Box on Thursday. He said that he knows “big institutions” that are preparing to put positions on Bitcoin,…