Category: Markets and Prices
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Elon Musk Changes Twitter Profile to Bitcoin, Tweets ‘It Was Inevitable’ — BTC Price Skyrockets
Elon Musk has changed his Twitter profile to just “#bitcoin.” The Spacex and Tesla CEO also tweeted, “In retrospect, it was inevitable.” The price of bitcoin immediately soared. Elon Musk’s Bitcoin Twitter Profile and Tweets Spacex and Tesla CEO Elon Musk changed his Twitter profile to “#bitcoin” on Friday morning. He also made a cryptic…
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Wall Street “Perma Bear” Predicts Stock Market Crash: Says Bitcoin Cannot Be Ignored as He Touts Gold
Long term Wall Street bear and bitcoin holder, David Tice predicts that the stock market will crash fall by 30% in a retreat that will persist for two years. Although the veteran investor is not giving the specific commencement date for this downturn, he warns that when it breaks, “it’s likely to break hard and…
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JP Morgan Gives 3 Reasons to Add Bitcoin to Investment Portfolios
JP Morgan has outlined three key reasons why investors should add bitcoin to their investment portfolios. Small allocations to cryptocurrencies would “improve portfolio efficiency due to high returns and moderate correlations,” JPMorgan’s analyst explained. JP Morgan Sees Benefits of Hedging With Bitcoin JPMorgan released a report last week entitled “What cryptocurrencies have and haven’t done…
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Should I Buy Bitcoin? — Switzerland’s Largest Bank UBS Provides Guidance on BTC Investing
Switzerland’s largest bank, UBS, has published guidance for clients about investing in bitcoin. The bank answers some important questions, such as whether one should buy bitcoin and other cryptocurrencies and whether bitcoin can be used to diversify portfolios. ‘Should I buy’ Bitcoin? UBS Answers UBS published a detailed report about bitcoin last week. It answers…
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Bitcoin Whales Grow After Price Bottoms, Analyst Says ‘Coins Are Moving to Very Strong Holders’
While the price of bitcoin has been consolidating just above the $30k handle, onchain data shows that when the price dropped to $28,800, bitcoin whales bought the dip. Statics from Glassnode’s web portal shows the number of addresses with more than 1,000 bitcoin has spiked after hitting the price bottom. The Number of Addresses Holding…
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Premium on Grayscale’s GBTC Drops as Reports of New Trusts Emerge: Chinese Crypto Community Unhappy
Following the recent bitcoin price pullback, the latest Skew data now indicates that the premium rate on Grayscale’s GBTC is under 10%. The lower rate comes just weeks after the premium peaked at 41% towards the end of December. The GBTC premium is a measure of the extent of differences in the value between the…
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Bitcoin Seen as the Largest Bubble but ‘Tesla More Vulnerable’ — Deutsche Bank Survey
Deutsche Bank has conducted a survey about financial bubbles. Eighty-nine percent of respondents see some bubbles in financial markets, with bitcoin near the “extreme bubble” territory. However, more respondents expect the cryptocurrency to double than they do Tesla’s stock. Deutsche Bank’s Bubble Survey A survey published Tuesday by Deutsche Bank asked 627 market professionals to…
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Buying the Dip: Multibillion-Dollar Microstrategy Invests $10 Million More in Bitcoin
Nasdaq-listed multibillion-dollar company Microstrategy has purchased more bitcoins. With the latest buy of the cryptocurrency worth $10 million, the company now holds 70,784 bitcoins in its treasury. Microstrategy’s Bitcoin Holdings Rise to 70,784 The Nasdaq-listed Microstrategy (NASDAQ: MSTR), with over $5 billion in market cap, has bought 314 more bitcoins. CEO Michael Saylor announced Friday:…
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Crypto Economy Shaves $100 Billion, Digital Asset Markets Recover Some Losses
Digital currency markets have dropped in value during the last two days as more than $100 billion was shaved off the entire crypto market valuation. Bitcoin slid to the lowest point of the year at $28,800 per unit on Thursday afternoon, and a number of other crypto-assets saw significant losses as well. Currently, as digital…
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Multibillion Dollar Fund Manager Ruffer Sees Long Trend of Institutional Bitcoin Adoption
British investment management firm Ruffer has revealed that its bitcoin holdings now account for about 3% of its entire portfolio of approximately $29 billion. The firm believes that we are “at the foothills of a long trend of institutional adoption and financialization of bitcoin.” A Long Trend of Institutional Bitcoin Adoption Ruffer provided an update…