Bitcoin

Blackrock Executive Says Gold Now Less Effective Hedge Against Inflation

March 13th, 2021

A portfolio manager and member of Blackrock’s Global Allocation Fund says gold is now a less effective hedge against inflation as well as moves in other assets such as stocks. In comments that appear to undercut the precious metal’s renowned status, Russ Koesterich claims that “gold’s ability to hedge against inflation has been somewhat exaggerated.”…

Bitcoin has Gained Over 1200 percent A Year Since the Covid Crash of March 12,2020

March 13th, 2021

It’s been exactly a year since Bitcoin (BTC) faced one of the biggest crashes in its history plummeting 50% on this very same day March 12, 2020. The COVID-19 pandemic fears sent jitters across the global stock markets as well as the crypto market. Following it, Bitcoin (BTC) touched an hourly low of $4,130 on…

Old School Bitcoin Whales Are Moving: This Week a Single Entity Transferred 10,000 BTC Acquired in 2013

March 12th, 2021

While bitcoin’s price has neared the all-time price highs captured in February, old coins that have sat idle for many years have started to wake up from slumber. On March 4, at block height 673,162, a block reward worth 50 bitcoin from 2010 was transferred for the first time in over a decade. Also, a…

Major Israeli Investment House Invested $100 Million in the Grayscale Bitcoin Trust Fund in December 2020

March 12th, 2021

One of the biggest asset managers in Israel allocated millions of dollars into the shares of Grayscale’s Bitcoin Trust (GBTC). Altshuler Shaham is now gaining exposure to bitcoin by investing $100 million in shares, according to a local media outlet. Altshuler Shaham Currently Holds $150M Worth in BTC Per Globes Israel, the multi-million-dollar investment yielded…

Bitcoin closes in on the all-time high as $60,000 beckons

March 11th, 2021

Bitcoin has drawn much closer to $58,000 after slicing through 56,000. The flagship cryptocurrency’s uptrend is mainly fueled by speculation that it will hit a new all-time high again. At the time of writing, BTC is trading at $56,260 amid the push for higher levels. Higher support has been established at $54,000, assisting in sustaining…

JP Morgan Launching Crypto Investment Product Tracking Public Company Stocks With Bitcoin Exposure

March 10th, 2021

JP Morgan is launching a structured investment product based on the performance of its “Cryptocurrency Exposure Basket,” which tracks stocks of publicly traded companies with exposure to cryptocurrencies. The weight of each stock is “determined based in part on exposure to bitcoin, correlation to bitcoin and liquidity,” according to the company’s filing with the U.S….

Ark Investment CEO Says Bitcoin Will Resemble Bonds As Part of Balanced Portfolio

March 10th, 2021

Cathie Wood, the CEO of Ark Investments recently said that Bitcoin (BTC) will soon become an integral part of a “balanced portfolio” in addition to stocks and bonds. Furthermore, in a bold statement, Wood added that cryptocurrencies could stabilize very soon and eventually behave like bonds. Speaking at CNBC’s “Closing Bell” Wood added: We think…

CI Galaxy Bitcoin ETF Gets A Nod From Canadian regulators, Will Launch at TSX on 9th March

March 8th, 2021

Canada’s leading financial giant CI Global Asset Management stated that Canadian securities regulator has given a nod for the final prospectors of the CI Galaxy Bitcoin ETF (BTCX). This new Bitcoin ETF launched in partnership with Mike Novogratz’s Galaxy Digital shall start trading on the Toronto Stock Exchange (TSX) starting Tuesday, March 9. The goal…

Critics Claim Tesla Should Sell Bitcoin Position, Electric Vehicle Firm’s Shares Down 30 percent Since Buying

March 8th, 2021

Ever since Tesla announced the company held $1.5 billion in bitcoin on its balance sheet during the first week of February, the company’s stocks have dropped over 30%. One analyst says that Tesla’s shareholders would be “very supportive” if the company announced it would sell the bitcoin. Additionally, the shares of Microstrategy’s firm have also…

Satoshi’s 21 Million Mystery: One-Millionth of the Bitcoin Supply Cap Is Now Worth $1 Million

March 7th, 2021

On Sunday, March 7, 2021, the price per bitcoin jumped over the $50k handle once again, as the digital asset’s overall market capitalization is around $925 billion. One thing is for certain, there will never be more than 21 million bitcoin and today there’s roughly 18,647,525 bitcoin in circulation. Interestingly, anyone who owns 21 bitcoin…