Mike Novogratz, the CEO of Galaxy Digital and bitcoin bull has warned that the United States’ failure to have its own digital currency could be an “existential crisis.” However, the CEO says the country’s fate is still in its hands. Novogratz made these comments a few days after former U.S. Secretary of State, Mike Pompeo suggested that the United States is not going to have a digital dollar anytime soon.
When you get on the Bitcoin train you know you are in for a wild ride, with the price dipping and soaring so fast it’s hard to keep up. One thing is certain however, the overall value of Bitcoin is rising year-on-year at an incredible rate. Since the start of the pandemic the price has skyrocketed from just 7,200 USD in January last year, to its current price of near to 60,000 USD, although with some heart-stopping drops and recoveries in price along the way. BTC is clearly a great investment, but there is undoubtedly a high level of risk and uncertainty, so it is critical to mitigate your exposure and the best way to do this is with an automated platform.
The impact of BTC mining on the environment has turned into a debate — here’s what academics think and if “green Bitcoin” is possible.
In the past, much of the Bitcoin community was taken to declaring, “Long bitcoin, short the bankers.” But now that the likes of Goldman Sachs, Morgan Stanley, BNY Mellon, State Street, Deutsche Bank and others are entering the crypto space, is it now to long banks as well as BTC？
For China, however, it seems these goals might be in jeopardy because of bitcoin. According to a recent study, the rate of bitcoin mining in China is very carbon-intensive, so much so that it could be counter-productive to current sustainability goals.
Boyapati concluded that "it's important to understand that when the next leg up for bitcoin begins, it is simply because bitcoin is in a massive secular bull market. It is a false narrative to believe Coinbase is driving bitcoin higher."
Tom Jessop, head of Fidelity Digital Assets, argues that "easy-money policies" are driving investors to Bitcoin and other alternative assets.
When we get a risk-off moment, we could be seeing Bitcoin pull back to somewhere between $20,000 and $30,000 dollars. Minerd adds that these levels would be good entry points for long-term investors.
In his annual letter to his shareholders, J.P. Morgan Chairman and CEO Jamie Dimon addressed the status of regulations towards Bitcoin and cryptocurrencies in the United States. At the beginning of the letter, Dimon calls 2020 a “strong” year for the banking institution in spite of the pandemic Covid-19.
Goldman Sachs CEO David Soloman has forecast a big evolution in how the U.S. government regulates cryptocurrency.
It’s been a season of legal ambiguity for the Indian cryptocurrency community, but the road ahead is looking less hazy as the latest development from the Indian Crypto trading scenes implies that the proposed Crypto-ban has done little to dissuade trading and investment interest in independent digital currencies like Bitcoin and Ethereum. Hence, a building possibility that the ban is likely to fail.
Irish police are on high alert due to the rising number of cases related to a bitcoin-related scam targeting high-net-worth people in the country. The situation has become worrisome because suspicious high-value transactions have already been noticed by authorities.
According to an infographic shared by Documenting Bitcoin, Bitcoin (BTC) market capitalization at current prices is more than the total gross domestic product of Mexico. It should be noted that Mexico has the second-largest economy in Latin America.
All and all, the second quarter is about both a technical downside correction and a further institutional boost. Inflation is one of the primary drivers for Bitcoin moving forward.
No hint of bearish traditions returning to Bitcoin markets this year as 2021 bucks the trend for March to bring serious downside. Will Q2 deliver on expectations?
Overall, hedging against inflation may be yet another key reason why companies are holding. As masses look for different methods for wealth preservation, it comes as no surprise that Bitcoin is top of the list for institutions, investors, and commercial outlets.
Bitcoin has a tendency to show up the weakness of governments in the face of technology. This is nowhere more true than in India.
Bitcoin is not liked by everyone from the Island Council of Tenerife, Spain. At least that’s what was suggested by its president, Pedro Martín, who ordered the sale of the local government’s investment in cryptocurrency.
A New Zealand hedge fund, NZ Funds Management, which had $350 million worth of assets under management at the end of December 2020, says five percent of its money is invested in bitcoin. According to the firm’s CIO James Grigor, bitcoin is also set to be featured in more of its Kiwisaver investment schemes within the next five years.
Although Stanley Druckenmiller, Paul Tudor Jones are a few of the Baby Boomers who are Bitcoin’s biggest investors, a sizable number have asserted that Bitcoin is just not doing it for them.