The rise in the price of Bitcoin, coupled with Coinbase’s IPO debut (which valued the company at ~$85 billion), has helped legitimize Bitcoin and cryptocurrency in the eyes of many doubters and skeptics.
Not among banks, however.
A Cornerstone Advisors survey of senior bank and credit union executives found that eight in 10 financial institutions have no interest in offering cryptocurrency investing services to their customers — and just 2% said they were “very” interested.
Banks and credit unions appear to be unaware of consumer trends and attitudes regarding cryptocurrency. …
The rise of Bitcoin, Coinbase, and the like is becoming harder to ignore.
It is going to become part of the mainstream of finance.
Innovation always wins.
It is only a matter of time before cryptocurrencies take over.
With Bitcoin, Etehrium, and Dogecoin as well as other cryptocurrencies raising new highs the odds are all in their favor.
Of course, some might say this is a bubble.
That is hardly the case currently.
I remember investing in December before the halving.
I have officially made it three times my initial investment.
Of course with taxes included my “profit”…
Bitcoin had surged six percent to a new all-time high of $US64,325 ($83,931) this afternoon after spending a month moving sideways, and nearly every other cryptocurrency was soaring alongside it.
Ethereum, Chainlink, Dogecoin, THORChain, XDC, Cardano (ADA), and FTX Token had all smashed through their all-time records around 3 pm AEDT, ahead of Coinbase’s direct NASDAQ listing in the overnight hours.
“Coinbase is going to blow people’s minds,” said Matt Hougan, chief investment officer at Bitwise Asset Management, which pioneered the first cryptocurrency index fund. “I think it’s going to force traditional finance to wrestle with the phenomenal growth that is taking place in crypto.”
It’s not hard to understand why.
Coinbase is likely the biggest beneficiary of the cryptocurrency revival.
It had 56 million verified users, with $1.8 billion in revenues in the first quarter alone, and a value that could be anywhere from $50 billion to $100 billion.
That is an extraordinary valuation for an exchange of any type…
This is going to end out well.
On talk of reduced supply, Bitcoin (BTC) nearly hit a new high Saturday, surging over $60,000 for the first time in almost a month.
The price of the cryptocurrency reached $60,588.47, short of its all-time high of $61,712 from mid-March. In recent weeks, its price has vacillated in the $50,000s. The new gain put Bitcoin up about 116% from its low of $27,734 on Jan. 4, 2021.
The surge comes about a month after President Joe Biden signed the $1.9 trillion stimulus bill.
Justin d’Anethan, sales manager at Diginex in Hong Kong, broke down the reasoning behind the sudden Bitcoin…
Bitcoin has soared so far this year, climbing to a price of around $60,000 and helping the broader cryptocurrency market hit an eye-watering $2 trillion.
The bitcoin price has soared by around 400% since its latest bull run began as long-awaited institutional adoption started to materialize and Tesla billionaire Elon Musk whipped the crypto market into a frenzy.
Now, with many bitcoin and crypto analysts trying to call where the market top will be, a Bloomberg analyst has predicted the bitcoin price could hit $400,000 this year — even as Musk seems more interested in “joke” bitcoin rival dogecoin.
Bitcoin mining in China is so carbon-intensive that it could threaten the country’s emissions reduction targets, according to new research.
China wants its emissions to peak in 2030 and has plans to be carbon neutral by 2060.
The cryptocurrency’s carbon footprint is as large as one of China’s ten largest cities, the study found.
China accounts for more than 75% of bitcoin mining around the world, researchers said.
The study was written by academics from the University of the Chinese Academy of Sciences, Tsinghua University, Cornell University, and the University of Surrey. …
Goldman Sachs CEO David Solomon has said he expects a major transformation in how the US government regulates bitcoin and other digital assets.
“I think there’ll be a big evolution as to how this evolves in the coming years,” he said on CNBC’s “Squawk Box” on Tuesday.
“I’m not going to…
O’Leary said personally, he’s working to ensure every coin he owns is compliant.
“I’m not buying coin unless I know where it was mined, when it was mined, the provenance of it,” he said. “Not in China. No blood coin for me.”