Bitcoin

Bitcoin sinks below ,000 as crypto meltdown intensifies
World

Bitcoin sinks below $20,000 as crypto meltdown intensifies

Crypto investors are grappling with aggressive interest rate hikes from the U.S. Federal Reserve and a worsening liquidity crunch. Bloomberg | Bloomberg | Getty Images Bitcoin dropped below the $20,000 mark on Saturday, extending a brutal slide in cryptocurrencies. The price of bitcoin fell 9% in 24 hours to $19,217.81, according to Coin Metrics data. […]

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This fund may be an attractive move for investors in volatile, inflationary markets, Amplify ETFs CEO says
Finance

This fund may be an attractive move for investors in volatile, inflationary markets, Amplify ETFs CEO says

Investors may want to consider a special fund focused on high dividend yielding large-caps, according to a leading ETF fund manager. Christian Magoon believes his firm’s actively managed Amplify CWP Enhanced Dividend Income ETF (DIVO) will provide upside to investors during this volatile and inflationary market backdrop. It’s described as an enhanced dividend income ETF […]

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Bitcoin sees slight rebound after nearly falling below ,000, but it’s still at late 2020 levels
Technology

Bitcoin sees slight rebound after nearly falling below $20,000, but it’s still at late 2020 levels

Bitcoin has been closely correlated with stock indexes, in particular the Nasdaq, which rose on Wednesday after the U.S. Federal Reserve hiked interest rates by 0.75 percentage point. That’s one reason why bitcoin rose slightly on Thursday. STR | NurPhoto via Getty Images Bitcoin rose on Thursday following a similar jump in U.S. stocks, but […]

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Bitcoin came close to falling below ,000 as investors continue to flee cryptocurrencies
Technology

Bitcoin came close to falling below $20,000 as investors continue to flee cryptocurrencies

Bitcoin and and other cryptocurrencies are in free fall. Dan Kitwood | Getty Images The sell-off in cryptocurrencies deepened even further on Wednesday, with bitcoin sinking very close to the key level of $20,000. Bitcoin plunged as much as 10% to an intraday low of $20,166, according to Coinbase data. It was last trading at […]

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Bill Gates says crypto and NFTs are ‘100% based on greater fool theory’
Technology

Bill Gates says crypto and NFTs are ‘100% based on greater fool theory’

Bill Gates Gerard Miller | CNBC Bill Gates is not a fan of cryptocurrencies or non-fungible tokens. Speaking at a TechCrunch talk on climate change Tuesday, the billionaire Microsoft co-founder described the phenomenon as something that’s “100% based on greater fool theory,” referring to the idea that overvalued assets will go up in price when […]

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MicroStrategy denies it received a margin call against its bitcoin-backed loan, report says
World

MicroStrategy denies it received a margin call against its bitcoin-backed loan, report says

Software company MicroStrategy has not received a margin call against its loan from crypto-focused bank Silvergate, Reuters reported on Wednesday. Valerie Plesch | Bloomberg | Getty Images Aggressive bitcoin investor and American software firm MicroStrategy says it hasn’t received a margin call against a $205 million bitcoin-backed loan it took in March, according to a […]

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Investors worry another possible crypto collapse will bring down other key players
World

Investors worry another possible crypto collapse will bring down other key players

Cryptocurrencies have taken a tumble in 2022. Chesnot | Getty Images A liquidity crisis at cryptocurrency lending firm Celsius has investors worried about a broader contagion that could bring down other major players in the market. Celsius recently moved to pause all account withdrawals, sparking fears that it may be about to go bust. The […]

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Coinbase lays off 18% of workforce as executives prepare for recession and ‘crypto winter’
World

Coinbase lays off 18% of workforce as executives prepare for recession and ‘crypto winter’

Coinbase Founder and CEO Brian Armstrong attends Consensus 2019 at the Hilton Midtown on May 15, 2019 in New York City. Steven Ferdman | Getty Images Coinbase is laying off almost a fifth of its workforce amid a collapse in its stock and crypto prices. The cryptocurrency exchange will cut 18% of full-time jobs, according […]

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Bitcoin’s plunge spells trouble for the dot-com era entrepreneur who went all in
Finance

Bitcoin’s plunge spells trouble for the dot-com era entrepreneur who went all in

Michael Saylor, chairman and chief executive officer of MicroStrategy, first got into bitcoin in 2020, when he decided to start adding the cryptocurrency to MicroStrategy’s balance sheet as part of an unorthodox treasury management strategy. Eva Marie Uzcategui | Bloomberg | Getty Images Having once lost $6 billion at the height of the dotcom bubble, […]

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The crypto industry just had one of its worst days ever — Here’s what happened
World

The crypto industry just had one of its worst days ever — Here’s what happened

Bitcoin and other cryptocurrencies fell sharply as investors dump risk assets. A crypto lending company called Celsius is pausing withdrawals for its customers, sparking fears of contagion into the broader market. Nurphoto | Nurphoto | Getty Images Crypto has had a brutal first half of 2022, but few days have been this bad for the […]

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