Tag Archives: Bitcoin

As detailed in a broad SEC filing this week, Tesla gave investors an update on its Bitcoin holdings. Parsing through the disclosure, it boils down to this: Tesla bought around $1.5 billion in bitcoin (BTC-USD) in the early part of 2021; realized a gain of $128 million on a sale of some of its stake earlier in 2021; has now taken a $101 million impairment on the holding as bitcoin’s value has diminished; and currently Tesla’s bitcoin stake has a market value of nearly $2 billion, and a ‘carrying… Source link

Bitcoin’s (BTC-USD) arrival into the mainstream has seen companies like Microstrategy (MSTR), Block (SQ) and Tesla (TSLA) add the digital coin to their balance sheets — and spawned a new class of investors drawing all or part of their salaries in cryptocurrency. But with Bitcoin slumping by nearly half since hitting a November high under $69,000 in the midst of crypto’s grim winter, the strategy is not without risk — especially for companies bound by strict corporate accounting rules that… Source link

Jeff Fenster, Everbowl CEO and Founder Jeff Fenster, Everbowl CEO and Founder Jeff Fenster, Everbowl CEO and Founder SAN DIEGO, Feb. 04, 2022 (GLOBE NEWSWIRE) — California-based, craft superfood chain, Everbowl™ (https://www.everbowl.com), will now run its business operations off the Bitcoin Standard and is converting cash reserves to Bitcoin. As Founder and CEO, Jeff Fenster explains, “We’ve concluded that running the business exclusively on cash isn’t the most advantageous, nor the safest,… Source link

Feeling down that bitcoin prices are well off their all-time highs? Don’t be, says bitcoin bull and MicroStrategy CEO Michael Saylor. “My time horizon is a decade or more,” Saylor said on Yahoo Finance Live. And Saylor is putting his money where his mouth is on bitcoin. MicroStrategy disclosed this week it purchased 660 bitcoin for about $25 million between Dec. 30, 2021 and Jan. 31, 2022. The average price per coin tallied $37,865. The company now holds 125,051 bitcoins valued at about $4.8… Source link

Bitcoin bull Michael Saylor says Meta should have stayed around longer in the crypto space. “The mistake [they made] was not getting into the crypto space. They wasted many, many years of their time with the project they invested in,” the MicroStrategy CEO and founder said on Yahoo Finance Live. This week, Diem — Facebook’s one-time crypto venture — said it sold its assets and intellectual property to crypto bank Silvergate Capital. Sale price: $182 million. The sale effectively ends… Source link

Cryptocurrencies lost momentum on Thursday, tumbling sharply after the outcome of the Federal Reserve’s Wednesday Open Markets Committee meeting gave digital coins a fleeting boost. After briefly appearing to decouple from risk-sensitive stocks, Bitcoin (BTC-USD), Ethereum (ETH-USD) and its crypto cohorts ended Wednesday’s whipsaw session in the red, along with Wall Street. The reversal signaled the correlation with equities was not likely to end anytime soon, especially with the Fed poised… Source link

The new year has been upon us for less than a month, but the Great Crypto Crash of 2022 has already caused a lot of investors pain. The risk aversion dogging Wall Street has infected cryptocurrencies, resulting in a dramatic sell-off in digital coins that yanked Bitcoin (BTC-USD) below $34,000. While the token recouped some of those losses, most analysts think there’s more downside left to probe, especially with crypto’s growing correlation with other risk-on assets. Like stocks, Bitcoin’s… Source link

Last November, when cryptocurrency was skyrocketing to new heights and Bitcoin was one of the red-hot financial vehicles of 2021, the mobile payment service Cash App grabbed some trending headlines through partnerships with two headlining NFL names: Green Bay Packers quarterback Aaron Rodgers and Los Angeles Rams wideout Odell Beckham Jr. The significance: Both players endorsed Bitcoin and announced plans to take portions of their 2021 salaries in the cryptocurrency during a month when… Source link

El Salvador President Nayib Bukele during the Latin Bitcoin conference on November 20, 2021.Marvin Recinos/AFP via Getty Images El Salvador has bought 410 bitcoin for $15 million, the country’s President Nayib Bukele tweeted Friday. “Some guys are selling really cheap,” he wrote, as crypto continued to sell off. Bitcoin has plummeted over the last week and is down almost 50% from its November record high. El Salvador purchased 410 bitcoin worth $15 million as the cryptocurrency’s price plunged,… Source link

(Bloomberg Law) — MicroStrategy Inc. can’t strip out Bitcoin’s wild swings from the unofficial accounting measures it touts to investors, the SEC said. Most Read from Bloomberg Bad news for the MicroStrategy was compounded as the company’s shares fell as much as 20% Friday, the biggest intraday collapse since Feb. 23. Its stock closed at $375.89, down nearly 18%. Bitcoin also tumbled, and was down more than 7% around 4:15 p.m. in New York. The enterprise software maker, which said in… Source link