Tag Archives: Bitcoin

Cathie Wood’s $500K Bitcoin call is already happening — how to ride the wave to half a million Cathie Wood isn’t afraid to make bold predictions. Back in early 2018, the owner of Ark Invest said Tesla shares would go from $300 to $4,000 within five years — a potential upside of around 1,200%. Yet Tesla hit the target early. This January, Tesla shares surged past the $800 mark, or $4,000 on a split-adjusted basis. Pretty astounding, but Tesla may not be Wood’s most bullish call at the… Source link

The hot demand for investment securities linked to bitcoin does not appear to be moving the U.S. Securities and Exchange Commission’s stance toward other products more directly linked to the cryptocurrency. SEC Chair Gary Gensler said he still has concerns about investor protection in the $2.5 trillion market for crypto assets. “Investors aren’t protected the way they are, whether they go into the stock or bonds markets that we’ve overseen so long,” said Gensler at Yahoo Finance’s… Source link

Cryptocurrency lending company BlockFi is partnering with investment manager Neuberger Berman to launch a series of crypto investment products, like exchange-traded funds (ETFs), which are taking the digital currency market by storm. Only weeks ago, BlockFi filed with the Securities and Exchange Commission to list its “BlockFi Bitcoin Strategy ETF,” which kicks off a 75-day regulatory approval process. As proposed, the fund will hold Bitcoin (BTC-USD) futures contracts, similar to ETFs… Source link

A milestone week that began with the introduction of the first Bitcoin-based exchange traded fund (ETF) ended just as it began — with a new fund based on the world’s leading cryptocurrency.  On Friday, digital asset manager Valkyrie launched its Bitcoin Strategy ETF (BTF) on the Nasdaq exchange. The company anticipates its fund will be the first of at least a couple more, as big and small investors flock to crypto investments. Valkyrie’s Bitcoin ETF followed the debut of the Proshares… Source link

(Bloomberg) — Just days after launch, the first U.S. Bitcoin futures exchange-traded fund risks becoming too popular for its own good. Most Read from Bloomberg The Proshares Bitcoin Strategy ETF (ticker BITO) is already on track to breach a limit on the number of futures contracts it is permitted to hold by the Chicago Mercantile Exchange, according to data compiled by Bloomberg. After two days trading BITO owns nearly 1,900 contracts for October, and CME rules cap the number of front-month… Source link

(Bloomberg) — Optimism about digital assets stoked by Bitcoin’s run to a record high has helped push the overall value of cryptocurrencies to an all-time peak of more than $2.7 trillion. Most Read from Bloomberg That’s a climb of about $200 billion from the last high in May for a sector that now spans almost 10,000 coins, according to data from tracker CoinGecko. The ascent shows how bets on cryptos are spreading beyond Bitcoin amid enthusiasm about more mainstream adoption of digital… Source link

Bitcoin sits above $64,000 on Tuesday, zeroing in on a record high as excitement over its first exchange-traded fund (ETF) — and another soon to come — reached a fever pitch. As the largest cryptocurrency by market capitalization rallied by over 4% on the day, The Proshares Bitcoin Strategy ETF (BITO) launched on the the New York Stock Exchange (NYSE) — the first ever BTC (BTC) related fund available to U.S. investors. While some market participants have questioned the utility of the… Source link

(Bloomberg) — Grayscale Investments LLC and the New York Stock Exchange filed to convert the world’s biggest Bitcoin fund into an ETF, appealing to regulators for approval just as its wildly popular vehicle is beset with competition. Most Read from Bloomberg The application to flip the $40 billion Grayscale Bitcoin Trust (ticker GBTC) landed on the same day that the ProShares Bitcoin Strategy ETF (BITO) debuted, becoming the first exchange-traded fund in the U.S. investing in futures on the… Source link

The U.S. now leads the world in Bitcoin mining, according to data from the Cambridge Bitcoin Electricity Consumption Index (CBECI), which tracks Bitcoin’s energy consumption by geography. According to data added to the index, the United States currently makes up 42.7% of the Bitcoin network’s “hashrate,” a metric unit that measures how much power the Bitcoin network consumes. Up 14%, the growth in America’s hashrate — also known as hashpower — reflects the changing geopolitical… Source link

JPMorgan CEO Jamie Dimon said recently bitcoin is worthless. Morgan Stanley CEO James Gorman said Thursday crypto isn’t a fad, but isn’t sure on the outlook for prices.  Jurrien Timmer, Fidelity’s director of global macro, is more clear-minded on the direction for bitcoin: $100,000 by 2023.  “So this move up [in bitcoin] has come without the help of momentum chasers, which I think is a good sign because it means there is something else making bitcoin go up. And, that is fundamental demand… Source link