Tag Archives: Bitcoin

Bloomberg Cathie Wood’s Power in Some Stocks Is Even Bigger Than It Seems (Bloomberg) — A rough week for Cathie Wood is reminding Wall Street that Ark Investment Management has a lot of cash in not that many companies. In fact, the firm’s dominance in some stocks may be even greater than it seems.Ark now owns more than 10% of at least 29 companies via its exchange-traded funds, up from 24 just two weeks ago, according to data compiled by Bloomberg.Less discussed are holdings of Nikko… Source link

(Bloomberg) — Bitcoin’s rally hit a speed bump as the world’s largest cryptocurrency witnessed its worst weekly decline in almost a year amid wider losses in risk assets. The digital token slumped 20% this week, the most since the pandemic-fueled selloff last March. The wider Bloomberg Galaxy Crypto Index, tracking Bitcoin, Ether and three other cryptocurrencies, was down 23% for the same period. Bitcoin fell 5% to trade at $45,672 as of 5:00 p.m. in New York, according to consolidated… Source link

Bitcoin has tumbled about 15% in the past week. Despite its price appreciation this year (up more than 60%) and the enthusiasm around trading bitcoin, its acceptance as payment for transactions is still relatively low. That’s not likely to change in 2021— at least not on online marketplace Etsy. “I don’t think it’s quite ready yet to be tender,” said Etsy CEO Josh Silverman in an interview with Yahoo Finance Live. “You need a lot of people holding it before it is actually useful as a form… Source link

The world’s first bitcoin exchange traded fund is off to a hot start. The Purpose Investments bitcoin ETF now has more than $590 million in assets under management after launching just one week ago. The ETF was the first physically settled Bitcoin ETF to win approval and began trading in Canada on Thursday. It now gives investors a more direct way to invest in bitcoin relative to other closed-end funds like the popular Grayscale Bitcoin Trust (GBTC) and a less direct way than outright owning… Source link

What Happened: The largest crypto exchange in Southeast Asia, Philippines-based PDAX, experienced a technical failure that led to Bitcoin trading at $6,000 – an 88% discount to its current price. Following the incident, PDAX asked its customers to return their Bitcoins, threatening legal action, a local news outlet Bitpinas has reported. According to the exchange’s CEO, the system error was not due to a hack but a technical “glitch” caused by a massive surge in trading activity. Why It… Source link

TipRanks 2 Big Dividend Stocks Yielding 10%; RBC Says ‘Buy’ Soaring commodity prices, additional federal stimulus, and government bond yields on the rise are all raising the specter of inflation. Furthermore, there is growing concern that stocks – and tech ones in particular – are now at valuations disconnected from reality. Is the changing macro climate about to send the bull market into retreat? Too early to tell, but it does signal that a more prudent approach to investing might be a… Source link

(Bloomberg) — Bitcoin’s losses accelerated, with prices tumbling below $50,000, as investors started to bail on the market’s frothiest assets. The cryptocurrency tanked as much 18% on Tuesday and traded around $48,750 as of 10:41 a.m. in New York. While the selloff only puts Bitcoin prices at the lowest in about two weeks, investors are starting to wonder whether it marks the start of a bigger retreat from crypto or simply represents volatility in an unpredictable market. “Today’s… Source link

By Tom Wilson and Tom Westbrook LONDON/SINGAPORE (Reuters) – Bitcoin plummeted as much as 17% on Tuesday as investors grew nervous at sky-high valuations, triggering the liquidation of leveraged bets and sparking a sell-off across cryptocurrency markets. The world’s biggest cryptocurrency was facing its biggest daily drop in a month, falling to as low as $45,000. In choppy trading, it was last down 15.6%. The drop took its losses to over a fifth from a record high of $58,354 hit on Sunday and… Source link

Bloomberg Lucid Motors Agrees to Go Public With $24 Billion Valuation (Bloomberg) — Lucid Motors Inc. is merging with a blank-check company run by financier Michael Klein that values the combined entity at a pro-forma equity value of $24 billion, the biggest in a series of deals involving electric-vehicle startups cashing in on investor appetite for battery-powered cars.The carmaker has shied away from comparisons to market leader Tesla Inc., but the public listing positions it to compete for… Source link

Bloomberg Inflation Angst Is About to Rewrite the Stock Market Playbook (Bloomberg) — For bond investors, inflation is pretty much all bad news, eating into the value of future returns. For equity traders, the tidings can be less categorically awful, given the ability of certain companies to wring profits from higher prices.While there will be plenty of stock-market casualties should price pressures perk up, history suggests the landscape isn’t devoid of opportunity. Energy shares have been… Source link