Tag Archives: Bitcoin

MicroStrategy (MSTR) announced on Tuesday its founder and CEO Michael Saylor will step down from the top job and take a new post as executive chairman, focused on the company’s bitcoin strategy. Phong Le, the company’s president, will take over in the CEO role. MicroStrategy reported quarterly results that were light of Wall Street estimates on Tuesday, with revenue coming at $122.1 million against expectations for $126 million. Losses in the quarter totaled $918.1 million, with $917.8 million… Source link

James Howells was doing some housecleaning in 2013 when he mistakenly threw out a hard drive that contained 8,000 Bitcoin he had mined. At the time, it was a mistake that cost him anywhere from $108,000 to $8.6 million depending on when he tossed the drive (2013 was a particularly volatile year for Bitcoin). That’s enough to make anyone kick themselves. Bitcoin, though, has only gotten more expensive, meaning Howells’ losses have continued to grow. Even with the recent crypto winter, they… Source link

Tesla (TSLA) reported its Q2 earnings after the closing bell on Tuesday, meeting analysts’ estimates, following a prolonged COVID-induced shutdown at its Shanghai production facility. The company also says it sold 75% of its Bitcoin, turning it into fiat currency, adding $936 million in cash to its balance sheet. The quarter, however, ended Tesla’s streak of reporting record revenue. Here are the most important numbers from the report compared to Wall Street’s expectations, as compiled by… Source link

Key Insights: Bitcoin’s price saw a close to 56% drop in the second quarter of 2022. The global crypto market cap and most of the top crypto assets saw significant pullbacks and rangebound trajectories over the last three months. Largely stagnant futures and options markets and low trading volumes have been a bear market constant. A long and cold winter in the crypto bear market has left participants looking at price charts to seek relief in patterns. Top crypto assets – bitcoin (BTC) and Source link

The world’s largest public holder of Bitcoin called on regulators to finally tackle a laundry list of risky, immature crypto industry practices, or “parade of horribles”, that are unfairly weighing on the price of its asset. Microstrategy CEO Michael Saylor argues the over 19,000 cryptocurrencies and digital tokens in circulation must be viewed as “unregistered securities” that cannot be likened to a hard commodity like Bitcoin—which has no issuer, no management, no employees, no… Source link

By Tina Bellon (Reuters) – Bitcoin on Sunday rose around 7.6% to $20,404 from its previous close, signaling a recovery from a sharp drop on Saturday. Bitcoin, the world’s biggest and best-known cryptocurrency, is now up 16.7% from this year’s low of $17,592.78 on June 18, when it tumbled on investor worries about growing troubles in the crypto industry and amid a general pull-back from riskier assets. Andrew Brenner, head of international fixed income at National Alliance Securities, on Sunday… Source link

While many economists agree a recession is likely coming in 2023, Wall Street veteran and Bitcoin bull Mike Novogratz has just given one of the most dire outlooks yet. “The economy is going to collapse,” Novogratz told MarketWatch on Wednesday, adding, “We are going to go into a really fast recession, and you can see that in lots of ways.” Novogratz, chief executive of crypto merchant bank Galaxy Digital, gave the interview just before the Federal Reserve raised rates by 0.75… Source link

(Bloomberg) — Crypto had another bad week — and it may only get weirder. Most Read from Bloomberg Bitcoin led a decline in digital assets across the whole crypto spectrum, with the world’s largest token set for an eighth straight weekly loss in its longest such slump since August 2011. Bitcoin fell 2.4% on Friday to about $28,700 as of 5 p.m. in New York, buffeted by both the macro headwinds of Federal Reserve monetary tightening and the crypto-specific fallout from this month’s implosion… Source link

(Bloomberg) — Most Read from Bloomberg Bitcoin rebounded from a swoon below $30,000 as a selloff in stocks moderated and a bout of calm washed across global markets. The world’s largest digital token added as much as 5.4% to $32,636.08 as of 7:48 a.m. in London. Ether at one point climbed 6.4%, while coins like Solana and Avalanche were also in the green. Bitcoin’s earlier plunge had taken it to levels last seen in the middle of 2021. Whether the calm will last is an open question…. Source link

(Bloomberg) — There’s a crypto refrain when prices crash precipitously like this: The selloff is washing out the short term-focused non-believers, known as weak hands, strengthening the industry in its wake. Most Read from Bloomberg It’s a glib way to think of all those who had joined the market as Bitcoin’s price rose to an all-time high at the end of last year — including institutions and small-time at-home investors, many of whom are deeply underwater on their investments now. A… Source link