Tag Archives: cryptocurrencies

Investors unnerved by the financial strains of a Chinese real estate firm sent cryptocurrencies reeling on Monday, with bitcoin (BTC-USD) tumbling by more than 7%. As risk-sensitive assets plunged, the leading digital coin shed over $3,000, changing hands just below $44,000 in midday trading. The moves were the latest signal that the world’s largest cryptocurrency hasn’t achieved the “safe haven” asset status that some of its more ardent proponents have promoted, even as debt levels… Source link

Count Rick Rieder, BlackRock’s chief investment officer of global fixed income, as a believer in cryptocurrencies.  “I think it could have some real upside. My sense is there are more buyers than sellers. It’s an asset class that I think is durable,” Rieder said on Yahoo Finance Live.  Rieder revealed he owns “small pieces” of crypto in several of his bigger portfolios, and compares the positions to owning stakes in venture capital firms.  “Quite frankly, I am glad I do [own crypto]. This… Source link

A recruitment ad by Amazon has stoked speculation the company may have a favourable view of cryptocurrencies. Photo: Artur Widak/NurPhoto via Getty Images Bitcoin (BTC-USD) and other cryptocurrencies surged higher on Monday morning, amid speculation that e-commerce giant Amazon (AMZN) could soon accept tokens as payment. Bitcoin was up 12% to $38,723 (£28,169) at just after 8am on Monday morning in London. It marked the cryptocurrency’s highest price in over a month. The rally was linked to… Source link

By Gertrude Chavez-Dreyfuss NEW YORK (Reuters) – Cryptocurrencies posted inflows last week after hitting record outflows the previous two, as investors took advantage of price declines in the market, data from digital currency manager CoinShares showed late Tuesday. Inflows into crypto investment products and funds totaled $74 million last week. That followed record outflows of $151 million the previous two weeks, representing 0.3% of assets under management. Bitcoin products continued to see… Source link

Jamie Dimon, the CEO of the largest U.S. bank, said Thursday that he has personal concerns with cryptocurrency, but will not steer JPMorgan Chase (JPM) away from offering crypto-related financial services. In congressional testimony to the U.S. House Financial Services Committee, Dimon was asked about his thoughts on bitcoin and other digital assets. “My own personal advice to people is: stay away from it. That does not mean the clients don’t want it,” Dimon said. “This goes back to how… Source link

With the incredible volatility in cryptocurrency markets in recent weeks, lawmakers might be watching the price moves like everyone else, but aren’t likely to act anytime soon, predicts one Representative. “Most of my colleagues don’t have a deep understanding of cryptocurrencies,” Rep. Jim Himes (D., Conn.) said diplomatically in an interview with Yahoo Finance Friday. “So, for better or for worse, there’s not going to be legislation passed out of the United States Congress anytime… Source link

Bloomberg The World Economy Is Suddenly Running Low on Everything (Bloomberg) — A year ago, as the pandemic ravaged country after country and economies shuddered, consumers were the ones panic-buying. Today, on the rebound, it’s companies furiously trying to stock up. Mattress producers to car manufacturers to aluminum foil makers are buying more material than they need to survive the breakneck speed at which demand for goods is recovering and assuage that primal fear of running out. The… Source link

TipRanks Buy These 2 New Stocks Before They Jump Over 80%, Says JPMorgan In the past week, investors have had to cope with multiple conflicting signals from the markets. The April jobs report, which was expected to show almost 1 million new positions for the month, showed only 266,000. The official unemployment number ticked upward slightly to 6.1%, and hourly wages also gained – by 0.7%. That last would seem to be a positive – except that, combined with the massive government stimulus… Source link

Text size This photo shows the Coinbase logo on a smartphone in Los Angeles on April 13, 2021. Chris Delmas/AFP/Getty Images Coinbase might be the Google of cryptocurrencies. If that’s the case, its stock could be a bargain. Barron’s Avi Salzman made the case for owning Coinbase stock… Source link

Demand for cryptocurrencies in the country has been driven up recently by inflation pressures and a weaker Turkish Lira. The country’s annual inflation rose above 16% in March. Photo: Chesnot/Getty Images The price of bitcoin (BTC-USD) descended from record highs on Friday following a decision by Turkey’s central bank to ban cryptocurrencies for payments.  The Central Bank of the Republic of Turkey (CBRT) said the use of cryptocurrencies and other crypto assets based on distributed ledger… Source link