Today I’m going to weave together three seemingly unrelated stories from the past week to highlight a trend that I believe we are largely overlooking. Ready? First, Tesla’s Q1 earnings release revealed that the company sold $272 million worth of its bitcoin holdings in the first quarter. According to its CEO, Elon Musk, it did so to test the market’s liquidity. The $101 million it added to the company’s quarterly profit didn’t hurt, either. Second, crypto lender Genesis Trading (a… Source link

President Joe Biden is proposing to hike capital gains tax by nearly 50% from current levels for … [+] those with $1 million or more in income from wages and investment. The rich won’t be able to hide it in Bitcoin. Then again, neither can the rest of us. KMR Images Frustrated that savvy rich people will hide from the White House’s newly proposed tax hikes last week and sock it away into Bitcoin? Don’t worry. They can’t. And neither can the rest of us. If you’re selling… Source link

Ether (ETH) price has rallied more than 200% in 2021, resulting in a massive $337 billion market capitalization. This impressive figure pushed the value of the Ethereum network ahead of the total market cap of major companies like Procter & Gamble’s ($326 billion) and PayPal’s $308 billion. The market cap figure is achieved by multiplying the last trade price by the total outstanding number of coins, regardless of whether they’ve been moved. Therefore, it seldomly reflects the average price… Source link

Blackouts in China and a leverage wipeout took a toll on Bitcoin two weeks ago, but the Godfather of … [+] crypto recovered well last week. This week, more of the same is expected. BTC $60,000 here we come. (Photo Illustration by Omar Marques/SOPA Images/LightRocket via Getty Images) SOPA Images/LightRocket via Getty Images If you didn’t know Bitcoin was highly volatile, you probably do now. The grandfather of cryptocurrencies can drop $10,000 in value in 48 hours. The most… Source link

Bitcoin has beaten the stock market, but you might be shocked by how much. It’s been a wild ride for Bitcoin throughout its 11-year history, and that’s been especially true over the past year. Not only did the COVID-19 pandemic drive Bitcoin’s price lower initially, but it also seems to have helped accelerate investor interest in the leading cryptocurrency. Here’s a look at how Bitcoin has performed for investors over the past year and what has driven its performance. The short answer I won’t… Source link

Feeling a twinge of regret for ignoring the crypto market until now? These numbers aren’t going to make you feel any better. Cryptocurrency is booming right now, and it seems to be all anyone in finance wants to talk about. Those of us who are just starting to pay attention now are probably kicking ourselves for ignoring the opportunity years ago — when it would have been much cheaper to dip our toes in the water. How much was ETH worth 5 years ago? Ethereum is a decentralized blockchain (a… Source link

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The organization behind the Samourai Wallet will support the decentralized exchange Haveno, which allows you to exchange bitcoin (BTC) for monero (XMR). Samourai Wallet says it will sponsor Haveno, in response to the stance taken by the developers of Bisq, a popular non-custodial bitcoin exchange. regarding the alleged priority use they want to give to Liquid, from Blockstream, as the network base of operations. Samourai defends operating primarily on layer 1 of Bitcoin, according to… Source link

Bitcoin has exploded this year, with long-awaited institutional adoption being bolstered by retail investors pouring cash into all manner of cryptocurrencies (some looking like better bets than others). The bitcoin price has soared as millions of potential bitcoin buyers get access to bitcoin markets via the likes of PayPal, Robinhood, Square’s Cash App and Revolut. Now, as PayPal and Robinhood continue to prevent bitcoin bought on their platforms from being moved elsewhere, a leaked… Source link

Ethereum, the second-largest cryptocurrency after bitcoin, has shot higher this week, adding a staggering 25% to its already huge recent gains. The ethereum price, now within touching distance of $3,000 per ether, has been boosted by the European Investment Bank’s (EIB) debut digital bond sale, issued on the ethereum blockchain, and praise from Wall Street giant and bitcoin convert JPMorgan JPM . However, even as ethereum investors and developers celebrate the soaring ether price,… Source link