Bitcoin

The biggest bull case for Bitcoin ( BTC -3.92% ) right now centers on it becoming a digital version of gold. While cryptocurrency enthusiasts envision a world where digital assets have real utility in our daily lives, as things stand today, the most valuable cryptocurrency is just starting to scratch the surface as a legitimate store of value.  Institutions are beginning to allocate portions of their portfolios to Bitcoin, and corporations like Block and 

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of… Source link

(Bloomberg Law) — MicroStrategy Inc. can’t strip out Bitcoin’s wild swings from the unofficial accounting measures it touts to investors, the SEC said. Most Read from Bloomberg Bad news for the MicroStrategy was compounded as the company’s shares fell as much as 20% Friday, the biggest intraday collapse since Feb. 23. Its stock closed at $375.89, down nearly 18%. Bitcoin also tumbled, and was down more than 7% around 4:15 p.m. in New York. The enterprise software maker, which said in… Source link

Bitcoin mining difficulty this week set a new all-time high of 26.64 trillion as the total hash rate of the Bitcoin network hit a record 199 TH/s. While such a turn of events is completely predictable given Bitcoin algorithms, they both happened while the price of Bitcoin is actually trending down. Is it the beginning of cryptapocalypse?  To avoid ‘oversupply’ or ‘undersupply’ of Bitcoin and consequent drop or increase of its value/purchase power, the difficulty of Bitcoin mining is… Source link

Image source: Getty Images Bitcoin’s price is down more than 40% from its November high. Is this a buying opportunity? Or could the price fall further? Key points Bitcoin’s price fell to the lowest point it’s been since July, 40%… Source link

Mayor Eric Adams’ grand experiment with converting his paycheck to cryptocurrency began Friday — just in time for the latest plunge in value for bitcoin and other leading tokens. The price of bitcoin hit a six-month low on Friday, sinking approximately 10 percent to $38,565 per token as of noon, according to cryptocurrency platform Coinbase. Ether sank nearly 14 percent to $2,794.53. That’s a significant drop from when Adams first announced he would convert… Source link

The argument Bitcoin as a form of “digital gold” is falling apart. As the world’s largest cryptocurrency slips to $38,000, the lowest price since August, its decline in tandem with risk assets such as tech stocks is casting a shadow on a long-touted similarity to gold.  Source link

It is becoming a more common occurrence: When stocks fall, so does bitcoin.  Bitcoin, the world’s largest cryptocurrency by market value, fell below $38,000 Friday to its lowest dollar value since August 2021, according to CoinDesk. It later regained some ground and was trading at $38,616.17, down 6.7% from its level late Thursday and more than 40% from its record in November 2021. The drop came fast on the heels of a late-afternoon swoon in… Source link

Image source: Getty Images Bitcoin produced 73% returns last year, but there are at least three coins that could do better than the “granddaddy of crypto” this year. Key points Last year Bitcoin produced a respectable 73% return… Source link

Updated Jan. 21, 2022 9:45 am ET Wall Street stock indexes opened lower after disappointing earnings reports from some popular technology stocks. Here’s what we’re watching at the end of a rough week on Wall Street: Bitcoin’s price fell below $40,000, and crypto stocks were dragged down with it, including Coinbase COIN… Source link