Bitcoin

Elon Musk, the billionaire founder of Tesla TSLA and SpaceX and who has just become the world’s richest man, has said he would never turn down being paid in the soaring cryptocurrency bitcoin. Responding to a tweet by Ben Mezrich, the author behind the movie The Social Network and writer of Bitcoin Billionaires, that read “I’m never turning down getting paid in bitcoin again,” Musk replied: “Me neither.” MORE FROM FORBESAs Bitcoin Smashes Through $40,000, Data Reveals What’s… Source link

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PARIS, FRANCE – JANUARY 08: Bitcoin now trades above $40k, here’s what’s different about the current … [+] rally (Photo illustration by Chesnot/Getty Images) Getty Images Bitcoin now trades over $40k, another all-time high, boosting the cryptocurrency’s stellar run from 2020. This next milestone comes a week after it topped $30k. Here’s what’s different about this rally, compared to the 2017 run. In 2017, Bitcoin was also getting similar headlines… Source link

Bitcoin is back, along with the debate over its value. The price of the digital currency is soaring and last week it hit more than $40,000 for the first time, having doubled in less than a month. Its price has jumped by more than 700% since the pandemic was first declared in March last year, rising from about $5,000. But breathless headlines are nothing new for the 12-year-old cryptocurrency. Bitcoin has been here before, in the previous decade, when it went on a tear with a predictable… Source link

Reuters/Lucas Jackson Bitcoin has more than doubled in less than a month, leaving analysts and investors stunned and concerned about a possible market bubble. In many ways the token’s rally in recent months is crucially different than the surge seen three years ago, as buyers now range from casual day traders to fund managers handling billions of dollars in assets. Easy monetary conditions and trillions of dollars in fiscal stimulus have led some investors to view the token as a… Source link

For all the talk about bitcoin (and broadly crypto) being easier to buy than ever before, Friday morning, as bitcoin was topping $41,000 per coin, I spent hours trying to make a small $100 purchase.  According to some, the latest rally was initiated by institutional investors looking for a hedge against fiat inflation and the U.S. dollar’s decline in foreign exchange markets, and they seem to be having no problem buying – the price has shot up $20,000 in less than a month.  But if my… Source link

Proponents of digital currencies are exuberant about the potential for 2021 after a monster year that saw highflying Bitcoin prices grab control of the spotlight. That’s nothing new – but the much wider feeling across Wall Street that “this time it’s different” is. Bitcoin prices recovered from a multiyear slump in 2020. It breached its 2017 record near $20,000 in November, and it has gone parabolic ever since, sitting well above $40,000 as of this publication. What might actually make this… Source link

The recent rally may be another case of speculative mania. bitcoin (XBT) looks like “the mother of all bubbles” according to Michael Hartnett, chief investment strategist at Bank of America Securities. Hartnett points out in a recent report that the dramatic rise in bitcoin during the past two years — a surge of roughly 1,000% since the beginning of 2019 — is far greater than the gains for other assets that have enjoyed massive runups in the past few decades. That includes a surge in gold… Source link

Dado Ruvic/Reuters Bitcoin hit a new all-time high of more than $41,000, as the cryptocurrency rally showed little sign of slowing down despite recent volatility. The Bitcoin and crypto rally has been driven by record amounts of fiscal and monetary stimulus drowning markets in cash, as well as fears about currencies and inflation. Critics question whether the rally is sustainable and point to past crashes in Bitcoin such as when it dropped from $19,000 to $4,000 between 2017 and… Source link

Bitcoin has had a phenomenal start to 2021, topping $40,000 per bitcoin for the first time ever. The bitcoin price has added a staggering 400% over the last 12 months, climbing as institutional investors warm to the cryptocurrency and payments giants such as PayPal PYPL add their support. Now, with retail investors increasingly eyeing bitcoin in light of its recent gains, new research shows how bitcoin “whales” accumulated a huge number of bitcoin tokens in December, helping the… Source link